Vehicle Diesel Engine Market to Reach $54.7 Billion, Globally, by 2032 at 2.5% CAGR
Allied Market Research
The global vehicle diesel engine market is experiencing growth due to several factors such as rise in infrastructural development in various regions and increase in automotive production in the transportation industry.
PORTLAND, Ore., Aug. 13, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Vehicle Diesel Engine Market by Speed (Low, Medium, and High), and Power Rating (Below 0.5 MW, 0.5 to 1.0 MW, and 1.1 to 2.0 MW): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the vehicle diesel engine market was valued at $44.3 billion in 2023, and is estimated to reach $54.7 billion by 2032, growing at a CAGR of 2.5% from 2024 to 2032.
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Prime determinants of growth
The global vehicle diesel engine market is experiencing growth due to several factors such as rise in urbanization in development countries and increase in the production of vehicles. However, high operation costs and fuel costs hinder the market growth. Moreover, growth in development of vehicle diesel engines offers remunerative opportunities for the expansion of the global market.
Report coverage & details:
Report Coverage |
Details |
Forecast Period |
2023–2032 |
Base Year |
2023 |
Market Size in 2023 |
$44.3 billion |
Market Size in 2032 |
$54.7 billion |
CAGR |
2.5 % |
No. of Pages in Report |
324 |
Segments Covered |