Luton, Bedfordshire, United Kingdom, Jan. 10, 2023 (GLOBE NEWSWIRE) — Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Diesel Engines for Constructions and Earth Moving market.
A diesel engine is a type of internal combustion engine that converts the energy in diesel fuel into rotary mechanical energy through compression ignition. The global Diesel Engines for Constructions and Earth Moving market is expected to grow at a 7.1% CAGR from 2021 to 2029. From USD 12.51 billion in 2021, it is expected to exceed USD 21.65 billion by 2029.
Diesel is the preferred technology for the nation’s construction industry, powering more than three-quarters of all heavy construction equipment. On construction sites, diesel-powered vehicles transport supplies, materials, and workers. Earthmovers, bulldozers, bucket loaders, backhoes, cranes, pavers, excavators, and motor graders are well-known construction tools, and all are necessary for constructing and expanding our economic infrastructure. Diesel power is simply not an option for the majority of these machines. There is currently no viable alternative for large construction equipment or equipment with demanding duty cycles.
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|Forecast Period||2022 to 2029|
|Forecast Period 2022 to 2029 CAGR||7.1 %|
|2029 Value Projection||USD 21.65 Billion|
|Market Size in 2021||USD 12.51 Billion|
|Historical Data for||2018-2020|
|Segments covered||By Type, By Application, By Product and By Region|
|Off-Highway Equipment Powers Additional Growth in Diesel Engine Market|
|In the Diesel Engines for Constructions and Earth Moving market, North America had the highest revenue share|
Manufacturers responded by developing engines and equipment with increasingly low-emissions technology, culminating in what is known as fourth generation, or “Tier 4” advanced diesel technology. New advanced diesel technology engines and equipment deliver a 90% reduction in particulate matter (PM) emissions and a 90% reduction in nitrogen oxide (NOx) emissions when compared to previous generations of technology. Diesel engines produce a lot of torque, making them ideal for construction and earthmoving equipment.
Diesel Engines for Constructions and Earth Moving Market: Segmentation
Based On Type
- Two Stoke Diesel Engine
- Four Stoke Diesel Engine
Based on Type the market is bifurcated into Two-stroke diesel engines and four-stroke diesel engines. Two-stroke engines are used on a small scale, in instruments such as chainsaws and wall breakers. This engine is less expensive than four-stroke engines.
Four-stroke engines are used in heavy vehicles used for construction and material transportation. Because they are used in heavy vehicles and machinery, four-stroke engines dominate the market.
Based On Product
Wheel loaders are widely used as bulk handling equipment where productivity is critical. A wheel loader is used to move various types of materials.
Crawler excavators, also known as general-purpose excavators, have a bucket, boom, and arm in the front. This type is available in a variety of sizes. It is an all-purpose excavator, which means it can dig sites, demolish structures and surfaces, trench, and lift heavy objects.
A backhoe loader is a type of heavy equipment vehicle that consists of a tractor-like unit on the front with a loader-style shovel/bucket and a backhoe on the back.
A skid loader is a small, engine-powered machine with rigid-frame lift arms that can be used to attach a variety of labor-saving tools or attachments.
- Mini excavator
- Dragline excavator
- Dump truck
Backhoe loaders and excavators are essential for any construction project. Their demand is very high in developing countries where urbanization is accelerating. Bright prospects for the construction industry will thus broaden this market’s outlook in the coming period.
Based On Application
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The Diesel Engines for Constructions and Earth Moving market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
- North America: includes the US, Canada, Mexico
- Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN, and the Rest of APAC
- Europe: includes the UK, Germany, France, Italy, Spain, Russia, and the Rest of Europe
- South America: includes Brazil, Argentina, and Rest of South America
- Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and the Rest of MEA
In the Diesel Engines for Constructions and Earth Moving market, North America had the highest revenue share. The advanced economies of North America include the United States and Canada. Rising infrastructure investments, technological advancements in propulsion, and the continued growth of regional to global supply chain networks are expected to drive demand for commercial vehicles in North America.
With a market size of USD 51.60 billion in 2019, Asia Pacific is expected to command a significant share of the construction equipment market over the next seven years as governments in the region strategically increase infrastructure capital investments in their respective countries.
The United States, India, and China produce 57% of all construction equipment. These three countries “will lead the industry’s growth trajectory in the coming years.”
The Diesel Engines for Constructions and Earth Moving market key players include Caterpillar, Bharat Earth Movers Limited (BEML), Cummins, JCB, Kubota, YANMAR, Ashok Leyland, Kirloskar, Doosan, Deere & Company, Kohler, Kobelco, Perkins, Volvo Construction Equipment, MTU, Honda, Komatsu, Weichai Holding Group, MAN Engines, Shanghai Diesel Engine, YTO Group, Mahindra Heavy Engines, Greaves Cotton, Guangxi Yuchai Machinery, DEUTZ, Isuzu Motors, other
- August 30, 2022: BHP, Caterpillar, and Finning announce an agreement to replace the entire haul truck fleet at Escondida Mine in Chile
- November 22, 2022: Wabtec launched a project to develop a dual-fuel locomotive engine
- Manufacturers of Diesel Engines for the Construction and Earthmoving Sector
- Raw Material Suppliers
- Traders, Distributors, and Suppliers of Diesel Engines for the Construction and Earthmoving Sector
- Government & Regional Agencies and Research Organizations
- Investment Research Firms
Advancements in Diesel Technology
In 2010, a new ultra-low sulfur diesel fuel was introduced in the United States, allowing many machines to use advanced engine combustion strategies and emissions control technology such as particulate filters and selective catalytic reduction systems.
Hybrid vehicles are gaining popularity because they provide increased productivity and efficiency, resulting in significant cost savings. It enables energy generation and aids the engine. This rising popularity of hybrid vehicles is expected to aid the growth of global diesel engines for the development and earthmoving sectors in the coming years.
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3 Key Trends Impacting the Global Diesel Engines
- Medium and Heavy Vehicles Drive Solid Gains
While diesel vehicles may be on their way out, engines in this sector accounted for only 23% of the industry in 2018. In contrast, nearly 41% of all diesel engines sold globally are used in medium and heavy vehicles, and product sales in this segment have been extremely resilient over the last decade.
- Off-Highway Equipment Powers Additional Growth in Diesel Engine Market
Diesel engines are not only used in heavy vehicles. Diesel engines are used in nearly $47.0 billion in construction, agriculture, mining, and forestry equipment each year, and that figure is expected to rise significantly. Globally, related industrial activity and output are expected to grow through 2023, creating significant demand for new off-highway equipment and diesel engines used in it.
- Stricter Emissions Standards
Government agencies have done a lot to reduce the harmful emissions of diesel engines, and by 2023, almost every country will have new emission standards that are the strictest ever. Manufacturers will keep incorporating new clean technologies into their engines.
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- What are the key segments in the market?
- Who are the major key players in the Diesel engines for construction and earth-moving market?
- What is the current size of the Diesel engines for the construction and earth-moving market?
- What are the key trends in Diesel Engines
- Which region will provide more business opportunities for Diesel engines for construction and earthmoving in the future?
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