The latest report on “Dual Fuel Engine Market (End-user – Power Generation, Marine, Automobiles, and Other End-users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global dual fuel engine market is projected to grow at a CAGR of 9.2% over the forecast period of 2019-2025.
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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 engines to ensure that their products have a high-performance level while meeting the stringent emission norms. Moreover, stringent regulation by several government bodies such as the 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 the 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.
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The report on the 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.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the dual fuel engine.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.