The global engine, turbine, and power transmission equipment manufacturing market, a part of the machinery manufacturing industry, grew at a compound annual growth rate (CAGR) of around 1.3% during the historic period. The growth is mainly due to rising construction activities in developing regions such as Asia Pacific and the Middle East. However, the machinery manufacturing industry, experienced a fall in 2015 due the global oil crisis that led to a further decline in the crude oil prices. This slow growth was partially due to slowdown in the European, Japanese, and American capital expenditure on industrial machinery, especially from the chemicals manufacturers, oil refineries, transport sector, and wholesale and retail industry.

In the forecast period, the global engine, turbine, and power transmission equipment manufacturing market size is expected to be over $760 billion by 2021, growing at a CAGR of nearly 4%. This is expected due to expansion of renewable energy resources across the countries and government initiatives in nations such as China and India. Furthermore, rising population, exploration of shale oil, and increasing per capita incomes are expected to drive the global engine, turbine, and power transmission equipment manufacturing market in the future.

Find TBRC’s report on the Engine, Turbine, And Power Transmission Equipment Manufacturing market: https://www.thebusinessresearchcompany.com/report/engine-turbine-and-power-transmission-equipment-manufacturing-global-market-report-2018

With the significant rise in pollution, diesel engine manufacturers are adopting latest emission treatments to bring down emission levels. Exhaust Gas Recirculation (EGR) and Selective Catalytic Reduction (SCR) technologies are extensively being used by diesel engine manufacturers to reduce NOx emissions which are harmful at certain levels to the atmosphere. Exhaust Gas Recirculation involves treating the exhaust gasses produced, by re-circulating them in a combustion chamber in the presence of oxygen. This leads to combustion process occurring at low temperature, thereby reducing the formation of NOx.

Major companies in the engine, turbine, and power transmission equipment manufacturing market, offering emission treatment technology include General Electric Company, Siemens Corporation, Caterpillar Inc., Cummins Inc., Vestas Wind Systems A/S, Rolls-Royce Plc.

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