DUBLIN, July 13, 2022 /PRNewswire/ — The report “Off-Road Vehicle Engine Market Size, Share, Trends, By Power Type, By Engine Capacity, By Fuel Type, By Region To 2030” has been added to from ResearchAndMarkets.com offer.
The global off-road vehicle engine market size is expected to reach $80.13 billion in 2030 and record a revenue CAGR of 7.3% from 2020 to 2030, according to the latest report. The steady revenue growth of the off-road vehicle engine market is largely driven by the increase in agriculture. Rising demand for off-road vehicles in construction, mining and agricultural applications is expected to drive the market growth over the forecast period.
The construction industry accounted for a 40% share in 2018 and is expected to grow at a CAGR of 8.5% from 2020 to 2030 due to increased investment in infrastructure development. Also, rapid industrialization and urbanization across the globe is expected to propel the demand for off-road vehicles in construction applications during the forecast period.
The Asia Pacific region led the global market with a revenue share of 47% in 2018. Emerging economies of China and India are expected to experience significant growth due to strong economic development and industrialization. The European region is projected to experience a CAGR of 8.2% from 2020 to 2030 due to growing demand for modern agricultural practices such as precision farming and livestock management.
Factors such as increasing government expenditure for 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. Moreover, the replacement of the old fleet is also propelling the growth of this market. However, the strict emission standards imposed by the government bodies are hampering the growth of the market to some extent.
Some highlights of the report
- The construction and mining equipment segment is expected to grow at the highest CAGR during the forecast period. The main driver of market growth is the increased demand for more powerful engines in construction and mining vehicles, which has led manufacturers to come up with more powerful OHV engines.
- Automotive segment is expected to be the largest market during the forecast period. Automotive applications are estimated to hold the largest off-road vehicle engine market share in 2018, in terms of volume. The automotive segment includes passenger cars, light commercial vehicles and heavy commercial vehicles. The major growth drivers for the automotive segment include increased demand for light and heavy commercial vehicles, especially in the Asia Pacific and parts of North America.
For the purposes of this report, the publisher has segmented the off-road vehicle engine market based on horsepower type, engine capacity, fuel type and region:
Power Type Outlook
- Construction and Mining Equipment Engines
- Agricultural tractor engines
Engine Capacity Outlook
- 5l-10l engines
- >10l engines
Fuel Type Outlook
Main topics covered:
Chapter 1. Market Summary
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Off-Road Vehicle Engines Market Segmentation and Impact Analysis
4.1. Off-Road Vehicle Engines Market Segmentation Analysis
4.2. Industry outlook
4.2.1. Analysis of market indicators
4.2.2. Market Driver Analysis
184.108.40.206. Rapidly growing construction and agriculture industry across the world
220.127.116.11. Growing need to enable farmers to improve production and increase agricultural productivity
4.2.3. Analysis of market constraints
18.104.22.168. Increased purchase, maintenance and fuel costs
22.214.171.124. Concerns about high emissions from diesel engines
4.3. Technology Previews
4.4. Regulatory 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 mapping
4.10. COVID-19 Impact Analysis
4.11. Influence of the global recession
Chapter 5. Off-Road Vehicle Engine Market by Power Type Insights and Trends
5.1. Power type dynamics and market share, 2022 and 2030
5.2. Construction and Mining Equipment Engines
5.2.1. Market estimates and forecast, 2019 – 2030 (USD billion)
5.2.2. Market estimates & forecast, by region, 2019-2030 (USD Billion)
5.3. Agricultural tractor engines
5.3.1. Market estimates and forecast, 2019 – 2030 (USD billion)
5.3.2. Market estimates & forecast, by region, 2019-2030 (USD Billion)
Chapter 6. Off-Road Vehicle Engines Market Overview and Trends by Engine Capacity
Chapter 7. Off-Road Vehicle Engine Market by Fuel Type Insights and Trends
Chapter 8. Regional Outlook of the Off-Road Vehicle Engines Market
8.1. Off-road vehicle engine market share by region, 2022 & 2030
Chapter 9. Competitive Landscape
9.1. Market revenue share by manufacturers
9.2. Manufacturing Cost Allocation Analysis
9.3. Mergers and Acquisitions
9.4. Market positioning
9.5. Strategy Benchmarking
9.6. Supplier Landscape
Chapter 10. Business Profiles
- Caterpillar inc.
- Cummins inc.
- Deere & Company
- JC Bamford Excavators Ltd.
- Mahindra & Mahindra Ltd.
- AB Volvo
- KUBOTA Company
- Volkswagen AG
- Hitachi Construction Machinery Co.Ltd.
- Komatsu Ltd
For more information about this report visit https://www.researchandmarkets.com/r/kduny1
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