With major players JCB, Deere & Company, AB Volvo and others
DUBLIN, July 13, 2022 /PRNewswire/ — Added the “Off-Highway Vehicle Engines Market Size, Share, Trends, By Power Type, By Engine Capacity, By Fuel Type and By Region – Forecast To 2030” report ResearchAndMarkets.com Offer.
It is expected to reach the global market size for off-highway vehicle engines $80.13 billion in 2030 and register a sales CAGR of 7.3% from 2020 to 2030 according to the latest report. The steady growth in market revenue of off-highway vehicle engines is largely driven by increasing agriculture. Increasing demand for off-highway vehicles in construction, mining and agriculture sectors is expected to drive the market growth over the forecast period.
The construction industry had a share of 40% in 2018 and is expected to grow at a CAGR of 8.5% from 2020 to 2030 due to increasing investments in infrastructure expansion. Furthermore, the rapid industrialization and urbanization around the world is forecast to spur demand for off-highway vehicles for construction applications over the forecast period.
That Asia Pacific Region dominated the global market with a 47% share of sales in 2018. Emerging markets of China and India will expect significant growth due to the strong economic development and industrialization. A CAGR of 8.2% is expected in the European region from 2020 to 2030 due to increasing demand for modern farming practices such as precision farming and animal husbandry.
Factors such as increased government spending on infrastructure development coupled with the need for advanced and powerful machinery in the construction and mining industries are fueling the market demand for off-road vehicle engines. In addition, the replacement of old fleets is also driving the growth of this market. However, strict emission standards imposed by government agencies are hampering market growth to some extent.
Some key highlights from the report
- Construction & Mining Equipment segment is expected to grow at the highest CAGR during the forecast period. The main reason for the market growth is the increased demand for higher engine power in construction and mining vehicles, which has led to manufacturers offering more powerful OHV engines.
- The automotive segment is expected to be the largest market during the forecast period. It is estimated that automotive applications will hold the largest share of the off-highway vehicle engine market by volume in 2018. The automotive segment includes passenger cars, light commercial vehicles and heavy commercial vehicles. Among the key factors driving the growth of the automotive segment is the increased demand for both light and heavy commercial vehicles, particularly in the United States Asia Pacific and North American regions.
For the purposes of this report, the publisher has segmented the off-highway vehicle engine market by power type, engine capacity, fuel type, and region:
Energy type Outlook
- Engines for construction and mining machines
- Agricultural tractor engines
Motor capacity outlook
- 5l-10l engines
- >10l engines
Fuel Type Outlook
Main topics covered:
Chapter 1. Market Summary
Chapter 2. Summary
Chapter 3. Indicative Metrics
Chapter 4. Off-Highway Vehicle Engines Market Segmentation and Impact Analysis
4.1. Off-Highway Vehicle Engines Market Segmentation Analysis
4.2. Industrial outlook
4.2.1. Analysis of market indicators
4.2.2. Analysis of market drivers
184.108.40.206. Rapid growth of construction and agriculture industry around the world
220.127.116.11. Increasing need to enable farmers to increase production and increase agricultural productivity
4.2.3. Analysis of Market Constraints
18.104.22.168. Increasing acquisition, maintenance and fuel costs
22.214.171.124. Concerns about high emissions from diesel engines
4.3. Technological Insights
4.4. Legal framework
4.5. ETOP analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. price trend analysis
4.9. customer assignment
4.10. COVID-19 Impact Analysis
4.11. Impact of the global recession
Chapter 5. Off-Highway Vehicle Engines Market by Power Type Insights and Trends
5.1. Power type dynamics and market share, 2022 and 2030
5.2. Engines for construction and mining machines
5.2.1. Market Estimates and Forecasts, 2019-2030 ($Bn)
5.2.2. Market Estimates and Forecasts, by Region, 2019-2030 ($Bn)
5.3. Agricultural tractor engines
5.3.1. Market Estimates and Forecasts, 2019-2030 ($Bn)
5.3.2. Market Estimates and Forecasts, by Region, 2019-2030 ($Bn)
Chapter 6. Off-Highway Vehicle Engines Market by engine capacity insights and trends
Chapter 7. Off-Highway Vehicle Engines Market by Fuel Type, Insights and Trends
Chapter 8. Regional Outlook for Off-Highway Vehicle Engines Market
8.1. Market share of off-highway vehicle engines by region, 2022 and 2030
Chapter 9. Competitive landscape
9.1. Market share of the market shares of the manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. market positioning
9.5. Strategy Benchmarking
9.6. provider landscape
Chapter 10. Company Profiles
- Caterpillar Inc.
- Cummins Inc.
- Deer & Company
- JC Bamford Excavators Ltd.
- Mahindra & Mahindra Ltd.
- AB Volvo
- KUBOTA Corporation
- Volkswagen AG
- Hitachi Construction Machinery Co.Ltd.
- Komatsu Ltd
For more information about this report, visit https://www.researchandmarkets.com/r/kduny1
research and markets
Laura WoodSenior managers
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