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Worldwide Off Highway Vehicle Engine Industry 2022 to 2027: Rising Agricultural Mechanization and Thriving Agriculture Sector Drives Growth

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Global Off Highway Vehicle Engine Market

Global Off Highway Vehicle Engine Market
Global Off Highway Vehicle Engine Market

Dublin, Feb. 02, 2023 (GLOBE NEWSWIRE) -- The "Off Highway Vehicle Engine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global off highway vehicle engine market reached a value of US$ 37.59 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 54.12 Billion by 2027, exhibiting a CAGR of 6.26% during 2021-2027.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

An off highway vehicle (OHV) is a motor vehicle not intended to be driven or moved on a public highway. It includes all-terrain vehicles (ATVs), four-wheelers, three-wheelers, motorcycles, dirt and trail bikes, and snowmobiles. It has flexible suspension, caterpillar tracks, and large tires with deep treads.

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In recent years, automotive manufacturers have worked to improve OHV engine designs to minimize the emission of pollutants using techniques, such as direct fuel injection, variable valve timing, combustion chamber mixing, and exhaust gas recycling. These methods help improve the efficiency of combustion, which lowers pollutant generation and offers energy efficiency.

Off Highway Vehicle Engine Market Trends:

With the rising agricultural mechanization, the production, distribution, and utilization of agricultural machinery is increasing in the development of agricultural land, planting, harvesting, and primary processing. This, in confluence with the thriving agriculture sector, represents one of the key actors propelling the growth of the market.

Moreover, there is a rise in the use of forklift trucks, which are generally powered by petrol and diesel engines for transporting heavy building materials across rough terrain. Besides this, load haul dump (LHD) machines are increasingly being utilized in underground environments like mines to load and transport ore and minerals. This, coupled with increasing mining activities around the world, is creating a positive outlook for the market.

Apart from this, ATVs find extensive applications in border patrol and security, construction operations, emergency medical response, search and rescue, law enforcement, land management and surveying, military operations, and mineral and oil exploration. This, along with the rising electrification of OHVs on account of benefits, such as clean air, efficiency, and safety, is strengthening the market growth.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being AB Volvo, AGCO Corporation, Caterpillar Inc., Cummins Inc., Deere & Company, Deutz AG, Hitachi Construction Machinery Co. Ltd. (Hitachi Ltd.), J C Bamford Excavators Ltd., Komatsu Ltd., KUBOTA Corporation, Mahindra & Mahindra Ltd., Weichai Power Co. Ltd and Yanmar Holdings Co. Ltd.

Key Questions Answered in This Report:

  • How has the global off highway vehicle engine market performed so far and how will it perform in the coming years?

  • What has been the impact of COVID-19 on the global off highway vehicle engine market?

  • What are the key regional markets?

  • What is the breakup of the market based on the power output?

  • What is the breakup of the market based on the engine capacity?

  • What is the breakup of the market based on the fuel type?

  • What are the various stages in the value chain of the industry?

  • What are the key driving factors and challenges in the industry?

  • What is the structure of the global off highway vehicle engine market and who are the key players?

  • What is the degree of competition in the industry?

Report Attribute

Details

No. of Pages

143

Forecast Period

2021 - 2027

Estimated Market Value (USD) in 2021

$37.59 Billion

Forecasted Market Value (USD) by 2027

$54.12 Billion

Compound Annual Growth Rate

6.2%

Regions Covered

Global

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Off Highway Vehicle Engine Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 Market Breakup by Power Output
6.1 Agricultural Machinery
6.1.1 Market Trends
6.1.2 Key Segments
6.1.2.1 Upto 30 HP
6.1.2.2 31-50 HP
6.1.2.3 51-80 HP
6.1.2.4 81-140 HP
6.1.2.5 140+ HP
6.1.3 Market Forecast
6.2 Construction Machinery
6.2.1 Market Trends
6.2.2 Key Segments
6.2.2.1 Upto 100 HP
6.2.2.2 101-200 HP
6.2.2.3 201-400 HP
6.2.2.4 400+ HP
6.2.3 Market Forecast

7 Market Breakup by Engine Capacity
7.1 < 5L Capacity
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 5L-10L Capacity
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 >10L Capacity
7.3.1 Market Trends
7.3.2 Market Forecast

8 Market Breakup by Fuel Type
8.1 Diesel
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Gasoline
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Others
8.3.1 Market Trends
8.3.2 Market Forecast

9 Market Breakup by Region

10 SWOT Analysis

11 Value Chain Analysis

12 Porters Five Forces Analysis

13 Price Analysis

14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 AB Volvo
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 AGCO Corporation
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 Caterpillar Inc.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.3.4 SWOT Analysis
14.3.4 Cummins Inc.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Deere & Company
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 Deutz AG
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Hitachi Construction Machinery Co. Ltd. (Hitachi Ltd.)
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 J C Bamford Excavators Ltd.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Komatsu Ltd.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 KUBOTA Corporation
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 Mahindra & Mahindra Ltd.
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 Weichai Power Co. Ltd
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
14.3.13 Yanmar Holdings Co. Ltd.
14.3.13.1 Company Overview
14.3.13.2 Product Portfolio

For more information about this report visit https://www.researchandmarkets.com/r/4betse-highway?w=12

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