Market Status and Competitive Landscape Analysis of China's Diesel Engine Industry in 2022

Diesel engine sales have fluctuated around 6 million units in recent years

From 2014 to 2016, the national diesel engine sales showed a sharp decline. From 2017 to 2021, the national diesel engine sales fluctuated around 6 million units. From January to February 2022, the national cumulative diesel engine sales volume was 810,000 units, a year-on-year decrease of 32%.

Commercial vehicle diesel engines account for the largest share of sales

In terms of diesel engine applications, in 2021, the sales volume of diesel engines for commercial vehicles will be close to 3 million units, accounting for about 49%; followed by the sales of diesel engines for agricultural machinery and construction machinery, which both exceed 1 million units; and those for power generation and passenger vehicles. The sales of diesel engines are all over 200,000 units; the sales of diesel engines in other marine and general fields are less than 50,000 units, accounting for less than 1%. In terms of diesel engine applications, in 2021, the sales volume of diesel engines for commercial vehicles will be close to 3 million units, accounting for about 49%; followed by the sales of diesel engines for agricultural machinery and construction machinery, which both exceed 1 million units; and those for power generation and passenger vehicles. The sales of diesel engines are all over 200,000 units; the sales of diesel engines in other marine and general fields are less than 50,000 units, accounting for less than 1%.

The proportion of sales of multi-cylinder diesel engines has increased year by year

In terms of diesel engine types, the sales volume of multi-cylinder diesel engines has increased year by year from 55% in 2014 to 87% in 2021. From January to February 2022, the sales volume of multi-cylinder diesel engines nationwide will further increase to 89%, mainly due to Driven by the development of the commercial vehicle market, the application market for multi-cylinder diesel engines has grown rapidly.

Since 2015, the overall sales of multi-cylinder diesel engines across the country have shown a trend of fluctuating growth. In 2021, it will be about 5.33 million units, which is basically the same as that in 2020. From January to February 2022, the national sales of multi-cylinder diesel engines will be about 720,000 units, down 30% from 2021.

Judging from the sales volume of major companies in the multi-cylinder diesel engine manufacturing industry, in 2021, Weichai's sales of multi-cylinder diesel engines will exceed 900,000 units, far ahead of other companies in the industry; followed by Yuchai Group's sales of more than 500,000 units, Yunnei The sales of multi-cylinder diesel engines of Hequanchai exceeded 400,000 units; the sales of multi-cylinder diesel engines of Jiangling, Jiefang, and Xinchai all exceeded 300,000 units; the sales of Foton Cummins, Dongfeng Cummins and Shangchai all exceeded 200,000 units.