Global Off Highway Vehicle Engine Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Off highway vehicle engine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global off highway vehicle engine market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
An Off Highway Vehicle (OHV) Engine is a specialized internal combustion engine designed for non-road or off-highway applications. It is known for its robustness, durability, and versatility. It is produced to withstand harsh operating conditions, such as rough terrains, extreme temperatures, and dusty environments, which makes them suitable for challenging off-road applications. It is generally air-cooled or liquid-cooled, which depends on the specific requirements of the equipment it power. It is specifically engineered to power various vehicles and equipment in multiple industries, including agriculture, construction, mining, forestry, and recreational activities.
The global off highway vehicle engine market size reached US$ 40.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 56.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.7% during 2023-2028.
Global Off Highway Vehicle Engine Market Trends and Drivers:
OHV engines are used in construction equipment such as excavators, bulldozers, wheel loaders, and backhoes for tasks like digging grading, and material handling. Along with this, the increasing construction activities in commercial and industrial areas represent one of the primary factors strengthening the market growth around the world. Moreover, the rising adoption of OHV engines to power agricultural machinery, including tractors, combines, harvesters, and irrigation pumps, for planting, cultivating, harvesting, and irrigation tasks is favoring the growth of the market. Apart from this, the growing usage of OHV engines in landscaping and groundskeeping equipment, including lawn mowers, garden tractors, and turf maintenance vehicles, is influencing the market positively.
Global Off Highway Vehicle Engine Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: AB Volvo, AGCO Corporation, Caterpillar Inc., Cummins Inc., Deere & Company, Deutz AG, Hitachi Construction Machinery Co. Ltd. (Hitachi Ltd.), J C Bamford Excavators Ltd., Komatsu Ltd., KUBOTA Corporation, Mahindra & Mahindra Ltd., Weichai Power Co. Ltd and Yanmar Holdings Co. Ltd.
The report segmented the market on the basis of region, power output, engine capacity and fuel type.
Breakup by Power Output:
- Agricultural Machinery
- Upto 30 HP
- 31-50 HP
- 51-80 HP
- 81-140 HP
- 140+ HP
- Construction Machinery
- Upto 100 HP
- 101-200 HP
- 201-400 HP
- 400+ HP
Breakup by Engine Capacity:
- <5L Capacity
- 5L-10L Capacity
- >10L Capacity
Breakup by Fuel Type:
- Diesel
- Gasoline
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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