#Diesel Power Engine Market Trends

[vipinmishra]

Demand for Reliable Backup Power Propels Diesel Power Engine Market

Global Diesel Power Engine Market is expected to grow owing to increasing industrialization and the demand for reliable backup power throughout the forecast period.

According to TechSci Research report, “Diesel Power Engine Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028”, the Global Diesel Power Engine Market is expected to register robust growth during the forecast period. The expanding utilization of diesel power engines across various sectors, including agriculture, marine, mining, and construction, is propelling the growth of the diesel power engine market. This surge is primarily driven by the growing demand for electricity.

There is a growing demand for cleaner and more fuel-efficient diesel engines that comply with stringent emission regulations. Manufacturers can invest in research and development to create innovative technologies like advanced exhaust after-treatment systems, high-pressure common rail fuel injection, and advanced combustion strategies to reduce emissions further.

Combining diesel generators with renewable energy sources like solar and wind can create efficient and sustainable hybrid microgrids for powering remote communities, industrial sites, and critical facilities.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the "Global Diesel Power Engine Market." https://www.techsciresearch.com/report/global-diesel-power-engine-market/2184.html

Based on application, the Standby segment is expected to dominate the market during the forecast period. The growth in the global diesel power engine market is primarily fueled by the imperative for uninterrupted power supply in critical infrastructure sectors such as healthcare, telecommunications, and finance. Standby generators powered by diesel are often the pragmatic choice for ensuring a stable power supply in remote and off-grid locations. Manufacturers are actively developing standby generators with advanced emission reduction technologies like selective catalytic reduction (SCR) and diesel particulate filters (DPF) to comply with stringent emissions standards.

Moreover, standby power generators can contribute to microgrid solutions, offering localized power generation and resilience in the face of grid disruptions. Improving the operational and standby efficiency of standby generators not only leads to cost savings but also reduces the environmental impact. In conclusion, the standby power segment of the global diesel power engine market experiences continued growth driven by the demand for dependable backup power, particularly in critical infrastructure and industrial applications. Despite challenges related to emissions and competition from alternative technologies, the industry is evolving through trends such as hybrid solutions, digitalization, and a focus on cleaner fuels. There are ample opportunities for growth and innovation, especially in the areas of energy efficiency and sustainability.

Based on industry vertical, the Commercial segment is projected to dominate the market throughout the forecast period. The commercial segment within the global diesel power engine market encompasses a wide range of applications in various industries, including transportation, construction, agriculture, logistics, and more. The commercial segment is one of the largest and most diverse segments within the diesel power engine market, accounting for a significant share of the total market revenue. Commercial vehicles, including trucks and buses, play a vital role in the transportation of goods and people, driving the demand for diesel engines in these applications. The construction and industrial sectors heavily rely on diesel-powered equipment, such as excavators, loaders, and generators, to carry out a multitude of tasks.

Meeting stringent emission standards, such as Euro 6 in Europe and Tier 4 in the United States, poses a significant challenge for diesel engine manufacturers in the commercial segment. With increasing environmental concerns, there is growing competition from alternative propulsion technologies, such as electric and natural gas, in specific commercial applications. Manufacturers are continuously striving to improve fuel efficiency in commercial vehicles and equipment powered by diesel engines to reduce operating costs and minimize environmental impact. Opportunities exist in the development of commercial diesel engines capable of running on alternative fuels, such as biodiesel, renewable diesel, or natural gas, to reduce emissions and achieve sustainability objectives.

Key market players in the Global Diesel Power Engine Market are:-

Caterpillar Inc.

Cummins Inc.

Kohler Co

Volvo AB

Mitsubishi Heavy Industries Ltd

Wartsila Oyj Abp

Hyundai Heavy Industries Co. Ltd

Man SE

Rolls-Royce Holding PLC

Doosan Corp.

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“The Diesel Power Engine Market in Asia Pacific is poised to be the dominant force in the industry. Certain countries in the region are actively exploring hybrid and electric technologies, particularly in urban transportation and smaller vehicles. This trend is in line with global initiatives to mitigate emissions and address climate change. The increasing prevalence of digital technologies, such as telematics and remote monitoring, is aiding operators in optimizing engine performance and minimizing maintenance expenses.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Diesel Power Engine Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Type (On-road Diesel Engine, Off-road Diesel Engine and Others), By Rating (Up to 0.5 MW, 0.5–1 MW, 1–2 MW, 2–5 MW and Above 5 MW), By Application (Standby, Peak Shaving, Prime/Continuous Power and Others), By Industry Vertical (Industrial, Commercial and Residential), By Region, By Competition Forecast & Opportunities, 2018-2028,” has evaluated the future growth potential of Global Diesel Power Engine Marketand provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Diesel Power Engine Market.

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Diesel Engines Market: A Global and Regional Analysis, 2023-2033

The diesel engine market is growing due to increased demand for reliable power supply, driven by urbanization and industrialization. Advancements in diesel engine platforms for heavy-duty applications and compliance with emissions standards further propel growth.

[researchvishal]

Rail Wheel and Axle Market Analysis by Size, Share, Growth, Trends up to 2033

During the forecast period, the global rail wheel and axle market size is expected to expand at a steady CAGR of 5.6%. At its present growth rate, the global market for rail wheels and axles is expected to be worth $4,402.3 million by the year 2023. In 2033, the demand for rail wheel and axle is projected to reach US$ 7603.4 Mn.

Competitive Landscape

The global rail wheel and axle market is highly competitive, with many companies operating in this space. These companies are engaged in a range of activities, including the production of rail wheels and axles, the repair and maintenance of these products, and the supply of related services.

There are several key players in the global rail wheel and axle market, including Amsted Rail, ArcelorMittal, Bradken, GE Transportation, Klöckner Pentaplast, Lucchini RS, NSSMC, Vyatka, and Wabtec. These companies are well-established players with a strong presence in the market and a reputation for producing high-quality products.

Overall, the global rail wheel and axle market is highly competitive, with a diverse range of companies operating in this space. Companies in the market are constantly seeking ways to differentiate themselves from their competitors, such as through the development of new technologies or the expansion of their product offerings.

For more information: https://www.futuremarketinsights.com/reports/rail-wheel-and-axle-market

Due to the growing sophistication of rail networks and trains, as well as the present trend toward autonomous technology, train makers are devoting significant resources to R&D to develop lighter materials for wheels and axles for freight trains, passenger trains, and short-distance trains.

Nearly 7 billion people take trains each year, and they all want to travel as quickly, easily, and economically as possible. It's for this reason that the research and development of fully driverless trains is continuing to advance. Computerized monitoring systems installed on autonomous trains can detect problems with rail wheels and axles.

There are numerous benefits to using a solar rail system instead of traditional diesel trains. Diesel-powered trains usually have two engine cars. In contrast, solar-powered trains use solar gears in place of traditional gears. Solar panels have been put on the bogie roofs, and electric motors and batteries have been installed in the second diesel compartment.

The electrical needs of railway engines, which normally require 750 V to 800 V to move the rails, may be met by solar panels set atop trains providing voltages of 600 V to 800 V. Demand for these trains is likely to rise, which is good news for manufacturers of rail wheels and axles.

The rail wheel and axle market is an important segment of the global rail transportation industry. Rail wheel and axle products are essential components of rail vehicles, such as trains, trams, and subway cars, and are used to support and propel these vehicles. There are several factors that are driving the global rail wheel and axle market, including growth in rail transportation, urbanisation and population growth, environmental concerns, and technological advancements.

However, the demand for rail wheel and axle is also facing several restraints or challenges, including high capital costs, cyclical demand, a complex supply chain, competition from other modes of transportation, and regulatory challenges. Despite these challenges, the rail wheel and axle market is expected to continue growing in the coming years, driven by increasing demand for rail transportation and ongoing technological advancements in the industry.

Key Takeaways

It is estimated that the US market for rail wheel and axle will be worth $570.8 million in 2022.

Market value in China, the world's second largest economy, is projected to reach $878 million by 2026, expanding at a CAGR of 6% from 2023 to 2033.

Over the projection horizon, both Japan and Canada are predicted to grow at rates of 2.9% and 3.8%, respectively.

The demand for rail wheel and axle in Germany is projected to expand by 3.3% this year.

[sheppartonhyundai]

What Makes Electric Cars for Sale So Popular Today

 Electric cars are no longer just a trend—they're quickly becoming the future of driving. With their eco-friendly benefits, cutting-edge technology, and impressive performance, electric vehicles (EVs) dominate the roads. If you're looking to switch to an electric car, car sales Shepparton offers a wide range of options to suit every lifestyle and budget. But what exactly is driving this surge in popularity? Let's dive into what makes electric cars appealing today and why they might be the perfect choice for your next vehicle.

The Rise of Electric Cars: Why Are They So Popular?

Electric cars aren’t just a passing trend—they represent a massive shift in how we think about transportation. But what makes them so appealing? Let’s break down the reasons behind the rise of electric vehicles and why they dominate the car sales market today.

1. Eco-Friendly Driving

The most obvious reason for electric cars' popularity is their positive environmental impact. Unlike traditional petrol or diesel cars, electric vehicles produce zero emissions, making them a cleaner choice for the planet. 

With the growing concern over climate change and air quality, electric cars have become a sustainable alternative to fossil-fuel-powered vehicles. This is especially true in places like car sales Shepparton, where local car dealerships are shifting towards cleaner, eco-friendly options for buyers.

2. Cost Savings on Fuel and Maintenance

Electric cars offer a significant reduction in fuel costs compared to traditional vehicles. While the initial purchase price might be higher, the savings in the long run are undeniable. Electricity is generally much cheaper than gasoline, and EV owners often enjoy lower overall operating costs.

Moreover, electric cars have fewer moving parts, which translates to less maintenance. There are no oil changes, complicated exhaust systems, and fewer parts to wear out. This makes EVs a lower-cost option in terms of long-term upkeep. In car sales Shepparton, where cost-conscious buyers are looking for value, these savings have been a major draw for electric vehicle shoppers.

3. Government Incentives and Tax Benefits

Governments worldwide are offering various incentives to encourage the adoption of electric cars. These include tax credits, rebates, and other financial perks designed to make EVs more affordable. In many cases, buyers of electric cars are eligible for discounts or grants, making the upfront cost much more manageable.

4. Technological Advancements

Electric vehicles have come a long way since their inception. Advances in battery technology have made EVs more practical and accessible than ever before. Modern electric cars can travel hundreds of miles on a single charge, and charging stations are becoming increasingly widespread, making long road trips more feasible. The growing availability of fast-charging infrastructure is one of the major reasons electric cars are gaining popularity.

5. A Shift in Consumer Preferences

As consumer preferences evolve, many opt for electric vehicles as a more modern, forward-thinking choice. Younger generations, in particular, are looking for sustainable and innovative transportation solutions. For these buyers, electric cars align perfectly with their values, making them the preferred option.

As more people become aware of the benefits of EVs, traditional internal combustion engine vehicles are slowly being left behind in favour of electric models. This shift is visible in car sales at Shepparton, where more customers consider electric options for their environmental impact and because EVs align with their lifestyle and values.

Conclusion

Electric cars are the future of transportation. From reducing our carbon footprint to offering lower operating costs, they are becoming more popular. As more consumers opt for eco-friendly options, the popularity of electric cars continues to grow, driving a shift in car sales worldwide. In places like car sales Shepparton, this change is already in motion, as buyers look for cleaner, more cost-effective alternatives to traditional vehicles.

[marketsndata]

Global Automotive Turbocharger Market Size, Share and Forecast 2032

Global Automotive Turbocharger Market is projected to witness a CAGR of 8.11% during the forecast period 2025-2032, growing from USD 15.46 billion in 2024 to USD 28.85 billion in 2032. Demand for efficiency in fuel consumption increases since users seek better mileage with fluctuations in fuel prices, thereby the increasing environmental awareness contributes significantly to the growth of turbochargers. Turbochargers enhance engine efficiency in smaller sizes, allowing significant power output and reducing fuel consumption. Strict emission standards imposed by the governments of different nations, encourage car manufacturers to consider installing turbocharger systems. Another very significant factor is regulatory pressure in the case of downsizing. Engine downsizing has become popular among automotive companies that would rather make their products light and efficient. Also, turbochargers help them to have greater outputs, which would meet this trend of emission standards. Continuing improvement through electrical turbochargers further boosts performance and efficiency, making the vehicle more desirable to manufacturers as well as consumers. With growing consumer awareness of benefits from turbocharged engines regarding power output and fuel efficiency improvements, acceptance and preference have been increasing for vehicles installed with this technology.

For instance, in July 2023, the IHI corporation’s Oil-free Electric Turbocharger for Fuel Cell Vehicles received the 2020 Technology Award from the Turbomachinery Society of Japan. The award was established in 1983 as an award for excellent technology to encourage the development of technology related to turbomachinery.

Stringent Emission Regulation is Expanding the Global Market Growth

Stringent emission regulations are enormously expanding the global automotive turbocharger market by forcing companies to adopt advanced technologies that enhance engine efficiency and curb harmful emissions. Governments have been implementing stringent standards around the world to minimize the vehicle’s environmental impact, which has become a critical factor in driving global automotive turbocharger market demand. For example, starting in 2025, the European Union has placed tight CO2 emission targets, including new vehicles that should not be over 93.6 grams per kilometer; meanwhile, the U.S. has set Corporate Average Fuel Economy (CAFE) standards, which obligates an average fuel economy of 54.5 miles per gallon for both cars and light trucks by 2025. These regulations force automotive manufacturers to include turbocharging technology in their designs, which enables more modest engines to deliver greater performance while still observing efficiency standards. The automotive industry has gradually realized that turbochargers are tools critical to achieving these high limits required by the standards and regulations. Turbochargers increase combustion efficiency, enhance fuel efficiency, and reduce harmful pollutants in the exhaust, thereby becoming a favorite solution for both gasoline and diesel engines.

For instance, in August 2024 Tata Motors Ltd. dropped Tata Curvv featured with BS6 Phase II-compliant 1.2-litre Direct Injection Turbo-petrol Hyperion Engine, which can produce 123bhp and 225Nm. Compared to the Revotron turbo-petrol engine, the Hyperion generates 123bhp at 5,000rpm and 225Nm of peak torque between 1,700rpm and 3,500rpm.

Technological Advancements Propelling the Market Growth

Improving engine performance and efficiency while addressing environmental concerns. One of the most remarkable innovations is the electric turbocharger, which uses an electric motor to eliminate turbo lag, a common delay in traditional turbochargers that affects throttle response. This technology allows for immediate boost, improving engine responsiveness and overall performance, particularly in hybrid and electric vehicles. For instance, in December 2023, Mercedes-Benz Group AG unveiled an electric turbocharger within its most updated version of the Mercedes-AMG C 43 4MATIC. This model features the world’s very first series-production 2.0-litre four-cylinder engine featuring the electric exhaust gas turbocharger.

In addition, variable geometry turbochargers (VGT) are gaining popularity since they can optimize and boost pressure at various engine speeds. These provide better low-end torque with reduced turbo lag. This is highly sought after in modern automotive applications since manufacturers can make smaller, more efficient engines without losing power output. Advanced materials and smart sensors integrated into the turbocharger designs are also the main contributors to the market growth. These developments add to durability and performance by allowing the turbochargers to run at higher temperatures without losing efficiency. Smart sensors monitor real-time engine parameters, allowing for precise control of boost levels and combustion efficiency, resulting in effective savings on fuel consumption and emissions.

For instance, in October 2024, Kia Corporation launched a new Kia Carnival that will be offered in two variants: Limousine and Limousine Plus. Both variants will be powered by a sole 2.2-litre, four-cylinder, CRDi turbocharged diesel engine with 193hp of power and 441Nm of torque. Compared to the previous generation, the torque is up by 1Nm, and the power has decreased by 7hp.

Dominance of Passenger Cars in the Global Automotive Turbocharger Market

The passenger car segment dominates the largest market share owing to increased disposable income, rising preference for personal travel, and technological advancement in passenger cars. The growing consumer preference for vehicles with enhanced performance and fuel efficiency drives passenger car growth. Turbochargers are highly accepted due to their ability to give high power with low fuel consumption. It, therefore, remains one of the choices for manufacturers to strive for vehicles that are environmentally friendly, and consumers want them to be. It is partly attributed to the increasing numbers of passenger vehicles being rolled out with turbocharged engines by manufacturers seeking to boost efficiency in cars and live up to the environmental rules. The extensive use of turbocharging technology by passenger cars is due to a need for better fuel economy and performance, making this segment the leader in the market. The passenger car segment will continue to remain the market leader in automotive turbochargers with its innovation and incorporation of advanced technologies such as electric turbochargers and variable geometry systems.

For instance, in September 2024, BorgWarner Inc. secured an agreement to supply its turbochargers for use on the General Motors Corvette ZR1 sports car platform, the largest passenger car twin turbochargers in the market to be released to date. Paired with the automaker’s 5.5-liter flat-plane crankshaft V8 engine, this unthinkable Corvette is capable of 1,064 horsepower and 828 pounds of torque.

Asia-Pacific Dominates Global Automotive Turbocharger Market

Growth in automotive manufacturing is primarily promoted due to improving socio-economic conditions and a growing middle-class population, which results in increased demand for personal vehicles in the Asia Pacific region. In addition, tight emission regulations implemented by governments in the region promoted manufacturers to opt for turbocharger technology. These regulations aim at controlling harmful carbon emissions and are enhancing fuel efficiency, with automakers being pushed towards the inclusion of turbochargers in their vehicles. To give an example, nitrogen oxide, and particulate matter are significantly reduced in vehicles in India under the BS-VI emission norms and China 6 standards, for which turbochargers are beneficial by ensuring optimum engine performance. The region’s ability to adapt to changing market dynamics and regulatory requirements will likely continue to drive its growth in the coming years.

For instance, in June 2023, Garrett Motion Inc. celebrated the expansion of its Wuhan Plant in Hubei, China. The company also commemorated the production of 30 million turbochargers in China. The multi-phase expansion of Garrett Motion’s Wuhan facility included its first high-speed automated production line of advanced variable nozzle technology (VNT) for turbo-passenger vehicles.

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Future Market Scenario (2025 – 2032F)

Development of electric turbochargers and variable geometry turbochargers, enhancing engine efficiency and responsiveness.

Governments worldwide are implementing stricter standards to reduce air pollution and carbon emissions, driving the adoption of turbocharging technology.

Increasing vehicle ownership rates driving demand for replacement parts as vehicles age, contributing to growth in the aftermarket segment.

Report Scope

“Automotive Turbocharger Market Assessment, Opportunities and Forecast, 2018-2032F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global automotive turbocharger market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2025 and 2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.

Click here for full report- https://www.marketsandata.com/industry-reports/automotive-turbocharger-market

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Marine Engines Market

Marine Engines Market Size, Share, Trends: Wärtsilä Corporation Leads

Stringent Emission Regulations Driving Demand for Fuel-Efficient and Low-Emission Engines

Market Overview:

The global marine engines market is predicted to develop at a CAGR of 3.1% starting in 2024, reaching USD XX million by 2024 and USD YY million by 2031.

Asia-Pacific currently dominates the market due to the existence of major shipbuilding nations, increased seaborne trade, and developing maritime tourism. Rising worldwide trade, increased demand for fuel-efficient and low-emission engines, and technological breakthroughs in engine design are the primary drivers of market expansion. However, the high cost of sophisticated marine engines and fluctuating oil prices may limit market expansion to some extent.

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Market Dynamics:

The implementation of rigorous emission rules by international maritime organisations is a major driver of demand for fuel-efficient and low-emission marine engines. For example, the International Maritime Organisation (IMO) has set a goal of reducing greenhouse gas emissions from shipping by at least 50% by 2050, compared to 2008 levels. This is intended to accelerate the use of sophisticated marine engines that meet pollution regulations, such as dual-fuel engines and engines powered by LNG and other clean fuels.

Market Segmentation:

The 1,500 kW power segment is likely to hold the greatest market share during the forecast period. This is due to the increasing demand for small and medium-sized marine engines in leisure boats, fishing vessels, and inland waterway transportation. The growing popularity of water sports and leisure activities is likely to propel the category forward. Yanmar's new 6LF and 6LT marine diesel engines, released in 2020, provide enhanced performance and fuel efficiency in the <1,500 kW power range.

The LNG fuel industry is predicted to rise significantly in the next few years, owing to increased use of LNG as a cleaner alternative to traditional marine fuels. LNG-fuelled engines release fewer sulphur oxides, nitrogen oxides, and particulate matter than engines powered by heavy fuel oil. In 2021, CMA CGM, a major shipping corporation, announced intentions to invest USD 2.3 billion in the construction of 22 new LNG-powered containerships.

Market Key Players:

Wärtsilä Corporation

MAN Energy Solutions

Caterpillar Inc.

Cummins Inc.

Rolls-Royce Power Systems

Hyundai Heavy Industries Co., Ltd.

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[pnsintelligence]

Growth Prospects in the Zambian Diesel Genset Market

The Zambian diesel genset market is poised for steady growth, with an estimated value of USD 16.5 million in 2024. Driven by a rising demand for reliable power sources in industries, commercial establishments, and households, the market is projected to grow at a compound annual growth rate (CAGR) of 4.3% between 2025 and 2030, reaching USD 21.2 million by 2030.

Rising Demand for Reliable Power Solutions

The Zambian power infrastructure faces challenges, including inconsistent electricity supply and frequent outages. Diesel generators serve as critical backup power solutions for industries, businesses, and residential users, ensuring continuous operations during power failures. The increasing adoption of gensets in mining, manufacturing, and construction sectors further underscores their importance.

Market Segmentation and Applications

The market is segmented by capacity into low-power, medium-power, and high-power gensets. Low-power gensets (below 75 kVA) dominate residential and small business use, while medium-power gensets (75–375 kVA) cater to commercial and industrial needs. High-power gensets (above 375 kVA) are primarily used in mining and heavy industrial operations.

Key Drivers and Challenges

Key drivers include the expansion of mining activities, ongoing industrialization, and government initiatives to enhance energy access. However, challenges such as environmental concerns over diesel emissions and rising fuel prices could impact market growth.

Innovations and Trends

Manufacturers are introducing eco-friendly and fuel-efficient gensets to meet environmental standards and reduce operational costs. Hybrid gensets, integrating diesel engines with renewable energy systems, are also gaining traction.

To explore detailed market insights, trends, and forecasts, read our comprehensive report: Read Full Report.

[aeautoevcharger]

With the rise of Evs, the upgrade of commercial EV conversion kit has entered the fast lane

As the problem of global warming becomes increasingly serious, various industries are exploring the path of green and sustainable development. The application of AEAUTO ev conversion kit will be imminent, and the commercial vehicle market is brewing huge changes.

The trend of electronic control of power transmission system brings about the explosion of demand for "autonomy and controllability"

The diesel engine electric control system is mainly composed of three parts: sensor, actuator and electronic control module (ECU).

In the field of AMT gearboxes, Europe and the United States are undoubtedly at the forefront. The market share in Europe and the United States and China has formed two completely different pictures. At present, the AMT market share of heavy-duty commercial vehicles in Europe is about 90%, and the market share in the United States is 85%; looking back at the domestic market, in 2020, the penetration rate of AMT gearbox heavy-duty trucks in my country was only 5%. As the domestic pursuit of driving comfort, reliability and intelligence has also increased, the demand for AMT heavy-duty trucks has begun to increase significantly, and it is estimated that the penetration rate will reach 52% by 2025.

The trend of low carbonization and electrification is reshaping the commercial vehicle industry, and new energy commercial vehicles have become a new blue ocean

From the perspective of global industry development, under the influence of global economic fluctuations, the COVID-19 pandemic, chip shortages, etc., the global commercial vehicle market has experienced certain fluctuations between 2017 and 2021. It has now entered a new normal for global automobiles. The overall trend in the future is positive and will continue to grow.

Starting from 2022, the light commercial vehicle and medium and heavy commercial vehicle markets will rebound to a certain extent globally, and the commercial vehicle market will not become a market that simply pursues total volume .

Chart: Global Commercial Vehicle Sales

China's commercial vehicle market data in 2022 showed a "cold and hot" phenomenon. The cold thing was that the overall sales data of the commercial vehicle market was not ideal, a year-on-year decrease of 31.2% to only 3.3 million vehicles; the hot thing was that the sales of new energy commercial vehicles rose against the trend, a year-on-year increase of 79% to 338,000 vehicles.

The sudden explosion of new energy commercial vehicles is due to three factors, in addition to the stimulation of road rights policies in various places and the increased market recognition of new energy products:

First, the economic efficiency is improved, and the TCO cost advantage of electric commercial vehicles is gradually enlarged. As means of production, commercial vehicles have very high operating costs. With the maturity of autonomous driving technology, the improvement of energy replenishment infrastructure, the reduction of related battery costs, and the improvement of battery energy density, new energy and intelligent commercial vehicles will significantly reduce operating costs during operation (such as saving fuel costs, better routes, etc.). In general, the longer the car is used, the lower the marginal cost. For example, for heavy trucks, China expects that the TCO of pure electric heavy trucks will be on par with diesel heavy trucks in 2023. In the long run, after 2030, whether in the European and American markets or the Chinese market, the cost advantages of various new energy heavy trucks will be significantly better than traditional diesel heavy trucks.

Chart: TCO development trend of different types of heavy trucks in China and the United States

Second, under the “dual carbon” goal, carbon reduction in the transportation sector has become a consensus, the new energy bus market has gradually become saturated, the new energy transformation of trucks is continuing, and engineering vehicles have also joined the ranks of electrification.

The carbon reduction requirements will be transmitted from the logistics industry to the commercial vehicle industry. Commercial vehicles are the focus and difficulty of carbon emission reduction in the current automobile industry. Studies have found that the EU commercial vehicle ownership is about 5%, and its carbon emissions account for 40%. As the country puts forward higher carbon reduction and decarbonization requirements for heavily polluting and heavily emitting industries and regions, new energy has become the only way for industries such as steel, aluminum, and ports. Leading logistics companies are also actively proposing decarbonization and carbon reduction targets, and at the same time, carbon reduction measures are implemented through specific measures such as the procurement of new energy vehicles and on-site infrastructure.

Third, with further breakthroughs in core technologies such as new power systems and intelligent networking, the penetration rate of new energy commercial vehicles is expected to grow rapidly.

In response to the expectation of multiple energy forms running in parallel, most leading parts and OEMs are actively deploying core technologies of battery power and hydrogen fuel cells. The United States, Europe, and China are at the forefront of applying these new technologies, and the difference in application rates depends on regional markets, vehicle models, uses, etc., especially the diversification of scenarios.

United States: The penetration rate of new energy vehicles will reach about 25% in 2030, which is lower than the expected proportion in other major markets, mainly affected by the sales of heavy trucks. Given that the United States is sparsely populated and has long transportation distances, it will take longer for new power systems to be widely used in heavy trucks. In contrast, new energy vehicle sales account for the largest proportion of light commercial vehicles in cities, accounting for 36% of the total sales of light commercial vehicles. Among them, battery power systems will account for the largest proportion of new energy vehicle sales, and pure electric vehicles will also lead the sales of electric vehicles, including light commercial vehicles for inter-city transportation and medium trucks for urban transportation.

Chart: Forecast of conversion kit application rate in the United States

Europe: Electric vehicle sales in Europe account for 31% of total sales, higher than the United States but slightly lower than China. Similar to the United States, most electric vehicles sold in Europe are light commercial vehicles used in urban areas, accounting for 46% of total sales, of which pure electric vehicles account for 40%.

Chart: Forecast of conversion kit application rate in Europe

China: With the trend of low carbonization and electrification, electric commercial vehicles have entered an irreversible fast lane, and the market prospects are huge. By 2030, China's EVs sales will be slightly higher than Europe, accounting for 33% of the total sales of commercial vehicles. Thanks to policy support, many battery manufacturers have risen. As a landmark model of commercial vehicles, the electric rate of heavy trucks largely reflects the progress of electric commercial vehicles. The sales of new energy heavy trucks will continue to increase in the next three years, and the new energy penetration rate is expected to exceed 30% in 2030.

Chart: Forecast of conversion kit application rate in China

In Europe and China, the application rate of electric conversion kit technologies in light commercial vehicles may be roughly the same, accounting for 1/3 of total sales. China and AEAUTO is far ahead in the application rate of new technologies in the medium-duty truck market, especially the heavy-duty truck market. The main reasons for China's faster popularization are: the road network is not as extensive, the population density is higher, and the government is driven by low-carbon goals such as reducing automobile emissions.

[businessresearchinsights]

Commercial Internal Combustion Engines Market 2024 Expected to Reach Significant Rate by 2032

Global “Commercial Internal Combustion Engines Market” research report provides an in-depth analysis of the market, including data on unit sales by region, product sales by type [Petroleum Internal Combustion Engines, Natural Gas Internal Combustion Engines] and application [Marine, Automotive, Aircraft, Other], product size, share, growth, and revenue in USD. The report covers the latest market trends, future growth opportunities, and the competitive landscape, so businesses can make informed decisions that support their growth and success.

What Are The Prominent Key Player Of the Commercial Internal Combustion Engines Market?

Caterpillar

CSIC

CSSC

Yanmar

General Motors

Mitsui E&S

DAIHATSU

Mitsubishi

Hyundai

STX Engine

Weichai

Hitachi Zosen

IHI Power

Rolls-Royce (MTU)

Doosan

Kawasaki

Cummins

Kawasaki

MAN SE

Mahindra Heavy Engines

Shanghai Diesel Engine

Browse More Details On This Report at - https://www.businessresearchinsights.com/market-reports/commercial-internal-combustion-engines-market-107796

Commercial Internal Combustion Engines Market Report 2023 Highlights:

Comprehensive Insights: The Commercial Internal Combustion Engines Market Report delivers vital data, statistics, and trends to businesses globally.

Competitive Analysis: It offers in-depth insights into the competitive landscape and industry potential, serving as a critical tool for decision-makers across industries.

Key Regions and Countries: Top-performing markets include the United States, Canada, Mexico, Germany, France, the United Kingdom, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil, and Saudi Arabia. The report also focuses on the development of major regional markets such as North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

Market Evaluation: The report assesses the market potential by examining factors such as type, application, capacity, and end-use industry.

Trends and Dynamics: The global market is analysed based on key drivers, restraints, current trends, and market dynamics.

Industry Forecast: The report provides actionable insights into significant drivers, challenges, and opportunities, helping businesses make well-informed strategic and investment decisions.

Regional Segment of Commercial Internal Combustion Engines Market:

Geographically, the report includes research on production, consumption, revenue, market share, and growth rate, and forecast of the Top Countries Data -

North America (United States, Canada, and Mexico)

Europe (Germany, UK, France, Italy, Russia and Spain, etc.)

Asia-Pacific (China, Japan, Korea, India, Australia, Southeast Asia, etc.)

South America (Brazil, Argentina, Colombia, etc.)

Middle East and Africa (South Africa, UAE, Saudi Arabia, etc.)

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[latestmarketresearchnews]

Microgrid Industry Size, Trends, Value, Sales and Forecast 2030

The global microgrid market size is expected to reach USD 224.34 billion by 2030, registering a CAGR of 17.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The improvement in manufacturing sectors of emerging markets including Mexico, China, and India as a result of favorable government policies to attract investments is expected to promote market growth.

Microgrid differs from conventional electrical distribution systems as it acts as a close proximity medium between the power generation and power consumption sources which results in increasing efficiency and reducing transmission losses. These systems perform dynamic control over energy sources by enabling autonomous as well as automatic self-healing operations.

The rising importance of captive electricity generation as a key alternative to the regulated power supply by municipal regulators in mining and mechanical engineering sectors is expected to have a strong impact. Furthermore, the rising production output of unconventional sources including shale gas in the U.S. and Canada as a result of high utilization of fracking technology is expected to ensure access of natural gas as a power source over the next eight years.

Gather more insights about the market drivers, restrains and growth of the Global Microgrid Market

Microgrid Market Report Highlights

The Combined Heat & Power (CHP) power source segment dominated the global market and accounted for more than 37.0% of the overall revenue share in 2023. Shifting preference from conventional Separate Heat & Power (SHP) system to energy generation from single fuel is expected to have a substantial impact on the segment growth.

The grid-connected product segment dominated the global market and accounted for more than 65.0% of the overall revenue share in 2023. The rising popularity of smart micro-grid-connected PV systems to provide electricity to consumers by reducing transmission losses is expected to have a substantial impact.

North America led the global market and accounted for more than 35.0% of the overall revenue share in 2023. The high adoption rate of captive power generation methods in the industrial and municipal sectors of the U.S. for reducing reliance on the government-controlled power supply is expected to have a substantial impact.

Browse through Grand View Research's Distribution & Utilities Industry Research Reports.

Generator Sets Market: The global generator sets market size was valued at USD 34.2 billion in 2024 and is projected to progress at a CAGR of 9.3% from 2025 to 2030.

LPG Tankers Market: The global LPG tankers market size was estimated at USD 209.41 million in 2024 and is projected to grow at a CAGR of 5.4% from 2025 to 2030.

Microgrid Market Segmentation

Grand View Research has segmented the global microgrid market on the basis of on power source, product, application, and region:

Microgrid Power Source Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)

Natural Gas

CHP

Solar PV

Diesel

Fuel Cell

Others

Microgrid Product Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)

Remote

Grid Connected

Hybrid

Microgrid Application Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)

Government

Education

Commercial

Utility

Defense

Others

Microgrid Regional Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)

North America

US

Canada

Mexico

Europe

Germany

Asia Pacific

China

India

Central & South America

Brazil

Middle East & Africa

Order a free sample PDF of the Microgrid Market Intelligence Study, published by Grand View Research.

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Leisure Power Boat Market Growth Forecast: Innovations and Global Expansion

The leisure power boat market is experiencing dynamic growth, driven by evolving consumer preferences, technological advancements, and increasing disposable incomes. As recreational boating continues to gain popularity worldwide, the leisure power boat segment stands poised for substantial expansion. The market is projected to grow steadily through the next decade, fueled by innovations in design, propulsion systems, and customization. This article delves into the key drivers of growth, emerging trends, and the forecast for the leisure power boat market.

Key Drivers of Growth

Several factors are contributing to the growth of the leisure power boat market. Firstly, increased consumer interest in outdoor recreation is a significant driver. As more individuals and families look for ways to enjoy the outdoors, boating has become a preferred activity. Power boats, known for their speed and luxury, are particularly attractive to affluent consumers seeking premium leisure experiences.

Additionally, rising disposable incomes and lifestyle changes are making leisure power boats more accessible to a broader demographic. As middle-class populations in emerging markets grow, there is an increasing demand for leisure and luxury goods, including power boats. The appeal of owning a boat for personal use, weekend getaways, and water sports is growing, particularly in coastal regions where boating is part of the culture.

Another factor driving growth is technological innovation. Modern power boats are being equipped with cutting-edge features such as fuel-efficient engines, electric propulsion systems, advanced navigation technologies, and smart boat systems that enhance safety, connectivity, and comfort. These advancements are making boats more reliable, efficient, and user-friendly, attracting a larger customer base.

Market Segmentation

The leisure power boat market is diverse, catering to various consumer segments. Key market segments include:

Boat Type: The primary boat types in the leisure power boat market include motorboats, yachts, cabin cruisers, and inflatables. Motorboats are popular for water sports, while yachts and cabin cruisers cater to the luxury segment, offering larger spaces and longer voyages. Inflatable boats are gaining traction due to their portability and ease of use.

Fuel Type: Traditionally powered by gasoline or diesel engines, leisure power boats are increasingly adopting electric and hybrid technologies. This trend is aligned with growing environmental awareness and demand for sustainable products. Electric boats are especially gaining popularity in eco-conscious markets, as they offer quieter, cleaner alternatives to traditional combustion engines.

Application: Leisure power boats serve a variety of purposes, from personal leisure to water sports and tourism. The rising interest in luxury boating experiences and water-based tourism is expanding the market further. Moreover, there is an increasing demand for leisure boats equipped for recreational fishing, water skiing, and other water sports.

Regional Analysis

The leisure power boat market is geographically diverse, with key markets in North America, Europe, and the Asia-Pacific region. North America holds the largest market share, particularly in the United States, where boating is a popular pastime. The U.S. coastal regions, including Florida, California, and the Great Lakes, see high demand for leisure power boats. Additionally, the presence of several prominent power boat manufacturers and a strong culture of recreational boating further boost market growth.

Europe, with its Mediterranean coastline and maritime culture, is another major market for leisure power boats. Countries like Italy, France, and Spain are significant contributors to the regional market, with luxury yachts and cabin cruisers being especially popular.

The Asia-Pacific region, particularly China, Japan, and India, is witnessing rapid growth in leisure power boat demand. The rising affluence in these countries, coupled with increased interest in recreational activities, is creating a surge in the adoption of leisure power boats. With vast coastlines and a growing middle class, these regions present lucrative opportunities for manufacturers.

Trends and Future Outlook

Several key trends are shaping the future of the leisure power boat market:

Sustainability and Eco-friendly Solutions: As environmental concerns rise, manufacturers are focusing on sustainable solutions. The adoption of electric and hybrid boats is expected to increase, offering cleaner, quieter alternatives to traditional powerboats. The integration of eco-friendly materials and the adoption of green manufacturing practices will also drive market growth.

Technological Integration: The rise of connected boats—boats equipped with smart technology, including sensors and IoT devices—will continue to enhance the boating experience. These technologies offer features like real-time weather monitoring, GPS tracking, remote control, and predictive maintenance, improving safety and convenience.

Customization: The demand for personalized boats, especially in the luxury segment, is increasing. Consumers are looking for boats that reflect their personal style and specific needs. Boat manufacturers are responding by offering more customization options, from interior layouts to exterior design.

Rise in Adventure Tourism: The demand for leisure power boats is also driven by the increasing popularity of adventure tourism. People are seeking unique and immersive experiences, such as private yacht charters or cruising in exotic destinations, creating new opportunities for the leisure power boat market.

Challenges

Despite its growth, the leisure power boat market faces challenges, including high initial costs and maintenance expenses, which can limit access to only the wealthy. Additionally, regulatory challenges around emissions and environmental standards could impact the design and manufacturing processes of leisure boats.

Conclusion

The leisure power boat market is poised for steady growth, driven by evolving consumer preferences, technological innovation, and expanding global wealth. As the industry moves toward more sustainable, connected, and customizable boats, manufacturers must stay ahead of emerging trends to meet evolving consumer demands. With strong demand in North America, Europe, and emerging markets in Asia, the future of the leisure power boat market looks promising, with substantial opportunities for growth and innovation.

[researchreportinsight]

All-terrain Vehicle Market Analysis by Application 2030

In 2022, the global all-terrain vehicle (ATV) market was valued at USD 4.54 billion, with projected growth at a compound annual growth rate (CAGR) of 3.8% from 2023 to 2030. The market's expansion is driven by several factors, including the rising popularity of outdoor sports activities like off-road events, the increasing number of adventure and trail parks, and the growing use of ATVs in agriculture and military sectors. Additionally, the rising disposable income in both developed and emerging economies contributes to greater purchasing power, thereby fueling demand for ATVs over the forecast period.

The agricultural sector has increasingly adopted ATVs for diverse farm tasks, including weed control, fence repairs, plowing, general transportation, and animal handling. Beyond agriculture, ATVs have found applications in sectors such as construction, manufacturing, mining, utilities, and search and rescue operations. Key companies in the ATV market are promoting their products by organizing adventure sports events and off-road racing competitions, often offering sponsorships. These events serve as a platform for gaining new customers and boosting product visibility, thereby driving further market growth.

Demand for gasoline-powered ATVs remains high due to their suitability for sports and military applications, where reliability and power are essential. Heavy-duty ATVs equipped with diesel engines are favored for applications that require powerful towing and material handling capabilities. However, electric ATVs are rapidly gaining popularity, especially in Europe and North America, where they serve as eco-friendly alternatives to gasoline and diesel-powered ATVs. Environmental concerns and the volatility of fuel prices are key factors driving the shift towards electric ATVs. Technological advancements, particularly the introduction of more powerful electric motors, allow electric ATVs to rival and sometimes surpass the performance of gasoline and diesel models, creating a promising new segment within the ATV market.

Gather more insights about the market drivers, restrains and growth of the All-terrain Vehicle Market

Regional Insights:

North America All-terrain Vehicle Market Trends

In 2022, North America led the global ATV market, accounting for a revenue share of 48.5%. The region has seen a substantial increase in ATV adoption, particularly in the U.S. and Canada. Factors contributing to this growth include high disposable incomes, a developed economy, supportive government regulations, and upcoming electric vehicle initiatives. North America also offers a vast array of off-road trails and parks, such as Northwest Off-Highway Vehicle Park, Rocky Ridge Ranch, and River Valley Motocross, which draw numerous tourists and off-road enthusiasts. These sites are popular attractions that support the demand for ATVs and fuel market growth in the region.

Asia Pacific All-terrain Vehicle Market Trends

The Asia Pacific region is anticipated to grow at the fastest CAGR of 5.3% through the forecast period. Several factors contribute to this growth, including rising disposable incomes, the increasing popularity of adventure tourism and outdoor recreational activities, and infrastructure developments that support off-roading. In addition, the growing awareness and accessibility of ATVs have fueled interest in off-roading as a leisure activity. Collectively, these factors provide individuals in the region with a wider range of outdoor recreational options, further stimulating ATV demand and driving market growth in Asia Pacific.

Middle East and Africa (MEA) All-terrain Vehicle Market Trends

The ATV market in the Middle East and Africa (MEA) region is also expected to witness significant growth during the forecast period. This growth is largely driven by increased demand for off-road vehicles in military, defense, and agricultural applications. Enhanced test methods, updated safety standards, and revised emissions regulations for non-road mobile machinery are projected to further support market expansion. The Asia Pacific region also presents substantial growth opportunities for ATV manufacturers, owing to relatively low manufacturing costs, rising military expenditures, and the potential for a large customer base.

Browse through Grand View Research's Category Automotive & Transportation Industry Research Reports.

The global road haulage market size was valued at USD 3,833.97 billion in 2024 and is projected to grow at a CAGR of 5.7% from 2025 to 2030.

The global bicycle accessories market size was estimated at USD 12.94 billion in 2024 and is expected to grow at a CAGR of 8.2% from 2025 to 2030.

Key Companies & Market Share Insights:

The global ATV market is highly competitive, with major players using various strategies to expand their market reach. Companies focus on launching innovative products, forming partnerships, and acquiring other businesses to strengthen their presence and increase global reach. For instance, in May 2023, Polaris Inc. introduced the 2024 XPEDITION XP and ADV models, pioneering a new category called "Adventure side-by-sides." These models merge the rugged off-road performance of traditional side-by-sides with the convenience and storage capacity often found in premium overlanding vehicles. By combining rugged off-road capabilities with enhanced comfort and storage, Polaris Inc. aims to redefine the adventure vehicle market, catering to off-road enthusiasts looking for a versatile and high-performance option.

In summary, the ATV market is expanding due to rising outdoor activity trends, growing application diversity, and increasing disposable income across regions. North America holds a strong position, with the Asia Pacific poised for rapid growth due to the expanding middle class and interest in outdoor recreation. Key players continue to innovate and differentiate through new product launches and collaborations, enhancing their offerings to meet the evolving preferences of ATV consumers worldwide.

Key All-terrain Vehicle Companies:

Polaris Inc.

American Honda Motor Co., Inc.

BRP

Yamaha Motor Corporation, USA.

ArcticInsider.com

CFMOTO

Kawasaki Motors Corp., U.S.A.

KYMCO

LINHAI POWERSPORTS USA CORPORATION

Suzuki Motor of America, Inc.

Order a free sample PDF of the All-terrain Vehicle Market Intelligence Study, published by Grand View Research.

[industrynewsupdates]

Electric Bus Market Segmentation: A Comprehensive Look at Regional Trends

The global electric bus market was valued at USD 49.81 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 12.1% from 2024 to 2030. This growth is primarily driven by the increasing adoption of electric buses, spurred by rising environmental concerns and government support. Electric buses offer significant advantages over traditional gasoline and diesel-powered buses, contributing to their rising popularity across various regions.

One of the primary factors fueling the growth of the electric bus market is their zero tailpipe emissions. Unlike buses with traditional internal combustion engines, electric buses do not emit harmful pollutants such as nitrogen oxides (NOx) or particulate matter, which helps reduce air pollution and greenhouse gas emissions. As global awareness about climate change and environmental sustainability rises, governments and cities are increasingly turning to electric buses as a cleaner, more eco-friendly alternative to conventional buses.

In addition to their environmental benefits, electric buses also offer a quieter ride, which significantly reduces noise pollution. This quiet operation enhances both driver awareness and passenger comfort, making electric buses a preferred choice in urban environments where reducing noise levels is a growing priority. As cities continue to grapple with air and noise pollution, electric buses provide a compelling solution to improve urban quality of life.

Thus, the combination of these environmental and operational benefits is expected to significantly boost the adoption of electric buses over the forecast period, contributing to the market's growth from 2024 to 2030.

Gather more insights about the market drivers, restrains and growth of the Electric Bus Market

Regional Insights

The electric bus market is expected to experience substantial growth across different regions from 2024 to 2030, driven by increasing demand for cleaner, more sustainable transportation solutions. Key regions leading the way in electric bus adoption and infrastructure development include North America, Asia Pacific, Europe, and the Middle East & Africa (MEA).

North America Electric Bus Market Trends

In North America, the electric bus market is poised for significant growth, with both the U.S. and Canada actively working to expand their charging infrastructure and promote electric vehicle adoption. Government efforts to reduce carbon emissions and invest in sustainable transportation solutions are key factors supporting this growth.

• U.S. Electric Bus Market Trends: The electric bus market in the U.S. is expected to grow at a strong CAGR of 17.5% from 2024 to 2030. A major driver of this growth is the increasing adoption of electric school buses, spurred by initiatives like the U.S. Environmental Protection Agency’s (EPA) Clean School Bus Rebate Program. This program provides funding to help replace older, fuel-based school buses with cleaner, electric alternatives. As more school districts and local governments take advantage of these rebates, the adoption of electric buses is set to rise sharply across the country.

• Canada Electric Bus Market Trends: Canada is expected to witness the fastest growth in the electric bus market in North America from 2024 to 2030. The country is undergoing a zero-emission revolution in its transportation sector, with electric buses playing a pivotal role in this shift. Canada's government policies are focused on reducing greenhouse gas emissions, and electric buses are increasingly seen as a key solution to achieving these goals. This shift to cleaner, greener public transportation is expected to drive the market’s growth during the forecast period.

Asia Pacific Electric Bus Market Trends

The Asia Pacific region dominated the global electric bus market in 2023, accounting for 91.44% of the total revenue. This dominance is attributed to the region's large number of developing economies, stringent government mandates, and increasing focus on environmental sustainability. The growing demand for eco-friendly transport, along with expanding charging infrastructure, is fueling the electric bus market in this region.

• China Electric Bus Market Trends: China remains the global leader in electric vehicle and electric bus production, with steady growth expected at a CAGR of 11.5% from 2024 to 2030. China has been a pioneer in the electrification of both private and mass passenger transportation, and its strong presence of electric bus manufacturers along with stringent government regulations aimed at reducing carbon emissions are key drivers of market growth. The country’s extensive investments in charging infrastructure and continued support for electric vehicle production ensure that the electric bus market will continue to expand.

• India Electric Bus Market Trends: India is expected to see the highest CAGR in the electric bus market in Asia Pacific from 2024 to 2030. The Indian government introduced the PM eBus Sewa Scheme in August 2023, allocating USD 2.4 billion to deploy 10,000 electric buses across approximately 169 cities. These efforts are part of India’s broader goal to reduce urban pollution and tackle climate change, positioning the country as a growing player in the electric bus market.

• Japan Electric Bus Market Trends: The electric bus market in Japan is expected to grow at a considerable CAGR from 2024 to 2030. Japan, with its robust automotive manufacturing sector, has been making significant strides in promoting sustainable transportation. The country’s focus on reducing greenhouse gas emissions and adopting clean technologies has led to increased interest in electric buses, contributing to the market's growth.

Europe Electric Bus Market Trends

The electric bus market in Europe is expected to grow at a solid CAGR of 14.3% from 2024 to 2030, driven by strong government policies and a commitment to reducing vehicle emissions. Several European countries have already implemented or are in the process of deploying green transportation technologies, making Europe a key player in the global electric bus market.

• U.K. Electric Bus Market Trends: The United Kingdom is expected to experience the highest growth in the electric bus market in Europe, with an anticipated CAGR from 2024 to 2030. Government investments and initiatives are propelling this growth, with the UK government committing GBP 143 million (USD 180.5 million) in March 2024 to deploy nearly 1,000 new zero-emission buses in England. These efforts to expand the electric bus fleet are part of the UK’s broader push to reduce emissions and make public transport more sustainable.

• Germany Electric Bus Market Trends: Germany is another key market for electric buses in Europe. With a growing focus on technological advancements, evolving consumer preferences, and supportive regulatory frameworks, the German electric bus market is expected to grow at a notable CAGR from 2024 to 2030. The country’s well-established automotive sector and commitment to clean transportation solutions will continue to drive the adoption of electric buses.

Middle East & Africa (MEA) Electric Bus Market Trends

The MEA region is expected to see significant growth in the electric bus market, with a CAGR of 13.3% from 2024 to 2030. Rapid urbanization, population growth, and increasing demand for sustainable public transportation solutions are fueling the demand for electric buses in the region. As cities in the MEA region grow and face increasing air pollution, electric buses offer a cleaner, more efficient alternative to traditional diesel-powered buses.

• Saudi Arabia Electric Bus Market Trends: The Kingdom of Saudi Arabia (KSA) is expected to witness moderate growth in its electric bus market from 2024 to 2030. Saudi Arabia has expanded its adoption of electric vehicles to include electric buses as part of its broader efforts to diversify its economy and promote sustainability. The country is investing in cleaner transportation solutions to reduce dependence on fossil fuels and to help combat climate change, driving the growth of the electric bus market.

Browse through Grand View Research's Automotive & Transportation Industry Research Reports.

• The global electric vehicle market size was estimated at USD 1,070.77 billion in 2023 and is anticipated to grow at a CAGR of 33.6% from 2024 to 2030. 

• The global cobalt market size was estimated at USD 15.97 billion in 2022 and is estimated to grow at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030.

Key Electric Bus Company Insights

Some of the players operating in the market include BYD Company Limited, AB Volvo, Nissan Motor Corporation, Daimler Truck AG, Hyundai Motor Company, and TATA Motors Limited.

• AB Volvo is a manufacturer of trucks, buses, construction equipment, and marine and industrial engines. The company also offers comprehensive financing and service solutions, catering to the diverse needs of its customers worldwide.

• TATA Motors Limited, an automobile manufacturer, provides an extensive portfolio of integrated, smart, and e-mobility solutions, including utility vehicles, cars, buses, and trucks. The company operates through five business segments: Commercial Vehicles, Passenger Vehicles, Electric Vehicles, Jaguar Land Rover, and Tata Motors Finance.

Proterra, MAN, Ashok Leyland Limited, Zhengzhou Yutong Bus Co., Ltd., and others are some of the emerging companies in the electric bus market.

• Proterra is a prominent company in the development and production of heavy-duty, zero-emission electric transit vehicles, providing environmentally friendly and quiet transportation solutions to local communities across North America.

• Zhengzhou Yutong Bus Co., Ltd. is a manufacturer of commercial vehicles, particularly electric buses. The company provides city buses, long-distance coaches, commuters, school buses, tourist coaches, and special mobility vehicles.

Key Electric Bus Companies:

The following are the leading companies in the electric bus market. These companies collectively hold the largest market share and dictate industry trends.

• BYD Company Limited

• AB Volvo

• Proterra

• MAN

• Nissan Motor Corporation

• Ashok Leyland Limited

• Daimler Truck AG

• Zhengzhou Yutong Bus Co., Ltd.

• TATA Motors Limited

• Hyundai Motor Company

Order a free sample PDF of the Electric Bus Market Intelligence Study, published by Grand View Research.

[smartgen]

SmartGen | SmartGen Attended the AMIM-CCEC Diesel Electric Summit 2024

A touch of blue stirs in the heart, as everyone harbors a dream of the sea: it is freedom, a faraway self-exile, the spirit of adventure and exploration of medieval seafarers, a fusion of passion and dreams.  In that fleeting moment before setting sail: be it aboard a cruise ship where sea and sky meet, or on a fishing boat with flickering lights.  There is both liberation and guardianship at sea: from the sailors on cargo ships sending messages of homesickness, to the engineers maintaining equipment on drilling platforms or in ship cabins. 

ince the start of the 21st century, advancements in shipbuilding and navigation technologies have driven cultural exchanges, technological innovations, and diversity. Each step forward in ship technology opens the door to a new era. As a leader in domestic intelligent control systems, SmartGen has made efforts to bring its top-quality marine control products to the overseas market. Recently, we proudly attended the AMIM-CCEC Diesel Electric Summit 2024. The event brought together top experts in global shipping and prominent figures from local marine associations, including representatives from Chongqing Cummins Engine Company (CCEC) and Bureau Veritas (BV). The discussions and exchanges on market prospects, major trends, and carbon reduction were proactive, in-depth and influential.

The summit emphasized that technological innovation continues to lead the shipping industry forward, with ship propulsion shifting from diesel to hybrid and fully electric systems, signaling the technological revolution on the horizon. How do we make a green and clean energy transition? Our marine product line ranges from the well-developed HMC9000A control system, HPM6 parallel controller to the hybrid system solutions. SmartGen has always been focused on delivering cleaner, more efficient energy control solutions.

SmartGen Hybrid Energy Control System HMU8N-EMS

HMU8N-EMS Hybrid Energy Control System is used for hybrid energy system consists of solar energy, wind energy, energy storage battery, hydrogen fuel cell, mains supply and diesel genset. It can read and display the data and status of various energies, control the power distribution, customize the control policy and support multiple control modes. The communication protocol is customized and the touch screen display LCD is configurable by PC, the operation policy or control logic can be written by using the built-in PLC. It is suitable for hybrid energy systems with flexible configuration and easy operation.

SmartGen Micro-Grid Controller HEMS200

HEMS200 Micro-Grid Controller is developed based on Linux operation system that can make the power system work in intelligent and high efficiency way and expand intelligent modules to realize more functions. The product can provide more powerful, user-friendly and convenient interface, support the management and real-time communication of PCS, rectifier, solar module, wind power module, inverter module, DC/DC module, diesel genset, lead-acid/lithium-ion battery, liquid cooling/air cooling, intelligent breaker, ATS, AC energy meter, DC energy meter, collect important data of all communication substations, then control the whole system to operate orderly and reliably through the data acquisition, processing, analysis and logical operation of internal program.

This summit gave us a wealth of insights and connections with experts in the field. We extend special thanks to our partners Cummins and AMIM Chairman Mr. Adren Siow for their high praise. SmartGen will keep pushing forward in marine power control, joining hands with partners to drive innovation in marine power and control technology, and building a clean, efficient, and sustainable energy system.

www.smartgen.cn

[marketanalysisdata]

All-terrain Vehicle Market Strategies With Forecast Till 2030

The global all-terrain vehicle (ATV) market was valued at approximately USD 4.54 billion in 2022 and is projected to experience a compound annual growth rate (CAGR) of 3.8% from 2023 to 2030. This growth is primarily driven by several factors, including the increasing popularity of outdoor sports, such as off-road racing events, a rising number of adventure and trail parks, and a growing demand for ATVs in agricultural and military applications. Additionally, the upward trend in disposable income and purchasing power among individuals in both developed and developing economies is expected to further fuel the demand for all-terrain vehicles throughout the forecast period.

ATVs are renowned for their agility and capability to navigate off-road and rugged terrains. Their design provides superior protection from challenging operational environments when compared to traditional vehicles. These vehicles are utilized across a variety of sectors, including forestry, sports, military, agriculture, and defense. In recent years, ATVs have gained traction due to their ease of operation in remote locations and their convenience for transporting supplies and equipment. While primarily used in off-road conditions, many regions have recently permitted ATVs to be driven on public roads as well.

Gather more insights about the market drivers, restrains and growth of the All-terrain Vehicle Market

In the agricultural sector, the demand for ATVs has surged for various tasks such as weed control, fence repairs, field plowing, general transportation, and livestock management. They are also employed in sectors like manufacturing, construction, utilities, mining, and search and rescue operations. To attract new customers and enhance product visibility, several key companies are organizing adventure sports and off-road racing events and providing sponsorships.

The demand for gasoline-powered ATVs has notably increased due to their extensive applications in sports and military settings. Heavy-duty ATVs typically feature diesel engines suited for material handling and robust towing functions. Electric ATVs are gaining traction, particularly in Europe and North America, as alternatives to gasoline and diesel models. The fluctuating prices and environmental concerns associated with gasoline and diesel are expected to bolster the demand for electric vehicles worldwide. Furthermore, advancements in electric motor technology allow electric ATVs to deliver superior performance compared to their gasoline and diesel counterparts.

Engine Type Segmentation Insights:

In 2022, the 400 - 800cc engine segment captured the largest revenue share at 48.2%. This growth can be attributed to the rising popularity of these vehicles for utility purposes. For instance, many ATVs are designed with significant storage capacity, making them ideal for transporting supplies and equipment. Government entities are increasingly adopting these vehicles for search and rescue missions and for monitoring wildlife and forested areas. Major market players are introducing 400cc-800cc ATVs to appeal to a wider audience and explore new applications.

The segment for engines above 800cc is anticipated to grow at the fastest CAGR of 5.7% during the forecast period. The expansion of off-road events and activities is expected to drive the demand for ATVs with engine capacities exceeding 800cc. These events necessitate vehicles that offer advanced engine performance to provide enhanced torque, allowing participants to gain a competitive edge. The introduction of improved ATVs will facilitate competitive desert racing and rough-terrain events, thereby increasing the demand for ATVs with engine capacities of 800cc and higher.

Order a free sample PDF of the All-terrain Vehicle Market Intelligence Study, published by Grand View Research.

[latestmarketresearchnews]

All-terrain Vehicle Industry 2030 Size, Share, Business Growth, Demand and Applications

In 2022, the global all-terrain vehicle (ATV) market was valued at USD 4.54 billion, with projected growth at a compound annual growth rate (CAGR) of 3.8% from 2023 to 2030. The market's expansion is driven by several factors, including the rising popularity of outdoor sports activities like off-road events, the increasing number of adventure and trail parks, and the growing use of ATVs in agriculture and military sectors. Additionally, the rising disposable income in both developed and emerging economies contributes to greater purchasing power, thereby fueling demand for ATVs over the forecast period.

The agricultural sector has increasingly adopted ATVs for diverse farm tasks, including weed control, fence repairs, plowing, general transportation, and animal handling. Beyond agriculture, ATVs have found applications in sectors such as construction, manufacturing, mining, utilities, and search and rescue operations. Key companies in the ATV market are promoting their products by organizing adventure sports events and off-road racing competitions, often offering sponsorships. These events serve as a platform for gaining new customers and boosting product visibility, thereby driving further market growth.

Demand for gasoline-powered ATVs remains high due to their suitability for sports and military applications, where reliability and power are essential. Heavy-duty ATVs equipped with diesel engines are favored for applications that require powerful towing and material handling capabilities. However, electric ATVs are rapidly gaining popularity, especially in Europe and North America, where they serve as eco-friendly alternatives to gasoline and diesel-powered ATVs. Environmental concerns and the volatility of fuel prices are key factors driving the shift towards electric ATVs. Technological advancements, particularly the introduction of more powerful electric motors, allow electric ATVs to rival and sometimes surpass the performance of gasoline and diesel models, creating a promising new segment within the ATV market.

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Regional Insights:

North America All-terrain Vehicle Market Trends

In 2022, North America led the global ATV market, accounting for a revenue share of 48.5%. The region has seen a substantial increase in ATV adoption, particularly in the U.S. and Canada. Factors contributing to this growth include high disposable incomes, a developed economy, supportive government regulations, and upcoming electric vehicle initiatives. North America also offers a vast array of off-road trails and parks, such as Northwest Off-Highway Vehicle Park, Rocky Ridge Ranch, and River Valley Motocross, which draw numerous tourists and off-road enthusiasts. These sites are popular attractions that support the demand for ATVs and fuel market growth in the region.

Asia Pacific All-terrain Vehicle Market Trends

The Asia Pacific region is anticipated to grow at the fastest CAGR of 5.3% through the forecast period. Several factors contribute to this growth, including rising disposable incomes, the increasing popularity of adventure tourism and outdoor recreational activities, and infrastructure developments that support off-roading. In addition, the growing awareness and accessibility of ATVs have fueled interest in off-roading as a leisure activity. Collectively, these factors provide individuals in the region with a wider range of outdoor recreational options, further stimulating ATV demand and driving market growth in Asia Pacific.

Middle East and Africa (MEA) All-terrain Vehicle Market Trends

The ATV market in the Middle East and Africa (MEA) region is also expected to witness significant growth during the forecast period. This growth is largely driven by increased demand for off-road vehicles in military, defense, and agricultural applications. Enhanced test methods, updated safety standards, and revised emissions regulations for non-road mobile machinery are projected to further support market expansion. The Asia Pacific region also presents substantial growth opportunities for ATV manufacturers, owing to relatively low manufacturing costs, rising military expenditures, and the potential for a large customer base.

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Key Companies & Market Share Insights:

The global ATV market is highly competitive, with major players using various strategies to expand their market reach. Companies focus on launching innovative products, forming partnerships, and acquiring other businesses to strengthen their presence and increase global reach. For instance, in May 2023, Polaris Inc. introduced the 2024 XPEDITION XP and ADV models, pioneering a new category called "Adventure side-by-sides." These models merge the rugged off-road performance of traditional side-by-sides with the convenience and storage capacity often found in premium overlanding vehicles. By combining rugged off-road capabilities with enhanced comfort and storage, Polaris Inc. aims to redefine the adventure vehicle market, catering to off-road enthusiasts looking for a versatile and high-performance option.

In summary, the ATV market is expanding due to rising outdoor activity trends, growing application diversity, and increasing disposable income across regions. North America holds a strong position, with the Asia Pacific poised for rapid growth due to the expanding middle class and interest in outdoor recreation. Key players continue to innovate and differentiate through new product launches and collaborations, enhancing their offerings to meet the evolving preferences of ATV consumers worldwide.

Key All-terrain Vehicle Companies:

Polaris Inc.

American Honda Motor Co., Inc.

BRP

Yamaha Motor Corporation, USA.

ArcticInsider.com

CFMOTO

Kawasaki Motors Corp., U.S.A.

KYMCO

LINHAI POWERSPORTS USA CORPORATION

Suzuki Motor of America, Inc.

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