The global diesel vehicle parts market is expected to grow at a significant rate in the coming years, primarily fueled by the increasing demand for diesel-powered vehicles in emerging markets. According to a report by Research and Markets, the market size for diesel fuel injection systems (which is a major component of diesel vehicles) is estimated to reach $68.14 billion by 2024, growing at a CAGR of 5.96% from 2019 to 2024. The growth of the diesel vehicle parts market is also driven by the increasing focus on reducing greenhouse gas emissions and improving fuel efficiency.
Diesel engines are more fuel-efficient compared to their gasoline counterparts, and this has led to a higher demand for diesel vehicles in the transportation industry. However, the market is also facing challenges due to the negative impact of diesel emissions on the environment and public health. This has led to stricter emission regulations in several countries, which may reduce the demand for diesel vehicles in the future.
Overall, the diesel vehicle parts market is expected to continue growing due to the demand from emerging markets and the increasing focus on fuel efficiency, while also facing challenges from stricter emission regulations.
Post time: Apr-26-2023