IMARC Group, a leading market research company, has recently releases report titled “Dual Fuel Engine Market by Type (Four-Stroke Dual-Fuel Engines, Two-Stroke Dual-Fuel Engines), End User (Marine, Power Generation), and Region 2024-2032.” The study provides a detailed analysis of the industry, including the global dual fuel engine market trends, share, size, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the dual fuel engine market?
The global dual fuel engine market size reached US$ 3.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 13.0 Billion by 2032, exhibiting a growth rate (CAGR) of 14.67% during 2024-2032.
What is Dual Fuel Engine?
A dual-fuel engine represents an internal combustion (IC) engine that uses a blend of two different fuels. It runs on primary (main) and secondary (pilot) fuel, where the primary source is typically a gaseous fuel, including hydrogen or syngas, or natural gas, which is injected into the intake manifold. On the other hand, the secondary or pilot fuel is injected into the combustion chamber utilizing the standard fuel injection equipment and is used to ignite the mixture. Dual fuel engines produce similar or higher state and transient performance in terms of power output, torque, and fuel conversion efficiency, reduce the environmental impact of oil and gas operation, and offer cost-effectiveness and reduced fuel consumption.
Request PDF Sample of the Report: https://www.imarcgroup.com/dual-fuel-engine-market/requestsample
What are the growth prospects and trends in the dual fuel engine industry?
The widespread adoption of the product in the automotive industry across the globe, which is used in compression ignition (CI) engines to encourage the use of more readily available gaseous fuels or more effective advanced combustion modes, is primarily driving the dual fuel engine market. Furthermore, the increasing utilization of these engines for land-based oil and gas drilling applications, as they deliver the same power density, torque curve, and transient response as the base diesel engine, is augmenting the market growth.
Apart from this, the launch of the dual fuel combustion system in a mining truck which includes an onboard hydrogen storage system and replaces significant volumes of diesel, on account of the growing environmental consciousness among the masses, is positively influencing the global market. Moreover, the integration of machine learning (ML) with these engines that are used to predict the performance and emission characteristics and indicate the biogas fuel, torque, and intake temperature is expected to drive the dual fuel engine market in the coming years.
Who are the key players operating in the industry?
The report covers the major market players including:
- Anglo Belgian Corp.
- Caterpillar Inc.
- Cummins Inc.
- Daihatsu Diesel Manufacturing Co. Ltd.
- Heinzmann GmbH and Co. KG
- Hyundai Motor Company
- Kawasaki Heavy Industries Ltd.
- MAN Energy Solutions SE
- Wartsila Corp.
- Yanmar Co. Ltd.
What is included in market segmentation?
The report has segmented the market into the following categories:
Type Insights:
- Four-Stroke Dual-Fuel Engines
- Two-Stroke Dual-Fuel Engines
End User Insights:
- Marine
- Power Generation
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Ask Analyst for Customized Report: https://www.imarcgroup.com/request?type=report&id=6818&flag=E
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Media Contact:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
