Diesel Engine Market Report 2023, Trends, Demand and Business Opportunities 2028

The latest report by IMARC Group, titled "Diesel Engine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The global diesel engine market size reached US$ 220.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 274.9 Billion by 2028, exhibiting a growth rate (CAGR) of 3.63% during 2023-2028.

A diesel engine is an internal combustion engine that operates on diesel fuel, named after its inventor, Rudolf Diesel. It is a type of compression-ignition engine, which means that the ignition of the fuel is initiated by the heat generated through the compression of air in the engine's cylinders rather than by a spark plug, as in gasoline engines. Diesel engines are known for their efficiency and durability. They are particularly favored for their high torque output, making them well-suited for heavy-duty and long-haul applications. One notable characteristic of these engines is their superior fuel efficiency compared to gasoline engines, as they extract more energy from each unit of fuel. They are widely used in tasks requiring high power and reliability due to their efficiency, durability, and longevity. At present, diesel engines find extensive applications in transportation, such as trucks, buses, trains, ships, and industrial machinery, including generators, construction equipment, and passenger vehicles.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/diesel-engine-market/requestsample

Diesel Engine Market Trends and Drivers:

The global diesel engine market is primarily driven by the rapid growth of the transportation and logistics sectors, particularly in emerging economies, which has augmented demand for diesel engines in trucks, buses, and commercial vehicles. Additionally, the efficiency and durability of diesel engines has accelerated their adoption in heavy-duty applications in industries such as construction, agriculture, and mining, thus propelling market growth. Moreover, the implementation of stringent emissions regulations that prompt the development of cleaner and more fuel-efficient diesel engines has catalyzed market growth. Besides this, the heightened focus on alternative fuels, including biodiesel and renewable diesel, that expands the use of diesel engines as part of sustainable transportation solutions is another major growth-inducing factor. Furthermore, ongoing advancements in engine technology, such as turbocharging and electronic control systems, that enhance the performance and fuel efficiency of diesel engines are contributing to market growth. Other factors, including rising product adoption in backup power generation in critical facilities and industries, the rapid expansion of the marine and shipping industry, and increasing industrialization and infrastructure development, are also anticipated to drive the market further.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Power Rating:

0.5 MW-1 MW
Up to 0.5 MW
2 MW-5 MW
1 MW-2 MW
Above 5 MW

Breakup by End-User:

Automotive
On-Road
Light Vehicles
Medium/Heavy Trucks
Light Trucks
Off Road
Industrial/Construction Equipment
Agriculture Equipment
Marine Applications
Non-Automotive

Breakup by Region:

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

Competitive Landscape With Key Players:

AGCO Corporation
China First Automobile Works (FAW) Group Corporation
Robert Bosch GmbH
Deere & Company
Continental AG
Delphi Automotive System Private Limited
Mitsubishi Heavy Industries, Ltd.
Ford Motor Company
General Motors Company
MAN SE
Wärtsilä Oyj Abp
Cummins, Inc.
Caterpillar
Rolls-Royce Motor Cars Limited

Explore Full Report with TOC: https://www.imarcgroup.com/diesel-engine-market

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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This release was published on openPR.