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Market Overview of Global Diesel Engine market:
According to our latest research, the global Diesel Engine market looks promising in the next 5 years. As of 2022, the global Diesel Engine market was estimated at USD XX million, and it's anticipated to reach USD XX million in 2028, with a CAGR of XX% during the forecast years.
The diesel engine, named after Rudolf Diesel, is an internal combustion engine in which ignition of the fuel is caused by the elevated temperature of the air in the cylinder due to the mechanical compression; thus, the diesel engine is a so-called compression-ignition engine. It converts the chemical energy stored in the fuel into mechanical energy, which can be used to power freight trucks, large tractors, locomotives, and marine vessels. A limited number of automobiles also are diesel-powered, as are some electric-power generator sets.
Raw material prices fluctuate
At the beginning of 2020, the COVID-19 disease started to spread around the world, millions of people were infected with COVID-19 disease around the world, and major countries around the world implemented stay-at-home orders and stop-work orders. With the exception of the medical supplies and life support products industries, most industries have been significantly affected, and the diesel engine industry has also been significantly affected. Steel is one of the main raw materials for diesel engines. With the global spread of COVID-19, major countries around the world have imposed traffic restrictions and lockdowns, affecting most of the manufacturing industry. This directly led to a decline in the demand for steel. In response to the reduced demand caused by the new crown pneumonia epidemic, major steel companies have temporarily adjusted production through some measures. But as the epidemic situation gradually improved and many places reopened, supply failed to keep up with demand, causing prices to rise. Other raw material prices have been more or less affected by the pandemic.
Demand market changes
The COVID-19 outbreak has shut down several manufacturing plants around the world. The pandemic has caused huge revenue losses for end industries. Most of the manufacturing industry has been severely affected, which has dealt a very serious blow to the diesel engine market. The diesel engine market is also impacted by the traffic blockade policies implemented by most countries to limit the spread of covid-19, and the contraction of the automotive and marine industries has negatively affected the diesel engine market. However, with the gradual recovery of global production activities, the demand market is expected to usher in a rebound.
Advantages of Diesel Engines
Diesel engines are also internal combustion engines. However, in a diesel engine, there is no carburetor. Only air is compressed to a higher pressure and fuel is injected into the compressed air. When the fuel and air mix, the fuel vaporizes and ignites (hence the name compression ignition). The pressure used in the engine is almost twice that of a gasoline engine. Diesel engines have higher thermal efficiency, durability and more torque than other fuel engines. Due to these advantages, these engines are widely used in various industries such as mining, construction and agriculture. In addition, diesel engines are often used as emergency and backup generators. The quick start capability of diesel engines (usually within 10 seconds) makes them particularly attractive in this regard. These advantages are therefore beneficial to the development of the diesel engine industry.
The threat of substitutes
Sulfur emissions are found in diesel engines burning sulfur-containing fuels. Many engines now use low-sulfur fuels with less than 0.05% sulfur. However, some diesel fuels and heavy fuel oils burned by large engines can contain large amounts of sulfur. The popularity of alternative propulsion systems, such as LNG engines and steam turbines, is increasing as allowable sulfur emission levels fall worldwide. The marine industry, one of the key downstream sectors of the Malaysian diesel engine market, is expected to see an increase in demand for alternatives such as natural gas engines following the implementation of the new MARPOL sulphur emission standard from January 2020, which in turn will dampen Malaysian diesel engines market growth.
Growing Import and Export Industry
The growth of the import and export industry is conducive to the development of the diesel engine market. Malaysia is located in a geographically and strategically important maritime location in the world. Despite having only 1% of the world fleet, the country accounts for 3.28% of container ports. Sea shipping is the most important trade and business model in Malaysia, with approximately 95% of trade being carried by water. Amid the growing import and export industry in the country, the marine and trading industry is expected to generate a large demand for new ships, which is also contributing to the growth of the diesel engine market.
Company Overview:
Cummins Inc. is one of the major players operating in the Diesel Engine market, holding a share of 21.66% in 2023.
Cummins Inc.
Cummins specializes in diesel and alternative fuel engines and generators, and related components and technology.
Caterpillar Inc.
Caterpillar Inc. is an American Fortune 100 corporation that designs, develops, engineers, manufactures, markets, and sells machinery, engines, financial products, and insurance to customers via a worldwide dealer network. It is the world's largest construction-equipment manufacturer.
Segmentation Overview:
As for product types, the Multi-cylinder engine segment held the largest market share in 2022.
Single cylinder engine
A single-cylinder engine is a piston engine with one cylinder. Single-cylinder engines are usually simpler and compact.
Multi-cylinder engine
Multi-cylinder engines have multiple cylinders, which helps smooth power delivery.
Application Overview:
By application, the Vehicles segment occupied the biggest share from 2018 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Diesel Engine market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Diesel Engine Market Report:
Market Size Estimates: Diesel Engine market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Diesel Engine market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Diesel Engine market
Segment Market Analysis: Diesel Engine market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Diesel Engine market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Diesel Engine Market: Revenue and sales volume of major countries in each region
Diesel Engine Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Diesel Engine market in major regions.
Diesel Engine Industry Value Chain: Diesel Engine market raw materials & suppliers, manufacturing process, distributors, downstream customers
Diesel Engine Industry News, Policies & Regulations
Key players in the global Diesel Engine market are covered in Chapter 12:
Yanmar Holdings Co., Ltd.
Cummins Inc.
Wartsila
DEUTZ AG
Kubota
Mercury Marine
Caterpillar Inc.
Mitsubishi Heavy Industries Engine System Asia Pte Ltd.
In Chapter 2 and Chapter 15.1, based on types, the Diesel Engine market from 2018 to 2028 is primarily split into:
Single cylinder engine
Multi-cylinder engine
In Chapter 3 and Chapter 15.2, based on applications, the Diesel Engine market from 2018 to 2028 covers:
Vehicles
Ships
Industry Machinery
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Diesel Engine market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028