All-Terrain Vehicle Engine Market is Expected to Reach USD 69.03 Billion in 2028

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Reports and data

Off-Road Vehicle Engines Market Size – USD 39.14 Billion in 2020, Market Growth – at a CAGR of 7.3%, Market Trends – Mining Sector Growth

NEW YORK, NY, USA, Feb. 18, 2022 /EINPresswire.com/ — Rising Agricultural Automation and Rising Construction Activities Drive Revenue Growth of All-Terrain Vehicle Engines Market

According to the latest report by Reports and Data, the global off-road vehicle engine market size is expected to reach USD 69.03 billion by 2028 and register a revenue CAGR of 7.3% over the forecast period. The steady growth in off-road vehicle engine market revenue is largely driven by increased farm automation and rising construction activity. Off-road engines are designed for vehicles intended to operate in rough terrain or for off-road operations, such as construction, mining, and agriculture.

Factors such as increased government spending in the agriculture, construction and mining sectors in countries like China and India, increasing market competition and the introduction of new products contribute to the market revenue growth. However, strict government standards against vehicle emissions and pollution issues are hampering the market revenue growth over the forecast period.

Companies profiled in the global market report include Caterpillar Inc., Cummins Inc., MTU Friedrichshafen GmbH, Deere & Company, Kubota Corporation, Deutz AG, Scania AB, Weichai Power Co. Ltd., Volvo CE, Yanmar Co. Ltd. .

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Some highlights of the report

• Construction and mining equipment with 101 to 200 HP is widely preferred by off-road vehicle users. The current surge in road development activities, especially in developing countries, has increased the demand for motor graders and this is expected to increase further during the forecast period. Motor graders with engine power between 140 HP and 200 HP are in high demand, as they can be used to create fine, smoother surfaces, level the ground and move small amounts of dirt.
• Agricultural tractor engines with a displacement of 5 to 10 L are highly demanded by farmers for various agricultural applications. The growth is due to the majority of agricultural tractors using 5L engines for plowing and cultivating the soil. These tractors can also be used for multiple tasks, such as removing shrubbery, spreading/moving fertilizer, landscaping, and lawn maintenance.
• The off-road vehicle engine market in Asia-Pacific accounted for the largest revenue share in 2020. The Chinese market for tractors and other types of construction equipment is expected to grow at a faster rate during the forecast period and the main reason for this growth is the expenditure incurred on the local infrastructure projects. Countries in the region such as China, India, and Singapore are constructing metros, bridges, and other urban transportation infrastructure, which, in turn, is supporting the growth of the market.
• The off-road vehicle engine market in Europe is expected to grow at a faster rate in terms of revenue share over the forecast period. The increase in commercial construction activities and the growing use of heavy agricultural machinery are attributed to the growing market revenue in Europe.

For the purposes of this report, Reports and Data has segmented the off-road vehicle engine market on the basis of horsepower type, engine capacity, fuel type and region:

Energy Type Outlook (Revenue, USD Million; 2018-2028)

• Construction and mining equipment engines

o Motors o 101-200 HP engines
o 201-400 HP engines
o Motors >400 HP

• Agricultural tractor engines

o Motors o 31-50 HP motors
o 51-80 HP engines
o Engines from 81 to 140 HP
o Engines >140 HP

Engine Capacity Outlook (Revenue, USD Million; 2018-2028)

• Construction and mining equipment engines
• Agricultural tractor engines

Fuel Type Outlook (Revenue, USD Million; 2018-2028)

• Gasoline
• Diesel
• Other fuels

Regional Outlook (Revenue, USD Million; 2018-2028)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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