DUBLIN--(BUSINESS WIRE)--The "India Diesel Engine Market (2018-2023): Market Forecast By Types, By Applications, By Regions and Competitive Landscape" report has been added to Research and Markets' offering.
India diesel engine market revenues are projected to grow at a CAGR of 4.9% during 2018-23.
Growth in farm mechanization on account of decreasing labor availability and increasing labor cost are the prime factors driving the demand for diesel engines in India. Further, growing retail & logistics industry in the country is also contributing to the increase in sale of commercial vehicles, thus driving the diesel engine market. Although, the diesel passenger vehicle market volume in percentage terms has declined in 2017 due to shrinking price gap between petrol and diesel fuels.
In India, major demand for diesel engines is generated from automotive industry due to growing demand for passenger vehicles in domestic and export market. Further, growing retail & logistics industry in the country is also contributing to the increase in sales of commercial vehicle, thus driving diesel engine market. Commercial vehicle segment is forecast to surge the overall diesel engine market due to high demand for trucks and buses in the country.
Further, agricultural sector is the second largest consumer in value terms due to high utilization of diesel engines in farm equipment. With farm mechanization rate at just 40%, India is expected to witness growth in demand for self-propelled farm equipment during the forecast period. Decreasing labor availability and increasing labor cost would also lead to growth in farm equipment.
The report provides detailed analysis of the following market segments:
- =30 Hp
- 31-100 Hp
- 101-160 Hp
- 161-200 Hp
- 200-5,000 Hp
- Above 5,000 Hp
- Construction Equipment
- Ashok Leyland Limited
- Bajaj Auto Limited
- Cooper Corporation Private Limited
- Cummins India Limited
- FCA India Automobiles Private Limited
- Greaves Cotton Limited
- Kirloskar Oil Engines Ltd.
- Kohler India Corporation Private Limited
- MHI VST Diesel Engines Pvt Ltd.
- Mahindra & Mahindra Ltd.
- PM Diesels Private Limited
- Simpson & Co. Ltd.
- Tata Motors limited
- Topland Engines Private Limited
For more information about this report visit https://www.researchandmarkets.com/research/x2hg4r/india_diesel