Global Diesel Engine
Market Report
2024
Diesel Engine Market will be USD 64152.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 4.50% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global diesel engine market will be USD 64152.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 4.50% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Diesel Engine Market Sales Revenue 2024 | $ 64152.2 Million |
Global Diesel Engine Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.5% |
North America Diesel Engine Market Sales Revenue 2024 | $ 25660.9 Million |
North America Diesel Engine Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 2.7% |
Europe Diesel Engine Market Sales Revenue 2024 | $ 19245.7 Million |
Europe Diesel Engine Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 3% |
Asia Pacific Diesel Engine Market Sales Revenue 2024 | $ 14755 Million |
Asia Pacific Diesel Engine Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.5% |
South America Diesel Engine Market Sales Revenue 2024 | $ 3207.61 Million |
South America Diesel Engine Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 3.9% |
Middle East and Africa Diesel Engine Market Sales Revenue 2024 | $ 1283.04 |
Middle East and Africa Diesel Engine Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.2% |
Market Split by Engine Type |
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Market Split by Power Output |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Diesel Engine Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
An internal combustion engine that runs on the compression ignition concept is a diesel engine. Hot compressed air is placed inside a cylindrical vessel to ignite the fuel. The fuel's chemical energy is transformed into mechanical energy to produce power and heat. Diesel engines are also well-known for producing a lot of torque, which makes them appropriate for heavy-duty uses like maritime vessels, locomotives, and tractors. Additionally, because of their high expansion ratio, diesel engines have good thermal efficiency and are widely used in various industries.
Diesel engines are suited for heavy-duty applications because of their high torque output. In applications where a consistent power output over an extended period or distance is required, they are also more fuel-efficient than gasoline engines. Furthermore, the need for dependable electricity in commercial, industrial, and residential settings is one reason for the expansion of the diesel engine market.
Nitrogen emissions from diesel engines are linked to negative environmental and human health consequences. Stricter emission regulations result from worries about climate change and air pollution. Furthermore, the accessibility of natural gas has caused a movement in favor of natural gas engines, which are seen as a viable substitute for diesel engines. As a result, this trend is anticipated to limit market growth for the duration of the projection period.
For instance, Caterpillar Inc.'s diesel engines are widely utilized in various industries, including machinery and construction. These engines have the power and torque to run heavy machinery on hard construction sites. Additionally, diesel engines can power off-highway trucks, locomotives, and power-producing equipment.
(Source: https://www.caterpillar.com/en/company.html)
Throughout the projection period, a growth stagnation is anticipated in the diesel power engine market. This is because the power industry has grown significantly due to the population explosion and the rise in energy consumption in different parts of the country. The main reason for the expansion is that significant end users in every region require uninterrupted power. The most urbanized regions are still North America, South America, and Europe, but considerable urbanization is anticipated in Africa and Asia Pacific throughout the projection period. Building power T&D networks and essential support infrastructure are prerequisites for urbanization. The building, chemical and petrochemical, food and beverage, and utilities industries have all seen a rise in activity due to the growing need for contemporary infrastructure in urban areas. One of the main drivers of industry expansion is power reliability, which may be attained by employing diesel engines as a major or backup source of electricity generation.
The import and export of goods and commodities like ores, crude oil, and minerals have increased recently due to the world's rapidly expanding population, which has increased the allure of seaborne trade. The maritime industry's diesel engine usage will expand due to the greater emphasis on industrial developments through improved trade integration, manufacturing expansion, and regional economic integration. The diesel engine market is driven by a growing travel industry, an increase in the need for consistent and reliable power, and the growth of maritime freight transit globally. Moreover, market expansion is probably driven by the growing requirement for reinforcement power solutions. With the growth of industrialization and computerization in the automotive sector,
Diesel fuel is more expensive than other fuels and gasoline, particularly for longer-term activities. Frequent lubrication, cooling, fuelling, starting battery, and fuel filter refills are necessary for preventive maintenance. These expenses are more than those associated with operating renewable technologies and add to diesel engines' overall operating and maintenance costs. Furthermore, severe weather, high temperatures, and saltwater (in maritime applications) might increase the frequency of maintenance tasks. Conversely, new and developing technologies, such as battery energy systems for backup power, are simple to maintain and operate and don't require fuel. Diesel engines can be expensive to operate and maintain due to their high fuel costs. However, these new technologies are also becoming more competitive.
In the near term, the COVID-19 epidemic impacted the diesel engine market. The lockdowns and industrial closures caused transportation and supply chain disruptions. It had an impact on the demand for and availability of diesel engines. The lockdown also hindered the expansion of the diesel engine market and impacted the global import and export of diesel engine parts. The pandemic also highlighted the significance of clean energy and sustainability, which sharpened the focus on energy transition. Government support for electric vehicles and alternative energy sources has expanded. This change impacted the diesel engine market, especially for passenger cars.
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Leading businesses promote the market via strategic alliances, environmental compliance, and innovation. These sector leaders never stop funding R&D to produce cleaner, more technologically sophisticated, and more effective diesel engines. Modern technologies, including direct injection, turbocharging, and pollution control systems are being incorporated into diesel engines to increase fuel efficiency and lower hazardous emissions. This dedication to environmental responsibility aligns with consumers' aspirations for cleaner engines and the constantly changing global legislation.
In March 2023, Caterpillar announced the creation of the CAT C13D to maximize the performance of heavy-duty off-highway applications. This new 13-liter diesel engine platform will provide best-in-class power density, torque, and fuel efficiency. With models available for less regulated markets, the C13D would meet the emissions regulations of higher regulated markets, including EU stage v, US EPA tier 4 final, China non-road IV, Korea stage V, and Japan 2014.
In June 2022, Together, WinGD and Hyundai Heavy Industries' Engine Machinery Division (EMD) produced the first WinGD engine that could run on ammonia, a significant advancement toward the decarbonization of shipping.
Top Companies Market Share in Diesel Engine Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. Market demand is anticipated to be driven by the increasing demand brought on by the region's rapid infrastructure development and building. Furthermore, market expansion is anticipated to be fueled by the US's leading manufacturers. Canada's growing infrastructure and development projects are anticipated to increase demand for diesel engines in the local market.
The Asia Pacific region is witnessing an increase in sales. The presence of developing countries like China and India brought about the expansion. The main forces behind demand development include population growth, urbanization, changes in the makeup of households, the rise of the middle class, and an increase in private consumption, especially in emerging economies. Growing demand for agricultural products and the expanding construction sector are predicted to drive demand for diesel engines. Additionally, the region's growing need for electricity generation and the establishment of power plants in several nations are anticipated to fuel market expansion throughout the projection period.
The current report Scope analyzes Diesel Engine Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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According to Cognitive Market Research, the global Diesel engine market size was estimated at USD 64152.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 25660.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.7% from 2024 to 2031. The market for diesel engines in North America is anticipated to rise moderately, propelled by the ongoing need for dependable power across a range of industries, with an emphasis on increased efficiency and regulatory compliance. Diesel engines are key to the reliable running of agriculture, transportation, and construction industries. One of the main factors driving the industry is the requirement for constant power. The US is witnessing notable expansion in the off-highway diesel engine category, which includes construction and agricultural machinery, owing to a robust automotive industry and many market participants.
According to Cognitive Market Research, with a market value of USD 64152.2 million in 2024, it is projected to expand at a compound annual growth rate (CAGR) of 3.0% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 19245.66 million. It's crucial to remember that the European diesel engine market faces certain difficulties. In the long run, increased emphasis on electric vehicles and stricter emission standards may reduce demand. For the foreseeable future, the market is anticipated to remain buoyant due to the aspects above and continuous advancements. Hybrid powertrains, which combine electric and diesel motors, are gaining popularity. This can decrease emissions and increase fuel efficiency, especially in applications like buses and commercial vehicles.
According to Cognitive Market Research, the global Diesel engine market size was estimated at USD 64152.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 14755.01 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031. Asia Pacific's developing nations are rapidly developing their infrastructure. This entails constructing new industrial facilities, transportation systems, and power plants. For these projects, diesel engines provide a dependable and effective energy source, particularly where access to grid electricity is scarce. The construction and manufacturing sectors are two of the main users of diesel engines. Growth in these industries is being fueled by the expanding economies of Asia Pacific, which is raising demand for diesel engines. In Asia Pacific, shipbuilding and maritime commerce are important industries. Diesel engines power the majority of fishing and commercial ships. The demand for marine diesel engines is driven by an increase in leisure cruises due to growing disposable incomes and increased shipping traffic.
According to Cognitive Market Research, the global diesel engine market size was estimated at USD 64152.2 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 3207.61 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2031. The expanding economies of Latin America mostly depend on the movement of products. Diesel engines power most trains, buses, and trucks. Strong and dependable diesel engines will become more and more in demand as global trade and e-commerce grow. Improvements to roads, bridges, and buildings are urgently needed throughout Latin America due to the region's rapid urbanization. There is a sizable market for diesel engines since construction uses heavy machinery propelled by these engines. Manufacturing, mining, and agriculture are among the industries experiencing a surge in activity as the economies of Latin America develop diesel engines, power generators, industrial gear, and agricultural equipment.
According to Cognitive Market Research, the global Diesel engine market size was estimated at USD 64152.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 1283.04 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031. The electrical grid is unstable in several of the MEA region's nations. Due to this, there is a noticeable need for backup power options, often met by diesel generators running on diesel engines. The need for consistent and dependable power grows as economies expand and as industrial activity rises. Diesel engines are seen to be a tried-and-true solution for satisfying this need. Due to increased construction projects, diesel engines are increasingly needed in the MEA region to power machinery and equipment. Due to the factors above, the MEA diesel engine market is expected to increase in the near future. Long-term trends, nonetheless, point to the need for stronger laws and greener energy sources.
Global Diesel Engine Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Diesel Engine Industry growth. Diesel Engine market has been segmented with the help of its Engine Type, Power Output Application, and others. Diesel Engine market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, up to 2 L held the major market share over the forecast period. Many sectors depend heavily on small diesel engines, usually those with up to two liters of displacement. These engines can power various applications because of their strong torque output, longevity, and fuel efficiency. There is an increasing need for mobile and adaptable machinery in the construction and agricultural industries, which compact diesel engines can power well. Engine producers are always working to create cleaner, more efficient engines to comply with ever-tougher emission rules, such as Euro VI. Modern technology like exhaust gas after-treatment systems and common rail fuel injection systems are being adopted.
4-8 L is the fastest-growing category over the forecast period. The market for 4–8 liter diesel engines meets the demand for strong, dependable engines in a range of off-highway uses. The industry is anticipated to increase moderately in the upcoming years despite several challenges. These engines are perfect for heavy-duty mining, forestry, agriculture, and construction equipment. Their strength and resilience In some applications, diesel engines in this range can provide cheaper running costs than alternative fuels despite their initial prices; this is particularly advantageous for fleet managers who prioritize profitability. Make them appropriate for challenging jobs.
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According to Cognitive Market Research, 150 HP - 180 HP holds a prominent market share. In the upcoming years, it is anticipated that the primary drivers of the 150–180 HP diesel engine market will continue to be robust. The ongoing need for off-highway machinery, the requirement for cleaner emissions, and the increase in fuel prices bring this on. Regulations are in place to limit the emissions of nitrogen oxides (NOx) and particulate matter (PM) from diesel engines. Manufacturers are creating new technologies to comply with these rules, such as diesel particulate filters (DPF) and selective catalytic reduction (SCR).
50 HP - 80 HP is the fastest-growing category over the forecast period. Nitrogen oxide (NOx) and particulate matter (PM) emissions from diesel engines are subject to regulations. Cleaner-burning engines with high-pressure common rail fuel injection systems and exhaust gas after-treatment systems are in great demand. The construction industry is one of the main industries driving demand for 300–500 horsepower diesel engines. Numerous construction machinery employs these engines, including cranes, loaders, and excavators.
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According to Cognitive Market Research, construction equipment holds a prominent market share. Numerous construction machinery employs diesel engines, such as pavers, cranes, loaders, bulldozers, and excavators. These tough applications are a perfect fit for them because of their strong torque production and capacity to support large loads. Digestor trucks, graders, and scrapers are earthmoving machinery running on diesel fuel. Diesel engines supply the continuous power required to move heavy loads of rock and dirt.
Genset is the fastest-growing category over the forecast period. An electrical generator powered by an engine is called a genset or generator set. In a power outage, generators supply primary electricity in remote areas or as backup power. Because diesel engines are dependable and long-lasting, diesel gensets are the most popular kind of genset. Rapid economic expansion in developing nations drives demand for diesel engines for various uses, including power generation and transportation.
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Engine Type | Upto 2 L, 2-4 L, 4-8 L, 8-12 L, 12-16 L, 16-20 L, 20-24 L, Above 24 L |
Power Output | <50 HP, 50 HP - 80 HP, 80 HP - 120 HP, 120 HP - 150 HP, 150 HP - 180 HP, 180 HP - 220 HP, 220 HP - 250 HP, 250 HP - 300 HP, 300 HP - 500 HP, 500 HP - 750 HP, 750 HP - 1, 000 HP, Above 1, 000 HP |
Application | Construction Equipment, Agriculture & Forestry Equipment, Landscape & Maintenance Equipment, Mining Equipment, Military and Defense, Industrial Trucks, Power Sports, Marine, Genset |
List of Competitors | Caterpillar (US), Cummins Inc. (US), Volvo Penta (Sweden), Hyundai Heavy Industries (South Korea), MAN Energy Solutions (Germany), Doosan Infracore (South Korea), Mitsubishi Heavy Industries(Japan), Yanmar Holdings (Japan), FPT Industrial (Italy), IHI Power Systems (Japan), Wartsila (Finland), Kohler (US), Kubota (Japan), Rolls Royce Holdings (UK), Mahindra Powertrain (India), Guangzhou Diesel Engine Factory (China), Daihatsu Diesel Mfg. (Japan), CNPC Jichai Power Company Limited (China), The Liebherr Group (Switzerland), Anglo Belgian Corporation (Belgium) |
This chapter will help you gain GLOBAL Market Analysis of Diesel Engine. Further deep in this chapter, you will be able to review Global Diesel Engine Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Engine Type Analysis 2019 -2031, will provide market size split by Engine Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Engine Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Power Output Analysis 2019 -2031
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Chapter 12 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Diesel Engine market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Upto 2 L have a significant impact on Diesel Engine market? |
What are the key factors affecting the Upto 2 L and 2-4 L of Diesel Engine Market? |
What is the CAGR/Growth Rate of <50 HP during the forecast period? |
By type, which segment accounted for largest share of the global Diesel Engine Market? |
Which region is expected to dominate the global Diesel Engine Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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