Growing demand for heavy-end equipments across several industries is expected to be the key factor driving the diesel engine market growth over the next few years. Diesel engines exhibit high thermal efficiency, which is also expected to fuel market demand. Increasing penetration across several application areas including construction, automobiles, power & gas etc. is expected to further impact the diesel engine market growth over the forecast period.
Surging demand for construction and auxiliary power equipments provides several market growth opportunities. The diesel engine market growth is poised for growth owing to technological proliferation and rise in gasoline prices. High investments in mining and construction industry are also expected to fuel market demand over the next few years. However, issues such as high-cost diesel engine may hinder market growth over the forecast period. The need to develop engines that help limit harmful emissions without degrading performance may pose to be a challenge to the diesel engine market growth. The market can be segmented in to two and four stroke engines. Two stroke diesel engines are primarily used in portable equipments such as motorcycles and chainsaws; whereas four stroke diesel engines are used in heavy-end equipments.
Asia-Pacific is expected to grow considerably over the forecasted period. This can be attributed primarily to increasing demand in countries such as China and India. North America and Europe are also estimated to grow at a significant rate over next six years. Key players in the diesel engine market include ACGO Corporation, China FAW Group, Bosch, Deere & Company, Continental AG, Delphi Automotive, Mitsubishi Heavy Industries, Ford Motor, General Motors and MAN SE etc.
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