The Rise in the Adoption of Off-Road Diesel Engines is Propelling the Small Diesel Engine Market Growth

HYDERABAD, TELANGANA, INDIA, October 27, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Small Diesel Engine Market size is forecast to reach $4.1 billion by 2027, growing at a CAGR of 2.6% from 2022 to 2027. The Small Diesel Engine are deployed in various end-user industry verticals, such as industrial organizations, cold chain transport systems, commercial and residential establishments and more for various applications in electricity and delivering refrigeration. Air intake and water are two of the most commonly used cooling types for small diesel and gas engines. Cooling plays a vital role in the efficient functioning of the engine as the interior of generators that make use of such engines need to be constantly cooled in order to protect it from damage and ensure its continuing operations. Growth in construction and manufacturing activities owing to the rapid economic recovery of major global economies after the COVID-19 pandemic have significantly increased the adoption of small diesel engine-powered generator systems. This is anticipated to directly boost the demand for Small Diesel Engine during the forecast period. Typically, engines with more than 22kW of power utilize water cooling while smaller, portable diesel engines make use of air intake cooling. This is one of the factors that make engines below 20kW less expensive. Besides, engines with higher power and cylinder capacity also require noise-suppressing components to ensure the engine noise do not exceed acceptable decibel levels during operation. Therefore, engines with higher cylinder capacity and power ranges are anticipated to witness a greater increase in prices during the forecast period owing to the higher commodity costs, material procurement costs and labor costs necessary for manufacturing such equipment. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Report/20079/small-diesel-engines-market.html

Key takeaways:

1. APAC is analyzed to account for the fastest-growing region during the forecast period 2022-2027, due to government spending on solar power generation projects, penetration of wearable devices and others.

2. Government initiatives or regulations towards promoting the use of solar technology along with rising research works harnessing solar energy within the clothing or textile industry is analyzed to drive the Small Diesel Engine industry outlook during the forecast period.

3. Most of the solar cell present in the market is crafted out of 2D, planar amorphous silicon on a rigid/brittle glass substrate, though, these fiber-optic solar cells have a 3D cross-section and retain the glass fiber’s intrinsic flexibility.

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Segmental Analysis:

1. The Water-Cooled segment dominated the Small Diesel Engine Market in 2021 with a revenue of $ 2,160.8 Million and is projected to reach a revenue of $ 2,417.7 million by 2027, growing at a CAGR of approximately 2.4% during the forecast period 2022-2027. The rapid growth of the segment can be attributed to the widespread use of water-cooling systems for Small Diesel Engine with more than 22kW of power.

2. Engine are set to be the fastest-growing segment with a CAGR of 2.8% during the forecast period 2022-2027. This growth can be attributed to the lower price of air-cooled Small Diesel Engine, which makes them more affordable for the end-users.

3. The generators segment dominated the Small Diesel Engine Market size in 2021 with revenue of $ 1,454.8 million and is forecast to reach $1,691.3 by 2027 growing at a CAGR of 2.7% during the forecast period 2022-2027.

4. Refrigerated cold chain vehicles segment is predicted to register the fastest growth rate at a CAGR of 3.1% during the forecast period 2022-2027. The rapid growth of the segment is owing to the rise in the adoption of cold chain vehicles for the transportation and distribution of COVID-19 vaccines in 2021.

5. The Asia Pacific segment dominated the Small Diesel Engine Market size in 2021 with revenue of $1,406.1 million and is forecast to reach $ 1,677.5 million by 2027 growing at a CAGR of 3.1% during the forecast period 2022-2027.

6. According to the Chasing International Economic Institute, infrastructure construction contributed to around 8% of China’s economic growth during the first quarter of 2022. In addition, Asia Pacific region is also projected to be the fastest-growing market with a CAGR of approximately 3.1% during the forecast period.

Competitive Landscape:

The top 5 players in the Small Diesel Engine industry are -

1. Kubota

2. Yanmar Holdings

3. Mitsubishi

4. Kohler Co

5. Cooper Corp

Click on the following link to buy the Small Diesel Engine Market Report:
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Related Reports:

A. Diesel Generator Market
https://www.industryarc.com/Report/15156/diesel-generators-market.html

B. Marine Diesel Engine Market
https://www.industryarc.com/Research/Marine-Diesel-Engine-Market-Research-502334

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