The diesel power engine market is estimated to grow at a CAGR of 3.78% from 2017 to 2022, to reach a market size of USD 9.13 billion by 2022. Diesel power engines are used for power generation by end-users such as industries, commercial, and residential. The rising demand for reliable power and growing urbanization are some of the factors contributing to the growth of the diesel power engine market.
Asia Pacific is estimated to be the fastest growing market for diesel power engine from 2017 to 2022. The increasing need for power generation, particularly in China and India, along with rising investments in manufacturing, commercial complexes, process, and other industries, has increased the demand for a constant supply of uninterrupted power. Downtime in any industry is costly, and quick start power generation can aid in improving the overall plant efficiency and minimize unwanted cost overruns. These factors are expected to drive the growth of the diesel power engine market in Asia Pacific. China and India are estimated to be the two largest markets for diesel power engine in the region in 2017. In addition, the diesel power engine market is expected to grow significantly in countries such as Australia and Bangladesh during the forecast period.
Download PDF Brochure – https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=65999135
The standby segment is expected to be the fastest-growing segment of the diesel power engine market from 2017 to 2022. The growth of this segment can be attributed to the widespread application of backup power across various end-users. The use of standby engines in commercial buildings, residential societies, and industrial applications in case of power interruption and backup applications in CHP and other power plants has also resulted in the higher demand for standby engines. Asia Pacific and South America are estimated to be the fastest growing markets for diesel power engine and offer lucrative business opportunities for standby manufacturers.
The 1 MW–2MW segment is expected to be the fastest growing market, by power rating, from 2017 to 2022. The diesel engines of this power rating find application in large residential areas and industrial applications. The 0.5MW–1 MW segment is expected to grow at the second highest CAGR from 2017 to 2022 as these are used in large applications in commercial spaces and universities. Thus, there are lucrative business opportunities in the 1 MW–2MW and 0.5MW–1 MW segments.
The industries segment is expected to be fastest-growing diesel power engine market, by end-user, from 2017 to 2022 due to increasing industrialization in developing economies. The major industries that use diesel power engine include cement, pharmaceutical, datacenter, metals and mining, automotive, oil & gas, and paper and pulp. Various operations in these industries require an uninterrupted power supply, which helps to enhance the productivity. These factors are expected to create new revenue pockets for the diesel power engine market in the industries segment during the forecast period.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email : sales@marketsandmarkets.com
MnM Blog :https://mnmblog.org
