Global Diesel Power Engine Market Report and Forecast 2024-2032

Global Diesel Power Engine Market Outlook

The global diesel power engine market size reached nearly USD 8.75 billion in 2023. The market is projected to grow at a CAGR of 4.7% between 2024 and 2032 to reach a value of around USD 13.23 billion by 2032.

Key Trends in the Market

A diesel power engine refers to a kind of internal combustion engine which converts diesel fuel energy into rotatory mechanical energy. Diesel engine design can be based on a two-stroke or four-stroke cycle.

• The growing applications of diesel power engines in various sectors, such as agriculture, marine, mining, and construction, among others, owing to the increasing demand for electricity, are driving the diesel power engine market growth.

• Increasing demand for diesel power engines in the healthcare sector to power life support machines and prepare hospitals against power outages is adding to the market growth. In addition, the rising healthcare expenditure by governments is a key driver of the market.

• Diesel power engine is a crucial power backup solution in data centres. In this regard, the rapid development of data centres across developing countries is one of the key diesel power engine market trends.

Market Analysis

Based on operation, the market is segmented into standby, prime, and peak shaving. On the basis of power rating, the market is classified into below 1 MW, 1 to 5 MW, and more than 5 MW. By end use, the diesel power engine market segmentation includes industrial, commercial, and residential. The major regional markets of diesel power engines include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global diesel power engine market report, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Caterpillar Inc.

• Cummins Inc.

• Kohler Co.

• AB Volvo

• Mitsubishi Heavy Industries, Ltd.

• Wärtsilä Corporation

• KUBOTA Corporation

• IHI Corporation

• Yanmar Holdings Co., Ltd

• Daihatsu Diesel Mfg.Co.,Ltd.

• Others

Market Share by Operation

The standby segment accounts for a significant portion of the diesel power engine market share. This can be attributed to the rapid start capability of standby diesel power engines, making them ideal for emergency situations requiring immediate power supply.

The rising applications of diesel power engines across construction sites are also propelling the growth of the segment forward. In addition, rapid urbanisation and the increasing population levels in emerging economies are expected to heighten the adoption of diesel power engines in the forecast period.

Market Share by Region

As per the diesel power engine market analysis, the Asia Pacific is likely to experience a healthy growth. Rapid industrialisation across emerging economies such as India and China, coupled with a strong foothold of local diesel engine manufacturers, is driving the market growth in the region. Rising investments in residential construction projects in various countries, like India, Indonesia, and China, are further escalating the installation of diesel power engines.

Competitive Landscape

Caterpillar Inc. is a company which manufactures construction and mining equipment, diesel and natural gas engines, and industrial turbines, among other products. It was founded in 1925 and is headquartered in Texas, the United States.

Cummins Inc. is a multinational corporation which manufactures and sells engines and filtration and power generation products, among others. The company was founded in 1919 and is headquartered in Indiana, the United States.

Kohler Co. is a company which manufactures solutions such as diesel engines, industrial generators, and continuous power solutions, among others. It was founded in 1873 and is headquartered in Wisconsin, the United States.

Other diesel power engine market players include AB Volvo, Mitsubishi Heavy Industries, Ltd., Wärtsilä Corporation, KUBOTA Corporation, IHI Corporation, Yanmar Holdings Co., Ltd, and Daihatsu Diesel Mfg.Co.,Ltd., among others.

Key Highlights of the Report