Increase in Demand for Reliable Power Supply Followed by Growing Manufacturing & Process Industries to Drive the Global Diesel Engines Market Over the Forecast Period: Ken Research
Diesel engine is an internal/interior combustion engine in which air is compressed to an adequately high temperature to ignite diesel fuel inserted into the cylinder, where combustion & expansion actuate a piston. It is also known as compression-ignition (CI) engine which converts the chemical energy into mechanical energy which is stored as a fuel. In diesel engines energy is used to power freight trucks, locomotives, large tractors, and marine vessels. The diesel engines have the highest engine efficiency (thermal efficiency) for all practical external or internal combustion engine owing to high expansion ratio & inherent lean burning which enables heat dissipation through the excess air. Some of the other essential benefits are good lubrication properties, low risk of catching fire, low fuel costs, good exhaust emission behavior and easily synthesized.
According to study, “Global Diesel Engines Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” some of the major companies that are currently working in the global diesel engines market are Cummins, AGCO Corp., Daimler, Caterpiller, VOLVO, MAN, Yanmar, Mitsubishi Heavy Industries (MHI), Wartsila, Bosch, Delphi Automotive, Deere & Company, Weichai, Deutz, Kubota, Fairbanks Morse, Ford Motor, MAN SE, General Motors, Continental AG, Yunnei Power, GE Transportation, Quanchai, Changchai, Detroit Diesel, DFAC, China FAW Group, Yuchai, Rolls-Royce, Kohler, Henan Diesel Engine Industry, FOTON, JMC, CNHTC, Hatz Diesel.
Based on type, global diesel engines market is segmented into small, medium & large diesel engines, single cylinder diesel engines and multi cylinder diesel engines. Based on engine type, market is segmented into conventional engine and turbo engine. Based on power output, market is segmented into large >750KW, medium 188-750KW and small <188KW. Based on number of strokes, market is segmented into two stroke cycle and four stroke cycle. Two stroke diesel engines are used in portable equipments for instance chainsaws and motorcycles; while four stroke diesel engines are used in heavy end equipments.
Based on cylinder bore, market is segmented into high performance and high speed engines, low speed two stroke engines, passenger car engines, medium speed engines and lorry & commercial vehicle engines. Based on piston & connecting rod, market is segmented into opposed piston, double acting piston, cross head piston, trunk piston and double-acting piston. Based on application use, market is segmented into construction, industrial, automotive, agriculture and others. In addition, based on end-user, market is segmented as off-road diesel engine and on-road diesel engine. The off-road diesel engine is further sub-segmented into agriculture equipment diesel engine, marine diesel engine and industrial or construction equipment diesel engine. On-road diesel engine is sub-segmented into light vehicles diesel engine, light trucks diesel engine and medium or heavy trucks diesel engine. The on-road segment is the major end-user of the global market on an account of better operational efficiency and increase in demand for commercial vehicles compared to conventional engines.
The global diesel engines market is driven by increase demand for reliable power supply followed by growing manufacturing & process industries, high investments in mining & construction industry, growing popularity of plug-in electric vehicles (PEVs) and rise in power generation capacity. Apart from the major benefits, high cost is a major factor impacting the market.
In 2019, the global diesel engines market is reached at US $68700 million and it is expected that this market will be reached at US $57400 million, by 2024.
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Ankur Gupta, Head Marketing & Communications