Diesel Common Rail Market by vehicle type (Passenger Cars, Light commercial vehicles, Heavy commercial vehicles), Engine, and region (North America, Europe, Asia-Pacific, Middle East, Africa, and South America).
The global Diesel Common Rail Market size is expected to reach USD 6.09 billion and is projected to reach a CAGR of 4.9% from 2023-2030.
Modern diesel engines employ a direct fuel supply known as "common rail." It is dependent on a fuel pump to keep the pressure up and on fuel injectors to regulate when and how much fuel is injected. It makes sure that the fuel injection atomization or fuel spray is electronically controlled with the use of a programmable control module, enabling numerous injections at any pressure and offering a degree of flexibility for improved power, fuel efficiency, and pollution management.
In order to inject gasoline under high pressure, automobile vehicles employ a common rail system. Vehicles powered by gasoline and diesel engines both use the Diesel common rail system. Nevertheless, the price of the device is more than one that uses direct fuel injection. The method by which gasoline is supplied and mixed with air is what distinguishes a direct fuel injection system from a diesel common rail fuel system.
Due to increased logistics and construction activity, it is anticipated that demand for diesel common rail systems would expand throughout the projection period. Through the use of land, sea, and air connections, China's One Belt One Road strategy seeks to create a single market with topographies all over the world. The Neom Project also seeks to construct a smart, futuristic metropolis in Saudi Arabia with a total length of 460 kilometers and an overall area of 26500 square kilometers. Thus, automotive manufacturers have started planning to develop their diesel engine manufacturing operations in the probable areas over the projection period in order to meet the rising demand for diesel engines at the worldwide level.
The market was adversely affected by COVID-19. In practically all of the main areas, the COVID-19 pandemic caused economic development to slow down, which changed consumer purchasing habits. International and domestic transportation have been impeded as a result of the lockdowns implemented throughout multiple nations. This has had a significant impact on the supply chains of numerous sectors globally, widening the supply-demand mismatch. Hence, it is projected that a shortage of raw materials would slow down the manufacture of diesel common rail systems, which will have a negative effect on the market's expansion.
Globally, the market for diesel common rail systems is expected to develop over the next few years as a result of the strict emission standards that are being implemented by international governmental and environmental organizations. Also, the cost-effectiveness of diesel cars and diesel fuel relative to gasoline is significantly boosting the market's sales volumes. The market's expansion, however, is expected to be hampered by rising demand for and adoption of electric cars in the automotive industry.
Asia-Pacific to Dominate the Market