Straits Research Projects That The Diesel Engine Market Will Reach USD 86.9 Billion By 2033

(MENAFN- GlobeNewsWire - Nasdaq) The global diesel engine market size was valued at USD 50.4 billion in 2024 and is projected to grow from USD 53.6 billion in 2025 to reach USD 86.9 billion by 2033, growing at a CAGR of 6.22% during the forecast period (2025-2033).

New York, United States, Jan. 29, 2025 (GLOBE NEWSWIRE) -- A diesel engine is an internal combustion engine that uses diesel fuel to generate power through the compression-ignition process. Unlike gasoline engines, which rely on spark plugs for ignition, diesel engines compress air within the cylinder to extremely high pressures and temperatures, causing the injected diesel fuel to ignite spontaneously. This process delivers higher torque and fuel efficiency, making diesel engines particularly suitable for heavy-duty applications such as trucks, buses, agricultural machinery, and construction equipment.

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Market Dynamics

Demand for diesel in developing economies and infrastructure growth drive the global market

The demand for diesel engines remains strong in developing economies, driven by their reliability and versatility across sectors such as infrastructure, transportation, and energy production. In regions like Africa, South America, and Asia, where electrification remains limited or impractical, diesel-powered equipment is essential for agriculture, mining, and transport.

• According to the U.S. Energy Information Administration (EIA), diesel fuel consumption in non-OECD countries is projected to see significant growth through 2050, fueled by economic expansion and infrastructure development. Energy consumption in these regions is anticipated to increase by nearly 50% between 2020 and 2050, driven by population growth and the development of critical industries.

This trend highlights the enduring importance of diesel technology as a cornerstone for industrial progress and energy accessibility in emerging markets.

Advances in diesel engine efficiency and emission reduction technologies create tremendous opportunities

Advances in diesel engine efficiency and emission reduction technologies are unlocking significant opportunities in the global diesel engine market. Innovations such as turbocharging and common rail direct fuel injection systems have revolutionized fuel efficiency, enabling engines to generate more power while consuming less fuel. For instance, the Cummins X12 engine utilizes cutting-edge fuel delivery and combustion technology, achieving superior fuel economy while meeting emission standards.

Moreover, emission control technologies like selective catalytic reduction (SCR) and exhaust gas recirculation (EGR) are increasingly adopted to comply with stringent environmental regulations. Volvo Penta, for example, incorporates SCR and EGR in its marine diesel engines, significantly reducing nitrogen oxide (NOx) and particulate matter (PM) emissions.

These advancements ensure diesel engines remain essential in industries like transportation and agriculture, where performance, reliability, and fuel efficiency are paramount. By aligning with environmental goals, the industry is poised for sustained relevance and growth.

Regional Analysis

The Asia-Pacific region dominates the global diesel engine market, driven by the rapid growth of the automotive sector in emerging economies such as China, India, and Japan. China, the regional leader, is projected to retain its top position throughout the forecast period, supported by a strong manufacturing base and a high demand for diesel engines in heavy-duty vehicles like trucks and construction machinery.

The expanding e-commerce industry across the region is expected to further drive demand for commercial vehicles, providing a significant boost to market growth. Moreover, increasing urbanization and large-scale infrastructure development in countries like India are set to accelerate the adoption of diesel-powered vehicles, particularly in the logistics and transportation sectors, ensuring sustained growth for the Asia-Pacific market.

To Gather Additional Insights on the Regional Analysis of the Diesel Engine Market@

Key Highlights

• The global diesel engine market size was valued at USD 50.4 billion in 2024 and is projected to grow from USD 53.6 billion in 2025 to reach USD 86.9 billion by 2033, growing at a CAGR of 6.22% during the forecast period (2025-2033).
• Based on Components, the global market is divided into processors, discrete power, sensors, memory, and others. The processor segment dominated the market with the largest market revenue.
• Based on Vehicle Type, the global market is divided into Passenger Vehicles, Light Commercial Vehicles (LCV), and Heavy Commercial vehicles (HCV). The HCVs segment dominated the market with the largest market revenue.
• Based on Application, the global market is divided into chassis, powertrain, safety, telematics & infotainment, and body electronics. The powertrain segment dominated the market with the largest market revenue.
• Based on the Propulsion Type, the global market is divided into Internal Combustion Engine (ICE) and electric. The ICE segment dominated the market with the largest market revenue.
• Asia-Pacific is the highest shareholder in the global market.

Competitive Players

Kubota Corporation

Recent Developments

• In March 2024 , Caterpillar Inc. unveiled the CAT C13D diesel engine, designed specifically for off-highway equipment. This engine focuses on delivering increased power density and improved fuel efficiency.

Market Segmentation

By Component

• Processor
• Discrete Power
• Sensor
• Memory
• Others

By Vehicle Type

• Passenger Vehicle
• Light Commercial Vehicle (LCV)
• Heavy Commercial (HCV)

By Applications

• Chassis
• Powertrain
• Safety
• Telematics & Infotainment
• Body Electronics

By Propulsion Type

• Internal combustion engine
• Electric

By Region

• North America
• Europe
• Latin America
• APAC
• Middle East and Africa

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About Straits Research Pvt. Ltd.

Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data designed and presented for decision-making and ROI.

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