Global Diesel Engine Market 2016-2020
Market outlook of the diesel engine market
Technavio’s research analyst predicts the global diesel engine market to grow steadily at a CAGR of 9% during the forecast period. The market growth is dependent on the growth of the automotive industry globally. A diesel engine is employed in passenger, heavy-duty, and commercial vehicles. Due to its better operational efficiency in terms of mileage, a diesel engine is preferred over the petrol engine for commercial purposes.
The market has been seeing a broad range of product enhancements and developments to comply with the standards and regulations of various regions such as Euro VI in Europe. One such development is the incorporation of exhaust after-treatment technology with the diesel engine. This technology enables low emissions from diesel engines and increases their efficiency and is likely to see increased market penetration in the coming years. Such product developments are expected to aid the market growth in the next four years.
End-user segmentation and analysis of the diesel engine market
The on-road segment comprises light, medium, and heavy trucks, whereas the off-road segment consists of agriculture equipment, industrial/construction equipment, and marine applications. The on-road segment dominated the market in 2015. This dominance is expected to continue until the end of the forecast period owing to the growing demand for diesel-powered passenger cars.
Geographical segmentation and analysis of the diesel engine market
APAC accounted for the highest market share in 2015. The demand for diesel engines is expected to rise owing to the high growth of the automotive industry and the growing construction activities in this region. The region is witnessing an increased demand for diesel-powered passenger vehicles from countries such as China, India, and Vietnam. Also, there has been increased investments in the construction market in APAC, which has driven the demand for diesel-powered construction equipment such as earthmoving and material handling equipment. This in turn has propelled the demand for diesel engines.
Competitive landscape and key vendors
The market is dominated by few large players. These players are focused on increasing their R&D expenditure so that they can design their products that comply with set standards and regulations. Also, they are trying to achieve cost advantage by locating their manufacturing base in Asian countries such as China and India that offer easy availability of raw materials and low labor cost.
The leading vendors in the market are -
Other prominent vendors in the market include Detroit Diesel, Deutz, Fairbanks Morse, GE Transportation, HATZ Diesel, Henan Diesel Engine Industry, Isuzu, Rolls-Royce, Volvo, and Wartsila.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global diesel engine market?
- What are the key market trends impacting the growth of the diesel engine market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global diesel engine market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the diesel engine market?
Technavio also offers customization on reports based on specific client requirement.
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