Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 29.61 billion

CAGR (2023-2028)

6.48%

Fastest Growing Segment

51-80 HP

Largest Market

Asia Pacific


Market Overview

The Global Off-Highway Vehicle Engine Market was valued at USD 29.61 billion in 2022 and is growing at a CAGR of 6.48% during the forecast period. The growing mechanization in agriculture worldwide is a key driver of the off-highway vehicle engine market. Agricultural mechanization refers to the use of equipment, machinery, and implements to enhance agricultural and food production.

Key Market Drivers

Growing Demand for Construction and Mining Activities         

The global off-highway vehicle engine market is witnessing substantial growth due to the increasing demand for construction and mining activities worldwide. As countries continue to urbanize and develop infrastructure, there is a continuous requirement for heavy-duty machinery, such as excavators, bulldozers, and loaders, which rely on off-highway vehicle engines. These engines are indispensable for powering these machines, making them crucial in the construction and mining sectors.

One of the primary drivers of this demand is the rapid urbanization observed in emerging economies. As more people migrate from rural areas to cities, the need for new buildings, roads, bridges, and other infrastructure becomes evident. Construction projects, both residential and commercial, are on the rise, leading to an increased demand for construction equipment powered by off-highway vehicle engines.

In addition to construction, the mining industry plays a vital role in propelling the off-highway vehicle engine market. Mining operations necessitate heavy machinery to extract and transport minerals and resources efficiently. Off-highway vehicle engines are selected for their reliability and power, enabling mining companies to maximize productivity. The expansion of mining activities to meet the growing demand for raw materials further fuels the demand for these engines.

Moreover, infrastructure development projects, such as the construction of highways, ports, airports, and railways, contribute significantly to the growth of the off-highway vehicle engine market. These large-scale projects require a wide range of heavy machinery, each equipped with powerful engines to complete tasks efficiently and meet project timelines.

In conclusion, the increasing demand for construction and mining activities, driven by urbanization, infrastructure development, and mining operations, is a prominent driver of the global off-highway vehicle engine market. These industries rely on robust and powerful engines to ensure productivity and meet the demands of modern construction and mining projects.

Technological Advancements and Emission Regulations       

Technological advancements and increasingly stringent emission regulations are significant factors influencing the global off-highway vehicle engine market. As the world's environmental consciousness rises and industries seek to reduce their carbon footprint, manufacturers of off-highway vehicle engines are driven to innovate and comply with emissions standards.

One notable technological advancement in the industry is the development of cleaner and more fuel-efficient engines. Manufacturers are heavily investing in research and development to create engines that not only deliver superior performance but also minimize emissions. This involves integrating advanced fuel injection systems, turbocharging, and electronic control systems to optimize engine efficiency and mitigate environmental impact.

Emission regulations, particularly in developed countries, are becoming more rigorous. These regulations aim to curtail pollutants such as nitrogen oxides (NOx), particulate matter (PM), and carbon dioxide (CO2) emissions. Manufacturers are obligated to produce off-highway vehicle engines that meet these stringent emissions standards, as failure to do so may result in fines and penalties. This regulatory pressure serves as a significant driving force for manufacturers to develop cleaner engines and invest in emission control technologies, including exhaust gas recirculation (EGR) and selective catalytic reduction (SCR) systems.

Furthermore, the adoption of alternative fuels and hybrid powertrains is gaining momentum in the off-highway vehicle engine market. These technologies effectively reduce greenhouse gas emissions and enhance fuel efficiency. Hybrid systems, for instance, combine conventional engines with electric motors to provide power, thereby reducing fuel consumption and emissions during idle or low-load operations.

In conclusion, technological advancements and the imperative to adhere to stringent emission regulations play a pivotal role in shaping the global off-highway vehicle engine market. Manufacturers are compelled to innovate to meet these challenges, resulting in the production of cleaner, more efficient, and environmentally friendly engines that align with the growing demand for sustainable solutions in the industry.

Expansion of Agriculture and Forestry Sectors     

The growth of the agriculture and forestry sectors plays a vital role in propelling the global off-highway vehicle engine market. These industries heavily depend on specialized off-highway vehicles and equipment powered by robust engines to meet the increasing worldwide demand for food, fiber, and wood products.

In the agriculture sector, off-highway vehicle engines are indispensable components of tractors, combine harvesters, and other machinery used for planting, cultivating, and harvesting crops. With the global population continually expanding, the demand for agricultural products rises accordingly. Consequently, farmers are embracing advanced machinery and technology to enhance productivity and meet this demand. Hence, modern agriculture relies on off-highway vehicle engines that offer high power, reliability, and fuel efficiency.

Similarly, the forestry industry relies on off-highway vehicles and equipment for timber harvesting, log transportation, and wood processing. As the demand for construction and housing increases, so does the need for timber and wood-based materials. This drives the demand for forestry equipment equipped with powerful engines capable of efficiently handling heavy-duty tasks.

Furthermore, both the agriculture and forestry sectors are witnessing technological advancements that further drive the demand for off-highway vehicle engines. Precision agriculture practices, such as GPS-guided tractors and automated harvesting equipment, require advanced engine technology for efficient operations. These innovations not only increase productivity and reduce labor costs but also minimize environmental impact, thus promoting the adoption of high-performance off-highway vehicle engines.

To summarize, the expansion of the agriculture and forestry sectors, driven by population growth and the demand for raw materials, significantly influences the global off-highway vehicle engine market. These industries rely on powerful and efficient engines to address the challenges posed by modern agriculture and forestry practices, making them crucial growth factors in the market.

 

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Key Market Challenges

Environmental Regulations and Emissions Compliance           

One of the primary challenges confronting the global off-highway vehicle engine market is the progressively stringent environmental regulations and the imperative to adhere to emissions standards. Governments and regulatory bodies worldwide are placing greater emphasis on mitigating the environmental impact of industrial and off-highway machinery. These regulations specifically target pollutants such as nitrogen oxides (NOx), particulate matter (PM), and carbon dioxide (CO2) emissions.

Meeting these exacting emission standards presents a significant hurdle for engine manufacturers. The development of engines that are both robust and environmentally friendly necessitates substantial investments in research and development. It often entails the adoption of advanced technologies like exhaust gas recirculation (EGR), selective catalytic reduction (SCR), and diesel particulate filters (DPF) to curtail harmful emissions.

Moreover, manufacturers must ensure that their engines comply with region-specific emissions regulations, which can vary significantly across countries or regions. This complexity further compounds the challenges in terms of production, certification, and distribution.

To maintain competitiveness and compliance, engine manufacturers must incessantly innovate and invest in emission reduction technologies, which can be financially burdensome and impact the pricing of the final product. Meeting these environmental regulations entails not only technical challenges but also financial and logistical considerations, as manufacturers must strike a balance between cost-effectiveness and compliance.

Market Volatility and Economic Uncertainty          

The global off-highway vehicle engine market is vulnerable to market volatility and economic uncertainties, which can significantly impact demand and profitability. These challenges arise from several factors:

Economic Cycles: The off-highway vehicle market is closely linked to economic cycles. During periods of economic downturns, construction, mining, and agriculture activities often decline, leading to reduced demand for off-highway vehicle engines. Economic recessions can result in project delays, reduced infrastructure investment, and decreased consumer spending, all of which adversely affect the market.

Currency Exchange Rates: Engine manufacturers frequently source components from various global suppliers, and fluctuations in currency exchange rates can have a substantial impact on production costs. Sudden changes in exchange rates can disrupt supply chains, affect pricing, and reduce profit margins.

Raw Material Costs: Off-highway vehicle engines require a range of raw materials, including steel, aluminum, and rare metals. Fluctuations in the prices of these materials can impact manufacturing costs, making it challenging for manufacturers to maintain consistent pricing and profitability.

Trade Policies and Tariffs: Trade disputes and tariffs can disrupt global supply chains, increase production costs, and restrict market access. Manufacturers may need to adapt their sourcing strategies or pass on increased costs to customers.

To navigate these challenges successfully, companies operating in the off-highway vehicle engine market must maintain financial flexibility, diversify their product offerings, and stay informed about economic trends and geopolitical developments. A robust risk management strategy is crucial to mitigate the impact of market volatility and economic uncertainty.

Technological Advancements and Product Differentiation  

Technological advancements serve as a catalyst for the off-highway vehicle engine market, yet they also pose significant challenges. As technology rapidly evolves, manufacturers must consistently innovate to maintain competitiveness and meet customer demands.

Within the off-highway vehicle sector, customers increasingly seek engines that not only comply with emissions regulations but also offer enhanced fuel efficiency, power, and reliability. To address these demands, manufacturers must heavily invest in research and development to cultivate cutting-edge engine technologies.

Additionally, the market experiences a growing shift toward alternative power sources, such as electric and hybrid engines, driven by sustainability and emissions reduction goals. This transition presents both opportunities and challenges. Manufacturers must adapt to these new technologies, develop electric and hybrid engine offerings, and establish robust supply chains for components like batteries and electric motors.

Furthermore, product differentiation emerges as another challenge. As competition intensifies, manufacturers must discover means to distinguish their engines from competitors. This may involve incorporating innovative features, enhancing fuel efficiency, and improving engine durability. However, striking the right balance between innovation and cost-effectiveness proves arduous, given that the addition of new features can escalate production costs and pricing.

In conclusion, while technological advancements drive progress in the off-highway vehicle engine market, they concurrently present challenges regarding R&D investments, swift adaptation to new technologies, and product differentiation. Manufacturers must perpetually innovate and evolve to retain competitiveness in this dynamic and ever-evolving industry.  

Key Market Trends

Electrification and Hybridization of Off-Highway Vehicle Engines          

One of the most significant and transformative trends in the global off-highway vehicle engine market is the increasing adoption of electrification and hybridization technologies. This trend is driven by growing environmental concerns, stricter emissions regulations, and the industry's need for greater fuel efficiency and sustainability.

Electric Powertrains: Electric off-highway vehicle engines are gaining momentum across various applications, including construction, agriculture, mining, and forestry. These engines are characterized by their zero-emission operation, reduced noise levels, and improved energy efficiency. Electric powertrains offer instant torque, making them well-suited for heavy-duty equipment that requires high levels of power and torque.

Hybrid Solutions: Hybrid off-highway vehicle engines combine traditional internal combustion engines with electric propulsion systems. These systems offer the advantage of reduced fuel consumption, lower emissions, and improved overall efficiency. Hybridization allows for regenerative braking, capturing and storing energy during deceleration for reuse, further enhancing fuel efficiency.

Stringent environmental regulations, such as Tier 4 Final and Stage V emissions standards, are compelling manufacturers to explore electrification and hybridization options to meet emission requirements. Additionally, rising fuel costs and a growing emphasis on sustainability are encouraging end-users to consider more fuel-efficient and eco-friendly equipment, driving the adoption of electric and hybrid off-highway vehicle engines.

As this trend continues to gain traction, it is expected to reshape the off-highway vehicle engine market, with more manufacturers investing in electric and hybrid technologies to meet the evolving needs of their customers and comply with the regulatory landscape.  

Digitalization and Connectivity for Off-Highway Vehicles       

The incorporation of digitalization and connectivity technologies into off-highway vehicles is a rising trend that is revolutionizing the industry in multiple ways. These advanced technologies are enhancing the performance, safety, and efficiency of off-highway equipment, leading to enhanced productivity and reduced operational costs.

Telematics and Remote Monitoring: Telematics systems are increasingly becoming standard features in many off-highway vehicles. These systems provide real-time data on equipment location, health, and performance. Remote monitoring enables fleet managers to track the status of their equipment, proactively schedule maintenance, and optimize operations for maximum efficiency.

Predictive Maintenance: IoT sensors and data analytics enable predictive maintenance for off-highway vehicles. By continuously monitoring engine and equipment conditions, manufacturers and operators can predict when components are likely to fail and schedule maintenance before breakdowns occur. This minimizes downtime and reduces repair costs.

Autonomous Operation: Certain off-highway vehicles are incorporating autonomous operation capabilities. These vehicles can perform tasks with minimal human intervention, improving safety and efficiency. Autonomous equipment is particularly valuable in environments where safety is a concern, such as mining and construction sites.

The demand for digitalization and connectivity in off-highway vehicles is driven by the objective to enhance equipment uptime, reduce operating costs, and improve safety. It also aligns with broader industry trends toward automation and data-driven decision-making. As technology continues to advance, further integration of digitalization and connectivity solutions can be expected in the off-highway vehicle engine market.

Segmental Insights

Engine Capacity Insights

The 5l-10l Engines segment holds a significant market share in the Global Off-Highway Vehicle Engine Market. Engines in this segment power a range of construction machinery, including medium-sized excavators, backhoes, wheel loaders, and motor graders. These machines demand ample power to handle excavation, material handling, and grading tasks efficiently.

Engines in this segment exhibit versatility and find applications across various industries, making them a valuable choice for manufacturers and end-users seeking flexibility. There is an increasing focus on fuel efficiency and emissions compliance within this segment. Manufacturers are developing engines with advanced technologies like common rail fuel injection, turbocharging, and exhaust aftertreatment systems to meet stringent emissions regulations.

Manufacturers are actively exploring hybrid and electric powertrain options in this segment to enhance fuel efficiency and reduce emissions. Hybrid systems are being increasingly integrated into medium-sized off-highway vehicles. The integration of telematics systems allows for remote monitoring, predictive maintenance, and data-driven decision-making, thereby enhancing equipment performance and uptime.

Manufacturers are also exploring hybrid and electric powertrain options in this segment to improve fuel efficiency and reduce emissions. Hybrid systems are increasingly being integrated into medium-sized off-highway vehicles. The integration of telematics systems enables remote monitoring, predictive maintenance, and data-driven decision-making, thereby enhancing equipment performance and uptime.

Fuel Type Insights

The Diesel segment holds a significant market share in the Global Off-Highway Vehicle Engine Market. The diesel segment holds a significant and enduring position in the global off-highway vehicle engine market. Diesel engines have long been preferred in off-highway applications due to their exceptional torque, fuel efficiency, and durability. Construction machinery, including excavators, bulldozers, loaders, and motor graders, commonly feature diesel engines due to their robustness and suitability for heavy-duty earthmoving and construction tasks.

Agricultural machinery, such as tractors, combine harvesters, and irrigation pumps, also rely on diesel-powered engines, benefiting from their fuel efficiency and ability to handle demanding farming operations. Diesel engines are renowned for their cost-effectiveness in long-duration operations and environments with limited refuelling options. With their ability to deliver high torque at low RPMs, these engines excel in heavy-duty tasks, including excavation, lifting, and hauling.

Manufacturers are consistently investing in emissions reduction technologies to comply with regulations while preserving the advantages of diesel engines. This includes integrating aftertreatment systems and optimizing combustion processes. Hybridization trends are emerging in the diesel segment, combining diesel engines with electric powertrains to enhance fuel efficiency and reduce emissions, particularly in applications with intermittent power demands. The integration of telematics systems enables remote monitoring, predictive maintenance, and data-driven insights, ultimately enhancing the efficiency and uptime of diesel-powered equipment.

 

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Regional Insights

The North America region is expected to dominate the market during the forecast period. This growth can be attributed to the increasing development of infrastructure, urbanization, and industrialization in countries such as China, India, Japan, and Southeast Asian nations.

Asia-Pacific serves as a significant manufacturing hub for off-highway vehicle engines, with many leading global engine manufacturers establishing production facilities in the region. This strategic move allows them to benefit from lower production costs and proximity to emerging markets. Moreover, countries in Asia-Pacific are progressively implementing stricter emissions regulations to address environmental concerns. Compliance with emissions standards, such as China's National VI and India's BS VI, has become a primary focus for off-highway vehicle engine manufacturers.

Technological advancements in off-highway vehicle engines are also taking place in the Asia-Pacific region. Manufacturers are actively investing in research and development to meet the demands of both local and global markets for more efficient and environmentally friendly engines.

With diverse off-highway vehicle applications ranging from agriculture and construction to mining and forestry, the Asia-Pacific region offers manufacturers opportunities to customize engines and equipment to meet specific requirements. This ability to provide specialized solutions tailored to local needs enhances market competitiveness. Additionally, the region is actively contributing to the development of electric and hybrid off-highway vehicles, driven by government incentives and the imperative to reduce emissions.

Recent Developments

  • Valvoline addressed the requirements of heavy-duty engines in September 2021 by launching a new product in mid-July. This product is specifically designed for heavy-duty diesel engines that operate in severe conditions and undergo extreme duty cycles.
  • In June 2021, Caterpillar Inc. and Nouveau Monde Graphite Inc. announced a strategic partnership. The objective of this collaboration is for Caterpillar Inc. to develop, test, and manufacture zero-emission machines under the Cat brand for the Matawinie graphite mine.
  • Cummins India, a subsidiary of the global company Cummins Inc., announced in January 2021 that it is ready to commence production of its advanced 4.5-liter engine system for wheeled equipment at its Pune plant.

Key Market Players

  • Caterpillar, Inc.
  • Cummins, Inc.
  • Deere & Company
  • J C Bamford Excavators Ltd.
  • Mahindra & Mahindra Ltd.
  • Scania AB
  • KUBOTA Corporation
  • Volkswagen AG
  • Hitachi Construction Machinery Co., Ltd.
  • Komatsu Ltd.

By Construction & Mining Equipment Engines Power Output

By Agriculture Tractor Engines Power Output

By Engine Capacity

By Fuel Type

By Region

  • <100 HP
  • 101-200 HP
  • 201-400 HP
  • >400 HP
  • <30 HP
  • 31-50 HP
  • 51-80 HP
  • 81-140 HP
  • >140 HP
  • <5l Engines
  • 5l-10l Engines
  • >10l Engines
  • Diesel
  • Gasoline
  • Others
  • North America
  • Europe
  • South America
  • Middle East & Africa
  • Asia Pacific

 

Report Scope:

In this report, the Global Off-Highway Vehicle Engine Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Global Off-Highway Vehicle Engine Market, By Construction & Mining Equipment Engines Power Output:

o   <100 HP

o   101-200 HP

o   201-400 HP

o   >400 HP           

  • Global Off-Highway Vehicle Engine Market, By Agriculture Tractor Engines Power Output:

o   <100 HP

o   101-200 HP

o   201-400 HP

o   >400 HP      

  • Global Off-Highway Vehicle Engine Market, By Engine Capacity:

o   <5l Engines

o   5l-10l Engines

o   >10l Engines                        

  • Global Off-Highway Vehicle Engine Market, By Fuel Type:

o   Diesel

o   Gasoline

o   Others           

  • Global Off-Highway Vehicle Engine Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Off-Highway Vehicle Engine Market.

Available Customizations:

Global Off-Highway Vehicle Engine Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Off-Highway Vehicle Engine Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

4.    Voice of Customers

5.    Global Off-Highway Vehicle Engine Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Construction & Mining Equipment Engines Power Output (<100 HP, 101-200 HP, 201-400 HP and >400 HP)

5.2.2.    By Agriculture Tractor Engines Power Output (<30 HP, 31-50 HP, 51-80 HP, 81-140 HP and >140 HP)

5.2.3.    By Engine Capacity (<5l Engines, 5l-10l Engines and >10l Engines)

5.2.4.    By Fuel Type (Diesel, Gasoline and Others)

5.3.  By Region

5.4.  By Company (2022)

5.5.  Market Map

6.    North America Off-Highway Vehicle Engine Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Construction & Mining Equipment Engines Power Output

6.2.2.    By Agriculture Tractor Engines Power Output

6.2.3.    By Engine Capacity

6.2.4.    By Fuel Type

6.2.5.    By Country

6.3.  North America: Country Analysis

6.3.1.    United States Off-Highway Vehicle Engine Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.            By Value 

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.            By Construction & Mining Equipment Engines Power Output

6.3.1.2.2.            By Agriculture Tractor Engines Power Output

6.3.1.2.3.            By Engine Capacity

6.3.1.2.4.            By Fuel Type

6.3.2.    Canada Off-Highway Vehicle Engine Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.            By Value 

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.            By Construction & Mining Equipment Engines Power Output

6.3.2.2.2.            By Agriculture Tractor Engines Power Output

6.3.2.2.3.            By Engine Capacity

6.3.2.2.4.            By Fuel Type

6.3.3.    Mexico Off-Highway Vehicle Engine Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.            By Value 

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.            By Construction & Mining Equipment Engines Power Output

6.3.3.2.2.            By Agriculture Tractor Engines Power Output

6.3.3.2.3.            By Engine Capacity

6.3.3.2.4.            By Fuel Type

7.    Asia-Pacific Off-Highway Vehicle Engine Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Construction & Mining Equipment Engines Power Output

7.2.2.    By Agriculture Tractor Engines Power Output

7.2.3.    By Engine Capacity

7.2.4.    By Fuel Type

7.2.5.    By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.    China Off-Highway Vehicle Engine Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.            By Value 

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.            By Construction & Mining Equipment Engines Power Output

7.3.1.2.2.            By Agriculture Tractor Engines Power Output

7.3.1.2.3.            By Engine Capacity

7.3.1.2.4.            By Fuel Type

7.3.2.    India Off-Highway Vehicle Engine Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.            By Value 

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.            By Construction & Mining Equipment Engines Power Output

7.3.2.2.2.            By Agriculture Tractor Engines Power Output

7.3.2.2.3.            By Engine Capacity

7.3.2.2.4.            By Fuel Type

7.3.3.    Japan Off-Highway Vehicle Engine Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.            By Value 

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.            By Construction & Mining Equipment Engines Power Output

7.3.3.2.2.            By Agriculture Tractor Engines Power Output

7.3.3.2.3.            By Engine Capacity

7.3.3.2.4.            By Fuel Type

7.3.4.    South Korea Off-Highway Vehicle Engine Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.            By Value 

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.            By Construction & Mining Equipment Engines Power Output

7.3.4.2.2.            By Agriculture Tractor Engines Power Output

7.3.4.2.3.            By Engine Capacity

7.3.4.2.4.            By Fuel Type

7.3.5.    Australia Off-Highway Vehicle Engine Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.            By Value 

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.            By Construction & Mining Equipment Engines Power Output

7.3.5.2.2.            By Agriculture Tractor Engines Power Output

7.3.5.2.3.            By Engine Capacity

7.3.5.2.4.            By Fuel Type

8.    Europe Off-Highway Vehicle Engine Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Construction & Mining Equipment Engines Power Output

8.2.2.    By Agriculture Tractor Engines Power Output

8.2.3.    By Engine Capacity

8.2.4.    By Fuel Type

8.2.5.    By Country

8.3.  Europe: Country Analysis

8.3.1.    Germany Off-Highway Vehicle Engine Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.            By Value 

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.            By Construction & Mining Equipment Engines Power Output

8.3.1.2.2.            By Agriculture Tractor Engines Power Output

8.3.1.2.3.            By Engine Capacity

8.3.1.2.4.            By Fuel Type

8.3.2.    United Kingdom Off-Highway Vehicle Engine Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.            By Value 

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.            By Construction & Mining Equipment Engines Power Output

8.3.2.2.2.            By Agriculture Tractor Engines Power Output

8.3.2.2.3.            By Engine Capacity

8.3.2.2.4.            By Fuel Type

8.3.3.    France Off-Highway Vehicle Engine Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.            By Value 

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.            By Construction & Mining Equipment Engines Power Output

8.3.3.2.2.            By Agriculture Tractor Engines Power Output

8.3.3.2.3.            By Engine Capacity

8.3.3.2.4.            By Fuel Type

8.3.4.    Italy Off-Highway Vehicle Engine Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.            By Value 

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.            By Construction & Mining Equipment Engines Power Output

8.3.4.2.2.            By Agriculture Tractor Engines Power Output

8.3.4.2.3.            By Engine Capacity

8.3.4.2.4.            By Fuel Type

8.3.5.    Spain Off-Highway Vehicle Engine Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.            By Value 

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.            By Construction & Mining Equipment Engines Power Output

8.3.5.2.2.            By Agriculture Tractor Engines Power Output

8.3.5.2.3.            By Engine Capacity

8.3.5.2.4.            By Fuel Type

9.    South America Off-Highway Vehicle Engine Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Construction & Mining Equipment Engines Power Output

9.2.2.    By Agriculture Tractor Engines Power Output

9.2.3.    By Fuel Type

9.2.4.    By Engine Capacity

9.2.5.    By Country

9.3.  South America: Country Analysis

9.3.1.    Brazil Off-Highway Vehicle Engine Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.            By Value 

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.            By Construction & Mining Equipment Engines Power Output

9.3.1.2.2.            By Agriculture Tractor Engines Power Output

9.3.1.2.3.            By Engine Capacity

9.3.1.2.4.            By Fuel Type

9.3.2.    Argentina Off-Highway Vehicle Engine Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.            By Value 

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.            By Construction & Mining Equipment Engines Power Output

9.3.2.2.2.            By Agriculture Tractor Engines Power Output

9.3.2.2.3.            By Engine Capacity

9.3.2.2.4.            By Fuel Type

9.3.3.    Colombia Off-Highway Vehicle Engine Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.            By Value 

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.            By Construction & Mining Equipment Engines Power Output

9.3.3.2.2.            By Agriculture Tractor Engines Power Output

9.3.3.2.3.            By Engine Capacity

9.3.3.2.4.            By Fuel Type

10.  Middle East & Africa Off-Highway Vehicle Engine Market Outlook

10.1.   Market Size & Forecast

10.1.1. By Value

10.2.   Market Share & Forecast

10.2.1. By Construction & Mining Equipment Engines Power Output

10.2.2. By Agriculture Tractor Engines Power Output

10.2.3. By Fuel Type

10.2.4. By Engine Capacity

10.2.5. By Country

10.3.   Middle East & Africa: Country Analysis

10.3.1. Saudi Arabia Off-Highway Vehicle Engine Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Construction & Mining Equipment Engines Power Output

10.3.1.2.2.         By Agriculture Tractor Engines Power Output

10.3.1.2.3.         By Engine Capacity

10.3.1.2.4.         By Fuel Type

10.3.2. South Africa Off-Highway Vehicle Engine Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Construction & Mining Equipment Engines Power Output

10.3.2.2.2.         By Agriculture Tractor Engines Power Output

10.3.2.2.3.         By Engine Capacity

10.3.2.2.4.         By Fuel Type

10.3.3. UAE Off-Highway Vehicle Engine Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value 

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Construction & Mining Equipment Engines Power Output

10.3.3.2.2.         By Agriculture Tractor Engines Power Output

10.3.3.2.3.         By Engine Capacity

10.3.3.2.4.         By Fuel Type

11.  Market Dynamics

11.1.   Drivers

11.2.   Challenge

12.  Market Trends & Developments

13.  Company Profiles

13.1.   Caterpillar, Inc.

13.1.1. Business Overview

13.1.2. Key Revenue and Financials

13.1.3. Recent Developments

13.1.4. Key Personnel

13.1.5. Key Product/Services

13.2.   Cummins, Inc.

13.2.1. Business Overview

13.2.2. Key Revenue and Financials

13.2.3. Recent Developments

13.2.4. Key Personnel

13.2.5. Key Product/Services

13.3.   Deere & Company

13.3.1. Business Overview

13.3.2. Key Revenue and Financials

13.3.3. Recent Developments

13.3.4. Key Personnel

13.3.5. Key Product/Services

13.4.   J C Bamford Excavators Ltd.

13.4.1. Business Overview

13.4.2. Key Revenue and Financials

13.4.3. Recent Developments

13.4.4. Key Personnel

13.4.5. Key Product/Services

13.5.   Mahindra & Mahindra Ltd.

13.5.1. Business Overview

13.5.2. Key Revenue and Financials

13.5.3. Recent Developments

13.5.4. Key Personnel

13.5.5. Key Product/Services

13.6.   Scania AB

13.6.1. Business Overview

13.6.2. Key Revenue and Financials

13.6.3. Recent Developments

13.6.4. Key Personnel

13.6.5. Key Product/Services

13.7.   KUBOTA Corporation

13.7.1. Business Overview

13.7.2. Key Revenue and Financials

13.7.3. Recent Developments

13.7.4. Key Personnel

13.7.5. Key Product/Services

13.8.   Volkswagen AG

13.8.1. Business Overview

13.8.2. Key Revenue and Financials

13.8.3. Recent Developments

13.8.4. Key Personnel

13.8.5. Key Product/Services

13.9.   Hitachi Construction Machinery Co., Ltd.

13.9.1. Business Overview

13.9.2. Key Revenue and Financials

13.9.3. Recent Developments

13.9.4. Key Personnel

13.9.5. Key Product/Services

13.10. Komatsu Ltd.

13.10.1.               Business Overview

13.10.2.               Key Revenue and Financials

13.10.3.               Recent Developments

13.10.4.               Key Personnel

13.10.5.               Key Product/Services

14.  Strategic Recommendations

15. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Off-Highway Vehicle Engine Market was USD 29.61 billion in 2022.

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Diesel segment was the dominant segment in the Global Off-Highway Vehicle Engine Market in 2022. The diesel segment holds a significant and enduring position in the global off-highway vehicle engine market. Diesel engines have long been preferred in off-highway applications due to their exceptional torque, fuel efficiency, and durability. Construction machinery, including excavators, bulldozers, loaders, and motor graders, commonly feature diesel engines due to their robustness and suitability for heavy-duty earthmoving and construction tasks.

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Market Volatility and Economic Uncertainty is one of the challenges of Global Off-Highway Vehicle Engine Market.

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Expansion of Agriculture and Forestry Sectors is one of the drivers of Global Off-Highway Vehicle Engine Market.

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Parvati Sharma

Account Manager BD
Press Release

Off-Highway Vehicle Engine Market is expected to grow at a robust CAGR

Sep, 2023

Global Off-Highway Vehicle Engine Market is expected to grow owing to increasing agricultural activities to meet rising food demands for growing populations throughout the forecast period.