Global Off Highway Vehicle Engine Market to Reach USD 69.8 Billion by 2033, Fueled by Increasing Demand for OHV for Multifarious Applications

January 02, 2025 | Automotive Industry

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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 2025-2033,” the global off highway vehicle engine market size reached USD 44.8 Billion in 2024. 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 USD 69.8 Billion by 2033, expanding at a CAGR of 4.81% during 2025-2033.

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	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
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
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)

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Global Off Highway Vehicle Engine Market to Reach USD 69.8 Billion by 2033, Fueled by Increasing Demand for OHV for Multifarious Applications

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