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Global Off-Highway Vehicle Engine Market Share, Report, Analysis, Outlook, Forecast: By Power Output: Construction Machinery, Agriculture Machinery; By Fuel Type: Diesel, Gasoline, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand and Price; Competitive Landscape; 2023-2028
Global Off-Highway Vehicle Engine Market Outlook
The global off-highway vehicle engine market size is expected to grow at a CAGR of 7.30% between 2023 and 2028. The major market drivers include increasing demand for off-highway vehicles, and thriving construction and agricultural sectors.
Key Trends in the Market
An off-highway vehicle engine is a vehicle engine that can be used to power off-highway vehicles that are designed to traverse uneven and steep grounds such as those in construction or agricultural settings. They require more power than a regular engine vehicle and are typically powered by diesel or gasoline.
- Growth in infrastructure activities and rapid urbanisation in both residential as well as non-residential sectors along with industrial sector has boosted the demand for construction machinery, thereby fuelling the growth of the off-highway vehicle engine market. Due to the uneven terrain encountered, off-highway vehicles are commonly used in these sectors.
- Increasing agricultural activities to meet rising food demands for growing populations and surging adoption of agricultural machinery equipment supported by various governments are bolstering the demand for robust off-highway vehicle engines.
- Rising research and development activities are aimed at developing sophisticated off-highway vehicle engine machinery. These activities are expected to contribute towards decrease in the production costs and thereby increase the overall productivity.
Market Analysis
Based on power output, the market is bifurcated into construction machinery and agriculture machinery. Construction machinery is further divided by type into up to 100 HP, 100-120 HP, 200-400 HP, and 400+ HP. Meanwhile, agriculture machinery is sub-divided by type into up to 30 HP, 30-50 HP, 50-70 HP, and 70+ HP. By fuel type, the market is segmented into diesel, and gasoline, among others. On the basis of region, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global off-highway vehicle engine market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Yanmar Holdings Co., Ltd.
- Cummins Inc
- Deutz AG
- Komatsu America Corp.
- Volvo Group
- Others
Market Share by Fuel Type
Diesel is expected to account for a sizable share of the off-highway vehicle engine market owing to advantages associated with its utilisation such as easy refuelling and powerful performance. It is a high-power density fuel which is witnessing increasing demands from such vehicles and the low cost of diesel has further boosted its demand in the market. Advanced capabilities of diesel engines to convert fuel energy to mechanical energy as compared to gasoline engines is further propelling the growth of the market.
Market Share by Region
The Asia Pacific is anticipated to witness significant growth in the off-highway vehicle engine market over the coming years, supported by increasing construction and agricultural activities in countries in the region. In countries such as China and India, the large populations are increasing the demand for agricultural output, leading to increased adoption of agricultural machinery, including off-highway vehicle engines. Growing demand for heavy-duty off-highway vehicles in agriculture and increasing investments towards infrastructure development are expected to aid the market growth of off-highway vehicle engines in the Asia Pacific.
Competitive Landscape
Yanmar Holdings Co. Ltd. is an agricultural machinery company that manufactures and markets diesel engines, agricultural machinery, and heavy machinery. Headquartered in Osaka, Japan, and founded in 1912, the company produces construction machinery and other mechanical products as well.
Cummins Inc. was established in 1919 and is headquartered in Indiana in the United States. A multinational company, Cummins designs, manufactures, and supplies filtration products, hybrid engines, and engine products as well as designing power generation products and components.
Deutz AG was founded in 1864 and is based in Cologne, Germany. A motor and generator company, Deutz AG manufactures internal combustion engines, gas and electric drivetrains, and diesel-powered products that are of high quality and environment friendly.
Other market players include Komatsu America Corp., and Volvo Group, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Power Output |
|
| Breakup by Fuel Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Off-Highway Vehicle Engine Market Analysis
8.1 Key Industry Highlights
8.2 Global Off-Highway Vehicle Engine Historical Market (2018-2022)
8.3 Global Off-Highway Vehicle Engine Market Forecast (2023-2028)
8.4 Global Off-Highway Vehicle Engine Market by Power Output
8.4.1 Construction Machinery
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.1.4 Break up by Type
8.4.1.4.1 Up To 100 HP
8.4.1.4.2 100-120 HP
8.4.1.4.3 200-400 HP
8.4.1.4.4 400+ HP
8.4.2 Agriculture Machinery
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.2.4 Break up by Type
8.4.2.4.1 Up To 30 HP
8.4.2.4.2 30-50 HP
8.4.2.4.3 50-70 HP
8.4.2.4.4 70+ HP
8.5 Global Off-Highway Vehicle Engine Market by Fuel Type
8.5.1 Diesel
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Gasoline
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Others
8.6 Global Off-Highway Vehicle Engine Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
9 North America Off-Highway Vehicle Engine Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Off-Highway Vehicle Engine Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Off-Highway Vehicle Engine Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Off-Highway Vehicle Engine Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Off-Highway Vehicle Engine Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Yanmar Holdings Co., Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Cummins Inc
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Deutz AG
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Komatsu America Corp.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Volvo Group
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Industry Events and Developments
List of Key Figures and Tables
1. Global Off-Highway Vehicle Engine Market: Key Industry Highlights, 2018 and 2028
2. Global Off-Highway Vehicle Engine Historical Market: Breakup by Power Output (USD Million), 2018-2022
3. Global Off-Highway Vehicle Engine Market Forecast: Breakup by Power Output (USD Million), 2023-2028
4. Global Off-Highway Vehicle Engine Historical Market: Breakup by Fuel Type (USD Million), 2018-2022
5. Global Off-Highway Vehicle Engine Market Forecast: Breakup by Fuel Type (USD Million), 2023-2028
6. Global Off-Highway Vehicle Engine Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Off-Highway Vehicle Engine Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Off-Highway Vehicle Engine Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Off-Highway Vehicle Engine Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Off-Highway Vehicle Engine Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Off-Highway Vehicle Engine Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Off-Highway Vehicle Engine Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Off-Highway Vehicle Engine Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Off-Highway Vehicle Engine Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Off-Highway Vehicle Engine Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Off-Highway Vehicle Engine Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Off-Highway Vehicle Engine Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Off-Highway Vehicle Engine Market Structure
Key Questions Answered in the Report
The market is expected to grow at a CAGR of 7.30% between 2023 and 2028.
The major market drivers include increasing demand for off-highway vehicles, thriving construction sector, and rising mechanisation in agriculture.
The key trends of the market include technological advancements, rising infrastructural development, and growing investments in research and development by market players.
Off-highway vehicle engines are engines manufactured for vehicles that are to be used on steep or uneven ground.
The primary power outputs in the market for off-highway vehicle engines are construction machinery and agriculture machinery.
The different regions in the market for off-highway vehicle engines are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant fuel types of off-highway vehicle engines in the market are diesel, and gasoline, among others.
The key players in the off-highway vehicle engine market, according to the report, are Yanmar Holdings Co., Ltd., Cummins Inc, Deutz AG, Komatsu America Corp., and Volvo Group, among others.
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