Demand for diesel engines in Western Europe is projected to increase 3.3 percent per annum to $57.9 billion in 2020, an improvement over the 2010-2015 pace but slower than the expected global rate. Sales of diesel engines are expected to rise at a healthy pace through 2020 due to improving regional market conditions. As agriculture, construction, forestry, and mining, as well as the overall economy, grow in Western Europe through 2020, demand for automobiles, buses, trucks, stationary equipment, and a wide range of off-highway mobile equipment is expected to rise considerably. These and other trends are presented in Global Diesel Engine Market, 5th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
According to analyst Gleb Mytko, “Manufacturers operating in the region will boost equipment output, causing related diesel engine demand to rise. The region’s equipment producers will also take advantage of additional export sales opportunities around the world, leading to a further increase in the region’s diesel engine needs.” Furthermore, manufacturers of durable goods in Western Europe are expected to increase their use of newly developed, state-of-the-art diesel engines between 2015 and 2020, adding to value gains.
Sales of diesel engines and parts for off-highway mobile equipment are projected to climb 7.9 percent per year through 2020, well above the overall average. As demand for a wide range of locally made off-highway mobile equipment increases at home and abroad, both output and associated product sales are expected to advance at a strong pace.
Global Diesel Engine Market, 5th Edition (published 01/2017, 344 pages) is available for $6300 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].
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