Dublin, May 12, 2023 (GLOBE NEWSWIRE) -- The "Global Diesel Engines for Non-Automotive Applications" report has been added to ResearchAndMarkets.com's offering.
The global diesel engines for non-automotive applications market size was valued at $4.35 billion in 2022, and is projected to reach $5.5 billion by 2030, registering a CAGR of 3.3% during the forecast period (2023-2030).
Diesel engine technology is gaining momentum on technological advances which is acting as a driving factor impacting the global diesel engines market for non-automotive applications. Improved fuel economy continues to be the most significant progress in diesel engine technology.
Though many end-users prefer gasoline-powered equipment, diesel engines possess a solid end-user base in terms of the industrial sector as it considers fuel economy as an important parameter in owning a power backup equipment.
Moreover, in recent years, several initiatives and changes have been implemented to improve the overall efficiency of the diesel engine. Most of the modifications involved igniting power within the engine itself, derived from the combination of oxygen and fuel. The most advanced fuel emission treatment methods in practice are exhaust gas recirculation (EGR) and selective catalyst reduction (SCR).
Segmental Outlook
The global diesel engines for non-automotive applications market is segmented based on type, and end-user. Based on the type, the market is segmented into the single cylinder, and multi cylinder. Further, on the basis of the end-user, the market is segmented into marine, construction, agriculture, generators, and others. Among the end-user segment, the marine sub-segment is expected to cater prominent market share over the forecast period owing to increasing production in the shipbuilding industry globally.
The Marine Sub-Segment is Anticipated to Hold a Prominent Share in the Global Diesel Engines for Non-Automotive Applications Market
The diesel engines market for non-automotive applications market share growth by the marine segment will be significant during the forecast period. The increasing production in the shipbuilding industry globally will have a positive impact on related products. For instance, in July 2021, according to data from the Ministry of Industry and Information Technology, China's shipbuilding industry constructed ships totaling over 20.92 million deadweight tons (dwt) from January to June, up 19% from the previous year. Additionally, new orders received by the country's shipbuilders surged 206.8% from the previous year, totaling 38.24 million dwt. The marine segment is followed by the construction segment, owing to increasing urbanization and industrialization across the globe.
Regional Outlooks
The global diesel engines for non-automotive applications market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for particular region or country level as per the requirement. Among these, the Asia-Pacific regional market is expected to cater prominent growth over the forecast period.
The Asia-Pacific Region is Expected to Hold Prominent Share in the Global Diesel Engines for Non-Automotive Applications Market
Among all regions, Asia-Pacific is expected to hold a significant market share during the forecast period. China is the key market for diesel engine market for non-automotive applications in Asia-Pacific. The electricity demand has increased exponentially in the Asia-Pacific region due to rapid industrial development and increasing per capita electric power consumption. The developing countries in Asia-Pacific such as India, China, South Korea, and Thailand are experiencing rapid industrial development and urbanization which will facilitate the diesel engines market for non-automotive applications market growth in the Asia-Pacific region over the forecast period.
Market Players Outlook
The major companies serving the global diesel engines for the non-automotive applications market include AB Volvo, Isuzu Motors Ltd., Mitsubishi Heavy Industries Ltd., Rolls Royce Plc, Wartsila Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market.
Key Topics Covered:
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Segmentation
5. Regional Analysis
6. Company Profiles
A selection of companies mentioned in this report includes
- AB Volvo
- Caterpillar Inc.
- Cummins Inc.
- Daihatsu Motor Co., Ltd.
- Deere & Company
- Detroit Diesel Corp.
- DEUTZ AG
- Hyundai Doosan Infracore Co., Ltd.
- Fairbanks Morse, LLC
- General Electric Co.
- Motorenfabrik Hatz GmbH & Co. KG
- Isuzu Motors Ltd.
- J C Bamford Excavators Ltd.
- MAN Energy Solutions SE
- Mitsubishi Heavy Industries, Ltd.
- Rolls-Royce Holdings plc
- Wartsila Corp.
- Yanmar Holdings Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/c3sgik
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