The Off-highway Vehicle Engine Market is expected to register a CAGR of 7.61% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The Off-highway Vehicle Engine Market Report is segmented by Machinery Type, including Construction Machinery, Agricultural Machinery, and Mining Machinery. It is also segmented by Fuel Type into Diesel, Gasoline, and Others. The market is analyzed by End-User sectors such as Construction, Agriculture, and Mining. The regional analysis includes key countries with insights into the global landscape. The market evaluation is presented in US$ for the above segmental analysis, with projections through 2031.
Purpose of the ReportThe report Off-highway Vehicle Engine Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Off-highway Vehicle Engine Market Segmentation
Machinery- Construction
- Agricultural
- Diesel
- Gasoline
Strategic Insights
Off-highway Vehicle Engine Market Growth Drivers- Agricultural and Construction Boom: The increasing growth in agricultural, construction, and mining sectors necessitates off-highway vehicles, which demands a strong engine.
- Technological innovation in engine design: Technologies like turbocharging, hybrid technologies, and even more fuel-efficient designs of engines shape the growth of this market.
- Regulatory Pressure on Emissions: The strict emission regulations are driving research into much more amiable engines, thereby changing the dynamics of the market
- Electrification and Hybrid Engines: The concern for the environment is increasingly becoming a matter of growing interest for the manufacturers which are developing electric and hybrid engines off-highway vehicles.
- Telematics and Digitalization: In the off-highway domain, telematics and digital systems are more commonly used to integrate them into more precise monitoring of the engine and for predictive maintenance.
- Fuel Consumption Consciousness: Fuel-efficient engine design is increasingly in vogue as fuel costs rise, and an effective operation or project outlays have to minimize its expenditure in the process in construction as well as mining.
- Electric & hybrid engine adoption: An opportunity exists to capture markets seeking to reduce environmental footprint through electric and hybrid off-highway machines.
- Emerging markets growth: Most of the big growth would have to come from the development economies of Asia-Pacific and Latin America; that is, once again, a behemoth size opportunity for off-highway vehicle manufacturers.
- Engine Power Customization: Differentiation of the engines toward particular industries to be used in construction and mining where more torque is needed to open up space for growth.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Off-highway Vehicle Engine Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Off-highway Vehicle Engine Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The key players involved are AB Volvo, Caterpillar Inc., Cummins Inc., Deere & Company, DEUTZ AG, Komatsu Ltd., KUBOTA Corporation, Mahindra & Mahindra Ltd., Mahindra Powertrain Division, Man SE, YANMAR CO., LTD.,
The market is expected to register a CAGR of 7.61% during 2023–2031.
Key trends in the market include clean and efficient engines and adoption of high-level technologies like hybrid powertrains.
Increased infrastructure projects, mechanization in agriculture, and demand for fuel-efficient and eco-friendly engines are the major drivers of the market.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Off-highway Vehicle Engine Market - By Machinery
1.3.2 Off-highway Vehicle Engine Market - By Fuel Type
1.3.3 Off-highway Vehicle Engine Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. OFF-HIGHWAY VEHICLE ENGINE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat to Substitute
4.2.1 Threat to New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. OFF-HIGHWAY VEHICLE ENGINE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. OFF-HIGHWAY VEHICLE ENGINE MARKET - GLOBAL MARKET ANALYSIS
6.1. OFF-HIGHWAY VEHICLE ENGINE - GLOBAL MARKET OVERVIEW
6.2. OFF-HIGHWAY VEHICLE ENGINE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. OFF-HIGHWAY VEHICLE ENGINE MARKET - REVENUE AND FORECASTS TO 2028 - MACHINERY
7.1. OVERVIEW
7.2. MACHINERY MARKET FORECASTS AND ANALYSIS
7.3. CONSTRUCTION
7.3.1. Overview
7.3.2. Construction Market Forecast and Analysis
7.4. AGRICULTURAL
7.4.1. Overview
7.4.2. Agricultural Market Forecast and Analysis
8. OFF-HIGHWAY VEHICLE ENGINE MARKET - REVENUE AND FORECASTS TO 2028 - FUEL TYPE
8.1. OVERVIEW
8.2. FUEL TYPE MARKET FORECASTS AND ANALYSIS
8.3. DIESEL
8.3.1. Overview
8.3.2. Diesel Market Forecast and Analysis
8.4. GASOLINE
8.4.1. Overview
8.4.2. Gasoline Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. OFF-HIGHWAY VEHICLE ENGINE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Off-highway Vehicle Engine Market Overview
9.1.2 North America Off-highway Vehicle Engine Market Forecasts and Analysis
9.1.3 North America Off-highway Vehicle Engine Market Forecasts and Analysis - By Machinery
9.1.4 North America Off-highway Vehicle Engine Market Forecasts and Analysis - By Fuel Type
9.1.5 North America Off-highway Vehicle Engine Market Forecasts and Analysis - By Countries
9.1.5.1 United States Off-highway Vehicle Engine Market
9.1.5.1.1 United States Off-highway Vehicle Engine Market by Machinery
9.1.5.1.2 United States Off-highway Vehicle Engine Market by Fuel Type
9.1.5.2 Canada Off-highway Vehicle Engine Market
9.1.5.2.1 Canada Off-highway Vehicle Engine Market by Machinery
9.1.5.2.2 Canada Off-highway Vehicle Engine Market by Fuel Type
9.1.5.3 Mexico Off-highway Vehicle Engine Market
9.1.5.3.1 Mexico Off-highway Vehicle Engine Market by Machinery
9.1.5.3.2 Mexico Off-highway Vehicle Engine Market by Fuel Type
9.2. EUROPE
9.2.1 Europe Off-highway Vehicle Engine Market Overview
9.2.2 Europe Off-highway Vehicle Engine Market Forecasts and Analysis
9.2.3 Europe Off-highway Vehicle Engine Market Forecasts and Analysis - By Machinery
9.2.4 Europe Off-highway Vehicle Engine Market Forecasts and Analysis - By Fuel Type
9.2.5 Europe Off-highway Vehicle Engine Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Off-highway Vehicle Engine Market
9.2.5.1.1 Germany Off-highway Vehicle Engine Market by Machinery
9.2.5.1.2 Germany Off-highway Vehicle Engine Market by Fuel Type
9.2.5.2 France Off-highway Vehicle Engine Market
9.2.5.2.1 France Off-highway Vehicle Engine Market by Machinery
9.2.5.2.2 France Off-highway Vehicle Engine Market by Fuel Type
9.2.5.3 Italy Off-highway Vehicle Engine Market
9.2.5.3.1 Italy Off-highway Vehicle Engine Market by Machinery
9.2.5.3.2 Italy Off-highway Vehicle Engine Market by Fuel Type
9.2.5.4 United Kingdom Off-highway Vehicle Engine Market
9.2.5.4.1 United Kingdom Off-highway Vehicle Engine Market by Machinery
9.2.5.4.2 United Kingdom Off-highway Vehicle Engine Market by Fuel Type
9.2.5.5 Russia Off-highway Vehicle Engine Market
9.2.5.5.1 Russia Off-highway Vehicle Engine Market by Machinery
9.2.5.5.2 Russia Off-highway Vehicle Engine Market by Fuel Type
9.2.5.6 Rest of Europe Off-highway Vehicle Engine Market
9.2.5.6.1 Rest of Europe Off-highway Vehicle Engine Market by Machinery
9.2.5.6.2 Rest of Europe Off-highway Vehicle Engine Market by Fuel Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Off-highway Vehicle Engine Market Overview
9.3.2 Asia-Pacific Off-highway Vehicle Engine Market Forecasts and Analysis
9.3.3 Asia-Pacific Off-highway Vehicle Engine Market Forecasts and Analysis - By Machinery
9.3.4 Asia-Pacific Off-highway Vehicle Engine Market Forecasts and Analysis - By Fuel Type
9.3.5 Asia-Pacific Off-highway Vehicle Engine Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Off-highway Vehicle Engine Market
9.3.5.1.1 Australia Off-highway Vehicle Engine Market by Machinery
9.3.5.1.2 Australia Off-highway Vehicle Engine Market by Fuel Type
9.3.5.2 China Off-highway Vehicle Engine Market
9.3.5.2.1 China Off-highway Vehicle Engine Market by Machinery
9.3.5.2.2 China Off-highway Vehicle Engine Market by Fuel Type
9.3.5.3 India Off-highway Vehicle Engine Market
9.3.5.3.1 India Off-highway Vehicle Engine Market by Machinery
9.3.5.3.2 India Off-highway Vehicle Engine Market by Fuel Type
9.3.5.4 Japan Off-highway Vehicle Engine Market
9.3.5.4.1 Japan Off-highway Vehicle Engine Market by Machinery
9.3.5.4.2 Japan Off-highway Vehicle Engine Market by Fuel Type
9.3.5.5 South Korea Off-highway Vehicle Engine Market
9.3.5.5.1 South Korea Off-highway Vehicle Engine Market by Machinery
9.3.5.5.2 South Korea Off-highway Vehicle Engine Market by Fuel Type
9.3.5.6 Rest of Asia-Pacific Off-highway Vehicle Engine Market
9.3.5.6.1 Rest of Asia-Pacific Off-highway Vehicle Engine Market by Machinery
9.3.5.6.2 Rest of Asia-Pacific Off-highway Vehicle Engine Market by Fuel Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Off-highway Vehicle Engine Market Overview
9.4.2 Middle East and Africa Off-highway Vehicle Engine Market Forecasts and Analysis
9.4.3 Middle East and Africa Off-highway Vehicle Engine Market Forecasts and Analysis - By Machinery
9.4.4 Middle East and Africa Off-highway Vehicle Engine Market Forecasts and Analysis - By Fuel Type
9.4.5 Middle East and Africa Off-highway Vehicle Engine Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Off-highway Vehicle Engine Market
9.4.5.1.1 South Africa Off-highway Vehicle Engine Market by Machinery
9.4.5.1.2 South Africa Off-highway Vehicle Engine Market by Fuel Type
9.4.5.2 Saudi Arabia Off-highway Vehicle Engine Market
9.4.5.2.1 Saudi Arabia Off-highway Vehicle Engine Market by Machinery
9.4.5.2.2 Saudi Arabia Off-highway Vehicle Engine Market by Fuel Type
9.4.5.3 U.A.E Off-highway Vehicle Engine Market
9.4.5.3.1 U.A.E Off-highway Vehicle Engine Market by Machinery
9.4.5.3.2 U.A.E Off-highway Vehicle Engine Market by Fuel Type
9.4.5.4 Rest of Middle East and Africa Off-highway Vehicle Engine Market
9.4.5.4.1 Rest of Middle East and Africa Off-highway Vehicle Engine Market by Machinery
9.4.5.4.2 Rest of Middle East and Africa Off-highway Vehicle Engine Market by Fuel Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Off-highway Vehicle Engine Market Overview
9.5.2 South and Central America Off-highway Vehicle Engine Market Forecasts and Analysis
9.5.3 South and Central America Off-highway Vehicle Engine Market Forecasts and Analysis - By Machinery
9.5.4 South and Central America Off-highway Vehicle Engine Market Forecasts and Analysis - By Fuel Type
9.5.5 South and Central America Off-highway Vehicle Engine Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Off-highway Vehicle Engine Market
9.5.5.1.1 Brazil Off-highway Vehicle Engine Market by Machinery
9.5.5.1.2 Brazil Off-highway Vehicle Engine Market by Fuel Type
9.5.5.2 Argentina Off-highway Vehicle Engine Market
9.5.5.2.1 Argentina Off-highway Vehicle Engine Market by Machinery
9.5.5.2.2 Argentina Off-highway Vehicle Engine Market by Fuel Type
9.5.5.3 Rest of South and Central America Off-highway Vehicle Engine Market
9.5.5.3.1 Rest of South and Central America Off-highway Vehicle Engine Market by Machinery
9.5.5.3.2 Rest of South and Central America Off-highway Vehicle Engine Market by Fuel Type
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. OFF-HIGHWAY VEHICLE ENGINE MARKET, KEY COMPANY PROFILES
11.1. AB VOLVO
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. CATERPILLAR INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CUMMINS INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. DEERE AND COMPANY
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. DEUTZ AG
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. KOMATSU LTD.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. KUBOTA CORPORATION
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. MAHINDRA AND MAHINDRA LTD., MAHINDRA POWERTRAIN DIVISION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. MAN SE
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. YANMAR CO., LTD.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.AB Volvo
2.Caterpillar Inc.
3.Cummins Inc.
4.Deere and Company
5.DEUTZ AG
6.Komatsu Ltd.
7.KUBOTA Corporation
8.Mahindra and Mahindra Ltd., Mahindra Powertrain Division
9.Man SE
10.YANMAR CO., LTD.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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