Market Size of Diesel Power Engine Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Diesel Power Engine Market Analysis
The Diesel Power Engine Market size is expected to grow from USD 8.50 billion by the end of this year to USD 10.54 billion after five years, at a CAGR of 4.40% during the forecast period.
- Over the medium period, factors such as the demand for reliable electricity and the development of commercial and industrial infrastructures are driving the diesel power engine market.
- On the other hand, the abundance of natural gas, coupled with its environmental soundness, has led to an increasing shift towards natural gas engines as an alternative to diesel engines in various end user industries and is expected to restrain the growth of the diesel engine market during the forecast period.
- Nevertheless, rising electrification projects in Africa, such as Western Africa Regional Off-Grid Electrification Project, present immense opportunities for the diesel power engine market players in the coming years.
- Asia-Pacific is expected to be the largest and fastest-growing market, with the majority of the demand coming from countries like India, China, etc.
