According to the new
market research report "Diesel
Power Engine Market by Operation (Standby, Prime, and Peak Shaving), Rated
Power (Up To 0.5 MW, 0.5–1 MW, 1–2 MW, 2–5 MW, and Above 5 MW), End-User
(Industrial, Commercial, Residential), and Region - Global Forecast to 2022 ",
published by MarketsandMarkets™, 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.
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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.
Browse and in-depth TOC on "Diesel Power
Engine Market"
69- Tables
45 - Figures
144 - Pages
View more detailed
TOC @
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.
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