Diesel
Power Engine Market Report Synopsis:
Diesel
power engine is an internal combustion engine where ignition takes place
through elevated temperature. It offers the highest thermal efficiency compared
to any other internal or external combustion engines. The study conducted on
the global diesel power engine market by Market Research Future (MRFR) reveals
that it is expected to strike a CAGR of 5.5% across the assessment period 2017
to 2023.
Increasing
demand for data centers and IT facilities are expected to propel the expansion
of the market in the years to come. In addition, a rising inclination towards
power backup in both residential and commercial places is anticipated to
expedite the expansion of the diesel power engine market over the next couple
of years.
Urbanization
and industrialization are prognosticated to provide impetus to the growth of
the Diesel
Power Engine Market Report across the review period. However, the emergence
of alternative sources of power remains an impediment to market growth.
Global
Diesel Power Engine Market Segmentation:
The
key segments of the global diesel power engine market, based on operation, are prime,
standby, and peak shaving. Among these, the standby segment has been assessed
to account for the maximum share of the market in 2017. It is expected to
exhibit a relatively higher CAGR over the forecast period. Increasing demand
for backup power is projected to drive the growth of the segment in the
forthcoming years.
On
the basis of rated power, the segmental analysis of the diesel power engine
market covers 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 anticipated to secure the pole position in the global market
place over the next few years. Increasing applications in large residential and
commercial buildings are prognosticated to lead the growth of the segment in
the years to come.
The
end-user segments of the global diesel power engine market assessed in this
MRFR report are commercial, industrial, and residential. Among these, the
industrial segment, which encompasses, power station, chemical, oil & gas,
mining, and manufacturing, is anticipated to emerge as the fastest-growing
segment in the forthcoming years.
Regional
Analysis:
The
regional evaluation of the global diesel power engine market covers four key regions
– Europe, North America, Asia Pacific, and the Rest of the World (RoW).
Asia
Pacific is expected to expand at a comparatively higher CAGR during the
projection period. The rapid developments in the industrial as we as the
commercial sectors of the region is projected to lead the growth of the diesel
power engine market during the assessment period. In addition, the presence of
developing nations in the region is projected to boost the demand for power and
energy in the nearby future. This, in turn, is anticipated to impact the
expansion of the regional diesel power engine market favorably over the next
few years.
Competitive
Dashboard:
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.) are some of the major players operating in the global diesel power
engine market. These players are assessed in details in this MRFR report and
are anticipated to contribute to the expansion of the market over the next few
years.
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