Asia Pacific Off-highway Electric Vehicles Market Size, Share & Trends Analysis Report By Propulsion (Battery Electric Vehicle (BEV) and Hybrid Electric Vehicle (HEV)), By Application, By Battery Type, By Country and Growth Forecast, 2025

List of Tables

The Asia Pacific Off-highway Electric Vehicles Market would witness market growth of 21.9% CAGR during the forecast period (2025-2032).

The China market dominated the Asia Pacific Off-highway Electric Vehicles Market by Country in 2024, and would continue to be a dominant market till 2032; thereby, achieving a market value of $2,722.7 Million by 2032. The Japan market is registering a CAGR of 21.2% during (2025 - 2032). Additionally, The India market would showcase a CAGR of 22.8% during (2025 - 2032).

Electric forklifts, automated guided vehicles (AGVs), and warehouse robots are revolutionizing material handling operations. These vehicles offer enhanced maneuverability, reduced noise levels, and lower operating costs than traditional internal combustion engine (ICE) models. The rise of e-commerce and automation has further accelerated the demand for electric material handling solutions.

Various factors influence the adoption of off-highway electric vehicles, including government incentives, advancements in battery technology, infrastructure development, and increasing awareness of environmental sustainability. Lithium-ion and solid-state battery technologies are crucial in enhancing the adoption of off-highway electric vehicles.

The market is witnessing increased demand globally, driven by sustainability goals, infrastructure development, and technological advancements. China's 14th Five-Year Plan (2021-2025) prioritizes urbanization, energy, transportation, and water system infrastructure, with an estimated $4.2 trillion investment in new infrastructure. The plan also emphasizes green building development, targeting 350 million square meters of retrofitted structures and 50 million square meters of net-zero energy buildings. In addition, India's Agriculture & Allied Sector is a vital pillar of its economy, contributing significantly to food security and rural employment. The sector has seen a rise in horticultural production, reaching 355.25 million tonnes in 2023-24, with a 1.15% increase in cultivated land. Also, Japan's electric vehicle (EV) industry is expanding rapidly, with BEV sales increasing 2.7 times in 2022 compared to 2021. The country's commitment to achieving 100% environmentally friendly vehicles by 2035 propels the demand for electric heavy machinery. Hence, the market in China, India, and Japan is expanding due to sectoral advancements in infrastructure, agriculture, and battery-electric technology.

Based on Propulsion, the market is segmented into Battery Electric Vehicle (BEV) and Hybrid Electric Vehicle (HEV). Based on Application, the market is segmented into Agriculture, Mining, and Construction. Based on Battery Type, the market is segmented into Li-ion and Lead-acid. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.

List of Key Companies Profiled

Caterpillar, Inc.
CNH Industrial N.V.
Hitachi Construction Machinery Co., Ltd. (Hitachi, Ltd.)
J C Bamford Excavators Ltd.
Komatsu Ltd.
Volvo Construction Equipment AB (Volvo Group)
Deere & Company
Doosan Corporation
Sandvik AB
Epiroc AB

Asia Pacific Off-highway Electric Vehicles Market Report Segmentation

By Propulsion

Geospatial Mapping
Disaster Management
Energy & Resource Management
Surveillance & Monitoring

By Application

Agriculture
Mining
Construction

By Battery Type

Li-ion
Lead-acid

By Country

China
Japan
India
South Korea
Australia
Malaysia
Rest of Asia Pacific

Chapter 1. Market Scope & Methodology

1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
- 1.4.1 Asia Pacific Off-highway Electric Vehicles Market, by Propulsion
- 1.4.2 Asia Pacific Off-highway Electric Vehicles Market, by Application
- 1.4.3 Asia Pacific Off-highway Electric Vehicles Market, by Battery Type
- 1.4.4 Asia Pacific Off-highway Electric Vehicles Market, by Country
1.5 Methodology for the research

Chapter 2. Market at a Glance

2.1 Key Highlights

Chapter 3. Market Overview

3.1 Introduction
- 3.1.1 Overview
  - 3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges

Chapter 4. Competition Analysis - Global

4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
4.3 Market Share Analysis, 2024
4.4 Top Winning Strategies
- 4.4.1 Key Leading Strategies: Percentage Distribution (2021-2025)
- 4.4.2 Key Strategic Move: (Product Launches and Product Expansions : 2021, Jun - 2025, Jan) Leading Players
4.5 Porter Five Forces Analysis

Chapter 5. Asia Pacific Off-highway Electric Vehicles Market by Propulsion

5.1 Asia Pacific Battery Electric Vehicle (BEV) Market by Country
5.2 Asia Pacific Hybrid Electric Vehicle (HEV) Market by Country

Chapter 6. Asia Pacific Off-highway Electric Vehicles Market by Application

6.1 Asia Pacific Agriculture Market by Country
6.2 Asia Pacific Mining Market by Country
6.3 Asia Pacific Construction Market by Country

Chapter 7. Asia Pacific Off-highway Electric Vehicles Market by Battery Type

7.1 Asia Pacific Li-ion Market by Country
7.2 Asia Pacific Lead-acid Market by Country

Chapter 8. Asia Pacific Off-highway Electric Vehicles Market by Country

8.1 China Off-highway Electric Vehicles Market
- 8.1.1 China Off-highway Electric Vehicles Market by Propulsion
- 8.1.2 China Off-highway Electric Vehicles Market by Application
- 8.1.3 China Off-highway Electric Vehicles Market by Battery Type
8.2 Japan Off-highway Electric Vehicles Market
- 8.2.1 Japan Off-highway Electric Vehicles Market by Propulsion
- 8.2.2 Japan Off-highway Electric Vehicles Market by Application
- 8.2.3 Japan Off-highway Electric Vehicles Market by Battery Type
8.3 India Off-highway Electric Vehicles Market
- 8.3.1 India Off-highway Electric Vehicles Market by Propulsion
- 8.3.2 India Off-highway Electric Vehicles Market by Application
- 8.3.3 India Off-highway Electric Vehicles Market by Battery Type
8.4 South Korea Off-highway Electric Vehicles Market
- 8.4.1 South Korea Off-highway Electric Vehicles Market by Propulsion
- 8.4.2 South Korea Off-highway Electric Vehicles Market by Application
- 8.4.3 South Korea Off-highway Electric Vehicles Market by Battery Type
8.5 Australia Off-highway Electric Vehicles Market
- 8.5.1 Australia Off-highway Electric Vehicles Market by Propulsion
- 8.5.2 Australia Off-highway Electric Vehicles Market by Application
- 8.5.3 Australia Off-highway Electric Vehicles Market by Battery Type
8.6 Malaysia Off-highway Electric Vehicles Market
- 8.6.1 Malaysia Off-highway Electric Vehicles Market by Propulsion
- 8.6.2 Malaysia Off-highway Electric Vehicles Market by Application
- 8.6.3 Malaysia Off-highway Electric Vehicles Market by Battery Type
8.7 Rest of Asia Pacific Off-highway Electric Vehicles Market
- 8.7.1 Rest of Asia Pacific Off-highway Electric Vehicles Market by Propulsion
- 8.7.2 Rest of Asia Pacific Off-highway Electric Vehicles Market by Application
- 8.7.3 Rest of Asia Pacific Off-highway Electric Vehicles Market by Battery Type

Chapter 9. Company Profiles

9.1 Caterpillar, Inc.
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental and Regional Analysis
- 9.1.4 Research & Development Expense
- 9.1.5 Recent strategies and developments:
  - 9.1.5.1 Partnerships, Collaborations, and Agreements:
  - 9.1.5.2 Product Launches and Product Expansions:
- 9.1.6 SWOT Analysis
9.2 CNH Industrial N.V
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Regional & Segmental Analysis
- 9.2.4 Research & Development Expenses
- 9.2.5 SWOT Analysis
9.3 Hitachi Construction Machinery Co., Ltd. (Hitachi, Ltd.)
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Research & Development Expenses
- 9.3.5 SWOT Analysis
9.4 J C Bamford Excavators Ltd.
- 9.4.1 Company Overview
- 9.4.2 SWOT Analysis
9.5 Komatsu Ltd.
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segmental and Regional Analysis
- 9.5.4 Research & Development Expenses
- 9.5.5 Recent strategies and developments:
  - 9.5.5.1 Product Launches and Product Expansions:
- 9.5.6 SWOT Analysis
9.6 Volvo Construction Equipment AB (Volvo Group)
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expense
- 9.6.5 Recent strategies and developments:
  - 9.6.5.1 Product Launches and Product Expansions:
9.7 Deere & Company
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental and Regional Analysis
- 9.7.4 Research & Development Expenses
- 9.7.5 Recent strategies and developments:
  - 9.7.5.1 Product Launches and Product Expansions:
- 9.7.6 SWOT Analysis
9.8 Doosan Corporation
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Segmental and Regional Analysis
- 9.8.4 Research & Development Expenses
- 9.8.5 SWOT Analysis
9.9 Sandvik AB
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Segmental and Regional Analysis
- 9.9.4 Research & Development Expenses
- 9.9.5 Recent strategies and developments:
  - 9.9.5.1 Partnerships, Collaborations, and Agreements:
- 9.9.6 SWOT Analysis
9.10. Epiroc AB
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Segmental and Regional Analysis
- 9.10.4 Research & Development Expense
- 9.10.5 SWOT Analysis

LIST OF TABLES

TABLE 1 Asia Pacific Off-highway Electric Vehicles Market, 2021 - 2024, USD Million
TABLE 2 Asia Pacific Off-highway Electric Vehicles Market, 2025 - 2032, USD Million
TABLE 3 Partnerships, Collaborations and Agreements- Off-highway Electric Vehicles Market
TABLE 4 Product Launches And Product Expansions- Off-highway Electric Vehicles Market
TABLE 5 Asia Pacific Off-highway Electric Vehicles Market by Propulsion, 2021 - 2024, USD Million
TABLE 6 Asia Pacific Off-highway Electric Vehicles Market by Propulsion, 2025 - 2032, USD Million
TABLE 7 Asia Pacific Battery Electric Vehicle (BEV) Market by Country, 2021 - 2024, USD Million
TABLE 8 Asia Pacific Battery Electric Vehicle (BEV) Market by Country, 2025 - 2032, USD Million
TABLE 9 Asia Pacific Hybrid Electric Vehicle (HEV) Market by Country, 2021 - 2024, USD Million
TABLE 10 Asia Pacific Hybrid Electric Vehicle (HEV) Market by Country, 2025 - 2032, USD Million
TABLE 11 Asia Pacific Off-highway Electric Vehicles Market by Application, 2021 - 2024, USD Million
TABLE 12 Asia Pacific Off-highway Electric Vehicles Market by Application, 2025 - 2032, USD Million
TABLE 13 Asia Pacific Agriculture Market by Country, 2021 - 2024, USD Million
TABLE 14 Asia Pacific Agriculture Market by Country, 2025 - 2032, USD Million
TABLE 15 Asia Pacific Mining Market by Country, 2021 - 2024, USD Million
TABLE 16 Asia Pacific Mining Market by Country, 2025 - 2032, USD Million
TABLE 17 Asia Pacific Construction Market by Country, 2021 - 2024, USD Million
TABLE 18 Asia Pacific Construction Market by Country, 2025 - 2032, USD Million
TABLE 19 Asia Pacific Off-highway Electric Vehicles Market by Battery Type, 2021 - 2024, USD Million
TABLE 20 Asia Pacific Off-highway Electric Vehicles Market by Battery Type, 2025 - 2032, USD Million
TABLE 21 Asia Pacific Li-ion Market by Country, 2021 - 2024, USD Million
TABLE 22 Asia Pacific Li-ion Market by Country, 2025 - 2032, USD Million
TABLE 23 Asia Pacific Lead-acid Market by Country, 2021 - 2024, USD Million
TABLE 24 Asia Pacific Lead-acid Market by Country, 2025 - 2032, USD Million
TABLE 25 Asia Pacific Off-highway Electric Vehicles Market by Country, 2021 - 2024, USD Million
TABLE 26 Asia Pacific Off-highway Electric Vehicles Market by Country, 2025 - 2032, USD Million
TABLE 27 China Off-highway Electric Vehicles Market, 2021 - 2024, USD Million
TABLE 28 China Off-highway Electric Vehicles Market, 2025 - 2032, USD Million
TABLE 29 China Off-highway Electric Vehicles Market by Propulsion, 2021 - 2024, USD Million
TABLE 30 China Off-highway Electric Vehicles Market by Propulsion, 2025 - 2032, USD Million
TABLE 31 China Off-highway Electric Vehicles Market by Application, 2021 - 2024, USD Million
TABLE 32 China Off-highway Electric Vehicles Market by Application, 2025 - 2032, USD Million
TABLE 33 China Off-highway Electric Vehicles Market by Battery Type, 2021 - 2024, USD Million
TABLE 34 China Off-highway Electric Vehicles Market by Battery Type, 2025 - 2032, USD Million
TABLE 35 Japan Off-highway Electric Vehicles Market, 2021 - 2024, USD Million
TABLE 36 Japan Off-highway Electric Vehicles Market, 2025 - 2032, USD Million
TABLE 37 Japan Off-highway Electric Vehicles Market by Propulsion, 2021 - 2024, USD Million
TABLE 38 Japan Off-highway Electric Vehicles Market by Propulsion, 2025 - 2032, USD Million
TABLE 39 Japan Off-highway Electric Vehicles Market by Application, 2021 - 2024, USD Million
TABLE 40 Japan Off-highway Electric Vehicles Market by Application, 2025 - 2032, USD Million
TABLE 41 Japan Off-highway Electric Vehicles Market by Battery Type, 2021 - 2024, USD Million
TABLE 42 Japan Off-highway Electric Vehicles Market by Battery Type, 2025 - 2032, USD Million
TABLE 43 India Off-highway Electric Vehicles Market, 2021 - 2024, USD Million
TABLE 44 India Off-highway Electric Vehicles Market, 2025 - 2032, USD Million
TABLE 45 India Off-highway Electric Vehicles Market by Propulsion, 2021 - 2024, USD Million
TABLE 46 India Off-highway Electric Vehicles Market by Propulsion, 2025 - 2032, USD Million
TABLE 47 India Off-highway Electric Vehicles Market by Application, 2021 - 2024, USD Million
TABLE 48 India Off-highway Electric Vehicles Market by Application, 2025 - 2032, USD Million
TABLE 49 India Off-highway Electric Vehicles Market by Battery Type, 2021 - 2024, USD Million
TABLE 50 India Off-highway Electric Vehicles Market by Battery Type, 2025 - 2032, USD Million
TABLE 51 South Korea Off-highway Electric Vehicles Market, 2021 - 2024, USD Million
TABLE 52 South Korea Off-highway Electric Vehicles Market, 2025 - 2032, USD Million
TABLE 53 South Korea Off-highway Electric Vehicles Market by Propulsion, 2021 - 2024, USD Million
TABLE 54 South Korea Off-highway Electric Vehicles Market by Propulsion, 2025 - 2032, USD Million
TABLE 55 South Korea Off-highway Electric Vehicles Market by Application, 2021 - 2024, USD Million
TABLE 56 South Korea Off-highway Electric Vehicles Market by Application, 2025 - 2032, USD Million
TABLE 57 South Korea Off-highway Electric Vehicles Market by Battery Type, 2021 - 2024, USD Million
TABLE 58 South Korea Off-highway Electric Vehicles Market by Battery Type, 2025 - 2032, USD Million
TABLE 59 Australia Off-highway Electric Vehicles Market, 2021 - 2024, USD Million
TABLE 60 Australia Off-highway Electric Vehicles Market, 2025 - 2032, USD Million
TABLE 61 Australia Off-highway Electric Vehicles Market by Propulsion, 2021 - 2024, USD Million
TABLE 62 Australia Off-highway Electric Vehicles Market by Propulsion, 2025 - 2032, USD Million
TABLE 63 Australia Off-highway Electric Vehicles Market by Application, 2021 - 2024, USD Million
TABLE 64 Australia Off-highway Electric Vehicles Market by Application, 2025 - 2032, USD Million
TABLE 65 Australia Off-highway Electric Vehicles Market by Battery Type, 2021 - 2024, USD Million
TABLE 66 Australia Off-highway Electric Vehicles Market by Battery Type, 2025 - 2032, USD Million
TABLE 67 Malaysia Off-highway Electric Vehicles Market, 2021 - 2024, USD Million
TABLE 68 Malaysia Off-highway Electric Vehicles Market, 2025 - 2032, USD Million
TABLE 69 Malaysia Off-highway Electric Vehicles Market by Propulsion, 2021 - 2024, USD Million
TABLE 70 Malaysia Off-highway Electric Vehicles Market by Propulsion, 2025 - 2032, USD Million
TABLE 71 Malaysia Off-highway Electric Vehicles Market by Application, 2021 - 2024, USD Million
TABLE 72 Malaysia Off-highway Electric Vehicles Market by Application, 2025 - 2032, USD Million
TABLE 73 Malaysia Off-highway Electric Vehicles Market by Battery Type, 2021 - 2024, USD Million
TABLE 74 Malaysia Off-highway Electric Vehicles Market by Battery Type, 2025 - 2032, USD Million
TABLE 75 Rest of Asia Pacific Off-highway Electric Vehicles Market, 2021 - 2024, USD Million
TABLE 76 Rest of Asia Pacific Off-highway Electric Vehicles Market, 2025 - 2032, USD Million
TABLE 77 Rest of Asia Pacific Off-highway Electric Vehicles Market by Propulsion, 2021 - 2024, USD Million
TABLE 78 Rest of Asia Pacific Off-highway Electric Vehicles Market by Propulsion, 2025 - 2032, USD Million
TABLE 79 Rest of Asia Pacific Off-highway Electric Vehicles Market by Application, 2021 - 2024, USD Million
TABLE 80 Rest of Asia Pacific Off-highway Electric Vehicles Market by Application, 2025 - 2032, USD Million
TABLE 81 Rest of Asia Pacific Off-highway Electric Vehicles Market by Battery Type, 2021 - 2024, USD Million
TABLE 82 Rest of Asia Pacific Off-highway Electric Vehicles Market by Battery Type, 2025 - 2032, USD Million
TABLE 83 key information - Caterpillar, Inc.
TABLE 84 Key Information - CNH Industrial N.V.
TABLE 85 Key Information - Hitachi construction machinery co., ltd.
TABLE 86 Key Information - J C Bamford Excavators Ltd.
TABLE 87 Key Information - Komatsu Ltd.
TABLE 88 Key Information - Volvo Construction Equipment AB
TABLE 89 Key Information - Deere & Company
TABLE 90 Key Information - Doosan Corporation
TABLE 91 Key Information - Sandvik AB
TABLE 92 Key Information - Epiroc AB

LIST OF FIGURES

FIG 1 Methodology for the research
FIG 2 Asia Pacific Off-highway Electric Vehicles Market, 2021 - 2032, USD Million
FIG 3 Key Factors Impacting Off-highway Electric Vehicles Market
FIG 4 KBV Cardinal Matrix
FIG 5 Market Share Analysis, 2024
FIG 6 Key Leading Strategies: Percentage Distribution (2021-2025)
FIG 7 Key Strategic Move: (Product Launches and Product Expansions : 2021, Jun - 2025, Jan) Leading Players
FIG 8 Porter's Five Forces Analysis - Off-highway Electric Vehicles Market
FIG 9 Asia Pacific Off-highway Electric Vehicles Market share by Propulsion, 2024
FIG 10 Asia Pacific Off-highway Electric Vehicles Market share by Propulsion, 2032
FIG 11 Asia Pacific Off-highway Electric Vehicles Market by Propulsion, 2021 - 2032, USD Million
FIG 12 Asia Pacific Off-highway Electric Vehicles Market share by Application, 2024
FIG 13 Asia Pacific Off-highway Electric Vehicles Market share by Application, 2032
FIG 14 Asia Pacific Off-highway Electric Vehicles Market by Application, 2021 - 2032, USD Million
FIG 15 Asia Pacific Off-highway Electric Vehicles Market share by Battery Type, 2024
FIG 16 Asia Pacific Off-highway Electric Vehicles Market share by Battery Type, 2032
FIG 17 Asia Pacific Off-highway Electric Vehicles Market by Battery Type, 2021 - 2032, USD Million
FIG 18 Asia Pacific Off-highway Electric Vehicles Market share by Country, 2024
FIG 19 Asia Pacific Off-highway Electric Vehicles Market share by Country, 2032
FIG 20 Asia Pacific Off-highway Electric Vehicles Market by Country, 2021 - 2032, USD Million
FIG 21 Recent strategies and developments: Caterpillar, Inc.
FIG 22 SWOT Analysis: Caterpillar, Inc.
FIG 23 SWOT Analysis: CNH Industrial N.V.
FIG 24 SWOT Analysis: HITACHI CONSTRUCTION MACHINERY CO., LTD
FIG 25 SWOT Analysis: J C Bamford Excavators Ltd.
FIG 26 SWOT Analysis: Komatsu Ltd.
FIG 27 SWOT Analysis: Deere & Company
FIG 28 SWOT Analysis: Doosan Corporation
FIG 29 SWOT Analysis: Sandvik AB
FIG 30 Swot Analysis: Epiroc AB

Asia Pacific Off-highway Electric Vehicles Market Size, Share & Trends Analysis Report By Propulsion (Battery Electric Vehicle (BEV) and Hybrid Electric Vehicle (HEV)), By Application, By Battery Type, By Country and Growth Forecast, 2025 - 2032

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