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Off Highway Vehicle Engine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global off highway vehicle engine market reached a value of US$ 37.59 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 54.12 Billion by 2027, exhibiting a CAGR of 6.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor. 

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, along with forecasts at the global, regional and country level from 2022-2027. 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
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$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
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)

 

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

    2.1    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
    9.2    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
    9.3    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
    9.4    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
    9.5    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

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$), 2016-2021
Figure 3: Global: Off Highway Vehicle Engine Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Off Highway Vehicle Engine Market: Breakup by Power Output (in %), 2021
Figure 5: Global: Off Highway Vehicle Engine Market: Breakup by Engine Capacity (in %), 2021
Figure 6: Global: Off Highway Vehicle Engine Market: Breakup by Fuel Type (in %), 2021
Figure 7: Global: Off Highway Vehicle Engine Market: Breakup by Region (in %), 2021
Figure 8: Global: Off Highway Vehicle Engine (Agricultural Machinery) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Off Highway Vehicle Engine (Agricultural Machinery) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Off Highway Vehicle Engine (Construction Machinery) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Off Highway Vehicle Engine (Construction Machinery) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Off Highway Vehicle Engine (<5L Capacity) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Off Highway Vehicle Engine (<5L Capacity) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Off Highway Vehicle Engine (5L-10L Capacity) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Off Highway Vehicle Engine (5L-10L Capacity) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Off Highway Vehicle Engine (>10L Capacity) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Off Highway Vehicle Engine (>10L Capacity) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Off Highway Vehicle Engine (Diesel) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Off Highway Vehicle Engine (Diesel) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Off Highway Vehicle Engine (Gasoline) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Off Highway Vehicle Engine (Gasoline) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Off Highway Vehicle Engine (Other Fuel Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Off Highway Vehicle Engine (Other Fuel Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: North America: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: North America: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: United States: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: United States: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Canada: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Canada: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Asia-Pacific: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Asia-Pacific: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: China: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: China: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Japan: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Japan: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: India: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: India: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: South Korea: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: South Korea: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Australia: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Australia: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Indonesia: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Indonesia: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Others: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Others: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Europe: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Europe: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Germany: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Germany: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: France: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: France: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: United Kingdom: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: United Kingdom: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Italy: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Italy: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Spain: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Spain: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Russia: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Russia: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Others: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Others: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Latin America: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Latin America: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Brazil: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Brazil: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Mexico: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Mexico: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Others: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Others: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Middle East and Africa: Off Highway Vehicle Engine Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Middle East and Africa: Off Highway Vehicle Engine Market: Breakup by Country (in %), 2021
Figure 72: Middle East and Africa: Off Highway Vehicle Engine Market Forecast: Sales Value (in Million US$), 2022-2027
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, 2021 and 2027
Table 2: Global: Off Highway Vehicle Engine Market Forecast: Breakup by Power Output (in Million US$), 2022-2027
Table 3: Global: Off Highway Vehicle Engine Market Forecast: Breakup by Engine Capacity (in Million US$), 2022-2027
Table 4: Global: Off Highway Vehicle Engine Market Forecast: Breakup by Fuel Type (in Million US$), 2022-2027
Table 5: Global: Off Highway Vehicle Engine Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Off Highway Vehicle Engine Market: Competitive Structure
Table 7: Global: Off Highway Vehicle Engine Market: Key Players


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