Global Diesel Power Engine Market Report Information, by Operation (Standby, Prime, and Peak Shaving), Rated Power (Up To 0.5 MW, 0.5–1 MW, 1–2 MW, 2–5 MW, and Above 5 MW), End-User (Industrial, Commercial, Residential) and By Region - Global Forecast to 2023.
Global Diesel Power Engine Market
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 centres 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 across the review period. However, the emergence of alternative sources
of power remains an impediment to market growth.
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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 marketplace 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.
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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.
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
Contact:
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Research Future
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