Off-Highway Vehicle Engine Market is expected to grow at a robust CAGR
Global Off-Highway Vehicle Engine Market is expected to grow owing to increasing
agricultural activities to meet rising food demands for growing populations throughout
the forecast period.
According to TechSci Research report, “Off-Highway Vehicle Engine Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast 2018-2028”, the Global Off-Highway
Vehicle Engine Market is expected to register robust growth during the
forecast period. The escalating requirement and desire for
food have led to a higher adoption of mechanical equipment in agriculture,
including tractors, harvesters, and crop sprayers. Additionally, the expanding
demand from developed nations has been instrumental in bolstering the
off-highway vehicle engine market.
The trend towards electrification and hybridization of off-highway
vehicle engines presents a substantial opportunity. With the increasing
environmental concerns and stricter emissions regulations, manufacturers have
the chance to explore the development of electric and hybrid engines. These
technologies offer potential benefits such as reduced emissions, improved fuel
efficiency, and quieter operation. Moreover, there is a growing interest in
electric off-highway equipment for indoor and urban construction projects,
driven by the advantages of zero emissions and lower noise levels.
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in-depth TOC on the "Global Off-Highway Vehicle Engine Market."
Based on engine capacity, the
5l-10l Engines segment is expected to dominate the market during the forecast
period. The demand for medium-sized engines is globally distributed, with
regions like North America, Europe, and Asia-Pacific driving sales due to their
diverse industries and applications. There is a growing interest in alternative
fuels, such as natural gas and biofuels, within this segment. Engines within
this power range find application in various industrial sectors, including
generators, compressors, and pumps, where reliability and versatility are
highly valued. Forklifts and telescopic handlers also make use of engines in
this segment to ensure efficient material handling in warehouses, construction
sites, and logistics centers. These fuels offer reduced emissions and
environmental benefits, presenting an opportunity for manufacturers to provide
customized engines and solutions tailored to the specific needs of diverse
applications, thereby enhancing customer satisfaction. Furthermore, as emerging
markets continue to witness infrastructure development and industrialization,
there is an opportunity for manufacturers to expand their presence and cater to
the growing demand for medium-sized off-highway engines. In conclusion, the
5-liter to 10-liter segment of the global off-highway vehicle engine market is
a dynamic and versatile category that offers manufacturers opportunities for
innovation and to meet the diverse needs of industries such as construction,
agriculture, industrial, and material handling. With the increasing focus on
sustainability and efficiency, engines in this segment are expected to evolve
to meet stricter emissions standards and customer demands.
Based on fuel type, the Diesel segment is projected to dominate the
market throughout the forecast period.
The diesel segment encompasses off-highway vehicle engines that are
fueled by diesel, serving a wide range of applications with essential power and
reliability. In demanding and remote mining environments, diesel engines play a
crucial role in mining equipment such as haul trucks, dozers, and underground
machinery. They are also extensively used in industrial applications like
generators, compressors, pumps, and material handling equipment, where high
torque and reliability are paramount. Renowned for their robustness and
longevity, diesel engines contribute to reduced maintenance costs and downtime
for off-highway equipment. To meet stringent emissions regulations, the diesel
segment is adopting advanced technologies such as selective catalytic reduction
(SCR), diesel particulate filters (DPF), and exhaust gas recirculation (EGR).
Additionally, some diesel engines can operate on alternative fuels like
biodiesel, offering opportunities to lower carbon emissions and promote
sustainability. In summary, the diesel segment of the global off-highway
vehicle engine market maintains its significance, owing to its well-established
reputation for power, durability, and efficiency.
Key market players in the Global Off-Highway Vehicle Engine Market are:-
- Caterpillar, Inc.
- Cummins, Inc.
- Deere & Company
- J C Bamford Excavators Ltd.
- Mahindra & Mahindra Ltd.
- Scania AB
- KUBOTA Corporation
- Volkswagen AG
- Hitachi Construction Machinery Co., Ltd.
- Komatsu Ltd.
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“The Off-Highway Vehicle Engine Market in North America is poised to be
the dominant force in the industry. The region's ambitious infrastructure
development projects, including China's Belt and Road Initiative and India's
infrastructure expansion, serve as significant catalysts for the off-highway
vehicle engine market. These projects necessitate a diverse range of heavy
machinery, powered by off-highway engines, for construction, earthmoving, and material
handling purposes.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Off-Highway Vehicle Engine Market – Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018-2028 Segmented By Construction &
Mining Equipment Engines Power Output (<100 HP, 101-200 HP, 201-400 HP and
>400 HP), By Agriculture Tractor Engines Power Output (<30 HP, 31-50 HP,
51-80 HP, 81-140 HP and >140 HP), By Engine Capacity (<5l Engines, 5l-10l
Engines and >10l Engines), By Fuel Type (Diesel, Gasoline and Others), By
Region, and By Competition,” has evaluated the
future growth potential of Global Off-Highway Vehicle Engine Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Off-Highway Vehicle Engine Market.
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