Global Diesel Engine Market 2018-2022
About this market
Growing popularity of PEVs (plug-in electric vehicles) to drive growth in the market. PEVs offer social, environmental, and economic benefits. These vehicles have low fuel costs because electricity is much cheaper than gasoline, diesel, and petrol. PEVs have 10-time fewer moving parts than diesel-powered cars, and this reduces their maintenance costs. Technavio’ s analysts have predicted that the diesel engine market will register a CAGR of more than 7% by 2022.
Advantages of diesel engines over petrol engines
Better mileage offered by diesel engine over petrol engine is one of the primary factors that favor its use for commercial purpose. Diesel engines are almost 1.5 % more efficient than petrol engines. Diesel engines work on diesel cycle while petrol engines work on otto cycle.
High cost of diesel engines
Diesel engines are expensive due to various reason. For instance, most petrol engines are naturally aspirated, and diesel engines require turbocharger with intake air intercooler. Diesel engines tend to have a longer stroke due to higher compression, which increases the bore length thus driving costs.
For the detailed list of factors that will drive and challenge the growth of the diesel engine market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Techman-Head Group and Brackett Aircraft Company the competitive environment is quite intense. Factors such as the advantages of diesel engines over petrol engines and the growing popularity of PEVs (plug-in electric vehicles), will provide considerable growth opportunities to diesel engine manufactures. AGCO, Bosch, Caterpillar, Continental, Deere & Company, and MITSUBISHI HEAVY INDUSTRIES are some of the major companies covered in this report.
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