Market Size of Diesel Common Rail Injection System Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.50 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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Diesel Common Rail Injection System Market Analysis
The Diesel Common Rail Injection System Market was valued at USD 21.42 billion in 2021, and it is expected to reach USD 27.90 billion by 2027, registering a CAGR of about 4.5% during the forecast period (2022 - 2027).
COVID-19 negatively impacted the market. The COVID-19 pandemic saw a fall in economic growth in nearly all the major regions, thus altering consumer spending patterns. Due to the lockdown executed around several countries, international and national transport have been hampered, which has considerably affected the supply chain of several industries around the world, thus expanding the supply-demand gap. Therefore, failure in raw material supply is anticipated to hamper the production rate of diesel common rail injection systems, which negatively impacts the market growth.
Over the medium term, the rigorous emission norms being enforced by global governmental and environmental agencies are marked to be promoting the growth of the diesel common rail injection systems market. Also, the lower cost of diesel vehicles, as well as the lower cost of diesel in comparison with petrol, is also evenly stimulating the sales volumes of diesel automobiles, thus impacting the market growth. However, increasing demand and penetration of electric vehicles in the automotive sector are anticipated to hinder the market's growth. For instance,
Bharat Stage (BS) norms aim at tighter regulations by reducing the permissible level of tailpipe pollutants. For example, BS-IV - introduced in 2017, allowed 50 parts per million (ppm) of sulfur, while the new and updated BS-VI - applicable from 2020, allows only 10 ppm of sulfur, 80 mg of NOx(Diesel), 4.5 mg/km of particulate matter, 170 mg/km of hydrocarbon and NOx together.
The US Energy Information Administration and the International Energy Agency predicted that the world energy demand is expected to rise by over 50% from now to 2030 if policies remain unchanged. Also, diesel and gasoline are predicted to remain the leading automotive fuels until 2030. Diesel engines are fuel-efficient but have high emissions compared with advanced gasoline engines. Current combustion systems combining the best qualities of diesel engines ensure high efficiency and low emissions.
It is estimated that Asia-pacific will dominate the diesel common rail injection system market, showing considerable growth during the forecast period. Middle-East and Africa is the fastest growing market in the region.
