Global Off Highway Vehicle Engine Market to Reach US$ 67.0 Billion by 2032, Fueled by Increasing Demand for OHV for Multifarious Applications

July 10, 2023 | Automotive Industry

According to the latest report by IMARC Group, titled “­­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,” the global off highway vehicle engine market size reached US$ 42.6 Billion in 2023. An off highway vehicle (OHV) engine is a specialized power unit designed for vehicles used in rugged terrains and non-public road applications such as all-terrain vehicles (ATVs), four-wheelers, three-wheelers, motorcycles, dirt and trail bikes, and snowmobiles. It is particularly engineered to deliver optimal performance, durability, and fuel efficiency in demanding off-road conditions. OHV engine is built to withstand the harsh operating environments and heavy-duty workloads typically encountered in off-road applications, providing reliable power to ensure smooth operations in challenging terrains and adverse weather conditions. As a result, it is widely employed in a wide range of applications, including construction and mining equipment, agricultural machinery, forestry vehicles, and industrial material handling equipment.

Global Off-Highway Vehicle Engine Market Trends:

The off highway vehicle engine market is primarily driven by the expansion of construction and infrastructure development activities across the globe, impelling the demand for OHVs and their associated engines. Besides this, the rising need for heavy machinery and equipment in construction projects, such as excavators, bulldozers, and loaders, is fueling the market growth. In addition to this, the flourishing growth of the agricultural sector, particularly in developing regions, is creating a surging demand for OHV engines in agricultural machinery, such as tractors, harvesters, and sprayers, thus favoring the market growth. Moreover, the mining industry is witnessing substantial growth, leading to an increased requirement for specialized vehicles and engines to extract and transport minerals efficiently. OHV engines offer the power and durability necessary for mining operations in challenging environments, further contributing to the market growth. Apart from this, continuous technological advancements, such as the development of advanced engines that offer higher power output, improved fuel efficiency, and reduced emissions to meet stringent environmental regulations, are presenting remunerative growth opportunities for the market. Concurrent with this, the integration of electronic controls and intelligent systems to enhance the performance and reliability of OHV engines is aiding in market expansion. Looking forward, the market value is projected to reach US$ 67.0 Billion by 2032, expanding at a CAGR of 5.1% during 2024-2032.

Market Summary:

  • Based on the power output, the market is bifurcated into agricultural (upto 30 HP, 31-50 HP, 51-80 HP, 81-140 HP, and 140+ HP) and construction machineries (upto 100 HP, 101-200 HP, 201-400 HP, and 400+ HP).
  • On the basis of the engine capacity, the market has been segregated into <5L capacity, 5L-10L capacity, and >10L capacity.
  • Based on the fuel type, the market is categorized into diesel, gasoline, and others.
  • On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has also been examined, with some 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.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Power Output, Engine Capacity, Fuel Type, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Off Highway Vehicle Engine Market to Reach US$ 67.0 Billion by 2032, Fueled by Increasing Demand for OHV for Multifarious Applications
Purchase options

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-714-6104


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More