In a recent published report, Kenneth Research has updated the market report for Diesel Engine Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Diesel Engine Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Diesel Engine Market is estimated to reach $332.7 Billion by 2024; growing at a CAGR of 6.8% from 2016 to 2024. Diesel engine is an internal combustion engine in which air is compressed to an adequately high temperature to ignite diesel fuel inoculated into the cylinder, where expansion and combustion trigger a piston. A diesel engine converts chemical energy stored in the fuel into mechanical energy which is used to power large tractors, freight trucks, locomotives, and marine vessels. Diesel engines are attracting various applications owing to its cost effectiveness and higher efficiency. A limited number of automobiles also are diesel-powered, as are some electric-power generator sets.
The global diesel engine market is mainly driven by factors such as surging demand for heavy-end equipment across several industries, and growing need for construction and auxiliary power equipment. However, growing popularity of electric vehicles is the major hindrance for the market growth. Moreover, the rising adoption of diesel engine in marine transportation is likely to gain significant impetus for the market in the forthcoming years.
End-user and geography are the segmentation considered in the global diesel engine market. The end-user segment is bifurcated into on-road diesel engine, and off-road diesel engine. The on-road diesel engine is further categorized into light vehicles diesel engine, medium/heavy truck diesel engine, and light trucks diesel engine. Furthermore, the off-road diesel engine is segregated on the basis of agriculture equipment diesel engine, industrial/construction equipment diesel engine, and marine diesel engine.
On the basis of geographical analysis, the global diesel engine market is segmented in North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico, whereas Europe segment consists of UK, Germany, France, Russia, Italy and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East and Africa.
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The major market players include ACGO Corporation, Robert Bosch GmbH, Deere & Company, Mitsubishi Heavy Industries, Ltd., FAW Group, General Motors, MAN SE, Continental AG, Ford Motor and GE Transportation, among others.
The key takeaways from the report
The report will provide detailed analysis of Global Diesel Engine Market with respect to major segments such as end-user and geography
The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Diesel Engine Market has been included in the report
Profile of the key players in the Global Diesel Engine Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Diesel Engine Market
End-User Segments
On-Road Diesel Engine
Light Vehicles Diesel Engine
Medium/Heavy Trucks Diesel Engine
Light Trucks Diesel Engine
Off-Road Diesel Engine
Agriculture Equipment Diesel Engine
Industrial/Construction Equipment Diesel Engine
Marine Diesel Engine
Geographical Segments
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North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Russia
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
RoW
South America
Middle East
Africa
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