Diesel Engine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global diesel engine market size reached US$ 220.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 274.9 Billion by 2028, exhibiting a growth rate (CAGR) of 3.63% during 2023-2028.
Diesel engine is an internal combustion engine wherein air is compressed to a sufficiently high temperature inside a cylindrical vessel to ignite the fuel. It converts the chemical energy in the fuel into mechanical energy for powering freight trucks, locomotives, tractors, and marine vessels. At present, two types of diesel engines are available globally, which include two-stroke engines that complete one energy cycle in two piston strokes per crankshaft revolution and four-stroke engines. Four-stroke engines deliver one power stroke for every two piston cycles or four piston strokes.
Diesel Engine Market Trends:
A diesel engines offer improved operational performance, and consequently, they find extensive applications in the construction, marine, mining, healthcare, forestry, telecommunications, and agriculture industries across the globe. They also provide better fuel efficiency as compared to petrol engines and are increasingly utilized in commercial and heavy-duty vehicles. This, in confluence with the thriving automotive industry, represents one of the key factors propelling the growth of the market. Moreover, modern diesel engines have overcome the disadvantages of earlier models with higher noise and maintenance costs. These engines require less maintenance on account of the absence of spark plugs or wires. Besides this, diesel engines can operate with much higher compression ratios than spark-ignition engines, which allows them to achieve higher efficiencies. This, coupled with rising energy demand from the manufacturing industry and the increasing use of diesel engines for non-automotive applications, are positively influencing the market. Furthermore, there is a rise in the requirement for a reliable and consistent source of power generation to ensure uninterrupted and efficient operations. This is catalyzing the demand for diesel engines worldwide.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global diesel engine market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on power rating and end user.
Breakup by Power Rating:
0.5 MW–1 MW
Up to 0.5 MW
2 MW–5 MW
1 MW–2 MW
Above 5 MW
Presently, 0.5 MW–1 MW holds the largest market share on account of the increasing utilization of diesel power engines in this capacity in small-scale data centers and large-scale residential facilities, commercial complexes and hospitals.
Breakup by End User:
Automotive
On-Road
Light Vehicles
Medium/Heavy Trucks
Light Trucks
Off Road
Industrial/Construction Equipment
Agriculture Equipment
Marine Applications
Non-Automotive
At present, the diesel engine finds extensive applications in the automotive industry as it offers better fuel economy and greater torque.
Breakup by Region:
Asia Pacific
Europe
North America
Middle East and Africa
Latin America
The Asia Pacific dominates the market on account of the rising sales of automobiles in the region.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are AGCO Corporation, China First Automobile Works (FAW) Group 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, Wдrtsilд Oyj Abp, Cummins, Inc., Rolls-Royce Motor Cars Limited, and Caterpillar.
Key Questions Answered in This Report
1. What was the size of the global diesel engine market in 2022?
2. What is the expected growth rate of the global diesel engine market during 2023-2028?
3. What are the key factors driving the global diesel engine market?
4. What has been the impact of COVID-19 on the global diesel engine market?
5. What is the breakup of the global diesel engine market based on the power rating?
6. What is the breakup of the global diesel engine market based on the end user?
7. What are the key regions in the global diesel engine market?
8. Who are the key players/companies in the global diesel engine market?
Diesel engine is an internal combustion engine wherein air is compressed to a sufficiently high temperature inside a cylindrical vessel to ignite the fuel. It converts the chemical energy in the fuel into mechanical energy for powering freight trucks, locomotives, tractors, and marine vessels. At present, two types of diesel engines are available globally, which include two-stroke engines that complete one energy cycle in two piston strokes per crankshaft revolution and four-stroke engines. Four-stroke engines deliver one power stroke for every two piston cycles or four piston strokes.
Diesel Engine Market Trends:
A diesel engines offer improved operational performance, and consequently, they find extensive applications in the construction, marine, mining, healthcare, forestry, telecommunications, and agriculture industries across the globe. They also provide better fuel efficiency as compared to petrol engines and are increasingly utilized in commercial and heavy-duty vehicles. This, in confluence with the thriving automotive industry, represents one of the key factors propelling the growth of the market. Moreover, modern diesel engines have overcome the disadvantages of earlier models with higher noise and maintenance costs. These engines require less maintenance on account of the absence of spark plugs or wires. Besides this, diesel engines can operate with much higher compression ratios than spark-ignition engines, which allows them to achieve higher efficiencies. This, coupled with rising energy demand from the manufacturing industry and the increasing use of diesel engines for non-automotive applications, are positively influencing the market. Furthermore, there is a rise in the requirement for a reliable and consistent source of power generation to ensure uninterrupted and efficient operations. This is catalyzing the demand for diesel engines worldwide.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global diesel engine market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on power rating and end user.
Breakup by Power Rating:
0.5 MW–1 MW
Up to 0.5 MW
2 MW–5 MW
1 MW–2 MW
Above 5 MW
Presently, 0.5 MW–1 MW holds the largest market share on account of the increasing utilization of diesel power engines in this capacity in small-scale data centers and large-scale residential facilities, commercial complexes and hospitals.
Breakup by End User:
Automotive
On-Road
Light Vehicles
Medium/Heavy Trucks
Light Trucks
Off Road
Industrial/Construction Equipment
Agriculture Equipment
Marine Applications
Non-Automotive
At present, the diesel engine finds extensive applications in the automotive industry as it offers better fuel economy and greater torque.
Breakup by Region:
Asia Pacific
Europe
North America
Middle East and Africa
Latin America
The Asia Pacific dominates the market on account of the rising sales of automobiles in the region.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are AGCO Corporation, China First Automobile Works (FAW) Group 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, Wдrtsilд Oyj Abp, Cummins, Inc., Rolls-Royce Motor Cars Limited, and Caterpillar.
Key Questions Answered in This Report
1. What was the size of the global diesel engine market in 2022?
2. What is the expected growth rate of the global diesel engine market during 2023-2028?
3. What are the key factors driving the global diesel engine market?
4. What has been the impact of COVID-19 on the global diesel engine market?
5. What is the breakup of the global diesel engine market based on the power rating?
6. What is the breakup of the global diesel engine market based on the end user?
7. What are the key regions in the global diesel engine market?
8. Who are the key players/companies in the global diesel engine market?
1 PREFACE
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 GLOBAL DIESEL ENGINE MARKET
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Power Rating
5.5 Market Breakup by End-User
5.6 Market Breakup by Region
5.7 Market Forecast
6 MARKET BREAKUP BY POWER RATING
6.1 0.5 MW–1 MW
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Up to 0.5 MW
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 2 MW–5 MW
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 1 MW–2 MW
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Above 5 MW
6.5.1 Market Trends
6.5.2 Market Forecast
7 MARKET BREAKUP BY END-USER
7.1 Automotive
7.1.1 Market Trends
7.1.2 Market Breakup by Type
7.1.2.1 On-Road
7.1.2.1.1 Market Trends
7.1.2.1.2 Major Types
7.1.2.1.2.1 Light Vehicles
7.1.2.1.2.2 Medium/Heavy Trucks
7.1.2.1.2.3 Light Trucks
7.1.2.1.3 Market Forecast
7.1.2.2 Off-Road
7.1.2.2.1 Market Trends
7.1.2.2.2 Major Types
7.1.2.2.2.1 Industrial/Construction Equipment
7.1.2.2.2.2 Agriculture Equipment
7.1.2.2.2.3 Marine Applications
7.1.2.2.3 Market Forecast
7.1.3 Market Forecast
7.2 Non-Automotive
7.2.1 Market Trends
7.2.2 Market Forecast
8 MARKET BREAKUP BY REGION
8.1 Asia Pacific
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Europe
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 North America
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Middle East and Africa
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Latin America
8.5.1 Market Trends
8.5.2 Market Forecast
9 SWOT ANALYSIS
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 VALUE CHAIN ANALYSIS
10.1 Overview
10.2 Research and Development
10.3 Raw Material Procurement
10.4 Manufacturing
10.5 Marketing
10.6 Distribution
10.7 End-Use
11 PORTERS FIVE FORCES ANALYSIS
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 PRICE ANALYSIS
13 MANUFACTURING PROCESS
13.1 Product Overview
13.2 Raw Material Requirements
13.3 Manufacturing Process
13.4 Key Success and Risk Factors
14 COMPETITIVE LANDSCAPE
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 AGCO Corporation
14.3.2 China First Automobile Works (FAW) Group Corporation
14.3.3 Robert Bosch GmbH
14.3.4 Deere & Company
14.3.5 Continental AG
14.3.6 Delphi Automotive System Private Limited
14.3.7 Mitsubishi Heavy Industries, Ltd.
14.3.8 Ford Motor Company
14.3.9 General Motors Company
14.3.10 MAN SE
14.3.11 Wдrtsilд Oyj Abp
14.3.12 Cummins, Inc.
14.3.13 Caterpillar
14.3.14 Rolls-Royce Motor Cars Limited
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 GLOBAL DIESEL ENGINE MARKET
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Power Rating
5.5 Market Breakup by End-User
5.6 Market Breakup by Region
5.7 Market Forecast
6 MARKET BREAKUP BY POWER RATING
6.1 0.5 MW–1 MW
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Up to 0.5 MW
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 2 MW–5 MW
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 1 MW–2 MW
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Above 5 MW
6.5.1 Market Trends
6.5.2 Market Forecast
7 MARKET BREAKUP BY END-USER
7.1 Automotive
7.1.1 Market Trends
7.1.2 Market Breakup by Type
7.1.2.1 On-Road
7.1.2.1.1 Market Trends
7.1.2.1.2 Major Types
7.1.2.1.2.1 Light Vehicles
7.1.2.1.2.2 Medium/Heavy Trucks
7.1.2.1.2.3 Light Trucks
7.1.2.1.3 Market Forecast
7.1.2.2 Off-Road
7.1.2.2.1 Market Trends
7.1.2.2.2 Major Types
7.1.2.2.2.1 Industrial/Construction Equipment
7.1.2.2.2.2 Agriculture Equipment
7.1.2.2.2.3 Marine Applications
7.1.2.2.3 Market Forecast
7.1.3 Market Forecast
7.2 Non-Automotive
7.2.1 Market Trends
7.2.2 Market Forecast
8 MARKET BREAKUP BY REGION
8.1 Asia Pacific
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Europe
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 North America
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Middle East and Africa
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Latin America
8.5.1 Market Trends
8.5.2 Market Forecast
9 SWOT ANALYSIS
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 VALUE CHAIN ANALYSIS
10.1 Overview
10.2 Research and Development
10.3 Raw Material Procurement
10.4 Manufacturing
10.5 Marketing
10.6 Distribution
10.7 End-Use
11 PORTERS FIVE FORCES ANALYSIS
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 PRICE ANALYSIS
13 MANUFACTURING PROCESS
13.1 Product Overview
13.2 Raw Material Requirements
13.3 Manufacturing Process
13.4 Key Success and Risk Factors
14 COMPETITIVE LANDSCAPE
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 AGCO Corporation
14.3.2 China First Automobile Works (FAW) Group Corporation
14.3.3 Robert Bosch GmbH
14.3.4 Deere & Company
14.3.5 Continental AG
14.3.6 Delphi Automotive System Private Limited
14.3.7 Mitsubishi Heavy Industries, Ltd.
14.3.8 Ford Motor Company
14.3.9 General Motors Company
14.3.10 MAN SE
14.3.11 Wдrtsilд Oyj Abp
14.3.12 Cummins, Inc.
14.3.13 Caterpillar
14.3.14 Rolls-Royce Motor Cars Limited
LIST OF TABLES
Table 1: Global: Diesel Engine Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Diesel Engine Market Forecast: Breakup by Power Rating (in Million US$), 2023-2028
Table 3: Global: Diesel Engine Market Forecast: Breakup by End-User (in Million US$), 2023-2028
Table 4: Global: Diesel Engine Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Global: Diesel Engine Market Structure
Table 6: Global: Diesel Engine Market: Key Players
Table 1: Global: Diesel Engine Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Diesel Engine Market Forecast: Breakup by Power Rating (in Million US$), 2023-2028
Table 3: Global: Diesel Engine Market Forecast: Breakup by End-User (in Million US$), 2023-2028
Table 4: Global: Diesel Engine Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Global: Diesel Engine Market Structure
Table 6: Global: Diesel Engine Market: Key Players
LIST OF FIGURES
Figure 1: Global: Diesel Engine Market: Major Drivers and Challenges
Figure 2: Global: Diesel Engine Market: Sales Value (in Billion US$), 2017 - 2022
Figure 3: Global: Diesel Engine Market: Breakup by Power Rating (in %), 2022
Figure 4: Global: Diesel Engine Market: Breakup by End-User (in %), 2022
Figure 5: Global: Diesel Engine Market: Breakup by Region (in %), 2022
Figure 6: Global: Diesel Engine Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 7: Global: Diesel Engine Industry: SWOT Analysis
Figure 8: Global: Diesel Engine Industry: Value Chain Analysis
Figure 9: Global: Diesel Engine Industry: Porter’s Five Forces Analysis
Figure 10: Global: Diesel Engine (0.5 MW–1 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Diesel Engine (0.5 MW–1 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Diesel Engine (Up to 0.5 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Diesel Engine (Up to 0.5 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Diesel Engine (2 MW–5 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Diesel Engine (2 MW–5 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Diesel Engine (1 MW–2 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Diesel Engine (1 MW–2 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Diesel Engine (Above 5 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Diesel Engine (Above 5 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Diesel Engine (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Diesel Engine (Automotive) Market: Breakup by Type (in %), 2022
Figure 22: Global: Diesel Engine (On-Road) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Diesel Engine (On-Road) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Diesel Engine (Off-Road) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Diesel Engine (Off-Road) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Diesel Engine (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Diesel Engine (Non-Automotive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Diesel Engine (Non-Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Asia Pacific: Diesel Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Asia Pacific: Diesel Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Europe: Diesel Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Europe: Diesel Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: North America: Diesel Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: North America: Diesel Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Middle East and Africa: Diesel Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Middle East and Africa: Diesel Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Latin America: Diesel Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Latin America: Diesel Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 1: Global: Diesel Engine Market: Major Drivers and Challenges
Figure 2: Global: Diesel Engine Market: Sales Value (in Billion US$), 2017 - 2022
Figure 3: Global: Diesel Engine Market: Breakup by Power Rating (in %), 2022
Figure 4: Global: Diesel Engine Market: Breakup by End-User (in %), 2022
Figure 5: Global: Diesel Engine Market: Breakup by Region (in %), 2022
Figure 6: Global: Diesel Engine Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 7: Global: Diesel Engine Industry: SWOT Analysis
Figure 8: Global: Diesel Engine Industry: Value Chain Analysis
Figure 9: Global: Diesel Engine Industry: Porter’s Five Forces Analysis
Figure 10: Global: Diesel Engine (0.5 MW–1 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Diesel Engine (0.5 MW–1 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Diesel Engine (Up to 0.5 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Diesel Engine (Up to 0.5 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Diesel Engine (2 MW–5 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Diesel Engine (2 MW–5 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Diesel Engine (1 MW–2 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Diesel Engine (1 MW–2 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Diesel Engine (Above 5 MW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Diesel Engine (Above 5 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Diesel Engine (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Diesel Engine (Automotive) Market: Breakup by Type (in %), 2022
Figure 22: Global: Diesel Engine (On-Road) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Diesel Engine (On-Road) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Diesel Engine (Off-Road) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Diesel Engine (Off-Road) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Diesel Engine (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Diesel Engine (Non-Automotive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Diesel Engine (Non-Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Asia Pacific: Diesel Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Asia Pacific: Diesel Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Europe: Diesel Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Europe: Diesel Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: North America: Diesel Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: North America: Diesel Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Middle East and Africa: Diesel Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Middle East and Africa: Diesel Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Latin America: Diesel Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Latin America: Diesel Engine Market Forecast: Sales Value (in Million US$), 2023-2028
