Diesel Power Engine Market Size 2024-2033 | Size, Share, Insights, Demand, Outlook

"The new report published by The Business Research Company, titled ""Diesel Power Engine Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the diesel power engine market size has grown strongly in recent years. It will grow from $7.69 billion in 2023 to $8.16 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The diesel power engine market size is expected to see strong growth in the next few years. It will grow to $10.42 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.

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Marine Industry Expansion Driving Diesel Power Engine Market Growth
The expansion of the marine industry is expected to propel the growth of the diesel power engine market going forward. The marine industry refers to the sector that encompasses all activities related to the construction, operation, and maintenance of vessels and structures used on or in the water. The marine industry is expanding due to increasing global trade, offshore oil and gas exploration, growing demand for seafood, rising marine tourism, and the development of offshore renewable energy projects. Diesel power engines help the marine industry by providing reliable and efficient propulsion for ships and vessels, enabling long-distance travel, supporting heavy cargo transport, and powering essential onboard systems for various marine applications. For instance, in June 2023, according to the Bureau of Economic Analysis, a US-based government agency for macroeconomic and industry statistics, the marine economy represented 1.9% ($432.4 billion) of the U.S. GDP in 2021, up from 1.7% ($363.2 billion) in 2020. It also accounted for 1.8% ($730.0 billion) of the current-dollar gross output. Therefore, the expansion of the marine industry is driving the growth of the diesel power engine market.

Digital Solutions Enhancing Diesel Engine Efficiency
Major companies operating in the diesel power engine market are adopting digital solutions, such as predictive models, to improve maintenance planning for optimal performance and reduced downtime. Predictive models are statistical or machine learning techniques used to forecast future outcomes based on historical data. For instance, in August 2023, Cummins Inc., a US-based engine manufacturing and design company, launched an innovative predictive model for the X15 heavy-duty engine. This technology notifies owners in advance when a diesel particulate filter (DPF) differential pressure (DP) sensor is at risk of failing. Customers receive predictive alerts up to 90 days before potential sensor failure, enabling proactive scheduling of replacements to prevent downtime. Predictive alerts are sent via email through PrevenTech or accessed using Cummins' genuine service tools, such as Guidanz Mobile and INSITE. This technology will offer customers predictive insights, allowing them to schedule sensor replacements proactively, thus reducing downtime and enhancing operational efficiency.

The diesel power engine market covered in this report is segmented -

1) By Type: On-Road Diesel Engine, Off-Road Diesel Engine, Other Types
2) By Operation: Standby, Prime, Peak Shaving
3) By Rated Power: Up To 0.5 Megawatts (MW), 0.5 To 1 Megawatts (MW), 1 To 2 Megawatts (MW), 2 To 5 Megawatts (MW), Above 5 Megawatts (MW)
4) By End-User: Industrial, Commercial, Residential

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Major companies operating in the diesel power engine market are General Electric Company, Caterpillar Inc., Deere & Company, HD Hyundai Infracore, Mitsubishi Heavy Industries Ltd., Weichai Power Co. Ltd., Cummins Inc., Toyota industries corporation, Isuzu Motors Limited, Kubota Corporation, Yanmar Holdings Co. Ltd., Kohler Energy, Wärtsilä Oyj Abp, J.C. Bamford Excavators Limited, MAN Energy Solutions SE, Cooper Corp., Woodward Inc., FPT Industrial S.p.A., Deutz AG, Volvo Penta, Perkins Engines Company Limited, Lister Petter, Motorenfabrik Hatz GmbH & Co. KG, Mahindra Powerol, Lombardini S.r.l.

Contents of the report:
1. Executive Summary
2. Diesel Power Engine Market Report Structure
3. Diesel Power Engine Market Trends And Strategies
4. Diesel Power Engine Market - Macro Economic Scenario
5. Diesel Power Engine Market Size And Growth
…..
27. Diesel Power Engine Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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