Latest News- Dual Fuel Engine Market: Marine industry is expected to lead the End-user segment during 2024-2028

The Dual Fuel Engine Market is being driven by Increase in adoption of cleaner technologies

The Dual Fuel Engine Market is expected to grow at a CAGR of 14.51% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3.09 billion. Argonne National Laboratory, under the auspices of the US Department of Energy, is collaborating with automobile manufacturers through a cooperative research and development agreement. The objective of this partnership is to address complex fuel mixing challenges in the development of dual fuel engines. These engines offer the advantage of operating on both traditional gasoline or diesel and natural gas simultaneously. This innovative technology, which leverages the optimal characteristics of both fuels, is expected to significantly reduce oil consumption. With the surge in natural gas supplies, particularly in the US, this technology holds immense potential in maximizing fuel efficiency and minimizing reliance on traditional fossil fuels. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Marine industry
  • Power generation industry
• Type
  • Two-stroke
  • Four-stroke
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in adoption of cleaner technologies
• Increase in demand for dual-fuel engines in generation of electricity
• Gradual conversion of conventional engines to dual-fuel engines

However, the market also witnesses some limitations, which are as follows:

• High initial cost of installing dual-fuel engines
• Rising concerns in choosing lubricants for dual-fuel engines
• Poor low-load performance of dual-fuel engine technologies

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Market Scope in Dual Fuel Engine Market Research Report

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Research Analysis Overview

The Dual Fuel Engine Market encompasses components such as diesel fuel injectors and gasoline fuel injectors, engine mapping, fuel line routing, and engine calibration. Additionally, it involves electronic throttle control, spark plug design, exhaust system design, engine cooling system, turbocharger sizing, and fuel pump design. Other key elements include fuel rail pressure, oxygen sensor data, mass airflow sensor, throttle position sensor, camshaft position sensor, knock sensor, temperature sensors, pressure sensors, flow sensors, engine diagnostics, fault detection codes, engine maintenance, exhaust gas analysis, fuel quality testing, and engine oil analysis.

Market Research Overview

The dual fuel engine market is a significant segment of the global industrial machinery, supplies, and component market, encompassing companies that manufacture fuel injection systems, engine combustion efficiency technologies, emission control systems, and catalytic converter designs. According to Technavio, the global industrial machinery, supplies, and component market, which includes manufacturers of machinery and components utilized in industrial settings, is projected to expand due to increasing industrial output in process and discrete industries. This growth is attributed to the rising demand for energy, chemicals, petrochemicals, pulp and paper products, and processed food and beverages in developing economies. Key drivers include capacity additions in these industries, leading to increased demand for efficient and eco-friendly energy solutions, such as dual fuel engines.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/