Global Diesel Power Engine market will reach 10 billion US$ by the end of 2025

Publisher: QYResearch

Published Date: 2019/11/27

Global diesel power engine market size will reach more than US$10 bn by 2025, from an estimated US$8 bn in 2018, rising at a CAGR of over 3% during the forecast period.

Enhanced Efficient Than Traditional Gasoline Engines to Propel Market Growth

Global diesel power engine market is expected to register a drastic growth as they are more efficient than traditional gasoline engines. In recent years demand for heavy-end equipment and auxiliary power equipment has grown due to flourishing mining and construction industry. They are stronger and heavier allowing them to withstand great stresses and strains to power large vehicles and machines. They are particularly used for moving large loads at low speeds so they are used in freight-hauling ships, trucks, buses, and locomotives.

In the era of industrial expansion and infrastructural development, diesel engines are providing greater value due to their versatile, efficient, and economical nature as compared to gasoline engines. These engines are less volatile and explosive, making them safer to use than gasoline engines. Hence, they are most commonly used in everything from trains and cranes to bulldozers and submarines.  

However, diesel power engines have some drawback that are expected to restrain its growth. These engines produce a lot of pollution, noise, and unburned soot particles, which are dirty and hazardous to health. The growing need to curb urban pollution levels is expected to act as a major hurdle for the global market.

Above 5 MW Segment to Hold Largest Market Share in Global Diesel Power Engine Market

The global diesel power engine market is split by type and application. The type segment include up to 0.5MW, 0.5 MW-1 MW, 1 MW-2 MW, 2 MW-5 MW, and above 5 MW.  The above 5 MW segment is expected to hold a significant share in the market as it is installed in heavy earth moving construction vehicles that are generally 4-stroke in nature. The application segment includes industrial, commercial, and residential.

Asia Pacific to Dominate Global Diesel Power Engine Market

Asia Pacific is expected to dominate the market in forecast years owing to increasing construction activities in developing countries including China, India, and Japan. For rapid industrialization and urbanization governments and non-government organizations of these countries are investing heavily in infrastructural development. Europe is another major player in the market as governments are focusing on sustainability initiatives. Furthermore, augmenting demand for power generation, heavy equipment, and marine tourism is further boosting the growth of the market in North America.

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