Diesel Power Engine Market Highlights:
Global industry is expected to grow faster than ever before due to new technologies and various key industry players choosing multiple business tactics to expand globally by 2030.
Government policies and various regulations are playing vital role in this industry. Regional market growth is outstanding post pandemic. Some drivers and trends are helping the industry to grow at a high CAGR during forecast period 2023-2030.
Diesel Power Engine Market is expected to grow at USD 13.12 Billion with 6.91% CAGR during the forecast period.
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Market Research Analysis
Standby by operation, 1 MW-2 MW by rated power and industrial by end-user are expected to grow at the highest CAGR.
Global diesel power engine market has been segmented based on operation, rated power, end-user and region. Based on operation, the market is segmented into standby, prime, and peak shaving. Among these, the standby segment is estimated to dominate the diesel power engine market in 2017. Also, it is projected to grow at the highest rate during the forecast period due to the increased requirement for backup power in various applications such as residential, hospitals, and power plants for quick power generation. Based on the rated power the market is segmented into Up To 0.5 MW, 0.5–1 MW, 1–2 MW, 2–5 MW, and Above 5 MW. The 1 MW-2 MW segment is estimated to dominate the diesel power engine market in 2017.
Diesel engines of this power rating are used in large residential areas, commercial buildings, universities, and industrial applications for standby and prime applications. Moreover, the growing urbanization and industrialization in regions such as Asia Pacific and the Middle East are expected to drive the growth of this market in the coming years. Based on the end-user, the market is segmented into industrial, commercial, residential. The industrial segment is estimated to be the fastest-growing diesel power engine market, by end-user, from 2017 to 2023. The segment includes power station, oil gas, and others such as mining, chemical, and manufacturing. The growth of the industrial sector in Asia Pacific, South America, and the Middle East Africa is expected to drive the diesel power engine market. The increased requirement of power generation in these regions is expected to drive the demand for diesel power engines.
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Scope of the Report
This study provides an overview of the global diesel power engine market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the diesel power engine market by its operations, by rated power, by end-user and by region.
By Operation
- Standby
- Prime
- Peak Shaving
By Rated Power
- Up To 0.5 MW
- 5–1 MW
- 1–2 MW
- 2–5 MW
- Above 5 MW
By End-User
- Industrial
- Commercial
- Residential
By Regions
- North America
- Asia Pacific
- Europe
- Rest of the World
Key Players:
The key players in the global diesel power engine market are Caterpillar Inc. (U.S.), Cummins, Inc. (U.S.), MAN SE (Germany), Rolls-Royce Holdings plc. (U.K.), Wärtsilä Corp (Finland), Mitsubishi Heavy Industries, Ltd. (Japan), Volvo Penta (Sweden), Hyundai Heavy Industries Co., Ltd. (South Korea), Doosan (South Korea), Yanmar Co., Ltd. (Japan), Kubota Corporation (Japan) and Kohler Co. (U.S.).
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