Global Diesel Engine Market is projected to be valued $334 Billion by 2025; with a CAGR of 7% from 2017 to 2025. 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.
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.
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.
Scope of Diesel Engine Market
End User Segments