Off-Highway Vehicle Engine Market Growth, Size, Trends, Revenue, Demand and Future Outlook
Off-Highway Vehicle Engine Market Size- By Power Type, By Engine Capacity, By Fuel Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Aug-2023 | Report ID: AMIN23124 | Pages: 1 - 234 | Formats*: |
| Category : Automotive & Transportation | |||
Off-Highway Vehicle Engine Market Introduction and Overview
According to SPER Market Research, the Global Off-Highway Vehicle Engine Market is estimated to reach USD 24.17 billion by 2033 with a CAGR of 7.34%.
The report includes an in-depth analysis of the Global Off-Highway Vehicle Engine Market, including market size and trends, product mix, distribution channels, and supplier analysis. An off-highway vehicle (OHV) is a motor vehicle that is not designed to be driven or operated on a public roadway. It has a flexible suspension, caterpillar tracks, and huge tyres with deep treads. In recent years, car manufacturers have tried to enhance OHV engine designs to reduce pollutant emissions using techniques like as direct fuel injection, variable valve timing, combustion chamber mixing, and exhaust gas recycling.
- Agricultural mechanisation: Growing mechanisation in agriculture resulted in a significant increase in tractor sales. The primary goal of agricultural mechanisation is to boost production by making better use of natural resources. As a result of increased mechanisation, the worldwide off-highway engine market is expected to develop in the near future.
- Increased infrastructural activity: Infrastructure development stimulates building and other activity. Off-road vehicles are in great demand as the construction and agriculture industries expand. However, increased demand for off-highway vehicles in construction and agricultural activities will drive growth in the worldwide off-highway engine market in the near future.
Market Opportunities and Challenges
One of the most important market opportunities for the Global Off-Highway Vehicle Engine Market is the rising demand for environmentally-friendly and sustainable engine solutions. As sustainability concerns increase, there is a growing market opportunity for manufacturers to develop and offer electric, hybrid, or alternative fuel-powered off-highway vehicle engines. These eco-friendly options not only meet stricter emissions regulations but also cater to the increasing preference for greener technology in various industries, driving the demand for more sustainable off-highway vehicles.
The complexity and expense of complying severe emissions rules, on the other hand, is a key barrier for the Global Off-Highway Vehicle Engine Market. To lessen environmental effect, governments throughout the world are adopting more stringent emission rules for off-highway vehicles. Developing and integrating new emission control technology can be difficult and costly for manufacturers. Compliance with these requirements while preserving engine economy and performance continues to be an industry concern. Manufacturers must find a balance between satisfying regulatory criteria and delivering cost-effective market solutions.
Market Competitive Landscape
The worldwide off-highway vehicle engine industry is fairly fragmented, with numerous prominent businesses operating at both the global and regional levels. Product development and strategic partnerships are being pursued by key competitors in order to extend their respective engine portfolios and achieve a strong foothold in the worldwide market. Some of the key players in the global Off-Highway Vehicle Engine market include AGCO Corporation, Caterpillar Inc., Cummins Inc., Deere & Company, Deutz AG, JC Bamford Excavators Ltd., Komatsu Ltd, Scania AB, Volkswagen AG, Volvo Penta, Weichai Power Co. Ltd, Yanmar Co. Ltd., Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Power Type, By Engine Capacity, By Fuel Type |
| Regions covered | Middle East and Africa, Asia-Pacific, Latin America, Europe, North America |
| Companies Covered | AGCO Corporation, Caterpillar Inc., Cummins Inc., Deere & Company, Deutz AG, Hitachi Construction Machinery Co. Ltd., JC Bamford Excavators Ltd., Komatsu Ltd, Kubota Corporation, Mahindra & Mahindra Limited (Mahindra Powertrain), Scania AB, Volkswagen AG, Volvo Penta, Weichai Power Co. Ltd, Yanmar Co. Ltd., Others |
COVID-19 Impact on Global Off-Highway Vehicle Engine Market
Government regulations and policy changes during the pandemic, such as economic stimulus packages and tax incentives, could have influenced the off-highway vehicle engine market through shifts in purchasing patterns and investments in specific sectors. Additionally, the pandemic accelerated the adoption of digital technologies and remote monitoring systems in off-highway vehicles, potentially leading engine manufacturers to incorporate more advanced telematics and connectivity features. The long-term impact on the off-highway vehicle engine market will depend on the global economic recovery, industry rebound, technological advancements, sustainability trends, and regulatory changes, which will collectively shape the market's trajectory.
Key Target Audience:
- Agricultural Equipment Manufacturers
- Automotive Industry Players
- Construction and Earthmoving Equipment Manufacturers
- Consulting Firms and Market Analysts
- Government and Regulatory Bodies
- Investors and Financial Institutions
- Manufacturers and Suppliers
- Mining Industry
- Research and Development Teams
Our in-depth analysis of the Off-Highway Vehicle Engine Market includes the following segments:
| By Power Type: |
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| By Engine Capacity: |
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| By Fuel Type: |
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Key Topics Covered in the Report:
- Global Off-Highway Vehicle Engine Market Size (FY’2023-FY’2033)
- Outline of Global Off-Highway Vehicle Engine Market
- Segmentation of Global Off-Highway Vehicle Engine Market By Power Type (Construction & Mining Equipment Engines, Agriculture Tractor Engines)
- Segmentation of Global Off-Highway Vehicle Engine Market By Engine Capacity (<5l Engines, 5l-10l Engines, >10l Engines)
- Segmentation of Global Off-Highway Vehicle Engine Market By Fuel Type (Diesel, Gasoline, Others)
- Statistical Snap of Global Off-Highway Vehicle Engine Market
- Expansion Analysis of Global Off-Highway Vehicle Engine Market
- Problems and Obstacles in Global Off-Highway Vehicle Engine Market
- Competitive Landscape in the Global Off-Highway Vehicle Engine Market
- Impact of COVID-19 and Demonetization on Global Off-Highway Vehicle Engine Market
- Details on Current Investment in Global Off-Highway Vehicle Engine Market
- Competitive Analysis of Global Off-Highway Vehicle Engine Market
- Key Players in the Global Off-Highway Vehicle Engine Market
- SWOT Analysis of Global Off-Highway Vehicle Engine Market
- Global Off-Highway Vehicle Engine Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Off-Highway Vehicle Engine Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Off-Highway Vehicle Engine Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Off-Highway Vehicle Engine Market
7. Global Off-Highway Vehicle Engine Market, By Power Type (USD Million)
7.1. Global Off-Highway Vehicle Engine Market Value Share and Forecast, By Power Type, 2023-20337.2. Agriculture Tractor Engines7.3. Construction & Mining Equipment Engines
8. Global Off-Highway Vehicle Engine Market, By Engine Capacity (USD Million)
8.1. Global Off-Highway Vehicle Engine Market Value Share and Forecast, By Engine Capacity, 2023-20338.2. <5l Engines8.3. 5l-10l Engines8.4. >10l Engines
9. Global Off-Highway Vehicle Engine Market, By Fuel Type (USD Million)
9.1. Global Off-Highway Vehicle Engine Market Value Share and Forecast, By Fuel Type, 2023-20339.2. Diesel9.3. Gasoline9.4. Others
10. Global Off-Highway Vehicle Engine Market Forecast, 2019-2033 (USD Million)
10.1. Global Off-Highway Vehicle Engine Market Size and Market Share
11. Global Off-Highway Vehicle Engine Market, By Power Type, 2019-2033 (USD Million)
11.1. Global Off-Highway Vehicle Engine Market Size and Market Share By Power Type (2019-2026)11.2. Global Off-Highway Vehicle Engine Market Size and Market Share By Power Type (2027-2033)
12. Global Off-Highway Vehicle Engine Market, By Engine Capacity, 2019-2033 (USD Million)
12.1. Global Off-Highway Vehicle Engine Market Size and Market Share By Engine Capacity (2019-2026)12.2. Global Off-Highway Vehicle Engine Market Size and Market Share By Engine Capacity (2027-2033)
13. Global Off-Highway Vehicle Engine Market, By Fuel Type, 2019-2033 (USD Million)
13.1. Global Off-Highway Vehicle Engine Market Size and Market Share By Fuel Type (2019-2026)13.2. Global Off-Highway Vehicle Engine Market Size and Market Share By Fuel Type (2027-2033)
14. Global Off-Highway Vehicle Engine Market, By Region, 2019-2033 (USD Million)
14.1. Global Off-Highway Vehicle Engine Market Size and Market Share By Region (2019-2026)14.2. Global Off-Highway Vehicle Engine Market Size and Market Share By Region (2027-2033)14.3. Asia-Pacific14.3.1. Australia14.3.2. China14.3.3. India14.3.4. Japan14.3.5. South Korea14.3.6. Rest of Asia-Pacific14.4. Europe14.4.1. France14.4.2. Germany14.4.3. Italy14.4.4. Spain14.4.5. United Kingdom14.4.6. Rest of Europe14.5. Middle East and Africa14.5.1. Kingdom of Saudi Arabia14.5.2. United Arab Emirates14.5.3. Rest of Middle East & Africa14.6. North America14.6.1. Canada14.6.2. Mexico14.6.3. United States14.7. Latin America14.7.1. Argentina14.7.2. Brazil14.7.3. Rest of Latin America
15. Company Profile
15.1. AGCO Corporation15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments15.2. Caterpillar Inc.15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments15.3. Cummins Inc.15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments15.4. Deere & Company15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments15.5. Deutz AG15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments15.6. Hitachi Construction Machinery Co. Ltd.15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments15.7. JC Bamford Excavators Ltd.15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments15.8. Komatsu Ltd15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments15.9. Kubota Corporation15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments15.10. Mahindra & Mahindra Limited (Mahindra Powertrain)15.10.1. Company details15.10.2. Financial outlook15.10.3. Product summary15.10.4. Recent developments15.11. Scania AB15.11.1. Company details15.11.2. Financial outlook15.11.3. Product summary15.11.4. Recent developments15.12. Volkswagen AG15.12.1. Company details15.12.2. Financial outlook15.12.3. Product summary15.12.4. Recent developments15.13. Volvo Penta15.13.1. Company details15.13.2. Financial outlook15.13.3. Product summary15.13.4. Recent developments15.14. Weichai Power Co. Ltd15.14.1. Company details15.14.2. Financial outlook15.14.3. Product summary15.14.4. Recent developments15.15. Yanmar Co. Ltd15.15.1. Company details15.15.2. Financial outlook15.15.3. Product summary15.15.4. Recent developments15.16. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Off-Highway Vehicle Engine Market is projected to reach USD 24.17 billion by 2033, growing at a CAGR of 7.34% during the forecast period.
Off-Highway Vehicle Engine Market grew in market size from 2023. The Market is expected to reach USD 24.17 billion by 2033, at a CAGR of 7.34% during the forecast period.
Off-Highway Vehicle Engine Market CAGR of 7.34% during the forecast period.
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Off-Highway Vehicle Engine Market size is USD 24.17 billion from 2023 to 2033.
Off-Highway Vehicle Engine Market Segment is Covered By Power Type, By Engine Capacity, By Fuel Type
The North America region is anticipated to have the highest market share in Off-Highway Vehicle Engine Market.
The primary goal of agricultural mechanisation is to boost production by making better use of natural resources.
The key players in the market include Companies Covered AGCO Corporation, Caterpillar Inc., Cummins Inc., Deere & Company, Deutz AG, Hitachi Construction Machinery Co. Ltd., JC Bamford Excavators Ltd., Komatsu Ltd, Kubota Corporation, Mahindra & Mahindra Limited (Mahindra Powertrain), Scania AB, Volkswagen AG, Volvo Penta, Weichai Power Co. Ltd, Yanmar Co. Ltd., Others
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