Analysis on Impact of COVID-19- Diesel Engines Market for Non-automotive Applications 2020-2024 | Evolving Opportunities with AB Volvo and Caterpillar Inc. | Technavio
LONDON--(BUSINESS WIRE)--Aug 21, 2020--
The global diesel engines market for non-automotive applications is expected to grow by USD 13.27 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 6%.
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Technavio has announced its latest market research report titled Global Diesel Engines Market for Non-Automotive Applications 2020-2024 (Graphic: Business Wire)
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Read the 120-page report with TOC on "Diesel Engines Market for Non-Automotive Applications Analysis Report by End-user (Marine, Construction, Agriculture, and Generators), Geography (APAC, Europe, North America, South America, and MEA), and the Segment Forecasts, 2020-2024".
The market is driven by technological advances. In addition, the gradual conversion of conventional engines to dual fuel is anticipated to boost the growth of the diesel engines market for non-automotive applications.
Diesel engine manufacturers are continuously implementing several changes and modifying various aspects to improve the overall efficiency of diesel engines. Some of the recent technological advancements include modification of the pre-chamber and combustion chamber, the use of ceramic fittings and soundwave-absorbing materials to reduce noise levels, exhaust gas recirculation systems (EGR), selective catalyst reduction (SCR), and others. For example, the use of SCR in diesel engines reduces the overall emissions by almost 95%. The technique converts NOx into a form that is not harmful to the environment. Many such technological advancements are driving the growth of the global diesel engines market.
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Major Five Diesel Engines for Non-Automotive Applications Companies:
AB Volvo operates its business through segments such as Industrial Operations and Financial Services. The company offers a wide range of diesel engines for non-automotive applications. Volvo Penta is one of its key offerings.
Caterpillar Inc. operates its business through segments such as Resource Industries, Construction Industries, Energy and Transportation, and Financial Products. The company offers commercial propulsion engines, high-performance propulsion engines, marine auxiliary engines, industrial diesel engines, and diesel engines for power generation.
Cummins Inc. operates its business through segments such as Engine, Distribution, Components, Power Systems, and New Power. The company offers a wide range of diesel engines for agriculture, construction, railways, and mining applications. Some of its key offerings include F3.8/F4.5 Structural Engine, Duty X12 and X15 engines, 750-hp QSK19, QSF2.8, QSF3.8, QSX15, QSK23, QSK19, QST30, and others.
Daimler Trucks North America LLC (Detroit Diesel Corp.)
Daimler Trucks North America LLC (Detroit Diesel Corp.) operates its business through segments such as Engines, Axles, Transmission, Powertrain, and Technology & Safety. The company offers a wide range of diesel engines for non-automotive applications. Some of its key offerings include V71 Series, In-Line 71 Series, 53 Series, and others.
J C Bamford Excavators Ltd.
J C Bamford Excavators Ltd. operates its business through the Construction equipment segment. The company offers Naturally Aspirated/Turbocharged or Turbocharged Aftercooled 4 cylinder 4.4 litre engine, Stage IIIa/Tier 3 Turbocharged Aftercooled 4 Cylinder 4.4 litre engines, Turbocharged Aftercooled Electronic 6 cylinder 7.2 litre engines, and others.
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Diesel Engines Market for Non-Automotive Applications End-user Outlook (Revenue, USD Billion, 2020-2024)
Diesel Engines Market for Non-Automotive Applications Geography Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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PUB: 08/21/2020 01:30 AM/DISC: 08/21/2020 01:30 AM