Global Diesel Power Engine Market Size, Growth and Forecast 2024-2032

According to the report by Expert Market Research (EMR), the global diesel power engine market size reached approximately USD 8.75 billion in 2023. Aided by the expansion of the industrial sector, the market is projected to grow at a CAGR of 4.7% between 2024 and 2032, reaching a value of around USD 13.23 billion by 2032.

A diesel-powered engine is an internal combustion engine that operates on diesel fuel. Unlike gasoline engines, which use spark plugs to ignite the fuel-air mixture, diesel engines compress air in the combustion chamber until it reaches a high enough temperature to ignite the diesel fuel injected into the chamber. This process is known as compression ignition.

Diesel engines are commonly used in a variety of vehicles and equipment, including trucks, buses, trains, ships, and some cars. They are known for their efficiency and durability, as well as their ability to produce high torque, which makes them well-suited for heavy-duty applications like towing and hauling.

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The expanding industrial sector, particularly in emerging economies, is a key driver aiding the diesel power engine market expansion. These engines are widely used in industrial applications, such as generators, compressors, pumps, and heavy machinery, powering critical operations in manufacturing, construction, mining, and oil and gas sectors. Moreover, ongoing infrastructure development projects, including road construction, utilities, and transportation networks, require reliable power sources, further fuelling the demand for diesel engines.

The diesel power engine market growth can be attributed to the growing importance of diesel power engines in the transportation sector, powering a wide range of vehicles, including trucks, buses, locomotives, and marine vessels. Despite the growing popularity of electric and hybrid vehicles, diesel engines remain a preferred choice for long-haul trucking, commercial transportation, and maritime applications due to their high torque, fuel efficiency, and long-range capabilities. Additionally, the robust demand for diesel-powered agricultural machinery, such as tractors, combines, and harvesters, underscores the importance of diesel engines in the agriculture sector.

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The global diesel power engine market expansion is supported by the increasing utilisation of diesel generators. These serve as reliable backup power sources for critical facilities such as hospitals, data centres, telecommunications networks, and remote off-grid locations. With frequent power outages and unreliable grid infrastructure in many regions, diesel generators provide an essential lifeline, ensuring uninterrupted operations and safeguarding against potential disruptions. Furthermore, diesel engines are increasingly deployed in decentralised power generation systems, particularly in remote and rural areas where access to electricity is limited.

Advances in diesel engine technology, including improvements in fuel efficiency, emissions control, and performance, have contributed to the diesel power engine market growth. Manufacturers are investing in research and development to enhance engine efficiency, reduce emissions, and comply with stringent environmental regulations. This includes the adoption of technologies such as turbocharging, direct injection, exhaust gas recirculation (EGR), and selective catalytic reduction (SCR) to achieve cleaner and more sustainable diesel engine operation.

The standby segment of the diesel power engine market refers to those engines that are primarily used as backup or emergency power sources. These engines are designed to provide electricity in situations where the primary power source fails or is unavailable. This segment constitutes a substantial portion of the overall diesel power engine market share for several reasons, with one of the key factors being the rapid start capability of standby diesel power engines.

One of the primary advantages of standby diesel power engines is their ability to provide immediate power supply. Unlike some other backup power sources that may require time to start up or warm up, diesel engines can typically start and begin generating electricity within seconds or minutes. This rapid start capability is invaluable in emergency situations where prompt restoration of power is critical to prevent disruptions or hazards.

Market Segmentation

The global diesel power engine market can be divided based on operation, power rating, end use, and region.

Market Breakup by Operation

Standby
Prime
Peak Shaving

Market Breakup by Power Rating

Below 1 MW
1 to 5 MW
More than 5 MW

Market Breakup by End Use

Industrial
Commercial
Residential

Market Breakup by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global diesel power engine market. Some of the major players explored in the report by Expert Market Research are as follows:

Caterpillar Inc.
Cummins Inc.
Kohler Co.
AB Volvo
Mitsubishi Heavy Industries, Ltd.
Wärtsilä Corporation
KUBOTA Corporation
IHI Corporation
Yanmar Holdings Co., Ltd
Daihatsu Diesel Mfg.Co.,Ltd.
Others

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