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The dual fuel engine market share is expected to increase by 2.85 billion units from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.95%.
This dual fuel engine market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers dual fuel engine market segmentation by end-user (marine industry and power generation industry) and geography (APAC, Europe, North America, MEA, and South America). The dual fuel engine market report also offers information on several market vendors, including Anglo Belgian Corp., Caterpillar Inc., Cummins Inc., Heinzmann GmbH and Co. KG, Kubota Corp., MAN Energy Solutions SE, Wartsila Corp., Westport Fuel Systems Inc., Woodward Inc., and Yanmar Holdings Co. Ltd. among others.
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The stringent regulations on NOx emissions is notably driving the dual fuel engine market growth, although factors such as efficiency problems may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the dual fuel engine industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Dual Fuel Engine Market Driver
One of the key factors driving growth in the dual fuel engine market is the stringent regulations on NOx emissions. Diesel emissions have a detrimental impact on the environment, especially on air quality. This has been the primary subject of recent environmental studies, which has further led to necessary changes in diesel emission regulations. Following the rise in awareness about emission regulations, diesel engine manufacturers must ensure that their products have high-performance levels while meeting stringent emission norms. The challenge lies in the reduction of NOx at the source to avoid cost-intensive measures. The current models of diesel engines are the cleanest combustion engines on the market. To comply with stringent government regulations, such as those imposed by the US EPA or the EU, engine manufacturers need to embrace the strict legislations of Tier IV when operating in the US and Stage III and IV standards when operating in Europe.
Key Dual Fuel Engine Market Trend
Ammonia gas as a substitute for natural gas in dual fuel engines is another factor supporting the dual fuel engine market share growth. The use of ammonia gas as a fuel source in dual-fuel applications is relatively a novel idea. A significant reduction in COâ, NOx, and PM emission levels is observed when ammonia is used as a fuel. Ammonia is a high-octane fuel, which possesses a high level of resistance to pre-ignition. Engines using ammonia as a fuel source have enhanced power output compared with when gasoline or diesel is used in the same engine. Both these properties of ammonia, when combined, provide significantly high engine efficiency. This has encouraged the design and development of engines that can take advantage of using ammonia as a fuel source. Owing to several benefits that ammonia gas offers, various research organizations are focusing on studying the effective use of ammonia in dual fuel engines.
Key Dual Fuel Engine Market Challenge
The efficiency problems will be a major challenge for the dual fuel engine market during the forecast period. With the increasing use of dual fuel engines, various types of fuels are used to operate them. Propane, cleaned biogas, and hydrogen are being used as alternatives to natural gas. Such gasses usually have some amounts of contaminants such as siloxanes and hydrogen sulfides. The efficiency of dual fuel engines must deal with changing fuel types, and the combustion ratio is usually set at a high end to achieve maximum efficiency. Various gasses are formed using waste products, and they all possess different properties. This increases the need for maintenance and lubrication of engines
This dual fuel engine market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global dual fuel engine market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the dual fuel engine market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the dual fuel engine market encompasses successful business strategies deployed by the key vendors. The dual fuel engine market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Anglo Belgian Corp. - The company offers dual fuel engine solutions for 12 cylinder V engines with four-stroke and direct fuel injection, under the Genset name 12DZD.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The dual fuel engine market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the dual fuel engine market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the industrial machinery market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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43% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for dual fuel engines in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The high demand from the marine and power sectors will facilitate the dual fuel engine market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the region was severely affected due to the COVID-19 pandemic, which led to the suspension of industrial activities, such as shipbuilding and power plant construction. Thus, this negatively impacted the regional dual fuel engine market. However, major countries such as South Korea, Japan, and China have started vaccination drives, which has resulted in the low number of daily COVID-19 cases and the removal of restrictions. Thus, this has led to the restoration of industrial activities, such as shipbuilding and power generation projects. Hence, the regional market is expected to grow during the forecast period
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The dual fuel engine market share growth by the marine industry segment will be significant during the forecast period. The growth of the modern maritime industry is driven by the increasing globalization of world trade. This is connecting the emerging markets with the developed markets. High mechanical reliability and easy operability have made diesel engines the most extensively adopted propulsion method in the marine industry. Well-established spare parts and repair networks, the availability of a deep pool of trained engineers, and established training facilities have further driven the demand for diesel marine propulsion engines.
This report provides an accurate prediction of the contribution of all the segments to the growth of the dual fuel engine market size and actionable market insights on post COVID-19 impact on each segment.
Dual Fuel Engine Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 8.95%
Market growth 2021-2025
2.85 bn units
YoY growth (%)
APAC, Europe, North America, MEA, and South America
Performing market contribution
APAC at 43%
Key consumer countries
China, US, India, Germany, and GCC
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Anglo Belgian Corp., Caterpillar Inc., Cummins Inc., Heinzmann GmbH and Co. KG, Kubota Corp., MAN Energy Solutions SE, Wartsila Corp., Westport Fuel Systems Inc., Woodward Inc., and Yanmar Holdings Co. Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
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***1. Executive Summary
***2. Dual Fuel Engine Market Landscape
**2.1 Market ecosystem
*Exhibit 01: Parent market
*Exhibit 02: Market Characteristics
**2.2 Value Chain Analysis
*Exhibit 03: Value chain analysis: Industrial machinery
*2.2.2 Inbound logistics
*2.2.4 Outbound logistics
*2.2.5 Marketing and sales
*2.2.6 Aftermath and Services
*2.2.7 Industry Innovations
***3. Dual Fuel Engine Market Sizing
**3.1 Market definition
*Exhibit 04: Offerings of vendors included in the market definition
**3.2 Market segment analysis
*Exhibit 05: Market segments
**3.3 Market size 2020
**3.4 Market outlook: Forecast for 2020 - 2025
*3.4.1 Estimating growth rates for emerging and high-growth markets
*3.4.2 Estimating growth rates for mature markets
*Exhibit 06: Global - Market size and forecast 2020 - 2025 (million units)
*Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
***4. Five Forces Analysis
**4.1 Five Forces Summary
*Exhibit 08: Five forces analysis 2020 & 2025
**4.2 Bargaining power of buyers
*Exhibit 09: Bargaining power of the buyer
**4.3 Bargaining power of suppliers
*Exhibit 10: Bargaining power of the supplier
**4.4 Threat of new entrants
*Exhibit 11: Threat of new entrants
**4.5 Threat of substitutes
*Exhibit 12: Threat of substitutes
**4.6 Threat of rivalry
*Exhibit 13: Threat of rivalry
**4.7 Market condition
*Exhibit 14: Market condition - Five forces 2020
***5. Dual Fuel Engine Market Segmentation by End user
**5.1 Market segments
*Exhibit 15: End-User - Market share 2020-2025 (%)
**5.2 Comparison by End-User
*Exhibit 16: Comparison by End-user
**5.3 Marine industry - Market size and forecast 2020-2025
*Exhibit 17: Marine industry - Market size and forecast 2020-2025 (million units)
*5.3.1 Impact of global marine propulsion engine market
*Exhibit 18: Marine industry - Year-over-year growth 2020-2025 (%)
**5.4 Power generation industry - Market size and forecast 2020-2025
*Exhibit 19: Power generation industry - Market size and forecast 2020-2025 (million units)
*Exhibit 20: Power generation industry - Year-over-year growth 2020-2025 (%)
**5.5 Market opportunity by End-User
*Exhibit 21: Market opportunity by End-User
***6. Customer landscape
*Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
**6.1 Customer landscape
*Exhibit 22: Customer landscape
***7. Geographic Landscape
**7.1 Geographic segmentation
*Exhibit 23: Market share by geography 2020-2025 (%)
**7.2 Geographic comparison
*Exhibit 24: Geographic comparison
**7.3 APAC - Market size and forecast 2020-2025
*Exhibit 25: APAC - Market size and forecast 2020-2025 ($ million units)
*Exhibit 26: APAC - Year-over-year growth 2020-2025 (%)
**7.4 Europe - Market size and forecast 2020-2025
*Exhibit 27: Europe - Market size and forecast 2020-2025 ($ million units)
*Exhibit 28: Europe - Year-over-year growth 2020-2025 (%)
**7.5 North America - Market size and forecast 2020-2025
*Exhibit 29: North America - Market size and forecast 2020-2025 ($ million units)
*Exhibit 30: North America - Year-over-year growth 20120-2025 (%)
**7.6 MEA - Market size and forecast 2020-2025
*Exhibit 31: MEA - Market size and forecast 2020-2025 ($ million units)
*Exhibit 32: MEA - Year-over-year growth 2020-2025 (%)
**7.7 South America - Market size and forecast 2020-2025
*Exhibit 33: South America - Market size and forecast 2020-2025 ($ million units)
*Exhibit 34: South America - Year-over-year growth 2020-2025(%)
**7.8 Key leading countries
*Exhibit 35: Key leading countries
**7.9 Market opportunity by geography
*Exhibit 36: Market opportunity by geography ($ million)
***8. Drivers, Challenges, and Trends
**8.1 Market Driver
*8.1.1 Stringent Regulations on NOx emissions
*8.1.2 Increase in electricity demand
*8.1.3 Gradual conversion of conventional engines to dual fuel engines
**8.2 Market challenges
*8.2.1 Efficiency problems
*8.2.2 Increase in renewable energy sources
*8.2.3 Diesel engine technology gaining momentum with technological advances
*184.108.40.206 Alterations made in diesel engines
*220.127.116.11 Fuel composition
*18.104.22.168 Diesel fuel emission treatment
*Exhibit 37: Impact of drivers and challenges
**8.3 Market trends
*8.3.1 Ammonia gas as substitute for natural gas in dual fuel engines
*8.3.2 Increased OEM collaboration to study dual fuel engine technology for automobiles
*8.3.3 Slowdown in oil price affecting the gas pipeline infrastructure
***9. Vendor Landscape
**9.1 Vendor Landscape
*Exhibit 38: Vendor landscape
**9.2 Landscape disruption
*Exhibit 39: Landscape disruption
*Exhibit 40: Industry Risk
***10. Vendor Analysis
**10.1 Vendors covered
*Exhibit 41: Vendors covered
**10.2 Market positioning of vendors
*Exhibit 42: Market positioning of vendors
**10.3 Anglo Belgian Corp.
*Exhibit 43: Anglo Belgian Corp. - Overview
*Exhibit 44: Anglo Belgian Corp. - Product and service
*Exhibit 45: Anglo Belgian Corp. - Key offerings
**10.4 Caterpillar Inc.
*Exhibit 46: Caterpillar Inc. - Overview
*Exhibit 47: Caterpillar Inc. - Business segments
*Exhibit 48: Caterpillar Inc. - Key news
*Exhibit 49: Caterpillar Inc. - Key offerings
*Exhibit 50: Caterpillar Inc. - Segment focus
**10.5 Cummins Inc.
*Exhibit 51: Cummins Inc. - Overview
*Exhibit 52: Cummins Inc. - Business segments
*Exhibit 53: Cummins Inc. - Key news
*Exhibit 54: Cummins Inc. - Key offerings
*Exhibit 55: Cummins Inc. - Segment focus
**10.6 Heinzmann GmbH and Co. KG
*Exhibit 56: Heinzmann GmbH and Co. KG - Overview
*Exhibit 57: Heinzmann GmbH and Co. KG - Business segments
*Exhibit 58: Heinzmann GmbH and Co. KG - Key news
*Exhibit 59: Heinzmann GmbH and Co. KG - Key offerings
**10.7 Kubota Corp.
*Exhibit 60: Kubota Corp. - Overview
*Exhibit 61: Kubota Corp. - Business segments
*Exhibit 62: Kubota Corp. - Key news
*Exhibit 63: Kubota Corp. - Key offerings
*Exhibit 64: Kubota Corp. - Segment focus
**10.8 MAN Energy Solutions SE
*Exhibit 65: MAN Energy Solutions SE - Overview
*Exhibit 66: MAN Energy Solutions SE - Product and service
*Exhibit 67: MAN Energy Solutions SE - Key news
*Exhibit 68: MAN Energy Solutions SE - Key offerings
**10.9 Wartsila Corp.
*Exhibit 69: Wartsila Corp. - Overview
*Exhibit 70: Wartsila Corp. - Business segments
*Exhibit 71: Wartsila Corp. - Key news
*Exhibit 72: Wartsila Corp. - Key offerings
*Exhibit 73: Wartsila Corp. - Segment focus
**10.10 Fuel Systems Inc.
*Exhibit 74: Westport Fuel Systems Inc. - Overview
*Exhibit 75: Westport Fuel Systems Inc. - Business segments
*Exhibit 76: Westport Fuel Systems Inc. - Key news
*Exhibit 77: Westport Fuel Systems Inc. - Key offerings
*Exhibit 78: Westport Fuel Systems Inc. - Segment focus
**10.11 Woodward Inc.
*Exhibit 79: Woodward Inc. - Overview
*Exhibit 80: Woodward Inc. - Business segments
*Exhibit 81: Woodward Inc. - Key news
*Exhibit 82: Woodward Inc. - Key offerings
*Exhibit 83: Woodward Inc. - Segment focus
**10.12 Yanmar Holdings Co. Ltd.
*Exhibit 84: Yanmar Holdings Co. Ltd. - Overview
*Exhibit 85: Yanmar Holdings Co. Ltd. - Product and service
*Exhibit 86: Yanmar Holdings Co. Ltd. - Key offerings
**11.1 Scope of the report
*11.1.1 Market definition
*11.1.3 Notes and caveats
**11.2 Currency conversion rates for US$
*Exhibit 87: Currency conversion rates for US$
**11.3 Research Methodology
*Exhibit 88: Research Methodology
*Exhibit 89: Validation techniques employed for market sizing
*Exhibit 90: Information sources
**11.4 List of abbreviations
*Exhibit 91: List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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