A recent report published by Infinium Global Research on dual fuel engine market provides in-depth analysis of segments and sub-segments in the global as well as regional dual fuel engine market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional dual fuel engine market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global dual fuel engine market. According to the report, the global dual fuel engine market is projected to grow at a CAGR of 9.2% over the forecast period of 2019-2025.
Dual fuel engine is a compression ignition engine that can run on both gaseous and liquid fuels. Dual fuel engine becoming popular in many parts of the world owing its numerous advantages includes low initial cost, lower maintenance cost, and environment-friendly nature. This engine is suitable for LPG and CNG. Additionally, it generates a higher power than the diesel engine. These types of engines are used in locomotives, automobiles, and the electric power generation industry.
Diesel emissions contribute to a considerable amount of air pollution across the globe. Combustion of diesel results in the emission of harmful pollutants such as carbon monoxide, nitrogen oxides, hydrocarbons, and many others. This, in, turns, led the adoption of new technologies such as dual fuel engine to ensure that their products have the high-performance level while meeting the stringent emission norms. Moreover, stringent regulation by several government bodies such as European Industrial Emissions Directive and the U.S. Environmental Protection Agency regarding the reduction of harmful pollutants in the North America and Europe region is likely to have a positive impact on the growth of dual fuel engine market over the forecast period. Additionally, increasing awareness about more-efficient and reliable marine propulsion is augmenting the market growth. On the other hand, a number of manufacturers are now developing dual fuel engines is providing fruitful opportunities for the growth of the market in the near future.
Among the geographies, Asia-Pacific is dominating the global dual fuel engine market over the forecast period. The growth of this region is attributed owing to the extensive presence of prominent end-user industries. Additionally, the growing demand to reduce engine emissions in recent years has led to an interest in dual fuel engine market in the Asia-Pacific region. Currently, there are companies in the countries such as Italy, the United Kingdom, and Canada, are supplying a variety of dual fuel engines is likely to augment the growth of Europe dual fuel engine market over the forecast period.
The report on global dual fuel engine market covers segments such as end-user. On the basis of end-user, the sub-markets include power generation, marine, automobiles, and other end-users.
The report provides profiles of the companies in the market such as Yanmar Co., Ltd., Woodward, Inc., Hyundai Motor Company, HEINZMANN GmbH & Co, ABC Diesel, Wärtsilä Oyj Abp, MAN Energy Solutions, Kubota Corporation, Cummins, and Caterpillar Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of dual fuel engine market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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