In a recent published report, Kenneth Research has updated the market report for Diesel Power 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 Power Engine Market products.
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On the other hand, the increasing focus of the players in the energy and power industry to lower their cost of operations so as to enhance their profitability, is also anticipated to contribute to the market growth. The natural gas rents, which is defined as the difference between the total cost of production of natural gas and the production value at world prices, decreased significantly from 0.40% of GDP in 2001 to 0.18% of GDP in 2017. Alternatively, the oil rents, which increased from 1.09% of GDP in 2001 to 1.30% of GDP in 2019, portrays the need amongst the players to enhance their focus in reducing the cost of production of oil.
Global Diesel Power Engine Market was valued at USD 8.05 Billion in the year 2017. Global Diesel Power Engine Market is further estimated to grow at a CAGR of 4.84% from 2018 to 2023 to reach USD 10.69 Billion by the year 2023. Asia-Pacific region holds the highest Market share in 2017. At country level China, Japan and India are projected to grow at a strongly in the coming years.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The major market players in Diesel Power Engine Market are Cummins Inc., Caterpillar Inc., Yanmar Co. Ltd., Man Diesel & Turbo SE, Tohatsu Corporation, Wartsila, Mitsubishi Heavy Industries Ltd., Rolls-Royce Power Systems AG, Brunswick Corporation, John Deere & Company. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
SWOT Analysis of Diesel Power Engine Market
Strength:
Growth in Infrastructure
Weakness:
High maintenance and operation cost
Opportunities:
Hybrid power generation is growing
Threats:
Government Regulation
Diesel Power Engine Market Overview By Vertical Market
Commercial
Residential
Industrial
Diesel Power Engine Market Overview By Power
Up to 0.5 MW
0.5-1 MW
1-2 MW
2-5 MW
Above 5 MW
Diesel Power Engine Market Overview By Type
Peak Shaving
Standby
Prime/Continuous
Diesel Power Engine Market Overview By Region
North America
• USA
• Canada
Europe
• Germany
• U.K.
• France
• Italy
• Rest of Europe
APAC
• China
• India
• Japan
• Rest of Asia-Pacific
RoW
• Latin America
• Middle East & Africa
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