The demand for diesel engine vehicles over petrol and other fuels is estimated to grow from the mining sector.
According to the latest Arizton's market research report, the diesel engine market size to cross USD 240 billion by 2025, growing at a CAGR of 3% during the forecast period.
Diesel Engine Market Growth
The demand for diesel engine vehicles over petrol and other fuels is estimated to grow from the mining sector. At the same time, construction, agriculture, and heavy-duty diesel vehicles are also expected to drive the overall demand for global diesel engine market during the forecast period. Fuel efficiency has been one of the major drivers in the overall diesel global diesel engine market. Diesel engines are more fuel-efficient and have higher torque than petrol engines of similar size and diesel fuel contains about 10% to 15% more energy than petrol. The advancements and innovations in engine technology such as ultra-low sulfur diesel fuel and advanced exhaust treatment are expected to further push the market by adhering to emissions requirements.
Growth in Hybrid Vehicle
A hybrid vehicle has a powertrain that combines a petrol or diesel engine with a battery-powered electric motor. The battery is charged by capturing energy from the braking and, under certain conditions, from the engine. A hybrid vehicle is one that uses more than one means of propulsion while incorporating an electric motor with a petrol or diesel engine. A hybrid has the key benefits of burning less petrol and producing less CO2 than similar traditional petrol or diesel-engine vehicle. The increasing adoption of hybrid vehicles will create lucrative opportunities for vendors operating in the global diesel engine market.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by application, power equipment by operation, power equipment by end-users, marine diesel engine by speed, and geography
- Competitive Landscape – 8 Key Company Profiles and 22 Other Prominent Vendors
Diesel Engine Market– Geographic Analysis
The APAC region is represented as one of the major markets for diesel engines and diesel-powered vehicles. The growth of global diesel engine market in APAC is high due to increasing use of commercial vehicles in the industrial sector. The changes in emission norms and consumer shift towards electric vehicles are expected to impact the market growth in the region. Europe constituted as a major market for diesel engine and diesel-powered vehicles until 2019 and the global diesel engine market is expected to grow in countries such as Germany, France, and the UK. The share of diesel engines is expected to decrease, based on the effect of factors such as high taxes on diesel vehicles and adoption of e-mobility.
The global diesel engine market is highly fragmented with many local and international players across the globe. The competitive strengths include well-recognized brands, a full array of competitive products and features, a strong global presence, customer service, and distribution network. Vendors compete based on product performance, service to clients, quality, innovation, and price. Global competitors and many regional and specialized local players characterize the competitive environment for the diesel engine market. The market for non-automotive applications in diesel engines is dynamic, with various large and mid-sized firms participating with wide range of product portfolio. Vendors are also expected to concentrate more on the growth potential in the fast-growing segments while retaining their positions in the slow-growing segments to exploit new opportunities.
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