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

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

Report Format: PDF+Excel | Report ID: SR112024A5800
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Market Overview:

The global off highway vehicle engine market size reached USD 42.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 67.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.1% during 2024-2032.

Report Attribute
 Key Statistics 
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
USD 42.6 Billion
Market Forecast in 2032
USD 67.0 Billion
Market Growth Rate 2024-2032 5.1%


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 2024-2032. 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 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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)

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?

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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
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