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Diesel Engine Market Size Projected to Reach US$ 274.9 Billion by 2028

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Diesel Engine Market Size Projected to Reach US$ 274.9 Billion by 2028

March 22
04:00 2023
Diesel Engine Market Size Projected to Reach US$ 274.9 Billion by 2028
Global Diesel Engine Market Research Report 2023-2028
Global Diesel Engine Market Driven by the Rising Demand for Commercial and Heavy-Duty Vehicles.

Diesel engine refers to internal combustion engine systems wherein air is compressed to a sufficiently high temperature inside a cylindrical vessel for igniting the fuel. They are available in two-stroke and four-stroke types and in multiple power ratings, including 0.5 MW to 1 MW, 1 MW to 2 MW, 2 MW–5 MW, and above 5 MW.

Diesel engine variants convert the chemical energy in the fuel into mechanical energy to power freight trucks, tractors, locomotives, and marine vessels. They offer numerous advantages, such as easier maintenance, higher durability and compression ratio, improved fuel economy, enhanced torque, etc. As a result, diesel engine solutions find widespread utilization across several sectors, including automotive, marine, mining, agriculture, etc.

What is the outlook for the diesel engine market?

The global diesel engine market size reached US$ 220.8 Billion in 2022. Looking forward, the market expected to reach US$ 274.9 Billion by 2028, exhibiting a growth rate (CAGR) of 3.63% during 2023-2028, according to the latest published report by IMARC Group.

Diesel Engine Market Trends and Drivers:

The growing automobile industry and the escalating usage of the engine model in commercial and heavy-duty vehicles are among the key factors driving the diesel engine market. Additionally, the introduction of modern diesel engines that have overcome the disadvantages of earlier products, such as loud noise and high-cost maintenance, owing to the absence of spark plugs or wires, is acting as another significant growth-inducing factor. Apart from this, the increasing energy demand, on account of the elevating number of industries and business expansion activities and development of commercial infrastructure across the globe, is also positively influencing the global market.

Moreover, the expanding product usage in the marine industry for their low volatility rate is further stimulating the market growth. Besides this, the rising requirement for a reliable and consistent source of power generation in the healthcare segment to prevent interruptions in the operations of various sensitive equipment, which include oxygen ventilators, infusion pumps, electrocardiogram (ECG) machines, is expected to bolster the diesel engine market in the coming years.

Download a free sample report to get a detailed overview of the report: https://www.imarcgroup.com/diesel-engine-market/requestsample

The report cover the below key market segments:

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

Regional Insight:

  •  
    • North America
    • Asia Pacific
    • Europe
    • Middle East and Africa
    • Latin America

 

Ask Analyst for 10% free customized report: https://www.imarcgroup.com/request?type=report&id=1290&flag=C

About Us:

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.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. 

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Company Name: IMARC Group
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Phone: +1-631-791-1145
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Website: https://www.imarcgroup.com

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