Global Diesel engine market
Posted by manisha on December 15th, 2020
Global Diesel engine market was valued US$ 9.8 Bn in 2019 and is estimated to reach US$ XX Bn by 2027 at a CAGR of about XX %.
Diesel engines in motor vehicles, commercial and industrial are in demand in some parts of the world, showing top sale of diesel based engine vehicles in countries in North America and Asia Pacific. As compared to petrol engines, diesel engines offer better efficacy and mileage. Diesel engines application are countless and in today’s market car manufacturing companies are focused on diesel engines and their application in near future to make its demand fulfilled in some parts of the world. Diesel engines in motor vehicles are anticipated to grow at a steady rate, demand from other applications areas are projected to increase.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Diesel engines in motor vehicles are anticipated to grow at a steady rate, demand from other applications areas are projected to increase. Diesel engine market exhibit high thermal efficiency, also penetration across several application areas including construction, automobiles, power & gas are estimated to further influence the diesel engine market growth over the forecast period. However, issues such as high-cost production of diesel engine may hamper the market growth over the forecast period. The need to improve engines that help limit harmful emissions without degrading performance may pose to be a challenge to the diesel engine market growth. A strengthening commercial transport network in countries (Asia pacific, Latin America, and the Middle East and Africa) is expected to have XX% growth in Forecast period.
Based on vehicle type, the diesel engine market is segmented into agricultural vehicle, commercial vehicle, passenger vehicle, construction vehicle. The commercial vehicle segment will surge the overall diesel engine market, due to high demand for trucks, pick up and buses around the world. Report has analysis of diesel car sold in 2019 around the globe, within pick up cars had more demand in USA and some other countries. Agricultural vehicle are the second largest consumer in terms of value thanks to high utilization of diesel engines in farm equipment.
Decrease in labour availability and increase in labour cost would also lead to growth in agriculture vehicle sector. Countries in Asia Pacific will focus on small vehicle with compact diesel engine, due to population and inconvenience of using large vehicle in India, China, etc. Passenger vehicle like microcar, subcompact car, Economy Car, Compact car, Mid-size car, Entry-level luxury car, Full-size car, Mid-size luxury car, MPV, Minivan, Mini SUV and many more have diesel engine. Construction vehicle have steady demand and will surge in developing countries.
Geographically, the diesel engine market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. The market in Asia Pacific is expected to expand at a CAGR of X5% during the forecast period owing to the increasing demand in countries such as China and India. The number of diesel vehicles on the roads is among the highest in Asia Pacific countries. However, companies in the global diesel engines market are finding themselves faced with growing regulatory pressure.
North America and Europe are also projected to grow at a significant rate of X7%. Handful of key players such as Caterpillar, Mitsubishi, Cummins, and MAN are dominating in the global diesel engines market. These companies have a strong presence in Asia Pacific, Europe, and North America. A common strategy of the key players is to focus on manufacturing operations in Asian countries to gain the benefits of lower labour rates, regulatory environment, and low making costs, moreover R&D of design operation of these companies are carried out in countries like India, Japan, China, Indonesia, etc.
The objective of the report is to present a comprehensive analysis of Global Diesel Engine Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Diesel Engine Market dynamics, structure by analyzing the market segments and project the Global Diesel Engine Market size. Clear representation of competitive analysis of key players By Type, Price, Financial position, Product portfolio, Growth strategies, and regional presence in the Global Diesel Engine Market make the report investor’s guide.
Global Diesel Engine Market, by Engine Type
• Turbo Engine
• Agricultural vehicle
• North America
• ACGO Corporation
For more information of visit:https://www.maximizemarketresearch.com/market-report/diesel-engine-market/14704/
This report submitted by Maximize market Research Company
Like it? Share it!
About the Authormanisha
Joined: June 26th, 2020
Articles Posted: 99
More by this author