Diesel Power Engine Market is expected to grow at a robust CAGR
Global Diesel Power Engine Market is expected to grow owing to increasing
industrialization and the demand for reliable backup power throughout the
forecast period.
According to TechSci Research report, “Diesel Power Engine Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast 2018-2028”, the Global Diesel
Power Engine Market is expected to register robust growth during the
forecast period. The expanding utilization of diesel power
engines across various sectors, including agriculture, marine, mining, and
construction, is propelling the growth of the diesel power engine market. This
surge is primarily driven by the growing demand for electricity.
There is a growing demand for cleaner and more fuel-efficient diesel
engines that comply with stringent emission regulations. Manufacturers can
invest in research and development to create innovative technologies like
advanced exhaust after-treatment systems, high-pressure common rail fuel
injection, and advanced combustion strategies to reduce emissions further.
Combining diesel generators with renewable energy sources like solar and
wind can create efficient and sustainable hybrid microgrids for powering remote
communities, industrial sites, and critical facilities.
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Based on application, the
Standby segment is expected to dominate the market during the forecast period. The
growth in the global diesel power engine market is primarily fueled by the
imperative for uninterrupted power supply in critical infrastructure sectors
such as healthcare, telecommunications, and finance. Standby generators powered
by diesel are often the pragmatic choice for ensuring a stable power supply in
remote and off-grid locations. Manufacturers are actively developing standby
generators with advanced emission reduction technologies like selective
catalytic reduction (SCR) and diesel particulate filters (DPF) to comply with
stringent emissions standards. Moreover, standby power generators can
contribute to microgrid solutions, offering localized power generation and
resilience in the face of grid disruptions. Improving the operational and
standby efficiency of standby generators not only leads to cost savings but
also reduces the environmental impact. In conclusion, the standby power segment
of the global diesel power engine market experiences continued growth driven by
the demand for dependable backup power, particularly in critical infrastructure
and industrial applications. Despite challenges related to emissions and
competition from alternative technologies, the industry is evolving through
trends such as hybrid solutions, digitalization, and a focus on cleaner fuels.
There are ample opportunities for growth and innovation, especially in the
areas of energy efficiency and sustainability.
Based on industry vertical, the Commercial segment is projected to
dominate the market throughout the forecast period. The commercial segment
within the global diesel power engine market encompasses a wide range of applications
in various industries, including transportation, construction, agriculture,
logistics, and more. The commercial segment is one of the largest and most
diverse segments within the diesel power engine market, accounting for a
significant share of the total market revenue. Commercial vehicles, including
trucks and buses, play a vital role in the transportation of goods and people,
driving the demand for diesel engines in these applications. The construction
and industrial sectors heavily rely on diesel-powered equipment, such as
excavators, loaders, and generators, to carry out a multitude of tasks. Meeting
stringent emission standards, such as Euro 6 in Europe and Tier 4 in the United
States, poses a significant challenge for diesel engine manufacturers in the
commercial segment. With increasing environmental concerns, there is growing
competition from alternative propulsion technologies, such as electric and
natural gas, in specific commercial applications. Manufacturers are
continuously striving to improve fuel efficiency in commercial vehicles and
equipment powered by diesel engines to reduce operating costs and minimize
environmental impact. Opportunities exist in the development of commercial
diesel engines capable of running on alternative fuels, such as biodiesel,
renewable diesel, or natural gas, to reduce emissions and achieve
sustainability objectives.
Key market players in the Global Diesel Power Engine Market are:-
- Caterpillar Inc.
- Cummins Inc.
- Kohler Co
- Volvo AB
- Mitsubishi Heavy Industries Ltd
- Wartsila Oyj Abp
- Hyundai Heavy Industries Co. Ltd
- Man SE
- Rolls-Royce Holding PLC
- Doosan Corp.
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“The Diesel Power Engine Market in Asia Pacific is poised to be the
dominant force in the industry. Certain countries in the region are actively
exploring hybrid and electric technologies, particularly in urban
transportation and smaller vehicles. This trend is in line with global initiatives
to mitigate emissions and address climate change. The increasing prevalence of
digital technologies, such as telematics and remote monitoring, is aiding
operators in optimizing engine performance and minimizing maintenance expenses.”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Diesel Power Engine Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast Segmented By Type (On-road
Diesel Engine, Off-road Diesel Engine and Others), By Rating (Up to 0.5 MW,
0.5–1 MW, 1–2 MW, 2–5 MW and Above 5 MW), By Application (Standby, Peak
Shaving, Prime/Continuous Power and Others), By Industry Vertical (Industrial,
Commercial and Residential), By Region, By Competition Forecast &
Opportunities, 2018-2028,” has evaluated the
future growth potential of Global Diesel Power Engine Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Diesel Power Engine Market.
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