Diesel Engine Market by 2027 – Analysis by Power Rating, End User and Geography – IMARCGroup.com – Shanghaiist
According to the latest report published by the IMARC group, “Diesel motor Market share, size, growth, opportunity and forecast 2022-2027by IMARC Group, finds that the global diesel engine market size reached US$212.4 billion in 2021. Going forward, the market is expected to reach US$266.3 billion by 2027, with a CAGR of 3.75% in 2022-2027.
We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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Industry definition and application:
A diesel engine is an internal combustion (IC) engine in which air is compressed to a high temperature before being injected into a cylindrical container to ignite the fuel. It converts stored chemical energy into mechanical energy that can be used to power large tractors, ships, freight trucks and locomotives. Diesel engines are commercially available as two-stroke and four-stroke engines. Compared to other fuel engines, diesel engines feature higher thermal efficiency, durability and torque. Due to these advantages, these motors find wide applications in various industries, such as mining, construction, and agriculture.
Diesel Engine Industry Trends and Drivers:
The global diesel engine market is mainly driven by the growing demand for commercial and heavy-duty vehicles. Additionally, the significant expansion of the automotive industry and rapid urbanization, especially in emerging economies, is catalyzing the need for efficient energy infrastructure, which, in turn, supports market growth.
With this in mind, manufacturers are developing advanced variants of diesel engines using efficient filtration features and high pressure fuel injection, which is propelling the growth of the market. Additionally, major market players are introducing diesel engines that can be used as standby generators, which is helping the growth of the market. Other factors such as extensive research and development (R&D) activities and the introduction of efficient and durable engines are creating more positive outlook for the market.
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List of major key players:
The main market players are
- ACGO Company,
- China FAW Group,
- Deere & Company,
- Continental SA,
- Delphi Automotive,
- Mitsubishi Heavy Industries,
- Ford engine,
- General Motors,
- SE MAN,
- Rolls Royce
|diesel engine market Report scope|
|Market size value in 2021||US$212.4 billion|
|Market forecast in 2027||US$266.3 billion|
|Rate of growth||CAGR of 3.75% from 2022 to 2027|
|Base year for the estimate||2021|
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