Diesel Engines Market
PUBLISHED: 2023 ID: SMRC23234
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Diesel Engines Market Forecasts to 2028 - Global Analysis By Type (Two Stroke Diesel Engine and Four Stroke Diesel Engine), Vehicle Type (Passenger Vehicle, Commercial Vehicle, Agricultural Vehicle and Construction Vehicle), Speed, Power Rating, Application, End User and By Geography

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4.4 (49 reviews)
Published: 2023 ID: SMRC23234

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $6.89 BN

Projected Year Value (2028)

US $9.02 BN

CAGR (2022 - 2028)

4.5%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Diesel Engines Market is accounted for $6.89 billion in 2022 and is expected to reach $9.02 billion by 2028 growing at a CAGR of 4.5% during the forecast period. The diesel engine is an internal combustion machine that compresses the air inside a cylindrical vessel to ignite the fuel, transforming chemical energy into mechanical energy. Large ships, trains, and freight trucks are all powered by this energy source. Diesel engines are preferred for various applications due to their many advantages. Diesel engines are increasingly preferred by end users due to their higher operating performance and fuel efficiency. Diesel engines may be built to satisfy a variety of power and performance needs, making them flexible and adaptable. Compared to gasoline engines, they produce less carbon dioxide and have a smaller carbon impact.

According to the reports of EPA, the US EPA mandated that the diesel standard for non-road diesel engines must be Ultra-Low Sulfur Diesel (ULSD).


Market Dynamics:


Driver:

Rising demand for modern infrastructure

The creation of fundamental support infrastructure and electricity T&D networks is necessary for urbanization. The construction, chemical & petrochemical, food & beverage, and utilities industries have seen increasing activity as a result of the rising need for modern infrastructure in metropolitan areas. Diesel engines may be used as a major or backup source of power generation to ensure power dependability, one of the important development determinants for the businesses. The market for diesel engines is expanding due to rising urbanization and industrialisation.

Restraint:

High fuel & maintenance costs

Compared to cheaper fuels like gasoline and other alternatives, diesel is more expensive. Regular service and replenishing of the lubrication, cooling, fuelling, starting batteries, and fuel filters are necessary for preventive maintenance. These expenses are more than the operating costs of renewable technologies and add up to the overall operating and maintenance costs of diesel engines. High fuel prices as well as the operating and maintenance expenses of diesel engines might be significant market development inhibitors given the increasing competition from new technologies.

Opportunity:

Growth in hybrid power generation

Isolated or off-grid places, such as isolated industrial units, telecom towers, tiny settlements, and islands, can have their power needs met by hybrid power generation. The specific power needs of residential and non-residential consumers are taken into account while designing hybrid power systems. To provide a continuous power supply to off-grid areas with fewer disruptions, hybrid power systems combine diesel engines with renewable energy sources (wind, solar, or both). This technology lowers operational expenses and fuel consumption. As a result, hybrid power generation is anticipated to pick up steam throughout the projection period in order to provide a sufficient and consistent supply of electricity.

Threat:

Competition from alternative energy sources

There are a variety of fuels that might be used in addition to or in instead of diesel, including biodiesel, butanol, producing gas, dimethyl ether, and hydrogen. For use in diesel cars, biodiesel is a sustainable fuel that may be produced from vegetable oils, animal fats, or recycled cooking grease. For usage in fuel cell automobiles, hydrogen is a potentially emissions-free alternative fuel that can be created from local resources. The market expansion for diesel engines is hampered by all these viable alternatives.

Covid-19 Impact

Many nations enacted lockdown rules in the first quarter of 2020 as the corona virus sickness started to spread over the world in an effort to reduce infection rates. The world's businesses were all shut down. Major Tier I and II providers including Caterpillar, Cummins, Wartsila, Rolls Royce Holdings, and MAN SE are present in the diesel power engine industry. These vendor's production sites are dispersed throughout a number of different nations. The firm's revenue completely decreased. The market for diesel engines was severely impacted by the epidemic, and demand has now increased.

The 0.5 MW–1 MW segment is expected to be the largest during the forecast period

The 0.5 MW-1 MW market is predicted to develop profitably. Large residential facilities, business complexes, hospitals, small data centers, and other commercial end users are the main consumers of diesel power engines in this size range. The biggest energy consumers in office buildings and commercial complexes are lighting and HVAC loads. The rise in demand for backup power is promoting the segment's expansion.

The commercial segment is expected to have the highest CAGR during the forecast period

The commercial segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the growing expenditures in the commercial sector, particularly in hospitals and data centers. Major corporations like Microsoft, Amazon, Alphabet, Apple, and Facebook have experienced a significant increase in demand. These businesses spend billions on emergency backup power, which is necessary for data centers to remain operational despite outages in the main power grid supply. The commercial segment is anticipated to rise as a result of these investments and improvements.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to meet the address the need for dependable backup and prime power supplies for businesses, residential end users and industrial facilities. The demand for energy is increasing as a result of urbanization, rising standards of living, and industrialization. Because of the continuous territorial disputes between nations like China, Korea, Japan, India, Pakistan, and Afghanistan, the need for small marine engines in the military industry is also anticipated to rise. These elements are anticipated to stimulate the market for diesel engines in the Asia Pacific area.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the rising infrastructure needs and power consumption. The large rise in power demand in emerging nations with weak power infrastructure, like China and India, is projected to make reliable power supply a severe problem, which boosted the sales of generators in a number of industries. The heavy-duty land-based transportation industry is another place where the diesel power engine finds a lot of use. Due to their better fuel efficiency, diesel-powered automobiles are particularly profitable in the Indian market. These elements, in addition to government regulations, are probably going to help the market.



Key players in the market

Some of the key players profiled in the Diesel Engines Market include Robert Bosch GmbH, Cummins Inc , Kubota Corporation, ISUZU Motors Limited, Yanmar Co., Ltd, Continental AG, Rolls-Royce, Fiat Powertrain Technologies S.p.A., AGCO Corporation, Deere & Company, Delphi Automotive System Private Limited, Mitsubishi Heavy Industries, Ltd., Ford Motor Company, General Motors Company, Volvo Penta, MAN Energy Solutions, Hyundai Heavy Industries, J C Bamford Excavators Ltd, Caterpillar and Doosan Infracore.

Key Developments:

In May 2023, Bosch Engineering and Ligier Automotive established strategic development partnership for high-performance vehicles with a hydrogen engine. The first step of the joint activities is to construct a demonstration vehicle based on the Ligier JS2 R.

In March 2023, Hyundai Heavy Industries, an affiliate of HD Hyundai, announced that it has become the world’s first company whose cumulative production of two-stroke marine engines exceeds 200 million horsepower output.

In March 2023, Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET), a part of Mitsubishi Heavy Industries (MHI) Group, announced to launch SGP M2000, a new natural gas engine cogeneration system with generation output of 2,000kW. The new package encloses a 16-cylinder natural gas-fired engine modelled G16NB that boasts electrical efficiency of 44.3%.

In February 2023, Cummins Inc. announced it will showcase the next generation of integrated Powertrain and digital connectivity at the American Trucking Associations’ Technology & Maintenance Council’s annual meeting and transportation exhibition.

In January 2023, General Motors Co. announced plans to invest $918 million in four U.S. manufacturing sites, including $854 million to prepare these facilities to produce the company’s sixth generation Small Block V-8 engine and an additional $64 million in Rochester, New York and Defiance, Ohio for castings and components to support EV production.

Types Covered:
• Two Stroke Diesel Engine
• Four Stroke Diesel Engine

Vehicle Types Covered:
• Passenger Vehicle
• Commercial Vehicle
• Agricultural Vehicle
• Construction Vehicle

Speeds Covered:
• Low
• Medium
• High

Power Ratings Covered:
• Up to 0.5 MW
• 0.5 MW–1 MW
• 1 MW–2 MW
• 2 MW–5 MW
• Above 5 MW

Applications Covered:
• Standby
• Prime
• Peak Shaving

End Users Covered:
• Power generation
• Marines
• Locomotives
• Oil & Gas
• Mining
• Construction
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Diesel Engines Market, By Type
5.1 Introduction
5.2 Two Stroke Diesel Engine
5.3 Four Stroke Diesel Engine

6 Global Diesel Engines Market, By Vehicle Type
6.1 Introduction
6.2 Passenger Vehicle
6.3 Commercial Vehicle
6.4 Agricultural Vehicle
6.5 Construction Vehicle

7 Global Diesel Engines Market, By Speed
7.1 Introduction
7.2 Low
7.3 Medium
7.4 High

8 Global Diesel Engines Market, By Power Rating
8.1 Introduction
8.2 Up to 0.5 MW
8.3 0.5 MW–1 MW
8.4 1 MW–2 MW
8.5 2 MW–5 MW
8.6 Above 5 MW

9 Global Diesel Engines Market, By Application
9.1 Introduction
9.2 Standby
9.3 Prime
9.4 Peak Shaving

10 Global Diesel Engines Market, By End User
10.1 Introduction
10.2 Power generation
10.3 Marines
10.4 Locomotives
10.5 Oil & Gas
10.6 Mining
10.7 Construction
10.8 Other End Users

11 Global Diesel Engines Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa

12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies

13 Company Profiling
13.1 Robert Bosch GmbH
13.2 Cummins Inc
13.3 Kubota Corporation
13.4 ISUZU Motors Limited
13.5 Yanmar Co., Ltd
13.6 Continental AG
13.7 Rolls-Royce
13.8 Fiat Powertrain Technologies S.p.A.
13.9 AGCO Corporation
13.10 Deere & Company
13.11 Delphi Automotive System Private Limited
13.12 Mitsubishi Heavy Industries, Ltd.
13.13 Ford Motor Company
13.14 General Motors Company
13.15 Volvo Penta
13.16 MAN Energy Solutions
13.17 Hyundai Heavy Industries
13.18 J C Bamford Excavators Ltd
13.19 Caterpillar
13.20 Doosan Infracore

List of Tables
1 Global Diesel Engines Market Outlook, By Region (2020-2028) ($MN)
2 Global Diesel Engines Market Outlook, By Type (2020-2028) ($MN)
3 Global Diesel Engines Market Outlook, By Two Stroke Diesel Engine (2020-2028) ($MN)
4 Global Diesel Engines Market Outlook, By Four Stroke Diesel Engine (2020-2028) ($MN)
5 Global Diesel Engines Market Outlook, By Vehicle Type (2020-2028) ($MN)
6 Global Diesel Engines Market Outlook, By Passenger Vehicle (2020-2028) ($MN)
7 Global Diesel Engines Market Outlook, By Commercial Vehicle (2020-2028) ($MN)
8 Global Diesel Engines Market Outlook, By Agricultural Vehicle (2020-2028) ($MN)
9 Global Diesel Engines Market Outlook, By Construction Vehicle (2020-2028) ($MN)
10 Global Diesel Engines Market Outlook, By Speed (2020-2028) ($MN)
11 Global Diesel Engines Market Outlook, By Low (2020-2028) ($MN)
12 Global Diesel Engines Market Outlook, By Medium (2020-2028) ($MN)
13 Global Diesel Engines Market Outlook, By High (2020-2028) ($MN)
14 Global Diesel Engines Market Outlook, By Power Rating (2020-2028) ($MN)
15 Global Diesel Engines Market Outlook, By Up to 0.5 MW (2020-2028) ($MN)
16 Global Diesel Engines Market Outlook, By 0.5 MW–1 MW (2020-2028) ($MN)
17 Global Diesel Engines Market Outlook, By 1 MW–2 MW (2020-2028) ($MN)
18 Global Diesel Engines Market Outlook, By 2 MW–5 MW (2020-2028) ($MN)
19 Global Diesel Engines Market Outlook, By Above 5 MW (2020-2028) ($MN)
20 Global Diesel Engines Market Outlook, By Application (2020-2028) ($MN)
21 Global Diesel Engines Market Outlook, By Standby (2020-2028) ($MN)
22 Global Diesel Engines Market Outlook, By Prime (2020-2028) ($MN)
23 Global Diesel Engines Market Outlook, By Peak Shaving (2020-2028) ($MN)
24 Global Diesel Engines Market Outlook, By End User (2020-2028) ($MN)
25 Global Diesel Engines Market Outlook, By Power generation (2020-2028) ($MN)
26 Global Diesel Engines Market Outlook, By Marines (2020-2028) ($MN)
27 Global Diesel Engines Market Outlook, By Locomotives (2020-2028) ($MN)
28 Global Diesel Engines Market Outlook, By Oil & Gas (2020-2028) ($MN)
29 Global Diesel Engines Market Outlook, By Mining (2020-2028) ($MN)
30 Global Diesel Engines Market Outlook, By Construction (2020-2028) ($MN)
31 Global Diesel Engines Market Outlook, By Other End Users (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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