Market Summary
Global Diesel Engine Market Overview
Diesel Engine Market Size was valued at USD 167.3 Billion in 2021. The Diesel Engine Market industry is projected to grow from USD 172.1 Billion in 2022 to USD 273.8 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.34% during the forecast period (2023 - 2030). The Diesel Engine market is expected to be driven by the rapid urbanization in developing countries and technological advancements in diesel engines. Diesel engines are internal combustion engines in which the ignition of the fuel is generated by the raised temperature of the air in the cylinder owing to mechanical compression; consequently, the diesel engine is known as a compression-ignition engine (CI engine).
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Diesel Engine Market Trends
-
Increasing focus on use of diesel engines in marine industry
In recent years, the rapidly growing global population has resulted in an increase in the import and export of goods as well as commodities such as ores, crude oil, and minerals, adding to the attractiveness of the seaborne trade. The increased emphasis on industrial advancements through enhanced trade integration, manufacturing expansion, and regional economic integration will boost diesel engines used in the maritime industry. The increased demand for dependable and continuous power, expansion in global maritime freight transit, and a thriving travel sector are driving the diesel engine market. Furthermore, the increased need for reinforcement power arrangements is likely to drive market growth. With the advancement of computerization in the automotive industry and the rise of industrialization, the demand for outstanding execution and a reliable power source is increasing, increasing the popularity of fast engines.
High-speed engines are high-power diesel engines ranging between 900rpm-1800rpm and above that are employed in a variety of applications nowadays. End-users anticipate engines with improved effectiveness and execution rates regardless of the high cost of these engines, the need for fast engines is growing rapidly, and the abilities provided by these engines are highly valued in the marine industry. These engines also feature low discharge rates and lower fuel consumption restrictions, which are highly valued by end-use sectors. As a result, these characteristics have aided the rapid development of high-speed engines in the marine industry. In any case, the energy hotspots for high-speed engines have just been modified. Initially, the design of high-speed engines was based on the requirements of rough terrain vehicles and accompanying gear. As a result, Diesel Engine Market revenue expansion is anticipated to be fueled by increasing focus on use of diesel engines in marine industry.
Diesel Engine Market Segment Insights
Diesel Engine Power Rating Insights
The Diesel Engine Market segmentation, based on type, includes 0.5-1 MW, 1-2 MW, 2-4 MW, and Above 4 MW. The 0.5-1 MW segment held the majority share in 2022 contributing to around ~36-40% with respect to the Diesel Engine Market revenue. These are extensively used for standalone power generation and various applications that require substantial power and propulsion capabilities.
Diesel Engine End User Insights
The Diesel Engine Market data has been bifurcated by product largely into construction, agriculture, marine, power plants and others. The construction segment dominated the market in 2022. Diesel Engine are durable and reliable, ad highly fuel efficient, due to which they are extensively used in the construction industry for heavy-duty applications.
Figure 2: Diesel Engine Market, by End User, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Diesel Engine Region Insights
By Region, the Diesel Engine Market industry study segments the market into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Asia-Pacific Diesel Engine Market accounted for USD 72.5 billion in 2022 and is expected to exhibit a 6.44% CAGR during the study period. This is attributed to the presence of growing population and emerging market in the region.
Figure 3: Diesel Engine Market Share By Region 2022-2030 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Throughout the forecast period, the North America Diesel Engine Market is expected to witness significant growth in the Diesel Engine market, with the majority of demand coming from the United States and Canada. The rising demand for due to rapid construction and infrastructural development in the region is expected to drive market demand. Furthermore, the presence of major manufacturers in the US is expected to drive market expansion. With increasing construction and infrastructural projects in Canada are expected to drive market demand in the region for diesel engines.
Europe's Diesel Engine Market has grown significantly in recent years. This expansion can be ascribed to supportive fuel taxation and increasing demand in various industrial applications across the region. Furthermore, a rapidly expanding marine and shipping industry in the region is expected to propel market demand for diesel engines in the region during the forecast period.
Asia-Pacific Diesel Engine Market is expected to dominate the growth owing to presence of emerging nations such as India and China. Population expansion, urbanization, a shift in household composition, the emergence of the middle class, and an increase in private consumption, particularly in emerging markets, are the key drivers of demand development. Rapid construction industry and growing agriculture output demand is further expected to propel market demand for diesel engines in the market. Furthermore, with increasing power generation demand and the undertaking of power plants set up in various countries in the region is expected to drive market growth during the forecast period.
Diesel Engine Key Market Players & Competitive Insights
Major market players’ growth depends on market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and improving services. Many global, regional, and local vendors characterize the Diesel Engine market. The market is highly competitive, with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and government regulations. Vendors must provide cost-efficient, high-quality products to survive and succeed in an intensely competitive market.
Caterpillar Inc. is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines for off-highway use, industrial gas turbines and diesel-electric locomotives. Caterpillar operates in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. It operates primarily via three core segments: Construction Industries, Resource Industries, and Energy & Transportation, as well as through the financial products sector, which provides financing and associated services. It offers a portfolio of about 20 brands that provide machines, engines, components, services, and solutions to address the specific demands of a wide range of sectors such as construction, mining, oil & gas, marine, power generation, rail, and industrial. It manufactures diesel and natural gas engines and gas turbines, which, in addition to being used in the company's own vehicles, are used as prime movers in locomotives, semi trucks, marine vessels, and ships, as well as providing power for peak-load power plants and emergency generators.
AGCO Corporation is an American producer of agricultural gear. Tractors, combines, foragers, hay tools, self-propelled sprayers, smart farming technologies, seeding equipment, and tillage equipment are all designed, manufactured, and sold by the company through well-known brands like TAFE, Challenger, Fendt, GSI, Massey Ferguson, and Valtra. It offers diesel engines under the brand name Agco Power located in Linnavuori, Finland and has manufacturing units in China, Brazil, and Argentina. It manufactures around 30,000 units per year at 4 manufacturing units and caters to tractor brands, machinery, ships, generators, pumps & power stations.
Key Companies in the Diesel Engine Market include:
- Caterpillar Inc. (US)
- AGCO Corporation (US)
- Deere & Company (US)
- Cummins Inc. (US)
- Mitsubishi Heavy Industries, Ltd (Japan)
- Ford Motor Company (US)
- General Motors Company (US)
- AB Volvo (Sweden)
Diesel Engine Industry Developments
April 2023:General Motors Company planned to expand its DMAX manufacturing plant in Brookville, Ohio. The Dayton-Montgomery County Board of Trustees has voted to approve the expansion of the DMAX factory in Brookville. The new capital lease deal allows General Motors to expand the project.
March 2023:Deere & Company introduced a range of new generation engines which include JD4, JD14, and JD18 from 36 to 677 kW (48 to 908 hp). JD4 has a power output of up to 120 kW (161 hp) with a rear gear train that provides clients with minimal noise and high PTO power. The engine also features an expanded single turbo range and a maximum torque of 700 Nm (516 lb-ft) for remarkable high-load capability and productivity. With these developments, the company aims to expand its sustainable power solutions for the off-highway industry.
February 2023:AGCO Power presented its latest powertrain solution at CONEXPO CON/AGG, USA. The high-speed CORE75 has 12% more power than the preceding low-speed edition (299 hp / 223 kW), a greater speed range of up to 2100 RPM, 24 voltage electrics, and an optional PWM-controlled alternator. The CORE75 boasts the best fuel efficiency in its class, with up to 0.309 lb/hph (188 g / kWh).
Diesel Engine Market Segmentation
Diesel Engine Power Rating Outlook
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
Diesel Engine End User Outlook
- Construction
- Agriculture
- Power Plants
- Others
Diesel Engine Regional Outlook
-
North America
- US
- Mexico
- Canada
-
Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
-
Asia-Pacific
- China
- Japan
- India
- South Korea
- Philippines
- Vietnam
- Indonesia
- Malaysia
- Thailand
- Myanmar
- Singapore
- Rest of Asia-Pacific
-
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of the Middle East & Africa
-
Latin America
- Brazil
- Argentina
- Rest of Latin America
Market Size & Forecast
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 172.1 Billion |
| Market Size 2023 | USD 178.1 Billion |
| Market Size 2030 | USD 273.8 Billion |
| Compound Annual Growth Rate (CAGR) | 6.34% (2023-2030) |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019 – 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Power Rating and End User |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and, Saudi Arabia, UAE, Brazil, Argentina, and others |
| Key Companies Profiled | Caterpillar Inc. (US), AGCO Corporation (US), Deere & Company (US), Cummins Inc. (US), Mitsubishi Heavy Industries, Ltd (Japan), Ford Motor Company (US), General Motors Company (US), AB Volvo (Sweden) |
| Key Market Opportunities | Technological advancements in diesel engines |
| Key Market Dynamics | Rapid urbanization in developing countriesIncreasing demand in construction industry |
Major Players
Diesel Engine Market Segmentation
Diesel Engine Market Power Rating Outlook (USD Million, 2019-2030)
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
Diesel Engine Market End User Outlook (USD Million, 2019-2030)
- Construction
- Agriculture
- Power Plants
- Others
Diesel Engine Market Regional Outlook (USD Million, 2019-2030)
- North America Outlook (USD Million, 2019-2030)
- North America Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- North America Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- US Outlook (USD Million, 2019-2030)
- US Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- US Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- CANADA Outlook (USD Million, 2019-2030)
- Canada Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Canada Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Mexico Outlook (USD Million, 2019-2030)
- Mexico Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Mexico Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Europe Outlook (USD Million, 2019-2030)
- Europe Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Europe Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Germany Outlook (USD Million, 2019-2030)
- Germany Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Germany Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- France Outlook (USD Million, 2019-2030)
- France Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Russia Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Italy Outlook (USD Million, 2019-2030)
- Italy Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Italy Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- UK Outlook (USD Million, 2019-2030)
- UK Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- UK Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Rest of Europe Outlook (USD Million, 2019-2030)
- Rest of Europe Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Rest of Europe Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Asia-Pacific Outlook (USD Million, 2019-2030)
- Asia-Pacific Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Asia-Pacific Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- China Outlook (USD Million, 2019-2030)
- China Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- China Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Japan Outlook (USD Million, 2019-2030)
- Japan Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Japan Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- India Outlook (USD Million, 2019-2030)
- India Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- India Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- South Korea Outlook (USD Million, 2019-2030)
- South Korea Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- South Korea Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Philippines Outlook (USD Million, 2019-2030)
- Philippines Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Philippines Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Vietnam Outlook (USD Million, 2019-2030)
- Vietnam Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Vietnam Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Indonesia Outlook (USD Million, 2019-2030)
- Indonesia Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Indonesia Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Malaysia Outlook (USD Million, 2019-2030)
- Malaysia Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Malaysia Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Myanmar Outlook (USD Million, 2019-2030)
- Myanmar Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Myanmar Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Thailand Outlook (USD Million, 2019-2030)
- Thailand Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Thailand Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Singapore Outlook (USD Million, 2019-2030)
- Singapore Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Singapore Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Rest of Asia-Pacific Outlook (USD Million, 2019-2030)
- Rest of Asia-Pacific Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Rest of Asia-Pacific Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Middle East & Africa World Outlook (USD Million, 2019-2030)
- Middle East & Africa Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Middle East & Africa Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Saudi ArabiaOutlook (USD Million, 2019-2030)
- Saudi Arabia Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Saudi Arabia Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- UAEOutlook (USD Million, 2019-2030)
- UAE Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- UAE Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- South Africa Outlook (USD Million, 2019-2030)
- South Africa Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- South Africa Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Rest of Middle East & Africa Outlook (USD Million, 2019-2030)
- Rest of Middle East & Africa Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Rest of Middle East & Africa Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Latin America Outlook (USD Million, 2019-2030)
- Latin America Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Latin America Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Brazil Outlook (USD Million, 2019-2030)
- Brazil Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Brazil Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Argentina Outlook (USD Million, 2019-2030)
- Argentina Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Argentina Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Rest of Latin America Outlook (USD Million, 2019-2030)
- Rest of Latin America Diesel Engine Market by Power Rating
- 5-1MW
- 1-2 MW
- 2-4 MW
- Above 4 MW
- Rest of Latin America Diesel Engine Market by End User
- Construction
- Agriculture
- Power Plants
- Others
- Middle East & Africa Diesel Engine Market by Power Rating
- Asia-Pacific Diesel Engine Market by Power Rating
- Europe Diesel Engine Market by Power Rating
- North America Diesel Engine Market by Power Rating
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