Diesel Engines Market worth $78.8 billion by 2028 - Exclusive Report by MarketsandMarkets™

News provided by

Apr 26, 2023, 05:00 ET

CHICAGO, April 26, 2023 /PRNewswire/ -- Diesel Engines Market is projected to reach USD 78.8 billion in 2028 from USD 63.9 billion in 2023 at a CAGR of 4.3% according to a new report by MarketsandMarkets™. The market growth has been attributed to the growing demand for commercial vessels, which will anticipate maritime tourism, and will eventually drive the demand for diesel engines used in the marine industry.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=44084125

Browse in-depth TOC on "Diesel Engines Market"

329 - Tables
50 - Figures
277 - Pages

Diesel Engines Market Scope:

Report Coverage	Details
Market Size	USD 78.8 billion in 2028
Growth Rate	4.3% of CAGR
Largest Market	Asia Pacific
Market Dynamics	Drivers, Restraints, Opportunities & Challenges
Forecast Period	2023-2028
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Speed, Power Rating, End-User, and Region
Geographies Covered	Asia Pacific, North America, Europe, South America, Middle East & Africa
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Growth in hybrid power generation in rural and remote locations
Key Market Drivers	Increasing urbanization and industrialization

Above 1800 rpm segment, by high-speed, is expected to be the largest segment during the forecast period

The growing focus on industrial developments through improved trade integration, manufacturing growth, and regional economic integration will further bolster the demand for high-speed diesel engines during the forecast period. High-speed capacity is an essential factor for commercial cruisers. Increasing demand for tugboats would fuel the adoption of high-speed marine diesel engines during the forecast period. The above 1,800 rpm segment is mainly driven by the demand from the industrial and commercial sectors. Industrial and commercial end users prefer high-speed engines due to their quick-start capability, better fuel efficiencies, and low initial cost and maintenance costs, driving the high demand for above 1,800 rpm high-speed diesel engines.

Marines segment is expected to be the second-largest segment in the market

Marine engines are the main power source in ships for propulsion and auxiliary power and therefore play a vital role in the shipbuilding industry. The shipbuilding industry experiences peaks and troughs that directly affect the demand for diesel engines from the marines market. Maritime transport is the backbone of international trade. Stringent IMO sanctions and geopolitical scenarios can directly impact maritime transport, affecting the demand for diesel engines used in marine applications. Also, diesel locomotives have commonly utilized diesel engines as the main propulsion system, and diesel fuel is the common fuel for locomotives among railway end users.

Asia Pacific is expected to be the largest region in the Diesel Engines Market

Asia Pacific is expected to be the largest Diesel Engines Market during the forecast period. Increased construction activities are expected to create new industrial zones. Increased urbanization and government initiatives are other vital factors accelerating the Diesel Engines Market in the country. Also, the investment in fisheries and the government support pertaining to the growth of the fishing industry in Asian countries will drive the market for marine diesel engines in the forecast period.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=44084125

Key Market Players:

Some of the major players in the Diesel Engines Market are Caterpillar (US), Cummins Inc. (US), Volvo Penta (Sweden), Hyundai Heavy Industries (South Korea), and MAN Energy Solutions (Germany) to boost their position in the Diesel Engines Market. Companies operating in this market also focus on product launches, agreements, and contracts to increase their market shares and expand their geographic presence.

Recent Developments

In March 2023, Caterpillar announced the development of the CAT C13D, a new 13-liter diesel engine platform designed to achieve best-in-class power density, torque, and fuel efficiency for optimizing the performance of heavy-duty off-highway applications. The C13D would meet the emissions standards of higher regulated markets, such as EU stage v, US EPA tier 4 final, China non-road IV, Korea stage V, and Japan 2014, with models available for lesser regulated markets.
In June 2022, WinGD and Hyundai Heavy Industries' Engine Machinery Division (EMD) collaborated on delivering the first WinGD engine capable of running on ammonia, providing a vital step in shipping's progress toward decarbonization.
In February 2021, Cummins provided Isuzu with midrange B6.7 diesel platforms for medium-size trucks to meet global customer needs. Cummins and Isuzu would closely work together to integrate the engine with Isuzu's chassis and to meet Japan's emission regulations.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=44084125

Browse Adjacent Markets: Energy and Power Market Research Reports & Consulting

Related Reports:

High-Speed Engine Market - Global Forecast to 2028

Gas Engines Market - Global Forecast to 2027

Diesel Power Engine Market - Global Forecast to 2025

About MarketsandMarkets™:

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/diesel-engines-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/diesel-engines.asp