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Dual-Fuel Engines-Global Market Insights and Sales Trends 2024
Synopsis
Dual fuel engines make use of both natural gas and diesel or gasoline simultaneously as a fuel source to operate. Among the two types of fuel, natural gas is used the most (accounting for 90% of the overall fuel mix). Diesel merely serves as a spark plug, which ignites under pressure and, in turn, ignites the compressed gas and air mixture. Retaining the use of diesel, ensures that the fuel, its compression ratio, and associated efficiency remains intact, while the use of natural gas ensures less operating cost as well as low levels of emissions.
The global Dual-Fuel Engines market size is expected to reach US$ 1850 million by 2029, growing at a CAGR of -2.2% from 2023 to 2029. The market is mainly driven by the significant applications of Dual-Fuel Engines in various end use industries. The expanding demands from the Marine and Power Generation, are propelling Dual-Fuel Engines market. Four-Stroke Dual-Fuel Engines, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Two-Stroke Dual-Fuel Engines segment is estimated at % CAGR for the next seven-year period.
Global Dual Fuel Engine key players include WinGD, MAN, etc. Global top two manufacturers hold a share about 90%.
Asia Pacific is the largest market, with a share about 60%, followed by Europe, and North America, both have a share over 30 percent.
In terms of product, Two-Stroke is the largest segment, with a share over 65%. And in terms of application, the largest application is Cargo Ship, followed by Cruise Ship, etc.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Dual-Fuel Engines, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Dual-Fuel Engines market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Dual-Fuel Engines market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Dual-Fuel Engines sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Dual-Fuel Engines covered in this report include Caterpillar, Cummins, Kubota, MAN Diesel & Turbo, Wartsila, ABC Diesel, Heinzmann, Hyundai and Rolls Royce, etc.
The global Dual-Fuel Engines market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Caterpillar
Cummins
Kubota
MAN Diesel & Turbo
Wartsila
ABC Diesel
Heinzmann
Hyundai
Rolls Royce
Westport
Woodward
Yanmar
Global Dual-Fuel Engines market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Dual-Fuel Engines market, Segment by Type:
Four-Stroke Dual-Fuel Engines
Two-Stroke Dual-Fuel Engines
Global Dual-Fuel Engines market, by Application
Marine
Power Generation
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Dual-Fuel Engines manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Dual-Fuel Engines in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Dual fuel engines make use of both natural gas and diesel or gasoline simultaneously as a fuel source to operate. Among the two types of fuel, natural gas is used the most (accounting for 90% of the overall fuel mix). Diesel merely serves as a spark plug, which ignites under pressure and, in turn, ignites the compressed gas and air mixture. Retaining the use of diesel, ensures that the fuel, its compression ratio, and associated efficiency remains intact, while the use of natural gas ensures less operating cost as well as low levels of emissions.
The global Dual-Fuel Engines market size is expected to reach US$ 1850 million by 2029, growing at a CAGR of -2.2% from 2023 to 2029. The market is mainly driven by the significant applications of Dual-Fuel Engines in various end use industries. The expanding demands from the Marine and Power Generation, are propelling Dual-Fuel Engines market. Four-Stroke Dual-Fuel Engines, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Two-Stroke Dual-Fuel Engines segment is estimated at % CAGR for the next seven-year period.
Global Dual Fuel Engine key players include WinGD, MAN, etc. Global top two manufacturers hold a share about 90%.
Asia Pacific is the largest market, with a share about 60%, followed by Europe, and North America, both have a share over 30 percent.
In terms of product, Two-Stroke is the largest segment, with a share over 65%. And in terms of application, the largest application is Cargo Ship, followed by Cruise Ship, etc.
Report Objectives
This report provides market insight on the different segments, by manufacturers, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Dual-Fuel Engines, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Dual-Fuel Engines market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Dual-Fuel Engines market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Dual-Fuel Engines sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Dual-Fuel Engines covered in this report include Caterpillar, Cummins, Kubota, MAN Diesel & Turbo, Wartsila, ABC Diesel, Heinzmann, Hyundai and Rolls Royce, etc.
The global Dual-Fuel Engines market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
Caterpillar
Cummins
Kubota
MAN Diesel & Turbo
Wartsila
ABC Diesel
Heinzmann
Hyundai
Rolls Royce
Westport
Woodward
Yanmar
Global Dual-Fuel Engines market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Dual-Fuel Engines market, Segment by Type:
Four-Stroke Dual-Fuel Engines
Two-Stroke Dual-Fuel Engines
Global Dual-Fuel Engines market, by Application
Marine
Power Generation
Core Chapters
Chapter One: Introduces the study scope of this report, executive summary of market segments by Type, market size segments for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Two: Detailed analysis of Dual-Fuel Engines manufacturers competitive landscape, price, sales, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Three: Sales, revenue of Dual-Fuel Engines in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the future development prospects, and market space in the world.
Chapter Four: Introduces market segments by Application, market size segment for North America, Europe, Asia Pacific, South America, Middle East & Africa.
Chapter Five, Six, Seven, Eight and Nine: North America, Europe, Asia Pacific, South America, Middle East & Africa, sales and revenue by country.
Chapter Ten: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter Eleven: Analysis of industrial chain, key raw materials, manufacturing cost, and market dynamics. Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Analysis of sales channel, distributors and customers.
Chapter Thirteen: Research Findings and Conclusion.
Index1 Dual-Fuel Engines Market Overview
1.1 Dual-Fuel Engines Product Overview
1.2 Dual-Fuel Engines Market Segment by Type
1.2.1 Four-Stroke Dual-Fuel Engines
1.2.2 Two-Stroke Dual-Fuel Engines
1.3 Global Dual-Fuel Engines Market Size by Type
1.3.1 Global Dual-Fuel Engines Market Size Overview by Type (2018-2029)
1.3.2 Global Dual-Fuel Engines Historic Market Size Review by Type (2018-2023)
1.3.3 Global Dual-Fuel Engines Forecasted Market Size by Type (2024-2029)
1.4 Key Regions Market Size Segment by Type
1.4.1 North America Dual-Fuel Engines Sales Breakdown by Type (2018-2023)
1.4.2 Europe Dual-Fuel Engines Sales Breakdown by Type (2018-2023)
1.4.3 Asia-Pacific Dual-Fuel Engines Sales Breakdown by Type (2018-2023)
1.4.4 Latin America Dual-Fuel Engines Sales Breakdown by Type (2018-2023)
1.4.5 Middle East and Africa Dual-Fuel Engines Sales Breakdown by Type (2018-2023)
2 Global Dual-Fuel Engines Market Competition by Company
2.1 Global Top Players by Dual-Fuel Engines Sales (2018-2023)
2.2 Global Top Players by Dual-Fuel Engines Revenue (2018-2023)
2.3 Global Top Players by Dual-Fuel Engines Price (2018-2023)
2.4 Global Top Manufacturers Dual-Fuel Engines Manufacturing Base Distribution, Sales Area, Product Type
2.5 Dual-Fuel Engines Market Competitive Situation and Trends
2.5.1 Dual-Fuel Engines Market Concentration Rate (2018-2023)
2.5.2 Global 5 and 10 Largest Manufacturers by Dual-Fuel Engines Sales and Revenue in 2022
2.6 Global Top Manufacturers by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Dual-Fuel Engines as of 2022)
2.7 Date of Key Manufacturers Enter into Dual-Fuel Engines Market
2.8 Key Manufacturers Dual-Fuel Engines Product Offered
2.9 Mergers & Acquisitions, Expansion
3 Dual-Fuel Engines Status and Outlook by Region
3.1 Global Dual-Fuel Engines Market Size and CAGR by Region: 2018 VS 2022 VS 2029
3.2 Global Dual-Fuel Engines Historic Market Size by Region
3.2.1 Global Dual-Fuel Engines Sales in Volume by Region (2018-2023)
3.2.2 Global Dual-Fuel Engines Sales in Value by Region (2018-2023)
3.2.3 Global Dual-Fuel Engines Sales (Volume & Value) Price and Gross Margin (2018-2023)
3.3 Global Dual-Fuel Engines Forecasted Market Size by Region
3.3.1 Global Dual-Fuel Engines Sales in Volume by Region (2024-2029)
3.3.2 Global Dual-Fuel Engines Sales in Value by Region (2024-2029)
3.3.3 Global Dual-Fuel Engines Sales (Volume & Value), Price and Gross Margin (2024-2029)
4 Global Dual-Fuel Engines by Application
4.1 Dual-Fuel Engines Market Segment by Application
4.1.1 Marine
4.1.2 Power Generation
4.2 Global Dual-Fuel Engines Market Size by Application
4.2.1 Global Dual-Fuel Engines Market Size Overview by Application (2018-2029)
4.2.2 Global Dual-Fuel Engines Historic Market Size Review by Application (2018-2023)
4.2.3 Global Dual-Fuel Engines Forecasted Market Size by Application (2024-2029)
4.3 Key Regions Market Size Segment by Application
4.3.1 North America Dual-Fuel Engines Sales Breakdown by Application (2018-2023)
4.3.2 Europe Dual-Fuel Engines Sales Breakdown by Application (2018-2023)
4.3.3 Asia-Pacific Dual-Fuel Engines Sales Breakdown by Application (2018-2023)
4.3.4 Latin America Dual-Fuel Engines Sales Breakdown by Application (2018-2023)
4.3.5 Middle East and Africa Dual-Fuel Engines Sales Breakdown by Application (2018-2023)
5 North America Dual-Fuel Engines by Country
5.1 North America Dual-Fuel Engines Historic Market Size by Country
5.1.1 North America Dual-Fuel Engines Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
5.1.2 North America Dual-Fuel Engines Sales in Volume by Country (2018-2023)
5.1.3 North America Dual-Fuel Engines Sales in Value by Country (2018-2023)
5.2 North America Dual-Fuel Engines Forecasted Market Size by Country
5.2.1 North America Dual-Fuel Engines Sales in Volume by Country (2024-2029)
5.2.2 North America Dual-Fuel Engines Sales in Value by Country (2024-2029)
6 Europe Dual-Fuel Engines by Country
6.1 Europe Dual-Fuel Engines Historic Market Size by Country
6.1.1 Europe Dual-Fuel Engines Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
6.1.2 Europe Dual-Fuel Engines Sales in Volume by Country (2018-2023)
6.1.3 Europe Dual-Fuel Engines Sales in Value by Country (2018-2023)
6.2 Europe Dual-Fuel Engines Forecasted Market Size by Country
6.2.1 Europe Dual-Fuel Engines Sales in Volume by Country (2024-2029)
6.2.2 Europe Dual-Fuel Engines Sales in Value by Country (2024-2029)
7 Asia-Pacific Dual-Fuel Engines by Region
7.1 Asia-Pacific Dual-Fuel Engines Historic Market Size by Region
7.1.1 Asia-Pacific Dual-Fuel Engines Market Size Growth Rate (CAGR) by Region: 2018 VS 2022 VS 2029
7.1.2 Asia-Pacific Dual-Fuel Engines Sales in Volume by Region (2018-2023)
7.1.3 Asia-Pacific Dual-Fuel Engines Sales in Value by Region (2018-2023)
7.2 Asia-Pacific Dual-Fuel Engines Forecasted Market Size by Region
7.2.1 Asia-Pacific Dual-Fuel Engines Sales in Volume by Region (2024-2029)
7.2.2 Asia-Pacific Dual-Fuel Engines Sales in Value by Region (2024-2029)
8 Latin America Dual-Fuel Engines by Country
8.1 Latin America Dual-Fuel Engines Historic Market Size by Country
8.1.1 Latin America Dual-Fuel Engines Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
8.1.2 Latin America Dual-Fuel Engines Sales in Volume by Country (2018-2023)
8.1.3 Latin America Dual-Fuel Engines Sales in Value by Country (2018-2023)
8.2 Latin America Dual-Fuel Engines Forecasted Market Size by Country
8.2.1 Latin America Dual-Fuel Engines Sales in Volume by Country (2024-2029)
8.2.2 Latin America Dual-Fuel Engines Sales in Value by Country (2024-2029)
9 Middle East and Africa Dual-Fuel Engines by Country
9.1 Middle East and Africa Dual-Fuel Engines Historic Market Size by Country
9.1.1 Middle East and Africa Dual-Fuel Engines Market Size Growth Rate (CAGR) by Country: 2018 VS 2022 VS 2029
9.1.2 Middle East and Africa Dual-Fuel Engines Sales in Volume by Country (2018-2023)
9.1.3 Middle East and Africa Dual-Fuel Engines Sales in Value by Country (2018-2023)
9.2 Middle East and Africa Dual-Fuel Engines Forecasted Market Size by Country
9.2.1 Middle East and Africa Dual-Fuel Engines Sales in Volume by Country (2024-2029)
9.2.2 Middle East and Africa Dual-Fuel Engines Sales in Value by Country (2024-2029)
10 Company Profiles
10.1 Caterpillar
10.1.1 Caterpillar Company Information
10.1.2 Caterpillar Introduction and Business Overview
10.1.3 Caterpillar Dual-Fuel Engines Sales, Revenue and Gross Margin (2018-2023)
10.1.4 Caterpillar Dual-Fuel Engines Products Offered
10.1.5 Caterpillar Recent Development
10.2 Cummins
10.2.1 Cummins Company Information
10.2.2 Cummins Introduction and Business Overview
10.2.3 Cummins Dual-Fuel Engines Sales, Revenue and Gross Margin (2018-2023)
10.2.4 Cummins Dual-Fuel Engines Products Offered
10.2.5 Cummins Recent Development
10.3 Kubota
10.3.1 Kubota Company Information
10.3.2 Kubota Introduction and Business Overview
10.3.3 Kubota Dual-Fuel Engines Sales, Revenue and Gross Margin (2018-2023)
10.3.4 Kubota Dual-Fuel Engines Products Offered
10.3.5 Kubota Recent Development
10.4 MAN Diesel & Turbo
10.4.1 MAN Diesel & Turbo Company Information
10.4.2 MAN Diesel & Turbo Introduction and Business Overview
10.4.3 MAN Diesel & Turbo Dual-Fuel Engines Sales, Revenue and Gross Margin (2018-2023)
10.4.4 MAN Diesel & Turbo Dual-Fuel Engines Products Offered
10.4.5 MAN Diesel & Turbo Recent Development
10.5 Wartsila
10.5.1 Wartsila Company Information
10.5.2 Wartsila Introduction and Business Overview
10.5.3 Wartsila Dual-Fuel Engines Sales, Revenue and Gross Margin (2018-2023)
10.5.4 Wartsila Dual-Fuel Engines Products Offered
10.5.5 Wartsila Recent Development
10.6 ABC Diesel
10.6.1 ABC Diesel Company Information
10.6.2 ABC Diesel Introduction and Business Overview
10.6.3 ABC Diesel Dual-Fuel Engines Sales, Revenue and Gross Margin (2018-2023)
10.6.4 ABC Diesel Dual-Fuel Engines Products Offered
10.6.5 ABC Diesel Recent Development
10.7 Heinzmann
10.7.1 Heinzmann Company Information
10.7.2 Heinzmann Introduction and Business Overview
10.7.3 Heinzmann Dual-Fuel Engines Sales, Revenue and Gross Margin (2018-2023)
10.7.4 Heinzmann Dual-Fuel Engines Products Offered
10.7.5 Heinzmann Recent Development
10.8 Hyundai
10.8.1 Hyundai Company Information
10.8.2 Hyundai Introduction and Business Overview
10.8.3 Hyundai Dual-Fuel Engines Sales, Revenue and Gross Margin (2018-2023)
10.8.4 Hyundai Dual-Fuel Engines Products Offered
10.8.5 Hyundai Recent Development
10.9 Rolls Royce
10.9.1 Rolls Royce Company Information
10.9.2 Rolls Royce Introduction and Business Overview
10.9.3 Rolls Royce Dual-Fuel Engines Sales, Revenue and Gross Margin (2018-2023)
10.9.4 Rolls Royce Dual-Fuel Engines Products Offered
10.9.5 Rolls Royce Recent Development
10.10 Westport
10.10.1 Westport Company Information
10.10.2 Westport Introduction and Business Overview
10.10.3 Westport Dual-Fuel Engines Sales, Revenue and Gross Margin (2018-2023)
10.10.4 Westport Dual-Fuel Engines Products Offered
10.10.5 Westport Recent Development
10.11 Woodward
10.11.1 Woodward Company Information
10.11.2 Woodward Introduction and Business Overview
10.11.3 Woodward Dual-Fuel Engines Sales, Revenue and Gross Margin (2018-2023)
10.11.4 Woodward Dual-Fuel Engines Products Offered
10.11.5 Woodward Recent Development
10.12 Yanmar
10.12.1 Yanmar Company Information
10.12.2 Yanmar Introduction and Business Overview
10.12.3 Yanmar Dual-Fuel Engines Sales, Revenue and Gross Margin (2018-2023)
10.12.4 Yanmar Dual-Fuel Engines Products Offered
10.12.5 Yanmar Recent Development
11 Upstream, Opportunities, Challenges, Risks and Influences Factors Analysis
11.1 Dual-Fuel Engines Key Raw Materials
11.1.1 Key Raw Materials
11.1.2 Key Raw Materials Price
11.1.3 Raw Materials Key Suppliers
11.2 Manufacturing Cost Structure
11.2.1 Raw Materials
11.2.2 Labor Cost
11.2.3 Manufacturing Expenses
11.3 Dual-Fuel Engines Industrial Chain Analysis
11.4 Dual-Fuel Engines Market Dynamics
11.4.1 Dual-Fuel Engines Industry Trends
11.4.2 Dual-Fuel Engines Market Drivers
11.4.3 Dual-Fuel Engines Market Challenges
11.4.4 Dual-Fuel Engines Market Restraints
12 Market Strategy Analysis, Distributors
12.1 Sales Channel
12.2 Dual-Fuel Engines Distributors
12.3 Dual-Fuel Engines Downstream Customers
13 Research Findings and Conclusion
14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.2 Data Source
14.2 Author Details
14.3 Disclaimer
Published By : QY Research
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