The global diesel power engine market size is estimated to reach a valuation of US$ 9 billion by 2024. It is expected to attain a valuation of around US$ 18.8 billion by 2034. The market is likely to expand at a CAGR of 7.6% in the forecast period 2024 to 2034.
Key Diesel Power Engine Market Trends
| Attributes | Key Insights |
|---|---|
| Diesel Power Engine Market Anticipated Value (2023A) | US$ 8.3 billion |
| Diesel Power Engine Market Estimated Valuation (2024E) | US$ 9 billion |
| Projected Diesel Power Engine Market Size (2034F) | US$ 18.8 billion |
| Value-based Diesel Power Engine Market CAGR (2024 to 2034) | 7.6% |
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The global diesel power engine market expanded at a CAGR of about 9.2% in the historical period 2019 to 2023. It will likely rise at a CAGR of 7.6% in the assessment period. The market stood at a valuation of US$ 8.3 billion in 2023.
| Historical CAGR (2019 to 2023) | 9.2% |
|---|---|
| Forecast CAGR (2024 to 2034) | 7.6% |
Diesel Engine Market Growth Outlook from 2019 to 2023
Diesel Engine Market Size Analysis from 2024 to 2034
Principal Consultant
The table provides information about significant variations in growth rates and dynamic trends in the diesel power engine market. Readers can gain insights into changing consumer tastes and evolving market dynamics throughout an array of different periods.
The table offers an explanation of growth potential, scrutinizing the role that actual numbers and predictions have in determining the future path of the market.
| Details | CAGR |
|---|---|
| H1 (2023 to 2033) | 8.1% |
| H2 (2023 to 2033) | 7.0% |
| H1 (2024 to 2034) | 8.2% |
| H2 (2024 to 2034) | 6.9% |
The section below highlights the CAGRs of the leading countries in the diesel power engine market. The three main countries pushing diesel power engine demand include Japan, the United Kingdom, and the United States.
According to the analysis, Japan is set to lead the diesel power engine market by showcasing a CAGR of 9.0% in the forecast period. The country is anticipated to be followed by the United Kingdom and the United States, with CAGRs of 8.5% and 7.9%, respectively.
| Countries | CAGR (2024 to 2034) |
|---|---|
| United States | 7.9% |
| United Kingdom | 8.5% |
| China | 6.8% |
| Japan | 9.0% |
| South Korea | 5.1% |
The table below showcases the size of the top 5 countries present in the global diesel power engine market. Out of all the countries, the United States is expected to reach a valuation of US$ 3.3 billion by 2034. Followed by the United States, China and Japan are anticipated to attain valuations of US$ 2.6 billion and US$ 2.1 billion, respectively.
| Countries | Market Size (2034) |
|---|---|
| United States | US$ 3.3 billion |
| United Kingdom | US$ 781.7 million |
| China | US$ 2.6 billion |
| Japan | US$ 2.1 billion |
| South Korea | US$ 692.8 million |
The United States diesel power engine market is projected to attain a valuation of US$ 3.3 billion by 2034. It will likely rise at a CAGR of 7.9% from 2024 to 2034. Factors pushing the diesel engine industry in the country are:
It is estimated that China will generate a steady diesel power engine market share in the forecast period. The country is anticipated to expand at a CAGR of 6.8% from 2024 to 2034. Key factors augmenting the market include:
Japan’s diesel power engine market is anticipated to witness a CAGR of 9.0% through 2034. The country is likely to expand considerably due to the following factors:
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The below section shows the global trends in the diesel power engine industry in terms of operation and rated power. The standby segment is expected to lead the diesel power engine market based on operation.
It is set to showcase a CAGR of around 7.4% from 2024 to 2034. Based on the rated power, the up to 0.5 MW segment is anticipated to exhibit a dominant CAGR of 7.1% through 2034.
| Segment | Value CAGR (2024 to 2034) |
|---|---|
| Standby (Operation) | 7.4% |
| Up to 0.5 MW (Rated Power) | 7.1% |
In terms of operation, the standby segment is projected to witness a CAGR of 7.4% from 2024 to 2034. The segment is likely to surge rapidly owing to the following factors:
Based on rated power, the up to 0.5 MW category is estimated to exhibit a CAGR of around 7.1% through 2034. This growth is attributed to the following factors:
The global diesel power engine market is highly fragmented, with the presence of several key companies. They are mainly focusing on joining hands with renowned automakers to provide their in-house heavy-duty diesel engines.
Several automotive manufacturers worldwide are striving to increase sales of their diesel-powered vehicles to gain a competitive edge. They are constantly updating their old car models to include diesel engines and new features.
For instance:
The diesel power engine market is set to reach US$ 18.8 billion by 2034.
Caterpillar Inc. and Cummins, Inc. are the leading manufacturers.
The popularity of diesel engines is rising owing to their ability to offer high fuel economy.
The diesel power engine market is expected to reach US$ 9 billion in 2024.
The diesel power engine market is set to expand at a CAGR of 7.6% through 2034.
The standby segment is expected to lead the diesel power engine market.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ billion) & Volume (Units) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ billion) & Volume (Units) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Operation 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ billion) & Volume (Units) Analysis By Operation, 2019 to 2023 5.3. Current and Future Market Size Value (US$ billion) & Volume (Units) Analysis and Forecast By Operation, 2024 to 2034 5.3.1. Standby 5.3.2. Prime 5.3.3. Peak Shaving 5.4. Y-o-Y Growth Trend Analysis By Operation, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Operation, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Rated Power 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ billion) & Volume (Units) Analysis By Rated Power, 2019 to 2023 6.3. Current and Future Market Size Value (US$ billion) & Volume (Units) Analysis and Forecast By Rated Power, 2024 to 2034 6.3.1. Up to 0.5 MW 6.3.2. 0.5 to 1 MW 6.3.3. 1 to 2 MW 6.3.4. 2 to 5 MW 6.3.5. Above 5 MW 6.4. Y-o-Y Growth Trend Analysis By Rated Power, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Rated Power, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-user 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ billion) & Volume (Units) Analysis By End-user, 2019 to 2023 7.3. Current and Future Market Size Value (US$ billion) & Volume (Units) Analysis and Forecast By End-user, 2024 to 2034 7.3.1. Industrial 7.3.2. Commercial 7.3.3. Residential 7.4. Y-o-Y Growth Trend Analysis By End-user, 2019 to 2023 7.5. Absolute $ Opportunity Analysis By End-user, 2024 to 2034 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ billion) & Volume (Units) Analysis By Region, 2019 to 2023 8.3. Current Market Size Value (US$ billion) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034 8.3.1. North America 8.3.2. Latin America 8.3.3. Western Europe 8.3.4. Eastern Europe 8.3.5. South Asia and Pacific 8.3.6. East Asia 8.3.7. Middle East and Africa 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ billion) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ billion) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. United States 9.2.1.2. Canada 9.2.2. By Operation 9.2.3. By Rated Power 9.2.4. By End-user 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Operation 9.3.3. By Rated Power 9.3.4. By End-user 9.4. Key Takeaways 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ billion) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ billion) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Operation 10.2.3. By Rated Power 10.2.4. By End-user 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Operation 10.3.3. By Rated Power 10.3.4. By End-user 10.4. Key Takeaways 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ billion) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ billion) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. United Kingdom 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Western Europe 11.2.2. By Operation 11.2.3. By Rated Power 11.2.4. By End-user 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Operation 11.3.3. By Rated Power 11.3.4. By End-user 11.4. Key Takeaways 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ billion) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ billion) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. Poland 12.2.1.2. Russia 12.2.1.3. Czech Republic 12.2.1.4. Romania 12.2.1.5. Rest of Eastern Europe 12.2.2. By Operation 12.2.3. By Rated Power 12.2.4. By End-user 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Operation 12.3.3. By Rated Power 12.3.4. By End-user 12.4. Key Takeaways 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ billion) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ billion) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. India 13.2.1.2. Bangladesh 13.2.1.3. Australia 13.2.1.4. New Zealand 13.2.1.5. Rest of South Asia and Pacific 13.2.2. By Operation 13.2.3. By Rated Power 13.2.4. By End-user 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Operation 13.3.3. By Rated Power 13.3.4. By End-user 13.4. Key Takeaways 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ billion) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ billion) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. China 14.2.1.2. Japan 14.2.1.3. South Korea 14.2.2. By Operation 14.2.3. By Rated Power 14.2.4. By End-user 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Operation 14.3.3. By Rated Power 14.3.4. By End-user 14.4. Key Takeaways 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15.1. Historical Market Size Value (US$ billion) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 15.2. Market Size Value (US$ billion) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 15.2.1. By Country 15.2.1.1. GCC Countries 15.2.1.2. South Africa 15.2.1.3. Israel 15.2.1.4. Rest of Middle East and Africa 15.2.2. By Operation 15.2.3. By Rated Power 15.2.4. By End-user 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Operation 15.3.3. By Rated Power 15.3.4. By End-user 15.4. Key Takeaways 16. Key Countries Market Analysis 16.1. United States 16.1.1. Pricing Analysis 16.1.2. Market Share Analysis, 2023 16.1.2.1. By Operation 16.1.2.2. By Rated Power 16.1.2.3. By End-user 16.2. Canada 16.2.1. Pricing Analysis 16.2.2. Market Share Analysis, 2023 16.2.2.1. By Operation 16.2.2.2. By Rated Power 16.2.2.3. By End-user 16.3. Brazil 16.3.1. Pricing Analysis 16.3.2. Market Share Analysis, 2023 16.3.2.1. By Operation 16.3.2.2. By Rated Power 16.3.2.3. By End-user 16.4. Mexico 16.4.1. Pricing Analysis 16.4.2. Market Share Analysis, 2023 16.4.2.1. By Operation 16.4.2.2. By Rated Power 16.4.2.3. By End-user 16.5. Germany 16.5.1. Pricing Analysis 16.5.2. Market Share Analysis, 2023 16.5.2.1. By Operation 16.5.2.2. By Rated Power 16.5.2.3. By End-user 16.6. United Kingdom 16.6.1. Pricing Analysis 16.6.2. Market Share Analysis, 2023 16.6.2.1. By Operation 16.6.2.2. By Rated Power 16.6.2.3. By End-user 16.7. France 16.7.1. Pricing Analysis 16.7.2. Market Share Analysis, 2023 16.7.2.1. By Operation 16.7.2.2. By Rated Power 16.7.2.3. By End-user 16.8. Spain 16.8.1. Pricing Analysis 16.8.2. Market Share Analysis, 2023 16.8.2.1. By Operation 16.8.2.2. By Rated Power 16.8.2.3. By End-user 16.9. Italy 16.9.1. Pricing Analysis 16.9.2. Market Share Analysis, 2023 16.9.2.1. By Operation 16.9.2.2. By Rated Power 16.9.2.3. By End-user 16.10. Poland 16.10.1. Pricing Analysis 16.10.2. Market Share Analysis, 2023 16.10.2.1. By Operation 16.10.2.2. By Rated Power 16.10.2.3. By End-user 16.11. Russia 16.11.1. Pricing Analysis 16.11.2. Market Share Analysis, 2023 16.11.2.1. By Operation 16.11.2.2. By Rated Power 16.11.2.3. By End-user 16.12. Czech Republic 16.12.1. Pricing Analysis 16.12.2. Market Share Analysis, 2023 16.12.2.1. By Operation 16.12.2.2. By Rated Power 16.12.2.3. By End-user 16.13. Romania 16.13.1. Pricing Analysis 16.13.2. Market Share Analysis, 2023 16.13.2.1. By Operation 16.13.2.2. By Rated Power 16.13.2.3. By End-user 16.14. India 16.14.1. Pricing Analysis 16.14.2. Market Share Analysis, 2023 16.14.2.1. By Operation 16.14.2.2. By Rated Power 16.14.2.3. By End-user 16.15. Bangladesh 16.15.1. Pricing Analysis 16.15.2. Market Share Analysis, 2023 16.15.2.1. By Operation 16.15.2.2. By Rated Power 16.15.2.3. By End-user 16.16. Australia 16.16.1. Pricing Analysis 16.16.2. Market Share Analysis, 2023 16.16.2.1. By Operation 16.16.2.2. By Rated Power 16.16.2.3. By End-user 16.17. New Zealand 16.17.1. Pricing Analysis 16.17.2. Market Share Analysis, 2023 16.17.2.1. By Operation 16.17.2.2. By Rated Power 16.17.2.3. By End-user 16.18. China 16.18.1. Pricing Analysis 16.18.2. Market Share Analysis, 2023 16.18.2.1. By Operation 16.18.2.2. By Rated Power 16.18.2.3. By End-user 16.19. Japan 16.19.1. Pricing Analysis 16.19.2. Market Share Analysis, 2023 16.19.2.1. By Operation 16.19.2.2. By Rated Power 16.19.2.3. By End-user 16.20. South Korea 16.20.1. Pricing Analysis 16.20.2. Market Share Analysis, 2023 16.20.2.1. By Operation 16.20.2.2. By Rated Power 16.20.2.3. By End-user 16.21. GCC Countries 16.21.1. Pricing Analysis 16.21.2. Market Share Analysis, 2023 16.21.2.1. By Operation 16.21.2.2. By Rated Power 16.21.2.3. By End-user 16.22. South Africa 16.22.1. Pricing Analysis 16.22.2. Market Share Analysis, 2023 16.22.2.1. By Operation 16.22.2.2. By Rated Power 16.22.2.3. By End-user 16.23. Israel 16.23.1. Pricing Analysis 16.23.2. Market Share Analysis, 2023 16.23.2.1. By Operation 16.23.2.2. By Rated Power 16.23.2.3. By End-user 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Operation 17.3.3. By Rated Power 17.3.4. By End-user 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. Caterpillar Inc. 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.1.5.2. Product Strategy 18.1.1.5.3. Channel Strategy 18.1.2. Cummins, Inc. 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.2.5.2. Product Strategy 18.1.2.5.3. Channel Strategy 18.1.3. MAN SE 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.3.5.2. Product Strategy 18.1.3.5.3. Channel Strategy 18.1.4. Rolls-Royce Holdings plc. 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.4.5.2. Product Strategy 18.1.4.5.3. Channel Strategy 18.1.5. Wärtsilä Corp 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.5.5.2. Product Strategy 18.1.5.5.3. Channel Strategy 18.1.6. Mitsubishi Heavy Industries, Ltd. 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.6.5.2. Product Strategy 18.1.6.5.3. Channel Strategy 18.1.7. Volvo Penta 18.1.7.1. Overview 18.1.7.2. Product Portfolio 18.1.7.3. Profitability by Market Segments 18.1.7.4. Sales Footprint 18.1.7.5. Strategy Overview 18.1.7.5.1. Marketing Strategy 18.1.7.5.2. Product Strategy 18.1.7.5.3. Channel Strategy 18.1.8. Hyundai Heavy Industries Co., Ltd. 18.1.8.1. Overview 18.1.8.2. Product Portfolio 18.1.8.3. Profitability by Market Segments 18.1.8.4. Sales Footprint 18.1.8.5. Strategy Overview 18.1.8.5.1. Marketing Strategy 18.1.8.5.2. Product Strategy 18.1.8.5.3. Channel Strategy 18.1.9. Doosan 18.1.9.1. Overview 18.1.9.2. Product Portfolio 18.1.9.3. Profitability by Market Segments 18.1.9.4. Sales Footprint 18.1.9.5. Strategy Overview 18.1.9.5.1. Marketing Strategy 18.1.9.5.2. Product Strategy 18.1.9.5.3. Channel Strategy 18.1.10. Yanmar Co., Ltd. 18.1.10.1. Overview 18.1.10.2. Product Portfolio 18.1.10.3. Profitability by Market Segments 18.1.10.4. Sales Footprint 18.1.10.5. Strategy Overview 18.1.10.5.1. Marketing Strategy 18.1.10.5.2. Product Strategy 18.1.10.5.3. Channel Strategy 18.1.11. Kubota Corporation 18.1.11.1. Overview 18.1.11.2. Product Portfolio 18.1.11.3. Profitability by Market Segments 18.1.11.4. Sales Footprint 18.1.11.5. Strategy Overview 18.1.11.5.1. Marketing Strategy 18.1.11.5.2. Product Strategy 18.1.11.5.3. Channel Strategy 18.1.12. Kohler Co among others 18.1.12.1. Overview 18.1.12.2. Product Portfolio 18.1.12.3. Profitability by Market Segments 18.1.12.4. Sales Footprint 18.1.12.5. Strategy Overview 18.1.12.5.1. Marketing Strategy 18.1.12.5.2. Product Strategy 18.1.12.5.3. Channel Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
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Diesel Power Engine Market
