Jan 13, 2021 (SUPER MARKET RESEARCH via COMTEX) -- According to the latest report by IMARC Group titled, "Diesel Engine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025", the global diesel engine market was worth US$ 225 Billion in 2019. Looking forward, IMARC Group expects the market to continue its moderate growth during the next five years.
A diesel engine, also known as a compression-ignite (CI) engine, refers to an intermittent-combustion piston-cylinder device in which air is compressed at a high temperature to ignite the fuel. It converts the chemical energy of the fuel into mechanical energy, which is used for driving different automotive units. The most commonly available types of diesel engines include two-stroke and four-stroke engines. They provide higher fuel efficiency, better durability, and greater torque than other fuel engines. In recent years, diesel engines have gained immense popularity as manufacturers are developing advanced variants using high-pressure fuel injection technology and efficient filtration features.
Global Diesel Engine Market Trends:
One of the major factors driving the demand for diesel engines is the widespread utilization of these engines in passenger and commercial vehicles, marine vessels and electric generators. Based on the diesel engine market analysis, these engines are widely used in commercial vehicles and heavy-duty machinery since they provide better operational efficiency than conventional engines. Furthermore, rapid urbanization and industrialization in countries like India, China and Vietnam have fueled the need for efficient power infrastructures. This has escalated the demand for diesel engines for electricity generation to meet the power demand in these regions. The leading companies are also introducing high-speed diesel engines that can be utilized as emergency and backup generators to provide electricity during grid outages and supply power to remote communities that are not connected to the grid. Also, diesel power generation is considered to be a reliable source for both the commercial and industrial sectors. Consequently, the demand for diesel engines across several industries, such as construction, mining, and agriculture, will continue to boost the market growth in the upcoming years. Moreover, there has been constant research and development (R&D) activities for developing engines that help limit harmful emissions without impacting their performance.
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Global Diesel Engine Market 2020-2025 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the key players being 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, Wartsila Oyj Abp, Cummins, Inc., Rolls-Royce Motor Cars Limited, Rubitherm Technologies Gmbh.
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/diesel-engine-market
Key Insights from the Report:
Based on the power rating, the market has been segmented as 0.5 MW-1 MW, up to 0.5 MW, 2 MW-5 MW, 1 MW-2 MW, and above 5 MW.
On the basis of the end user, the market has been segregated into the automotive and non-automotive industries.
Region-wise, the market has been categorized into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America.
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