Dual Fuel Engine Market Analysis: Stringent Regulations on NOx Emissions to Drive Market Growth

Trends, Drivers, and Vendor Forecasts for 2021-2025

The dual fuel engine market is set to post an incremental growth of 2.85 billion units during 2020-2025. The market will be progressing at a CAGR of 8.95% during the forecast period. Some of the major market participants are Anglo Belgian Corp., Caterpillar Inc., Cummins Inc., Heinzmann GmbH and Co. KG, Kubota Corp., MAN Energy Solutions SE, Wartsila Corp., Westport Fuel Systems Inc., Woodward Inc., and Yanmar Holdings Co. Ltd.

Technavio's report on "Dual Fuel Engine Market by End-user and Geography - Forecast and Analysis 2021-2025" projects that the stringent regulations on NOx emissions will drive market growth during the forecast period.  The analysis report will provide a detailed understanding of the key players, and factors impacting the market along with the market segmentation in various geographic regions. Unlock the Sample Report 

Dual Fuel Engine Market: Segmentation Analysis

The Dual fuel engine market is segmented by End-user (Marine industry and Power generation industry) and Geography (APAC, Europe, North America, MEA, and South America).

The dual fuel engine market share growth in the marine industry segment will be significant during the forecast period. The growth of the modern maritime industry is driven by the increasing globalization of world trade. APAC led the market with 43% of the market growth. The high demand from the marine and power sectors will facilitate the dual fuel engine market growth in APAC over the forecast period.

Dual Fuel Engine Market: Top Drivers to Boost Demand

The Stringent Regulations on NOx emissions are one of the primary factors driving the growth of the dual fuel engine market. With the rise in awareness about emission regulations, diesel engine manufacturers must ensure that their products should meet stringent emission norms along with performance levels. The challenge lies in the reduction of NOx at the source to avoid cost-intensive measures.

However, the efficiency problems will be a major challenge for the dual fuel engine market during the forecast period.

The report provides a detailed study of all the factors that are likely to boost the market. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals. For additional insights on this market: Download FREE Sample Report. 

Dual Fuel Engine Market: Top Market Players

The dual fuel engine market is concentrated and the degree of concentration will accelerate during the forecast period due to the presence of several market players. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Anglo Belgian Corp., Caterpillar Inc., Cummins Inc., Heinzmann GmbH and Co. KG, Kubota Corp., MAN Energy Solutions SE, Wartsila Corp., Westport Fuel Systems Inc., Woodward Inc., and Yanmar Holdings Co. Ltd. are some of the major market participants of dual fuel engine market.

• Anglo Belgian Corp.- The company offers dual fuel engine solutions for 12-cylinder V engines with four-stroke and direct fuel injection, under the Genset name 12DZD.
• Caterpillar Inc.- The company offers dual fuel engine solutions for marine engines and generator sets for customers in the cruise, ferry, cargo, inland waterway, offshore, tug and salvage, fishing, governmental, and dredge segments, under the brand name MAK.
• Cummins Inc.- The company offers dual fuel engine solutions for drilling applications with power ranging from 1400 to 2200 hp, under the QSK50 series.

The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market is accelerating at a CAGR of 8.95%.
2. What is the incremental growth of the market?
   The market is expected to grow up to 2.85 billion units from 2020-2025.
3. What is a key factor driving this market?
   Stringent Regulations on NOx emissions will drive market growth over the forecast period.
4. What are the key regions covered in this market research report?
   APAC, Europe, North America, MEA, and South America are the key regions.
5. Which is the leading geographic region for this market?
   43% growth will originate from APAC.
6. Who are the leading market vendors?
   The leading vendors in this market are Anglo Belgian Corp., Caterpillar Inc., Cummins Inc., Heinzmann GmbH and Co. KG, Kubota Corp., MAN Energy Solutions SE, Wartsila Corp., Westport Fuel Systems Inc., Woodward Inc., and Yanmar Holdings Co. Ltd.
7. What are the market segments covered in this report?
   The market is segmented by End-user (Marine industry and Power generation industry) and Geography (APAC, Europe, North America, MEA, and South America).