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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. Over the next five years, Off Highway Vehicle Engine will register a 2.6% CAGR in terms of revenue, reach US$ 13500 million by 2023, from US$ 11900 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Off Highway Vehicle Engine market by product type, application, key manufacturers and key regions.
To calculate the market size, value and volume generated from the sales of the following segments:
Segmentation by product type: Under 50 Hp 50-100 Hp Above 100 Hp Segmentation by application: Construction Machinery Agricultural Machinery Others
This report also splits the market by region: Americas United States Canada Mexico Brazil APAC China Japan Korea Southeast Asia India Australia Europe Germany France UK Italy Russia Spain Middle East & Africa Egypt South Africa Israel Turkey GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Cummins Caterpillar Kubota MAN Volvo Penta FPT Yanmar Deutz Yuchai Deere Weichai Power Yunnei Power Mitsubishi Isuzu Lombardini Quanchai
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives To study and analyze the global Off Highway Vehicle Engine consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023. To understand the structure of Off Highway Vehicle Engine market by identifying its various subsegments. Focuses on the key global Off Highway Vehicle Engine manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years. To analyze the Off Highway Vehicle Engine with respect to individual growth trends, future prospects, and their contribution to the total market. To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks). To project the consumption of Off Highway Vehicle Engine submarkets, with respect to key regions (along with their respective key countries). To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market. To strategically profile the key players and comprehensively analyze their growth strategies.
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