The Global Diesel Engines for Constructions and Earth Moving Market: An Overview of Growth, Trends, and Opportunities 09-18-2023 06:54 AM CET | Busin
Key Highlights :
The global diesel engines for constructions and earth moving market is expected to grow at a CAGR of 7.1% from 2021 to 2029. It is expected to reach above USD 21.65 billion by 2029 from USD 12.51 billion in 2021, according to the latest report by Exactitude Consultancy. The increasing demand for diesel engines in construction and earthmoving applications is driving the market expansion.
The report provides a comprehensive analysis of the global diesel engines for constructions and earth moving market, with sales of diesel engines for constructions and earth moving broken down by region, market sector, and sub-sector, in US$ million. It includes a SWOT analysis of the major suppliers and a thorough market study and vendor landscape.
Market Overview
The Asia Pacific region is expected to witness the fastest growth during the forecast period, owing to the increasing infrastructure development in countries such as China and India. The market can be segmented by engine type, application, and geography. By engine type, the market is segmented into single-cylinder and multi-cylinder engines.
The Function of Diesel Products & Engines in the Construction Sector
Construction companies are turning to clean diesel engines due to increasingly strict environmental regulations and consumer demands for greater fuel efficiency. These engines are designed to provide construction machinery with the necessary power while reducing pollution and fuel consumption.
Competitive Analysis
The research identifies the key factors that will drive growth, as demand is determined by a buyer's financial resources and the rate at which an item develops. Key companies and new entrants can gain insight into the spending reports of major market participants in this area, which will help them better appreciate the opportunities for investment in the global diesel engines for constructions and earth moving market.
Major companies in the diesel engines for constructions and earth moving market include Caterpillar, Cummins, MAN, Mitsubishi Heavy Industries, Detroit Diesel, Deutz, Fairbanks Morse, GE Transportation, HATZ Diesel, Henan Diesel Engine Industry, Volvo Construction Equipment MTU, and Honda.
Market Segmentation
By type, the diesel engines for constructions and earth moving market is segmented into two-stroke diesel engine and four-stroke diesel engine. By application, the market is segmented into construction and earthmoving. By product, the market is segmented into wheeled loaders, crawler excavators, backhoe loaders, and skid steer loaders.
By region, the market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Key countries in all regions are covered in the report.
Conclusion
The global diesel engines for constructions and earth moving market is expected to grow at a CAGR of 7.1% from 2021 to 2029. With the increasing demand for diesel engines in construction and earthmoving applications, the Asia Pacific region is expected to witness the fastest growth during the forecast period. Market players can gain insight into the spending reports of major market participants in this area, which will help them better appreciate the opportunities for investment in the global diesel engines for constructions and earth moving market.
