Global Diesel Power Engine Market
Analysis
Market Research Future
(MRFR) analyzed that the global diesel power 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 Power
Engine 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.
Segmental Outline
The global market of diesel
power engine has been segmented by operation, rated power, and end-user.
By on operation, the diesel
power 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.
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. An understanding of the
market’s competitive landscape is aids in the identification of growth windows.
This is likely to contribute to the expansion of the growth of the global
diesel power engine market.
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