Global Diesel Engine Market Size, Share, & COVID-19 Impact Analysis, By Type (Heavy-Duty Diesel Engines, Industrial Diesel Engines, Marine Diesel Engines, and Automotive Diesel Engines), By End User (Industrial, Commercial, and Residential), and Regional Forecast, 2024-2032

A diesel engine is an internal combustion engine that operates on the principle of compression ignition. The air is compressed at a high temperature inside a cylindrical vessel to ignite the fuel. The chemical energy present in the fuel is converted into mechanical energy to generate heat and power. Diesel engines are also known for their high torque output, making them suitable for heavy-duty applications such as tractors, locomotives, and marine vessels. Moreover, diesel engines have high thermal efficiency owing to a high expansion ratio making them widely applicable in various sectors.

• For instance, Caterpillar Inc. diesel engines are widely used in various applications such as construction and machinery. These engines provide power and torque to operate heavy equipment in demanding job sites. Their diesel engines can also be used for off-highway trucks, locomotives, and power generation equipment.

Diesel engines are known for their high torque output, making them suitable for heavy-duty applications. They are also more fuel-efficient than gasoline engines, especially in applications requiring constant power output for a long time or distance. Moreover, factors such as the demand for reliable electricity in commercial, industrial, and residential areas are driving the growth of the diesel engine market.

Diesel engines are associated with emissions of nitrogen which have adverse effects on the environment and health impacts. Concerns about air pollution and climate change have led to stricter emission regulations. Moreover, the abundance of natural gas has led to a shift toward natural gas engines which are considered an alternative to diesel engines; therefore, it is expected to restrain the market growth during the forecast period.

IMPACT OF COVID- 19 ON THE GLOBAL DIESEL ENGINE MARKET

Due to the COVID-19 pandemic, the diesel engine market was affected in the short run. The supply chain and transportation segment was disrupted due to the lockdowns and industrial closures. It affected the availability of diesel engines and its demand. The lockdown also slowed down the growth of the diesel engine industry and affected the imports and exports of parts for diesel engines worldwide. Moreover, the pandemic highlighted the importance of sustainability and clean energy, increasing the focus on energy transition. Governments increased their support for renewable energy sources and electric vehicles. This shift affected the demand for diesel engines, particularly in passenger vehicles.  

SEGMENTATION

KEY INSIGHTS

The report will cover the following key insights:

• Recent advancements in the global diesel engine market


• Key industry trends


• Regulatory landscape for the global diesel engine market


• Key industry developments


• Impact of COVID–19 on the market

ANALYSIS BY TYPE

Based on type, the market is segmented into heavy-duty, industrial, marine, and automotive diesel engines. Industrial diesel engines are expected to dominate the market as they are used in power generation, pumping systems, and stationary machinery. The need for reliable and efficient power sources in industries such as manufacturing, data centers, and remote locations drives the demand for industrial diesel engines. Heavy-duty diesel engines are also expected to grow during the forecast period as they are extensively used in trucks, buses, and heavy machinery due to their high power and torque output.

 ANALYSIS BY END-USER

Based on end-user, the market is segmented into industrial, commercial, and residential. The industrial segment, including automobiles, mining, manufacturing, power generation, and others is expected to grow the fastest during the forecast period. The use of diesel engines for power generation is increasing owing to the demand for a stable and reliable power supply. Moreover, the power generated from conventional power plants is not dispatchable; thus, power plants are constructed with diesel engines. 

REGIONAL ANALYSIS

The global diesel engine market is divided into North America, Europe, Asia Pacific, Latin America, the Middle East and Africa. Asia Pacific is anticipated to progress the fastest during the forecast period. The increasing demand for electricity and infrastructural developments is expected to increase the demand for diesel engines in this region. Developing countries such as South Korea and India have massive power consumption due to the growing population; therefore, the demand for steady power boosts the sales of diesel engines in the industrial and commercial sectors. Moreover, the Indian government is focusing on the country's infrastructural development by constructing a metro rail network; therefore, diesel engines have immense growth opportunities in this region. Due to urbanization and infrastructural capability, North America is expected to be the second fastest-growing region in the diesel engine market. Moreover, diesel engines can also serve as a backup source of electricity generation.   

KEY PLAYERS COVERED

The report includes profiles of key players such as Cummins Inc., Volvo Penta, Caterpillar Inc., MAN Energy Solutions, Bosch, Ford Motor Company, General Motors, Mitsubishi Motors, AGCO Corporation, and Rolls-Royce Motor Cars.  

KEY INDUSTRY DEVELOPMENTS:

• June 2023 - GM announced that it plans on moving Duramax diesel engine production from Moraine to Brookville.


• March 2023 - Caterpillar Inc. announced the launch of a CAT C13D diesel engine for off-highway equipment designed to achieve increased power density and fuel efficiency. It will be available for early OEM pilots in 2025.


• November 2022 - Mitsubishi announced the release of a tier 4 marine diesel engine with 1260 horsepower in Seattle.


• February 2021 - Cummins Inc. announced it would provide a B6.7 diesel engine to Isuzu F-series trucks in the U.S. This will open up more new sales opportunities for the company and work toward meeting their global customers' needs.


• February 2021 - Yanmar Group inaugurated India's first diesel engine manufacturing facility. The area is around 23,000 square meters, with an annual production capacity of 80,000 engines.