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Off-highway Engine Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Published By :

Transparency Market Research

Category :

Machines

Off-highway engine is a machine designed to convert one form of energy into mechanical energy and is used in off-road vehicles. Heat engines burn fuel to create heat that is then used to power vehicles. Off-road vehicles are a type of vehicle that are capable of driving on and off tiled or pebbly surfaces. They are generally characterized as having large tires with deep, open treads, and a flexible suspension. The most common use of these vehicles is for exploration in areas distant from asphalt roads. The use of higher clearance and higher power vehicles enables access to trails and forest roads that have rough and low traction surfaces.

Increase in demand and production of off-road vehicles is projected to boost the off-highway engine market during the forecast period. Demand for all-terrain vehicles (ATVs) is increasing due to their suitability for activities such as trekking and travelling in the exploration area. Moreover, a rise in automation in various industries such as agriculture, construction, mining, infrastructure and others has increased the use of off-road vehicles in these sectors. However, high cost and maintenance expenditure are anticipated to significantly restrain the off-highway engine market. Regulatory bodies are imposing rigorous norms globally to reduce carbon emissions from automobiles. Off-highway Engines can be modified to reduce carbon emissions from vehicles. This is estimated to drive the off-highway engine market.

The off-highway engine market can be segmented based on fuel type, end-use industry, engine capacity, and geography.

Off-highway engines primarily use two kinds of fuel: petrol and diesel. Based on fuel type the off-highway engine market can be classified into petrol engine and diesel engine. Both kinds of fuel are used in IC (Internal Combustion) engines to generate mechanical energy.

Off-highway engines have applications in various sectors such as agriculture, construction, infrastructure, mining, and all-terrain vehicles. Farm tractors and load-carrying (crop carrying) vehicles are some off-highway vehicles used in agriculture. Excavators and stone crushers are some off-highway vehicles used in construction and infrastructure. Quads, quad bikes, and RZR are types of all-terrain vehicles.

Based on engine capacity, off-highway vehicles can be categorized into less than 5L, 5L to 10L, and more than 10L. Capacity is measured by the volume of engine bore, in which the heating of fuel takes place. Heavy-duty vehicles possess higher capacity engines for improved performance of the vehicle.

In terms of geography, the off-highway engine market can be segmented into North America, Europe, Asia Pacific, and Rest of the World (ROW). Asia Pacific accounts for a prominent share of the global off-highway engine market, owing to the high adoption rate of off-highway vehicles and the booming automotive sector leading to an increased production of off-highway engines, especially in China and India.

Some of the key players operating in the global off-highway engine market are Caterpillar Inc., Cummins Inc., Deutz AG, Kubota Corporation, J. C. Bamford Excavators Ltd., Deere and Company, Hitachi Construction Machinery Co. Ltd., AGCO Corporation, Mahindra and Mahindra Ltd., and Massey Ferguson Ltd.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
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The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

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  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
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