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Diesel Power Engine Market Size (2024 - 2029)

The diesel power engine market is projected to experience growth over the forecast period, driven by rising demand from the industrial sector and increased power outages, which boost the need for diesel generators. However, the market's expansion may be constrained by the shift towards natural gas engines due to their environmental benefits. Despite this, the growing popularity of hybrid power diesel generators offers significant opportunities for market participants. The Asia-Pacific region is anticipated to be the largest and fastest-growing area, with substantial demand originating from countries such as India and China.

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Market Size of Diesel Power Engine Industry

Diesel Power Engine Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 11.55 Billion
Market Size (2029) USD 15.74 Billion
CAGR (2024 - 2029) 6.39 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Diesel Power Engine Market Major Players

*Disclaimer: Major Players sorted in no particular order

Diesel Power Engine Market Analysis

The Diesel Power Engine Market size is estimated at USD 11.55 billion in 2024, and is expected to reach USD 15.74 billion by 2029, growing at a CAGR of 6.39% during the forecast period (2024-2029).

  • Over the medium period, factors such as the increasing demand from the industrial sector and rising power outages have increased the demand for diesel generators, thereby driving the diesel power engine market.
  • On the other hand, the abundance of natural gas, coupled with its environmental soundness, has led to an increasing shift toward natural gas engines as an alternative to diesel engines in various end-user industries and is expected to restrain the growth of the diesel engine market during the forecast period.
  • Nevertheless, the increasing popularity of hybrid power diesel generators presents immense opportunities for the diesel power engine market players in the coming years.
  • Asia-Pacific is expected to be the largest and fastest-growing market, with the majority of the demand coming from countries like India and China.

Diesel Power Engine Industry Segmentation

A diesel power engine is an internal combustion engine in which compressed air is heated to a high enough temperature to ignite diesel fuel pumped into the cylinder, where combustion and expansion operate a piston.

The diesel power engine market is segmented by end user, application, and geography. By end user, the market is segmented into industrial, commercial, and residential. By application, the market is segmented into standby, prime, and peak shaving. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The report also covers the market size and forecasts for the diesel power engine market across major regions. For each segment, the market sizing and forecasts were made based on revenue (USD).

By End User
Industrial
Commercial
Residential
By Application
Standby
Prime
Peak Shaving
By Geography
North America
United States
Canada
Rest of North America
Europe
United Kingdom
France
Germany
Spain
Rest of Europe
Asia-Pacific
China
India
ASEAN Countries
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
Nigeria
South Africa
Rest of Middle East and Africa
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Diesel Power Engine Market Size Summary

The diesel power engine market is poised for significant growth over the forecast period, driven by increasing demand from the industrial sector and the need for reliable power sources amid rising power outages. Diesel engines are particularly favored in industries such as construction, manufacturing, healthcare, oil and gas, telecommunications, and data centers due to their reliability and quality power supply. The industrial sector, which consumes substantial power for operations, is expected to dominate the market, with diesel engines serving as crucial backup power sources to prevent disruptions that can lead to financial losses and low-standard production. Despite the growing popularity of natural gas engines as a more environmentally friendly alternative, the emergence of hybrid power diesel generators offers new opportunities for market players.

Asia-Pacific is anticipated to be the largest and fastest-growing market for diesel power engines, with China and India leading the demand due to rapid industrialization and infrastructural developments. China's expansive construction activities and infrastructure projects, coupled with India's focus on smart city missions and large-scale infrastructure development, are expected to drive the market's growth. The region's burgeoning manufacturing industry further contributes to the increasing energy demands, bolstering the need for diesel generators. Key players in the semi-fragmented market, such as Caterpillar Inc., Cummins Inc., and Mitsubishi Heavy Industries, are actively introducing new technologies and products to meet stringent emissions standards and enhance the efficiency of diesel engines, supporting the market's expansion.

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Diesel Power Engine Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast, till 2029

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Increasing Demand From Industrial Sector

        2. 1.5.1.2 Rising Power Outages To Increase The Demand For Diesel Generators

      2. 1.5.2 Restraints

        1. 1.5.2.1 Increasing Shift Toward Cleaner Energy Resources

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By End User

      1. 2.1.1 Industrial

      2. 2.1.2 Commercial

      3. 2.1.3 Residential

    2. 2.2 By Application

      1. 2.2.1 Standby

      2. 2.2.2 Prime

      3. 2.2.3 Peak Shaving

    3. 2.3 By Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

        2. 2.3.2.2 France

        3. 2.3.2.3 Germany

        4. 2.3.2.4 Spain

        5. 2.3.2.5 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 ASEAN Countries

        4. 2.3.3.4 Australia

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 Nigeria

        3. 2.3.5.3 South Africa

        4. 2.3.5.4 Rest of Middle East and Africa

Diesel Power Engine Market Size FAQs

The Diesel Power Engine Market size is expected to reach USD 11.55 billion in 2024 and grow at a CAGR of 6.39% to reach USD 15.74 billion by 2029.

In 2024, the Diesel Power Engine Market size is expected to reach USD 11.55 billion.

Diesel Power Engine Market Report Snapshots

Diesel Power Engine Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)