An off-road vehicle is considered to be any type of vehicle which is capable of driving on and off paved or gravel surface. It is generally characterized by having large tires with deep, open treads, a flexible suspension, or even caterpillar tracks. Other vehicles that do not travel public streets or highways are generally termed off-highway vehicles, including tractors, forklifts, cranes, backhoes, bulldozers, and golf carts. Off Highway Vehicle Engine is the engine specifically designed for off road vehicle.
In the coming years there is an increasing demand for off-highway vehicle engine in the regions of North America and Europe that is expected to drive the market for more advanced off-highway vehicle engine. Growth in government budgets in the principal countries, increasing of construction fields expenditures, more-intense competition, launches in introducing new products, increasing of spending on agricultural machinery, retrofitting and renovation of old technology, increasing adoption of off-highway vehicle engine will drive growth in North America and Europe markets.
Globally, the off-highway vehicle engine industry market is low concentrated as the manufacturing technology of off-highway vehicle engine is relatively matures than some high-tech equipment. And some enterprises, like Cummins, Caterpillar, MAN, etc. are well-known for the wonderful performance of their off-highway vehicle engine and related services. At the same time, North America, occupied about 27% revenue market share in 2016, is remarkable in the global off-highway vehicle engine industry because of their market share and technology status of off-highway vehicle engine.
The consumption volume of off-highway vehicle engine is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of off-highway vehicle engine industry may not keep that fast. But it is surely forecasted that the market of off-highway vehicle engine is still promising.
The report offers detailed coverage of Off Highway Vehicle Engine industry and main market trends. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading Off Highway Vehicle Engine by geography. The report splits the market size, by volume and value, on the basis of application type and geography.
The report forecast global Off Highway Vehicle Engine market to grow to reach xxx Million USD in 2020 with a CAGR of xx% during the period 2021-2025.
First, this report covers the present status and the future prospects of the global Off Highway Vehicle Engine market for 2015-2025.
And in this report, we analyze global market from 5 geographies: Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia], Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland], North America[United States, Canada, Mexico], Middle East & Africa[GCC, North Africa, South Africa], South America[Brazil, Argentina, Columbia, Chile, Peru].
Key Companies
Cummins
Caterpillar
Kubota
MAN
Volvo Penta
FPT
Yanmar
Deutz
Yuchai
Deere
Weichai Power
Yunnei Power
Mitsubishi
Isuzu
Lombardini
Quanchai
At the same time, we classify Off Highway Vehicle Engine according to the type, application by geography. More importantly, the report includes major countries market based on the type and application.
Market Segment as follows:
Market by Order Type
Under 50 Hp
50-100 Hp
Above 100 Hp
Market by Application
Construction Machinery
Agricultural Machinery
Others
By Region
Asia-Pacific[China, Southeast Asia, India, Japan, Korea, Western Asia]
Europe[Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
North America[United States, Canada, Mexico]
Middle East & Africa[GCC, North Africa, South Africa]
South America[Brazil, Argentina, Columbia, Chile, Peru]
The research provides answers to the following key questions:
• What is the estimated growth rate and market share and size of the Off Highway Vehicle Engine market for the forecast period 2021 - 2025?
• What are the driving forces in the Off Highway Vehicle Engine market for the forecast period 2021 - 2025?
• Who are the prominent market players and how have they gained a competitive edge over other competitors?
• What are the market trends influencing the progress of the Off Highway Vehicle Engine industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the market hold for the prominent market players?