The market for off-highway diesel engines is anticipated to reach US$ 98.6 billion in 2022 and to grow at a CAGR of 6.6% between 2022 and 2032. Along with the market for construction equipment’s rapid global growth, the global market is anticipated to expand.
The purpose of an automobile’s engine is to transform chemical energy into heat energy and mechanical energy from heat energy. These engines burn gasoline to produce heat, and the mechanical energy they produce is then used to power the vehicle. These engines are built with increased torque in mind. Manufacturers of off-highway diesel engines are designing and creating engines to run on alternative fuels such as methanol, ethanol, biodiesel, natural gas, and synthetic natural gas.
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The growing need for contemporary mining and construction machinery is expected to increase demand for off-highway diesel engines. Agriculture and forestry equipment were valued at $24.3 billion globally in 2021. Users are looking for better engines for their automobiles to attain sustainability. Off-highway vehicle emissions reduction technology is being used more frequently, and the availability of low-pollutant engines is urgently needed.
Key Takeaways from the Market Study
- Between 2022 and 2032, the market for off-highway diesel engines is expected to provide an absolute monetary potential of US$ 93.1 billion.
- In 2022, the market for engines larger than 24 litres was valued at US$ 18.7 billion.
- During the predicted period, demand for engines of 750 to 1,000 HP would increase at a CAGR of 7.6%.
- By 2032, the market share for construction and mining equipment is expected to reach 18.5%.
- In Europe, the demand for off-highway diesel engines is anticipated to grow at a CAGR of 5.5%.
Off-Highway Diesel Engine Market Country-wise Insights
The dynamics of the Off-Highway Diesel Engine Market vary across different countries and regions. North America, including the United States and Canada, boasts well-established markets driven by robust construction and agriculture sectors. These regions have adopted cleaner diesel engines to meet stringent emissions standards. In Europe, countries like Germany and France lead in technology and innovation, with a strong emphasis on compliance with environmental regulations. Asia-Pacific, especially China and India, is experiencing rapid urbanization and industrialization, driving growth in the off-highway diesel engine market. Latin America, with countries like Brazil and Mexico, sees growth in the construction and agricultural sectors, while the Middle East’s infrastructure development and Africa’s mining activities create demand for off-highway equipment.
Market Development
- Despite challenging economic conditions, the off-highway diesel engine market’s business environment has a bright outlook. Major manufacturers are resorting to mergers, acquisitions, partnerships, and collaborations to establish a strong foothold in the market.
- Many off-highway diesel engine manufacturers have partnered with new technology companies, prominent industry players, and OEM manufacturers to improve the quality, adopt new technology, and increase their market penetration. Most companies have partnered to improve technology, which will likely help increase the demand for off-highway diesel engines over the coming years.
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Off-Highway Diesel Engine Market Category-wise Insights
The Off-Highway Diesel Engine Market encompasses several key categories, each with its unique dynamics. Construction equipment, including excavators, loaders, and bulldozers, relies heavily on diesel engines for their exceptional torque and reliability. The growth of this category is intricately linked with construction activity levels. Agricultural machinery, such as tractors and harvesters, heavily depends on off-highway diesel engines to power their operations, with demand directly influenced by agricultural sector performance and mechanization trends. Mining equipment, including haul trucks and drilling rigs, demands robust diesel engines to withstand harsh conditions, and its growth aligns with the expansion of mining activities. Industrial equipment, encompassing generators, compressors, and pumps, relies on off-highway diesel engines for power, with demand tied to the industrial sector’s growth. Finally, a diverse range of specialized off-highway equipment, such as forestry machinery, marine vessels, and material handling equipment, caters to specific industry niches, with demand varying based on trends within these sectors.
Competitive Landscape
Diesel engines with low emissions have become the primary focus for manufacturers as they have realized the urgency of the situation. With the help of advanced technologies such as oxidation catalysts, particulate filters, and selective catalytic reduction systems & efficient combustion, these new diesel engines will reduce emissions.
Several marketing strategies have been adopted such as strategic alliances, product launches, partnership agreements, capacity expansions, and many more by industry participants.
Key Companies Profiled
- AGCO
- Deutz
- FPT Industrial
- JCB
- John Deere
- Kohler
- Kubota
- Loncin
- Mahindra
- Mercury
- Scania AB
- Volvo
- Weichai
- Yanmar
- Zongshen Power Co
Segmentation of Off-Highway Diesel Engine Industry Research
- By Engine Type :
- Up to 2 L
- 2-4 L
- 4-8 L
- 8-12 L
- 12-16 L
- 16-20 L
- 20-24 L
- Above 24 L
- By Power Output :
- < 50 HP
- 50 HP – 80 HP
- 80 HP – 120 HP
- 120 HP – 150 HP
- 150 HP – 180 HP
- 180 HP – 220 HP
- 220 HP – 250 HP
- 250 HP – 300 HP
- 300 HP – 500 HP
- 500 HP – 750 HP
- 750 HP – 1,000 HP
- Above 1,000 HP
- By Application :
- Construction Equipment
- Agriculture & Forestry Equipment
- Landscape & Maintenance Equipment
- Mining Equipment
- Industrial Trucks
- Power Sports
- Marine
- Genset
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
The Off-Highway Diesel Engine Market’s prospects are closely tied to various factors influencing its growth. Global economic trends significantly impact the market, as economic growth often translates to increased construction, infrastructure development, and subsequently, a heightened demand for off-highway equipment. Stringent environmental regulations and emissions standards have pushed manufacturers to innovate and develop cleaner diesel engines while ensuring engine efficiency remains uncompromised. Technological advancements play a pivotal role in this market, with continuous research and development efforts resulting in the integration of advanced technologies such as electronic controls, hybrid systems, and telematics. Emerging markets, particularly in Asia and Latin America, are expected to fuel demand for off-highway diesel engines as rapid urbanization and industrialization drive the need for heavy machinery.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global off-highway diesel engine market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of engine capacity (up to 2 L, 2-4L, 4-8L, 8-12L, 12-16L, 16-20L, 20-24L, above 24L), power output (<50 HP, 50 HP – 80 HP, 80 HP – 120 HP, 120 HP – 150 HP, 150 HP – 180 HP, 180 HP – 220 HP, 220 HP – 250 HP, 250 HP – 300 HP, 300 HP – 500 HP, 500 HP – 750 HP, 750 HP – 1000 HP, above 1000 HP), and application (construction equipment, agriculture & forestry equipment, landscape & maintenance equipment, mining equipment, industrial trucks, power sports, marine, gensets), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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