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PUBLISHER: IMARC | PRODUCT CODE: 1521235
PUBLISHER: IMARC | PRODUCT CODE: 1521235
Off Highway Vehicle Engine Market Report by Power Output (Agricultural Machinery, Construction Machinery), Engine Capacity (<5L Capacity, 5L-10L Capacity, >10L Capacity), Fuel Type (Diesel, Gasoline, and Others), and Region 2024-2032
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The global off highway vehicle engine market size reached US$ 42.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 67.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.1% during 2024-2032.
An off highway vehicle (OHV) is a motor vehicle not intended to be driven or moved on a public highway. It includes all-terrain vehicles (ATVs), four-wheelers, three-wheelers, motorcycles, dirt and trail bikes, and snowmobiles. It has flexible suspension, caterpillar tracks, and large tires with deep treads. In recent years, automotive manufacturers have worked to improve OHV engine designs to minimize the emission of pollutants using techniques, such as direct fuel injection, variable valve timing, combustion chamber mixing, and exhaust gas recycling. These methods help improve the efficiency of combustion, which lowers pollutant generation and offers energy efficiency.
Off Highway Vehicle Engine Market Trends:
With the rising agricultural mechanization, the production, distribution, and utilization of agricultural machinery is increasing in the development of agricultural land, planting, harvesting, and primary processing. This, in confluence with the thriving agriculture sector, represents one of the key actors propelling the growth of the market. Moreover, there is a rise in the use of forklift trucks, which are generally powered by petrol and diesel engines for transporting heavy building materials across rough terrain. Besides this, load haul dump (LHD) machines are increasingly being utilized in underground environments like mines to load and transport ore and minerals. This, coupled with increasing mining activities around the world, is creating a positive outlook for the market. Apart from this, ATVs find extensive applications in border patrol and security, construction operations, emergency medical response, search and rescue, law enforcement, land management and surveying, military operations, and mineral and oil exploration. This, along with the rising electrification of OHVs on account of benefits, such as clean air, efficiency, and safety, is strengthening the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global off highway vehicle engine market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on 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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Key Questions Answered in This Report:
- How has the global off highway vehicle engine market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global off highway vehicle engine market?
- What are the key regional markets?
- What is the breakup of the market based on the power output?
- What is the breakup of the market based on the engine capacity?
- What is the breakup of the market based on the fuel type?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global off highway vehicle engine market and who are the key players?
- What is the degree of competition in the industry?
Product Code: SR112024A5800
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Off Highway Vehicle Engine Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Power Output
- 6.1 Agricultural Machinery
- 6.1.1 Market Trends
- 6.1.2 Key Segments
- 6.1.2.1 Upto 30 HP
- 6.1.2.2 31-50 HP
- 6.1.2.3 51-80 HP
- 6.1.2.4 81-140 HP
- 6.1.2.5 140+ HP
- 6.1.3 Market Forecast
- 6.2 Construction Machinery
- 6.2.1 Market Trends
- 6.2.2 Key Segments
- 6.2.2.1 Upto 100 HP
- 6.2.2.2 101-200 HP
- 6.2.2.3 201-400 HP
- 6.2.2.4 400+ HP
- 6.2.3 Market Forecast
7 Market Breakup by Engine Capacity
- 7.1 <5L Capacity
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 5L-10L Capacity
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 >10L Capacity
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
8 Market Breakup by Fuel Type
- 8.1 Diesel
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Gasoline
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Others
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 AB Volvo
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 AGCO Corporation
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.2.4 SWOT Analysis
- 14.3.3 Caterpillar Inc.
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 Cummins Inc.
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Deere & Company
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.6 Deutz AG
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Hitachi Construction Machinery Co. Ltd. (Hitachi Ltd.)
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.7.4 SWOT Analysis
- 14.3.8 J C Bamford Excavators Ltd.
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 Komatsu Ltd.
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 KUBOTA Corporation
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 Mahindra & Mahindra Ltd.
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 Weichai Power Co. Ltd
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.12.3 Financials
- 14.3.13 Yanmar Holdings Co. Ltd.
- 14.3.13.1 Company Overview
- 14.3.13.2 Product Portfolio
- 14.3.1 AB Volvo
Product Code: SR112024A5800
List of Figures
- Figure 1: Global: Off Highway Vehicle Engine Market: Major Drivers and Challenges
- Figure 2: Global: Off Highway Vehicle Engine Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Off Highway Vehicle Engine Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 4: Global: Off Highway Vehicle Engine Market: Breakup by Power Output (in %), 2023
- Figure 5: Global: Off Highway Vehicle Engine Market: Breakup by Engine Capacity (in %), 2023
- Figure 6: Global: Off Highway Vehicle Engine Market: Breakup by Fuel Type (in %), 2023
- Figure 7: Global: Off Highway Vehicle Engine Market: Breakup by Region (in %), 2023
- Figure 8: Global: Off Highway Vehicle Engine (Agricultural Machinery) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 9: Global: Off Highway Vehicle Engine (Agricultural Machinery) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 10: Global: Off Highway Vehicle Engine (Construction Machinery) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 11: Global: Off Highway Vehicle Engine (Construction Machinery) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 12: Global: Off Highway Vehicle Engine (<5L Capacity) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 13: Global: Off Highway Vehicle Engine (<5L Capacity) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 14: Global: Off Highway Vehicle Engine (5L-10L Capacity) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 15: Global: Off Highway Vehicle Engine (5L-10L Capacity) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 16: Global: Off Highway Vehicle Engine (>10L Capacity) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 17: Global: Off Highway Vehicle Engine (>10L Capacity) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 18: Global: Off Highway Vehicle Engine (Diesel) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 19: Global: Off Highway Vehicle Engine (Diesel) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 20: Global: Off Highway Vehicle Engine (Gasoline) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 21: Global: Off Highway Vehicle Engine (Gasoline) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 22: Global: Off Highway Vehicle Engine (Other Fuel Types) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 23: Global: Off Highway Vehicle Engine (Other Fuel Types) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 24: North America: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 25: North America: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 26: United States: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 27: United States: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 28: Canada: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 29: Canada: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 30: Asia-Pacific: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 31: Asia-Pacific: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 32: China: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 33: China: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 34: Japan: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 35: Japan: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 36: India: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 37: India: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 38: South Korea: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 39: South Korea: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 40: Australia: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 41: Australia: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 42: Indonesia: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 43: Indonesia: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 44: Others: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 45: Others: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 46: Europe: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 47: Europe: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 48: Germany: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 49: Germany: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 50: France: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 51: France: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 52: United Kingdom: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 53: United Kingdom: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 54: Italy: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 55: Italy: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 56: Spain: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 57: Spain: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 58: Russia: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 59: Russia: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 60: Others: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 61: Others: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 62: Latin America: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 63: Latin America: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 64: Brazil: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 65: Brazil: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 66: Mexico: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 67: Mexico: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 68: Others: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 69: Others: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 70: Middle East and Africa: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 71: Middle East and Africa: Off Highway Vehicle Engine Market: Breakup by Country (in %), 2023
- Figure 72: Middle East and Africa: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 73: Global: Off Highway Vehicle Engine Industry: SWOT Analysis
- Figure 74: Global: Off Highway Vehicle Engine Industry: Value Chain Analysis
- Figure 75: Global: Off Highway Vehicle Engine Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Off Highway Vehicle Engine Market: Key Industry Highlights, 2023 and 2032
- Table 2: Global: Off Highway Vehicle Engine Market Forecast: Breakup by Power Output (in Million US$), 2024-2032
- Table 3: Global: Off Highway Vehicle Engine Market Forecast: Breakup by Engine Capacity (in Million US$), 2024-2032
- Table 4: Global: Off Highway Vehicle Engine Market Forecast: Breakup by Fuel Type (in Million US$), 2024-2032
- Table 5: Global: Off Highway Vehicle Engine Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 6: Global: Off Highway Vehicle Engine Market: Competitive Structure
- Table 7: Global: Off Highway Vehicle Engine Market: Key Players
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