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Key Market Dynamics:
- Market Driver
- Market Challenges
The advantages of diesel power engines over petrol engines and growth in the construction industry are some of the key market drivers. The higher the compression ratios, the higher the thermal efficiency and the better is the fuel efficiency. As a result, diesel power engines offer better fuel efficiency than petrol engines. The high torque of diesel power engines also allows them to pull heavy loads easily compared with petrol engines. These operational efficiencies of diesel power engines over petrol increase their adoption, which is expected to continue during the forecast period.
However, factors such as stringent emission regulations will challenge market growth. Diesel power engine manufacturers have to invest in R&D to develop fuel engines that have high-performance levels and meet the required compliance with rigid emission standards. Hence, they are compelled to increase their expenditure to design and market their products according to the requirements of regional markets. This is hindering the market growth to some extent.
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Key Market Segment Analysis
The diesel power engine market report is segmented by End-user (Industrial, Commercial, and Residential) and Geography (APAC, North America, Europe, MEA, and South America). The industrial end-user segment led the market share in 2021 and will continue to witness the highest diesel power engine market share during the forecast period. In terms of Geography, APAC will be the leading region with 54% of the market’s growth during the forecast period. The growth of this regional segment can be attributed to the surging developments in the construction and agricultural industry. The demand for commercial infrastructure, industrial buildings, and expansion of road and railway networks in China is expected to drive growth in the diesel power engine market in APAC China, South Korea (Republic of Korea), Japan, and India are the key markets for diesel power engines in APAC. Market growth in APAC will be faster than the growth of the market in other regions.
View our sample report for additional insights into the contribution of all the segments, and regional opportunities
Some Companies Mentioned
- AB Volvo
- Caterpillar Inc.
- Cummins Inc.
- Doosan Corp.
- Hyundai Motor Co.
- MAN Energy Solutions SE
- Mitsubishi Heavy Industries Ltd.
- Rolls-Royce Plc
- Wartsila Corp.
- Yanmar Holdings Co. Ltd.
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Electrical Conductors Market for the Power Industry by Application and Geography – Forecast and Analysis 2021-2025