The Diesel Engines Market size was Valued at USD 63.8 billion in 2022 and is expected to reach USD 90.05 billion by 2030 at a CAGR of 4.4% during the forecast period of 2023-2030.
In the medium to long term, an increase in production and manufacturing demand will create a requirement for a continuous and stable power supply. However, a lack of continuous power supply would cause industrial downtime and thus significant losses. The power generation, oil and gas, and mining industries are likely to fuel the growth of the diesel engine market. According to the UN, 50% of the global population lives in cities as of 2022, with that figure expected to rise to 68% by 2050. North America, South America, and Europe remain the most urbanized regions, whereas Africa and Asia-Pacific are predicted to see fast urbanization during the forecast period. The establishment of basic support infrastructure and power T&D networks is required for urbanization. The growing demand for new urban infrastructure has boosted activity in the building, chemical and petrochemical, food and beverage, and utilities industries. One of the important growth factors for industries is power reliability, which may be achieved by using diesel engines as a primary or backup source of power generation.
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MARKET DYNAMICS
DRIVERS
Industrial Development & Efficiency and Torque
Global Transportation and Trade
Emerging Markets & Power Generation
RESTRAIN
High fuel expenditures, as well as operating and maintenance costs
Diesel fuel is more expensive than alternatives such as gasoline and other fuels, particularly for longer-duration operations. Regular servicing and refilling of the lubrication, cooling, and fueling systems, starting batteries, and fuel filters is required for preventive maintenance. These expenses are higher than the operating costs of renewable technologies and add up to the total operating and maintenance costs of diesel engines. Extreme temperatures, weather, and saltwater (in marine End-Users) can also increase the frequency of maintenance procedures. On the other hand, new emerging technologies, such as battery energy systems for backup power solutions, have no fuel expenses and are simple to maintain and operate. With these developing technologies posing increasing competition, high gasoline prices and diesel engine operating and maintenance costs might be significant market restrictions.
OPPORTUNITY
Technologies for Emissions Reduction
Electrification and hybridization
Enhancements to Remote Power Generation Efficiency
CHALLENGES
Changing consumer preferences and regulatory pressure from rapid technological change are required for infrastructure.
Increasingly strict emissions rules can make meeting the needed criteria difficult for diesel engine manufacturers. As public awareness of environmental issues grows, consumer tastes may change toward cleaner options, reducing demand for diesel-powered automobiles. The use of diesel engines, particularly in distant areas, may be limited by infrastructure constraints in terms of fuel availability and repair. Because of the rapid speed of technological improvements in alternative propulsion systems, diesel engine manufacturers may find it difficult to remain competitive.
IMPACT OF RUSSIA-UKRAINE WAR
There may be an initial price increase while markets adjust to the adjustments. However, they claim that if the cap works as intended and Russian diesel continues to flow to other nations, the ban should not result in a price increase. According to the European Union's executive commission's weekly oil market report, diesel gasoline at the pump has been flat since the beginning of December, costing 1.80 euros per liter ($7.37 per gallon) as of Jan. 30. In Germany, the EU's largest economy, pump prices declined 2.6 cents to 1.83 euros per liter ($7.48 per gallon) on January 31.
The embargo allows for a 55-day grace period for diesel loaded on tankers before Sunday, with the goal of preventing market disruption. Importers have had time to adjust, according to European Union officials, since the embargo was announced in June.
GSMSG first assembled a 10-person combat surgery team, which reached Ukraine nine days after Russia invaded. Their mission was to train any interested and capable Ukrainian citizen in combat casualty care, to provide combat trauma care training and surgical support to the civilian Ukrainian medical system, and to provide combat care training to Ukrainian military personnel and military physicians. GSMSG rotated additional teams of surgeons with experience in trauma, surgical critical care, burn, plastics, orthopaedics, vascular, and neurosurgery. GSMSG rotated additional teams of surgeons with experience in trauma, surgical critical care, burn, plastics, orthopaedics, vascular, and neurosurgery. GSMSG also created a collaboration with the Ukrainian Armed Forces, Ukrainian Special Operations Forces (UKRSOF), and Ukrainian Special Surgical Groups, with the support of the Ukrainian Ministry of Defense and Ministry of Health, to offer damage control surgery as close to the scene as possible. as 0.5 kilometers from active action with Russian forces. Since their arrival in Ukraine, GSMSG team members have trained over 20,000 Ukrainian civilians and military personnel. They have also provided surgical support to over 300 patients, some of whom are within 10 kilometers of the battle lines.
IMPACT OF ONGOING RECESSION
After Russia's invasion of Ukraine interrupted trade flows, diesel prices have been falling on concerns that many of the world's largest economies face difficult times ahead. According to economists, there is a 66% risk of a US recession and a 49% chance of a European recession within the next year. The risk is lesser in China, but the country's recovery from its formerly stringent COVID-19 limitations will still necessitate a significant increase in consumer confidence, and quickly.Much of the decline in diesel demand can be attributed to trucking, which consumes around 60% of fuel in China and more than 70% in the United States. According to data compiled by China's Ministry of Transport, the number of trucks on Chinese highways decreased by 10% in the week ending April 9. In early April, commercial fuel stockpiles countrywide, excluding state refineries, reached an eight-month high, according to OilChem statistics, April.
By Speed
Low (Up to 720 rpm)
Medium (720-1200 rpm)
High (1200-1800 rpm, Above 1800 rpm)
By Power rating
Below 0.5 MW
0.5-1.0 MW
1.1-2.0 MW
2.1-5.0MW
Above 5.0 MW
By End user
Power Generation
Marines
Locomotives
Oil & Gas
Mining
Construction
Others
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REGIONAL COVERAGE
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
REGIONAL ANALYSES
Between 2023 and 2030, Asia Pacific is predicted to be the fastest-expanding region in the diesel engine market, followed by North America and Europe. The increasing number of boats, crafts, and vessels in the Asia-Pacific region will contribute to the growth of propulsion systems and small marine engines. The ongoing territorial conflicts among countries such as China, the Philippines, North Korea, Japan, India, Vietnam, Pakistan, and Afghanistan are also expected to drive the demand for small marine engines in the defense sector, thereby driving the diesel engine market in the region for marine End-Users. As a result, these factors are likely to fuel the expansion of the Asia-Pacific diesel engine market.
The major key players are AGCO Corporation, Robert Bosch GmbH, Deere & Company, Continental AG, Delphi Automotive System Private Limited, Mitsubishi Heavy Industries, Ltd, Ford Motor Company, General Motors Company, MAN SE, Wärtsilä Oyj Abp, Cummins, Inc, Rolls-Royce Motor Cars Limited, Caterpillar and Others Players
AGCO Corporation-Company Financial Analysis
RECENT DEVELOPMENT
Caterpillar: In March 2023, Caterpillar has announced the creation of the CAT C13D, a new 13-liter diesel engine platform designed to provide best-in-class power density, torque, and fuel efficiency for maximizing heavy-duty off-highway performance. The C13D would meet higher-regulated market emissions regulations such as EU Stage V, US EPA Tier 4 Final, China Non-road IV, Korea Stage V, and Japan 2014, with variants available for less-regulated markets.
WinGD and Hyundai Heavy Industrie: In June 2022, WinGD and Hyundai Heavy Industries' Engine Machinery Division (EMD) partnered to create the first WinGD engine capable of running on ammonia, marking an important step forward in shipping's decarbonization efforts.
| Report Attributes | Details |
| Market Size in 2022 | US$ 63.8 Bn |
| Market Size by 2030 | US$ 90.05 Bn |
| CAGR | CAGR of 4.4 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Speed (Low (Up to 720 rpm), Medium (720-1200 rpm), High (1200-1800 rpm, Above 1800 rpm)) • By power rating (Below 0.5 MW, 0.5-1.0 MW, 1.1-2.0 MW, 2.1-5.0MW, Above 5.0 MW) • By end user (Power generation, Marines, Locomotives, Oil & Gas, Mining, Construction, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | AGCO Corporation, Robert Bosch GmbH, Deere & Company, Continental AG, Delphi Automotive System Private Limited, Mitsubishi Heavy Industries, Ltd, Ford Motor Company, General Motors Company, MAN SE, Wärtsilä Oyj Abp, Cummins, Inc, Rolls-Royce Motor Cars Limited, Caterpillar |
| Key Drivers | • Industrial Development & Efficiency and Torque • Global Transportation and Trade • Emerging Markets & Power Generation |
| Market Restraints | • High fuel expenditures, as well as operating and maintenance costs |
Ans: The Diesel Engines Market is growing at a CAGR of 4.4% CAGR from 2023 to 2030.
Ans: The Diesel Engines Market is anticipated to reach USD 57.29 billion By 2030.
Ans: The leading participants in the,AGCO Corporation, Robert Bosch GmbH, Deere & Company, Continental AG, Delphi Automotive System Private Limited, Mitsubishi Heavy Industries, Ltd, Ford Motor Company, General Motors Company.
Ans: The fast expansion of the automotive sector, growing energy consumption in the manufacturing sector, and the rapid acceptance of diesel engines in non-automotive applications are the primary drivers of the market.
Ans: Yes, you may request customization based on your company's needs.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Diesel Engines Market Segmentation, By Speed
8.1 Low (Up to 720 rpm)
8.2 Medium (720-1200 rpm)
8.3 High (1200-1800 rpm, Above 1800 rpm)
9. Diesel Engines Market Segmentation, By power rating
9.1 Below 0.5 MW
9.2 0.5-1.0 MW
9.3 1.1-2.0 MW
9.4 2.1-5.0 MW
9.5 Above 5.0 MW
10. Diesel Engines Market Segmentation, By end user
10.1 Power generation
10.2 Marines
10.3 Locomotives
10.4 Oil & Gas
10.5 Mining
10.6 Construction
10.7 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Diesel Engines Market by Country
11.2.2North America Diesel Engines Market by Speed
11.2.3 North America Diesel Engines Market by Power Rating
11.2.4 North America Diesel Engines Market by End-User
11.2.5 USA
11.2.5.1 USA Diesel Engines Market by Speed
11.2.5.2 USA Diesel Engines Market by Power Rating
11.2.5.3 USA Diesel Engines Market by End-User
11.2.6 Canada
11.2.6.1 Canada Diesel Engines Market by Speed
11.2.6.2 Canada Diesel Engines Market by Power Rating
11.2.6.3 Canada Diesel Engines Market by End-User
11.2.7 Mexico
11.2.7.1 Mexico Diesel Engines Market by Speed
11.2.7.2 Mexico Diesel Engines Market by Power Rating
11.2.7.3 Mexico Diesel Engines Market by End-User
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Diesel Engines Market by Country
11.3.1.2 Eastern Europe Diesel Engines Market by Speed
11.3.1.3 Eastern Europe Diesel Engines Market by Power Rating
11.3.1.4 Eastern Europe Diesel Engines Market by End-User
11.3.1.5 Poland
11.3.1.5.1 Poland Diesel Engines Market by Speed
11.3.1.5.2 Poland Diesel Engines Market by Power Rating
11.3.1.5.3 Poland Diesel Engines Market by End-User
11.3.1.6 Romania
11.3.1.6.1 Romania Diesel Engines Market by Speed
11.3.1.6.2 Romania Diesel Engines Market by Power Rating
11.3.1.6.4 Romania Diesel Engines Market by End-User
11.3.1.7 Turkey
11.3.1.7.1 Turkey Diesel Engines Market by Speed
11.3.1.7.2 Turkey Diesel Engines Market by Power Rating
11.3.1.7.3 Turkey Diesel Engines Market by End-User
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Diesel Engines Market by Speed
11.3.1.8.2 Rest of Eastern Europe Diesel Engines Market by Power Rating
11.3.1.8.3 Rest of Eastern Europe Diesel Engines Market by End-User
11.3.2 Western Europe
11.3.2.1 Western Europe Diesel Engines Market by Speed
11.3.2.2 Western Europe Diesel Engines Market by Power Rating
11.3.2.3 Western Europe Diesel Engines Market by End-User
11.3.2.4 Germany
11.3.2.4.1 Germany Diesel Engines Market by Speed
11.3.2.4.2 Germany Diesel Engines Market by Power Rating
11.3.2.4.3 Germany Diesel Engines Market by End-User
11.3.2.5 France
11.3.2.5.1 France Diesel Engines Market by Speed
11.3.2.5.2 France Diesel Engines Market by Power Rating
11.3.2.5.3 France Diesel Engines Market by End-User
11.3.2.6 UK
11.3.2.6.1 UK Diesel Engines Market by Speed
11.3.2.6.2 UK Diesel Engines Market by Power Rating
11.3.2.6.3 UK Diesel Engines Market by End-User
11.3.2.7 Italy
11.3.2.7.1 Italy Diesel Engines Market by Speed
11.3.2.7.2 Italy Diesel Engines Market by Power Rating
11.3.2.7.3 Italy Diesel Engines Market by End-User
11.3.2.8 Spain
11.3.2.8.1 Spain Diesel Engines Market by Speed
11.3.2.8.2 Spain Diesel Engines Market by Power Rating
11.3.2.8.3 Spain Diesel Engines Market by End-User
11.3.2.9 Netherlands
11.3.2.9.1 Netherlands Diesel Engines Market by Speed
11.3.2.9.2 Netherlands Diesel Engines Market by Power Rating
11.3.2.9.3 Netherlands Diesel Engines Market by End-User
11.3.2.10 Switzerland
11.3.2.10.1 Switzerland Diesel Engines Market by Speed
11.3.2.10.2 Switzerland Diesel Engines Market by Power Rating
11.3.2.10.3 Switzerland Diesel Engines Market by End-User
11.3.2.11.1 Austria
11.3.2.11.2 Austria Diesel Engines Market by Speed
11.3.2.11.3 Austria Diesel Engines Market by Power Rating
11.3.2.11.4 Austria Diesel Engines Market by End-User
11.3.2.12 Rest of Western Europe
11.3.2.12.1 Rest of Western Europe Diesel Engines Market by Speed
11.3.2.12.2 Rest of Western Europe Diesel Engines Market by Power Rating
11.3.2.12.3 Rest of Western Europe Diesel Engines Market by End-User
11.4 Asia-Pacific
11.4.1 Asia-Pacific Diesel Engines Market by country
11.4.2 Asia-Pacific Diesel Engines Market by Speed
11.4.3 Asia-Pacific Diesel Engines Market by Power Rating
11.4.4 Asia-Pacific Diesel Engines Market by End-User
11.4.5 China
11.4.5.1 China Diesel Engines Market by Speed
11.4.5.2 China Diesel Engines Market by Power Rating
11.4.5.3 China Diesel Engines Market End-User
11.4.6 India
11.4.6.1 India Diesel Engines Market by Speed
11.4.6.2 India Diesel Engines Market by Power Rating
11.4.6.3 India Diesel Engines Market by End-User
11.4.7 Japan
11.4.7.1 Japan Diesel Engines Market by Speed
11.4.7.2 Japan Diesel Engines Market by Power Rating
11.4.7.3 Japan Diesel Engines Market by End-User
11.4.8 South Korea
11.4.8.1 South Korea Diesel Engines Market by Speed
11.4.8.2 South Korea Diesel Engines Market by Power Rating
11.4.8.3 South Korea Diesel Engines Market by End-User
11.4.9 Vietnam
11.4.9.1 Vietnam Diesel Engines Market by Speed
11.4.9.2 Vietnam Diesel Engines Market by Power Rating
11.4.9.3 Vietnam Diesel Engines Market by End-User
11.4.10 Singapore
11.4.10.1 Singapore Diesel Engines Market by Speed
11.4.10.2 Singapore Diesel Engines Market by Power Rating
11.4.10.3 Singapore Diesel Engines Market by End-User
11.4.11 Australia
11.4.11.1 Australia Diesel Engines Market by Speed
11.4.11.2 Australia Diesel Engines Market by Power Rating
11.4.11.3 Australia Diesel Engines Market by End-User
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Diesel Engines Market by Speed
11.4.12.2 Rest of Asia-Pacific Diesel Engines Market by Power Rating
11.4.12.3 Rest of Asia-Pacific Diesel Engines Market by End-User
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Diesel Engines Market by country
11.5.1.2 Middle East Diesel Engines Market by Speed
11.5.1.3 Middle East Diesel Engines Market by Power Rating
11.5.1.4 Middle East Diesel Engines Market by End-User
11.5.1.5 UAE
11.5.1.5.1 UAE Diesel Engines Market by Speed
11.5.1.5.2 UAE Diesel Engines Market by Power Rating
11.5.1.5.3 UAE Diesel Engines Market by End-User
11.5.1.6 Egypt
11.5.1.6.1 Egypt Diesel Engines Market by Speed
11.5.1.6.2 Egypt Diesel Engines Market by Power Rating
11.5.1.6.3 Egypt Diesel Engines Market by End-User
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Diesel Engines Market by Speed
11.5.1.7.2 Saudi Arabia Diesel Engines Market by Power Rating
11.5.1.7.3 Saudi Arabia Diesel Engines Market by End-User
11.5.1.8 Qatar
11.5.1.8.1 Qatar Diesel Engines Market by Speed
11.5.1.8.2 Qatar Diesel Engines Market by Power Rating
11.5.1.8.3 Qatar Diesel Engines Market by End-User
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Diesel Engines Market by Speed
11.5.1.9.2 Rest of Middle East Diesel Engines Market by Power Rating
11.5.1.9.3 Rest of Middle East Diesel Engines Market by End-User
11.5.2 Africa
11.5.2.1 Africa Diesel Engines Market by country
11.5.2.2 Africa Diesel Engines Market by Speed
11.5.2.3 Africa Diesel Engines Market by Power Rating
11.5.2.4 Africa Diesel Engines Market by End-User
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Diesel Engines Market by Speed
11.5.2.5.2 Nigeria Diesel Engines Market by Power Rating
11.5.2.5.3 Nigeria Diesel Engines Market by End-User
11.5.2.6 South Africa
11.5.2.6.1 South Africa Diesel Engines Market by Speed
11.5.2.6.2 South Africa Diesel Engines Market by Power Rating
11.5.2.6.3 South Africa Diesel Engines Market by End-User
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Diesel Engines Market by Speed
11.5.2.7.2 Rest of Africa Diesel Engines Market by Power Rating
11.5.2.7.3 Rest of Africa Diesel Engines Market by End-User
11.6 Latin America
11.6.1 Latin America Diesel Engines Market by country
11.6.2 Latin America Diesel Engines Market by Speed
11.6.3 Latin America Diesel Engines Market by Power Rating
11.6.4 Latin America Diesel Engines Market by End-User
11.6.5 Brazil
11.6.5.1 Brazil Diesel Engines Market by Speed
11.6.5.2 Brazil Diesel Engines Market by Power Rating
11.6.5.3 Brazil Diesel Engines Market by End-User
11.6.6 Argentina
11.6.6.1 Argentina Diesel Engines Market by Speed
11.6.6.2 Argentina Diesel Engines Market by Power Rating
11.6.6.3 Argentina Diesel Engines Market by End-User
11.6.7 Colombia
11.6.7.1 Colombia Diesel Engines Market by Speed
11.6.7.2 Colombia Diesel Engines Market by Power Rating
11.6.7.3 Colombia Diesel Engines Market by End-User
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Diesel Engines Market by Speed
11.6.8.2 Rest of Latin America Diesel Engines Market by Power Rating
11.6.8.3 Rest of Latin America Diesel Engines Market by End-User
12 Company profile
12.1 AGCO Corporation
12.1.1 Company Overview
12.1.2 Financials
12.1.3 Speed/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Robert Bosch GmbH
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Speed/Services/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Deere & Company
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Speed/Services/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Continental AG
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Speed/Services/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Delphi Automotive System Private Limited
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Speed/Services/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Mitsubishi Heavy Industries, Ltd
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Speed/Services/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Ford Motor Company
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Speed/Services/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Rolls-Royce Motor Cars Limited
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Speed/Services/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Caterpillar
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Speed/Services/Offerings
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 MAN SE
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Speed/Services/Offerings
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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The Industrial Vacuum Cleaner Market size was estimated at USD 681 million in 2022 and is expected to reach USD 995 million by 2030 at a CAGR of 4.86% during the forecast period of 2023-2030.
The Construction Equipment Rental Market size was estimated at USD 122.3 Billion in 2023 and is expected to reach USD 182 Billion by 2031 at a CAGR of 5.07% during the forecast period of 2024-2031.
The Oilfield Equipment Market Size was esteemed at USD 125.97 billion in 2023 and is supposed to arrive at USD 173.86 billion by 2031 with a growing CAGR of 4.11% over the forecast period 2024-2031.
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