Diesel engine market size expected to grow by USD 78.8 billion by 2028

Chicago, May 24, 2023 (GLOBE NEWSWIRE) — The global Diesel Engines Market is projected to reach USD 78.8 billion in 2028 from USD 63.9 billion in 2023 at a CAGR of 4.3% according to a new report by MarketsandMarkets™. Diesel engines used in the marine sector are expected to gain a significant market share in the coming years. Development in hybrid power generation in rural and remote locations offers exciting opportunities for the rise of the diesel engine in the market. Factors including the increased need for backup power production for power expansion, international marine freight transit improvement, and maritime tourism development primarily drive the diesel engine market. The propulsion systems and diesel engine market will continue to expand as more marine vessels would be required for defense and patrol.