The power sector is constantly evolving toward better efficient technologies. The power sector is projected to have a considerable number of developments over the forecast period due to continuous technology advancement in engine technology. Development of diesel power engine require constant research & development support thus resulting in extensive capital investment at a constant rate.
The market for diesel power engine is expected to have many expansions over the forecast period due to continuous technological advancement in energy sector coupled with increased power demand. The diesel power engine market is also expected to have high development activities by conglomerates and well-established companies.
In the current scenario, there is considerable growth in power sector with rise in energy demand in various regions. The growth is mainly dependent on the uninterruptible power by consumers. Load shedding and Load restoration is expected to act as a hurdle in the growth of the market due to significant entry of alternative energy which is expected to have a negative impact on the diesel engine power market.
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Industry/ Innovation/ Related News:
October, 2017 – Cummins developed revolutionary new diesel engine for U.S. Army that to be lighter and more efficient.
August, 2017 – Mitsubishi Heavy Industries Engine & Turbocharger Ltd (MHIET) received an order for 147 units of diesel gensets, the core line-up in the company’s diesel power plant offerings.
June, 2016 – Volvo Penta introduced D8 diesel engine and the new IPS15 propulsion system into the commercial marine market.
Industry Top Key Players:-
The key players of global diesel power engine market are Caterpillar Inc. (U.S.), Cummins, Inc. (U.S.), MAN SE (Germany), Rolls-Royce Holdings plc. (U.K.), Wärtsilä Corp (Finland), Mitsubishi Heavy Industries, Ltd. (Japan), Volvo Penta (Sweden), Hyundai Heavy Industries Co., Ltd. (South Korea), Doosan (South Korea), Yanmar Co., Ltd. (Japan), Kubota Corporation (Japan) and Kohler Co. (U.S.).
Global Diesel Power Engine Market – Segmentation
The Diesel power engine is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Operation : Comprises Standby, Prime and Peak Shaving
Segmentation by Rated Power : Comprises Up to 0.5 MW, 0.5 – 1 MW, 1 – 2 MW, 2 – 5 MW, Above 5 MW
Segmentation by End-User : Comprises Industrial, Commercial and Residential
Segmentation by Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Market Research Analysis:-
Standby by operation, 1 MW-2 MW by rated power and industrial by end-user are expected to grow at the highest CAGR.
Global Diesel Power Engine Market has been segmented based on operation, rated power, end-user and region. Based on operation, the market is segmented into standby, prime, and peak shaving. Among these, the standby segment is estimated to dominate the diesel power engine market in 2017. Also, it is projected to grow at the highest rate during the forecast period due to the increased requirement for backup power in various applications such as residential, hospitals, and power plants for quick power generation. Based on the rated power the market is segmented into Up To 0.5 MW, 0.5–1 MW, 1–2 MW, 2–5 MW, and Above 5 MW. The 1 MW-2 MW segment is estimated to dominate the diesel power engine market in 2017. Diesel engines of this power rating are used in large residential areas, commercial buildings, universities, and industrial applications for standby and prime applications. Moreover, the growing urbanization and industrialization in regions such as Asia Pacific and the Middle East are expected to drive the growth of this market in the coming years. Based on the end-user, the market is segmented into industrial, commercial, residential. The industrial segment is estimated to be the fastest-growing diesel power engine market, by end-user, from 2017 to 2023.
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