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According to the market report published by MarketsandMarkets™ “Diesel Power Engine Market by Operation (Standby, Prime, and Peak Shaving), Rated Power (Up To 0.5 MW, 0.5–1 MW, 1–2 MW, 2–5 MW, and Above 5 MW), End-User (Industrial, Commercial, Residential), and Region – Global Forecast to 2022″, The diesel power engine market is expected to grow from an estimated value of USD 7.58 Billion in 2017 to USD 9.13 Billion by 2022, at a CAGR of 3.78% from 2017 to 2022. The global market is set to witness growth due to the increasing demand for uninterrupted and reliable power supply in developing countries and the growing urbanization and industrialization, which has increased the power density in such areas.
The standby segment is expected to hold the largest share of the diesel power engine market, by operation, during the forecast period.
The standby segment is expected to hold a major share of the diesel power engine market during the forecast period. Standby engines are used in hospitals, datacenters, shopping malls, and others. The increasing electrification rate in developing countries along with increased spending in improving transmission and distribution network is anticipated to drive the standby generator sales during the forecast period. Market players such as Caterpillar, Cummins, MAN SE, Rolls-Royce, Mitsubishi Heavy Industries, and Kohler offer standby engines for power generation.
Browse and in-depth TOC on “Diesel Power Engine Market”
69 – Tables
45 – Figures
161 – Pages
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The Industries segment is expected to be the largest end-user segment of the diesel power engine market during the forecast period.
The industries segment is expected to be the largest diesel power engine market from 2017 to 2022. This segment is expected to grow at the highest rate during the forecast period. The major industries include cement, datacenter, metals and mining, automotive, and oil & gas. These industries require an uninterrupted and reliable power supply. Moreover, diesel power engines are deployed by end-users to address problems such as load shedding, load restoration, emergency backup, and power generation in remote locations among others.
Asia Pacific: The fastest growing market for diesel power engines
In this report, the diesel power engine market has been analyzed with respect to five regions, namely, Asia Pacific, North America, Europe, the Middle East & Africa, and South America. The market in Asia Pacific is expected to dominate the global diesel power engine market due to the increasing demand for reliable power generation and urbanization in the region. The Chinese market is expected to dominate the diesel power engine market in the Asia Pacific region. Also, the diesel power engine market is expected to grow at a high rate in India and South-East Asian countries. Increasing manufacturing activities and power generation capacity additions in these countries are the key factors driving the growth of the diesel power engine market.
Key Market Players –
Caterpillar Inc., Wartsila, Cummins Inc., Rolls-Royce, and Mitsubishi Heavy Industries Ltd., Doosan, Hyundai Heavy Industries, Kohler, Kubota Corporation, and Mitsubishi Heavy Industries.
Caterpillar, Inc. is a US-based manufacturer of diesel and natural gas engines, construction and mining equipment, diesel-electric locomotives, and industrial gas turbines. The company provides products and services for construction, transportation, mining, forestry, energy, logistics, electronics, financing, and electric power generation. The company principally operates its Machinery, Energy & Transportation segment through its three segments, which include construction industries, resource industries, and energy & transportation. The company also provides financing and related services through its financial products segment. Caterpillar has adopted contracts & agreements along with new product launches as its key growth strategies. In 2016, the company invested approximately USD 2 billion in R&D and launched several new products as per industrial and environmental requirements, thereby intensifying its focus on product innovation. In 2017, the company launched four new products, such as the Cat 3516E diesel engine generator for standby application, and five 50-Hz standby power nodes for its Cat 3516C diesel engine generator set, among others
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