Published Date : Mar 29, 2017
ALBANY, New York, March 29, 2017 – The global diesel engine market for non-automotive applications has been envisioned to set its growth on the pivotal demand created by top end users such as those operating in the agricultural equipment, construction, and marine industries. According to a report added by MarketResearchReports.biz, titled “Global Diesel Engines Market for Non-Automotive Applications 2017-2021,” the market could rise at a CAGR of 5.82% on the back of technological advancements boosting the diesel engine technology.
Diesel is a highly dominating type of fuel used for functioning generators because of its easy availability and inexpensive price. Even though there has been a continuing focus on non-diesel and substituting environment-friendly fuels such as natural gas, the analysts foresee the demand for diesel to keep growing with the development in technology. The global diesel engine market for non-automotive applications could gain a telling impetus as diesel engines play a critical role in effectively improving combustion chambers to offer competitive fuel economy, optimum combustion rates, and lower level of emissions.
A host of impactful opportunities have been prognosticated to arise from the marine sector as it could account for a larger share in the world diesel engine market for non-automotive applications. The marine market for diesel engine for non-automotive applications has been envisaged to rake in a humungous growth with the surging application of marine diesel engines in the operation of recreational ships and commercial vessels.
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With smart city programs put to good effect and the elevating inclination toward development undertakings, Asia Pacific could continue its dominance in the international diesel engine market for non-automotive applications. The authors of the report foretell the region to collect a strong demand for diesel engines from the aforementioned top end users. The Americas and EMEA are other regions creating growth opportunities in the global diesel engine market for non-automotive applications.
Major players in the world diesel engine market for non-automotive applications have been studied to invest their efforts in complying with the strict laws defined by different regions. Moreover, they could look to distinguish their offerings in the market with a view to sustain their statuses. As buyers shift their preference to engines that are energy efficient, the competition could aggravate even more. Global companies have been anticipated to concentrate on after-sales services and of course, efficiency and quality. As a result of a widespread presence of international and regional vendors, the diesel engine market for non-automotive applications could exhibit a fragmented nature.
Wrtsil, Mitsubishi Heavy Industries, MAN, Cummins, and Caterpillar are the leading players in the global diesel engine market for non-automotive applications that have been profiled by the analysts. The report has been deemed to offer a precise study of the competitive scenario prevailing in the global market.
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