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Off Highway Vehicle Engine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

September 2023 | 138 pages | ID: O9107DE5916EEN
IMARC Group

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Market Overview:

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.

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 2023-2028. 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?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
  2.3.1Primary Sources
  2.3.2Secondary Sources
2.4Market Estimation
  2.4.1Bottom-Up Approach
  2.4.2Top-Down Approach
2.5Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1Overview
4.2Key Industry Trends

5 GLOBAL OFF HIGHWAY VEHICLE ENGINE MARKET

5.1Market Overview
5.2Market Performance
5.3Impact of COVID-19
5.4Market Forecast

6 MARKET BREAKUP BY POWER OUTPUT

6.1Agricultural 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
6.2Construction 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
7.25L-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

8.1Diesel
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2Gasoline
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3Others
  8.3.1 Market Trends
  8.3.2 Market Forecast

9 MARKET BREAKUP BY REGION

9.1North 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
9.2Asia-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
9.3Europe
  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
9.4Latin 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
9.5Middle East and Africa
  9.5.1 Market Trends
  9.5.2 Market Breakup by Country
  9.5.3 Market Forecast

10 SWOT ANALYSIS

10.1Overview
10.2Strengths
10.3Weaknesses
10.4Opportunities
10.5Threats

11 VALUE CHAIN ANALYSIS

12 PORTERS FIVE FORCES ANALYSIS

12.1Overview
12.2Bargaining Power of Buyers
12.3Bargaining Power of Suppliers
12.4Degree of Competition
12.5Threat of New Entrants
12.6Threat of Substitutes

13 PRICE ANALYSIS

14 COMPETITIVE LANDSCAPE

14.1Market Structure
14.2Key Players
14.3Profiles of Key Players
  14.3.1AB Volvo
    14.3.1.1 Company Overview
    14.3.1.2 Product Portfolio
    14.3.1.3 Financials
    14.3.1.4 SWOT Analysis
  14.3.2AGCO Corporation
    14.3.2.1 Company Overview
    14.3.2.2 Product Portfolio
    14.3.2.3 Financials
    14.3.2.4 SWOT Analysis
  14.3.3Caterpillar Inc.
    14.3.3.1 Company Overview
    14.3.3.2 Product Portfolio
    14.3.3.3 Financials
    14.3.3.4 SWOT Analysis
  14.3.4Cummins Inc.
    14.3.4.1 Company Overview
    14.3.4.2 Product Portfolio
    14.3.4.3 Financials
    14.3.4.4 SWOT Analysis
  14.3.5Deere & Company
    14.3.5.1 Company Overview
    14.3.5.2 Product Portfolio
    14.3.5.3 Financials
    14.3.5.4 SWOT Analysis
  14.3.6Deutz AG
    14.3.6.1 Company Overview
    14.3.6.2 Product Portfolio
    14.3.6.3 Financials
    14.3.6.4 SWOT Analysis
  14.3.7Hitachi 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
  14.3.8J C Bamford Excavators Ltd.
    14.3.8.1 Company Overview
    14.3.8.2 Product Portfolio
  14.3.9Komatsu Ltd.
    14.3.9.1 Company Overview
    14.3.9.2 Product Portfolio
    14.3.9.3 Financials
    14.3.9.4 SWOT Analysis
  14.3.10KUBOTA Corporation
    14.3.10.1 Company Overview
    14.3.10.2 Product Portfolio
    14.3.10.3 Financials
    14.3.10.4 SWOT Analysis
  14.3.11Mahindra & Mahindra Ltd.
    14.3.11.1 Company Overview
    14.3.11.2 Product Portfolio
  14.3.12Weichai Power Co. Ltd
    14.3.12.1 Company Overview
    14.3.12.2 Product Portfolio
    14.3.12.3 Financials
  14.3.13Yanmar Holdings Co. Ltd.
    14.3.13.1 Company Overview
    14.3.13.2 Product Portfolio

LIST OF TABLES

Table 1: Global: Off Highway Vehicle Engine Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Off Highway Vehicle Engine Market Forecast: Breakup by Power Output (in Million US$), 2023-2028
Table 3: Global: Off Highway Vehicle Engine Market Forecast: Breakup by Engine Capacity (in Million US$), 2023-2028
Table 4: Global: Off Highway Vehicle Engine Market Forecast: Breakup by Fuel Type (in Million US$), 2023-2028
Table 5: Global: Off Highway Vehicle Engine Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Off Highway Vehicle Engine Market: Competitive Structure
Table 7: Global: Off Highway Vehicle Engine Market: Key Players

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$), 2017-2022
Figure 3: Global: Off Highway Vehicle Engine Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Off Highway Vehicle Engine Market: Breakup by Power Output (in %), 2022
Figure 5: Global: Off Highway Vehicle Engine Market: Breakup by Engine Capacity (in %), 2022
Figure 6: Global: Off Highway Vehicle Engine Market: Breakup by Fuel Type (in %), 2022
Figure 7: Global: Off Highway Vehicle Engine Market: Breakup by Region (in %), 2022
Figure 8: Global: Off Highway Vehicle Engine (Agricultural Machinery) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Off Highway Vehicle Engine (Agricultural Machinery) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Off Highway Vehicle Engine (Construction Machinery) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Off Highway Vehicle Engine (Construction Machinery) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Off Highway Vehicle Engine (<5L Capacity) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Off Highway Vehicle Engine (<5L Capacity) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Off Highway Vehicle Engine (5L-10L Capacity) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Off Highway Vehicle Engine (5L-10L Capacity) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Off Highway Vehicle Engine (>10L Capacity) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Off Highway Vehicle Engine (>10L Capacity) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Off Highway Vehicle Engine (Diesel) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Off Highway Vehicle Engine (Diesel) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Off Highway Vehicle Engine (Gasoline) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Off Highway Vehicle Engine (Gasoline) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Off Highway Vehicle Engine (Other Fuel Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Off Highway Vehicle Engine (Other Fuel Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: North America: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: North America: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: United States: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: United States: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Canada: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Canada: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Asia-Pacific: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Asia-Pacific: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: China: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: China: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Japan: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Japan: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: India: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: India: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: South Korea: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: South Korea: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Australia: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Australia: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Indonesia: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Indonesia: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Others: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Others: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Europe: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Europe: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Germany: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Germany: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: France: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: France: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: United Kingdom: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: United Kingdom: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Italy: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Italy: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Spain: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Spain: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Russia: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Russia: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Others: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Others: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Latin America: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Latin America: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Brazil: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Brazil: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Mexico: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Mexico: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Others: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Others: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Middle East and Africa: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Middle East and Africa: Off Highway Vehicle Engine Market: Breakup by Country (in %), 2022
Figure 72: Middle East and Africa: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2023-2028
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


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