Market
Research Future (MRFR) analyzed that the Diesel
Engine Market is anticipated to expand at a CAGR of about 5.5% across
the forecast period of 2017 to 2023. Diesel power engines are becoming
desirable across different industry verticals. It is gaining popularity due to
its ability to meet the rising commercial, industrial, and residential energy
demand. These factors are expected to propel the growth of the global diesel
power energy market. Other factors that are likely to rise energy demand are
rising urban populace, increase IT facilities, growing number of data centers,
and strong economies having numerous diesel power engine projects, which are likely
to impact the market positively. However, the emergence of alternate generation
resources can interfere the market growth.
Diesel Engine Market Segmental
Outline
The global market of diesel power engine has been segmented
by operation, rated power, and end-user.
By on operation, the diesel engine market has
been segmented into prime, peak shaving, and standby. In 2017, the standby
segment held the maximum share of the market. MRFR asserts that by 2023, the
segment is expected to exhibit a higher CAGR across the forecast period due to
the increase in the need for backup power in the automobiles.
By rated power, the diesel power engine market
has been segmented into 0.5 MW, 0.5–1 MW, 1–2 MW, 2–5 MW, and above 5 MW. The 1
MW-2 MW segment is likely to gain high traction for the global market in the
review period. Increase in applications of diesel power engine for residential
and commercial use is likely to dictate growth for its global market in the
upcoming years.
By end-user, the diesel power engine market
has been segmented are industrial, commercial, and residential. The industrial
segment is sub-segmented into power station, encompasses, oil & gas, chemical,
manufacturing, and mining. The industrial segment is noted to be the fastest-growing
segment.
Regional Outlook
By region, the diesel power engine market has been
studied for North
America, Europe, Asia Pacific, and the Rest of the World (RoW). The
The
diesel power engine market in the Asia Pacific region is expected to register
the highest growth rate across the assessment period.
High energy
consumption, widening urban populace, and rapid industrialization in Asia
Pacific are observed as potent booster for the regional market. Both the
industrial and commercial segments are likely to gain traction for the regional
market. However, lack of effective power supply infrastructure in the region is
likely to hinder the expansion of the APAC diesel engine power market. But, hefty
investment made by key players in improving the power supply base and the
ever-expanding manufacturing industry in APAC are likely to gain momentum for
the market over the forecast period. The market in North America, followed by
Europe, is expected to exhibit steady growth pace over the evaluation period.
Key Players
Cummins,
Inc. (U.S.), Caterpillar Inc. (U.S.), Rolls-Royce Holdings plc. (U.K.), MAN SE
(Germany), Mitsubishi Heavy Industries, Ltd. (Japan), Wärtsilä Corp (Finland), Hyundai
Heavy Industries Co., Ltd. (South Korea), Volvo Penta (Sweden), Yanmar Co.,
Ltd. (Japan), Doosan (South Korea), Kohler Co. (U.S.)., and Kubota Corporation
(Japan) are some of the well-known producers of diesel power engine market.
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