Diesel power engine Market Segments, Opportunity, Emerging Growth And Forecast By-2023

Market Highlights:

Diesel is an internal combustion engine, wherein air is compressed to an adequately high temperature to burn diesel fuel introduced into the cylinder, and combustion and expansion trigger a piston. Diesel engine converts the chemical energy stored in the fuel into mechanical energy, which can be used to power various equipment at every end-user level.

Diesel power engines have a wide application in various sectors such as industrial, commercial, and residential for standby, prime, continuous, and peak shaving. The growth in the number of data centres and IT facilities, indicating urbanization in developing countries, is expected to boost the diesel engine market. However, the rise of alternate sources of power generation such as renewable energy, may hinder the growth of diesel power engine market.

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The market for diesel power engine is expected to have many expansions over the forecast period due to continuous technological advancement in energy sector coupled with increased power demand. The diesel power engine market is also expected to have high development activities by conglomerates and well-established companies.

The global diesel power engine market is expected to grow at ~ 5.5% CAGR during the forecast period.

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

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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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This release was published on openPR.