Off-road Vehicle Engines Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The Global Off-Road Vehicle Engine Market Size Is Expected To Grow At A CAGR Of 2.2% During The Forecast Period 2022 To 2030.
Off-road Vehicle Engines Market Overview:
Off-road vehicle engines are engines designed for a wide range of applications, including construction and agricultural machinery. Apart from this, these types of engines are also used in the manufacture of other equipment such as motorcycles or lawn mowers. This type of engine is often installed in off-road vehicles built for ruggedness and aggressive use. Off-road vehicles can travel on a variety of terrains that traditional cars cannot handle, such as mud, sand and rocks.
Off-road Vehicle Engines market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Off-road Vehicle Engines market in detail. Regional market sizes related to products by type, by application, and by the player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In April 2021, JCB launched 45 new or improved machines in its first major product launch for 2021. The new product launch is aimed at diesel engines that comply with EU Stage V emission standards.
- In February 2021, Kohler released its Kohler KDI 3404TCR SCR engine, a four-stroke inline diesel engine with high-pressure injection and a turbocharger.
Major Segments Covered in the Global Off-road Vehicle Engines Market:
Market Key Players:
Cummins, Caterpillar, Kubota, MAN, VolvoÂ PentaÂ , FPT, Yanmar, Deutz, Yuchai, Deere, WeichaiÂ Power, YunneiÂ Power, Mitsubishi, Isuzu, Lombardini, Quanchai., And Others.
Off-road Vehicle Engines Market by Types:
- Under 50 Hp
- 50-100 Hp
- Above 100 Hp
Off-road Vehicle Engines Market by Applications:
- Construction Machinery
- Agricultural Machinery
Off-road Vehicle Engines Market by Regions:
The report estimates revenue growth at the worldwide, regional, and country levels and delivers an analysis of the recent industry trends in each sub-segment from 2017 to 2030.
North America is expected to be one of the key markets for off-road vehicle engines. The region's oil and gas industry is booming, creating demand for new products that require powerful engine technology to operate efficiently. Canada and Mexico are expected to witness substantial growth rates in the future owing to increasing demand for off-road vehicles in agriculture, industrial applications, and construction activities coupled with growing end-user industries such as mining & quarrying, and forestry. The U.S. off-road vehicle engine market is driven by several factors such as increasing demand for off-road vehicles in Latin American countries such as Brazil, Argentina, and rising construction activities and infrastructure development projects in major economies such as Mexico, Peru, etc. ; is expected to drive growth in the coming years. Moreover, farmers have high preference for rugged engine-driven equipment; especially corn growers to overcome soil challenges during planting season is expected to drive the demand for off-road vehicles over the forecast period. The high growth rate of the off-road vehicle engine market in Europe can be attributed to the increasing use of engine off-road vehicles in construction activities in various applications such as agriculture, infrastructure, and oil & gas. Moreover, rising demand from the military segment along with rising armed conflicts is also expected to boost the market, thereby further strengthening the economy across the European region, which will ultimately contribute to the surge in OVA sales.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
The major factors driving the growth of the global off-road vehicle engine market include increasing construction and mining activities in various regions such as Europe, China, India, growing demand for vehicles with zero-emission technologies that enable efficient use of natural resources, and high fuel efficiency The resulting low maintenance costs, rising consumer awareness of environmentally friendly products and other factors.
Report Scope of Global Off-road Vehicle Engines Market:
CAGR of 2.2% from 2022 to 2030.
Under 50 Hp, 50-100 Hp, Above 100 Hp,
Construction Machinery, Agricultural Machinery, Other
Cummins, Caterpillar, Kubota, MAN, VolvoÂ PentaÂ , FPT, Yanmar, Deutz, Yuchai, Deere, WeichaiÂ Power, YunneiÂ Power, Mitsubishi, Isuzu, Lombardini, Quanchai.
Regions and Countries Covered
2017 to 2022
2023 to 2030
Points Covered in the Report
- The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
- The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Frequently Asked Questions-
What is the CAGR of Off-road Vehicle Engines market?
The Off-road Vehicle Engines Market is growing at a CAGR of 2.2% During Forecast Period.
What are the key types and applications of Off-road Vehicle Engines market?
- Under 50 Hp, 50-100 Hp, Above 100 Hp,
- Construction Machinery, Agricultural Machinery, Other
Who are the key players in Off-road Vehicle Engines market?
Cummins, Caterpillar, Kubota, MAN, VolvoÂ PentaÂ , FPT, Yanmar, Deutz, Yuchai, Deere, WeichaiÂ Power, YunneiÂ Power, Mitsubishi, Isuzu, Lombardini, Quanchai., And others.
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Note – In order to provide a more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.