The off-highway vehicle Engine market is mainly driven by the stringent emission norms, increasing mechanization in agriculture industry, and growing infrastructure activities across the globe. Off-highway engines are designed and developed for vehicles intended for operation on rough terrain or for off-highway activities, especially for construction & mining and agriculture. The continuous growth in socio-economic conditions has fueled the growth of construction and agriculture industry across the globe.

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The off-highway vehicle engine market size is projected to grow at a promising CAGR of 7.65% during the forecast period, to reach $38.93 billion by 2020.

The report covers the off-highway vehicle engine market, in terms of volume (‘000 units) and value (USD Million). It explains the qualitative and quantitative aspects of the off-highway vehicle engine market on the basis of region, power output, engine capacity, end-use industry, and fuel type from 2015 to 2020.

The off-highway vehicle engine ecosystem consists of engine manufacturers such as Caterpillar Inc. (U.S.), Cummins Inc. (U.S.), Deutz AG (Germany), and Kubota Corporation (Japan), the construction equipment manufacturers such as J. C. Bamford Excavators Ltd. (U.K.), Deere and Company (U.S.) and Hitachi Construction Machinery Co. Ltd. (Japan), agricultural tractor manufacturers such as AGCO Corporation (U.S.), Mahindra and Mahindra Ltd. (India) and Massey Ferguson Ltd (U.S.).

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Increase in mechanization drives the agriculture tractors demand positively impacting the off-highway engines market

The agriculture tractor engine market is dominated by the <5L engine as majority of the agriculture tractors uses <5L engines. The major markets for agriculture tractor are China, India, and Indonesia where light or medium duty tractors are primarily used which are equipped with <5L engines. This is due to the size of the farm lands per farmer in this region is small as compared to the North American and European farm lands. The farmers in country like India have small farm lands where they either use cattle to plough farms or uses light duty tractors. Therefore, as demand for light or medium duty tractors is highest in high-volume markets such as India and China, the demand for <5L engines is the largest globally

Some of The Key Questions Answered In This Report Are Listed Below:

• Which new regions, engines manufacturers are exploring for potential business avenues?


• Which are the key players in the market and how intense is the competition?


• Where will all these developments take the industry in the mid to long term?


• How will the new advancement affect the off-highway engines market?


 

Growth in infrastructure activities: Key driver Construction Engines

The construction industry across the globe has grown significantly since past few years. In its 2015 budget, the Chinese government increased its expenditure for the infrastructure development by 4.4% over previous year, while according to the U.S. Census Bureau, private construction spending reached around USD 687 Billion in 2014. In Asia-Oceania, the Chinese infrastructure investments reached USD 1.8 Trillion in 2013, making it the largest construction market in 2013. In 2015, China authorized its policy banks to issue new infrastructure bonds worth USD 48 Billion. The money is slated to be used in housing, pipeline infrastructure, and other domestic projects.

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