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Pulished Date August, 2021
ID: 10091
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Off-Highway Electric Vehicle Market segmentation By Equipment (Dump truck, Dozer, Excavator, Motor Grader, LHD, Loader, Lawn Mower, Sprayer, Tractor), By Battery Type (Lithium Ion, Nickel Metal Hydride, Lead-Acid, Others), By Battery Capacity (<50 Kwh, 50-200 Kwh, 200-500 Kwh, >500 Kwh), By Propulsion Type (Battery Electric, Hybrid Electric), By Power Output (<50 Hp, 50-150 Hp, 150-300 Hp, >300 Hp) and Region- Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2021-2026

Pulished: August, 2021
ID: 10091
Pages: 175

Off-highway Electric Vehicle Market Overview:

Off-highway Electric Vehicle Market is projected to succeed in USD 29,807 million by 2027 from USD 4,937 million in 2021. The market is going to observe a sound CAGR of 24.98% within the estimated time of 2021-2027.

An electric vehicle may be a vehicle which is powered entirely or partially by electricity. They utilize at least one electric engine for impetus purposes. They usually store energy within the battery. Different batteries like lithium- ion, lead acid, and nickel metal hybrid are utilized in these electric vehicles. A number of the common off highway EV equipment are dumper, loafer, mower, sprayer, and others. Rough terrain hybrid vehicles are furnished with a diesel and a therapeutic vitality stockpiling framework to improve eco-friendliness.

Quick infrastructural improvement and modified government standards related with development exercises are driving the off-roadway electric vehicle market in these nations. The mining industry is also increasing the adoption of these vehicles, promoting the worldwide market.

Off-Highway Electric Vehicle Market

Recent Developments:

  • Trimble and Hitachi Construction Machinery Loaders America Inc. (HCMA) declared the supply of Trimble LOADRITE L3180 SmartScale as an alternative on Hitachi Wheel Loaders in the U.S.
  • Hitachi Construction Machinery Co., Ltd. presented that it built up a battery-fueled small scale excavator model (5-ton class) in order to decide electric development apparatus innovation for a market which is anticipated to quickly start inside what's to come.
  • Caterpillar to manufacture 98-ton rough terrain trucks in India. Caterpillar also introduced Cat 773E and 777E Off-Highway trucks for viewing of customer in International Mining and Machinery Exhibition (IMME).
  • Kuhn Schweiz and Lithium Storage were ready to create, ranging from a KOMATSU dumper, an enormous electric vehicle of 45 tons, for structure and mining industry. These companies have developed the “E-Dumper”, the electrical dumper that can carry large quantities over shorter distances.

Drivers and Restraints of Off-Highway Electric Vehicle Market:

Drivers:

• They make less vibration and commotion which can drive the market development.

• Increasing awareness about the environmental benefits of EV will also accelerate the market   growth.

• Low cost of upgrade is another factor growing the expansion of the market within the forecast period.

• The efficiency of off-highway electric vehicle also hikes the demand of the market.

Restraints:

  •  The high investment cost of electric vehicles will hinder the growth of the market.
  •  The lack of availability of charging stations will also limit the market.
  •  The lower acceptance of electric vehicles by the population is another factor limiting this growth in the market.

Market Segmentation:

By Equipment:

  • Dump Truck
  • Dozer
  • Excavator
  • Motor Grader
  • LHD
  • Loader
  • Lawn Mower
  • Sprayer
  • Tractor 

Growing environmental concerns and awareness of the harmful effects of kit emissions have forced engine and equipment manufacturers to develop engines that suits emission norms. On the other hand, the need to suits severe discharge standards has moved the primary objective of producers on electrical gear.

By Battery Type:

  • Lithium- ion
  • Nickel Metal Hydride
  • Lead- Acid
  • Others

By Battery Capacity:

  • <50 Kwh
  • 50–200 Kwh
  • 200–500 Kwh
  • >500 Kwh

The 50-200 kWh fragment of off-highway electric vehicles is anticipated to represent the second-biggest market cost in 2019, because of the upper interest for little and mid-extend off-parkway gear in nations like China, India, and along these lines the US.

By Propulsion Type:

  • Battery Electric
  • Hybrid Electric

By Power Output:

  • <50 Hp
  • 50–150 Hp
  • 150–300 Hp
  • >300 Hp

Most of the hybrid and electric off-highway vehicles are equipped with one or sometimes two electric motors, counting on vehicle specifications. As of now, charge is basically seen in little and reduced vehicles. Motors generating an output of less than 50 Hp are generally utilized in small off-highway electric and hybrid vehicles. These sorts of electric and hybrid off-highway vehicles have the most important market in Europe

Off-Highway Electric Vehicle Market Region wise analysis:

Market Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada
  2. Europe
    1. Norway
    2. Germany
    3. Sweden
  3. Asia Pacific
    1. China
    2. India
    3. Japan
  4. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  5. Middle East and Africa

a. Middle East

b. Africa

North America is anticipated to direct the off-highway electric vehicle market, in terms of value, during the conjecture time frame. The turn of events and mining gear request in North America is anticipated to stretch out gratitude to measures embraced by the US that have expanded the interest for locally removed minerals and foundation improvement. The US is evaluated to be the most significant commercial center for off-roadway electric vehicles in North America. Furthermore, with up and coming rigid outflow standards for efficiency inside the nation, organizations invest more energy to fabricate electric and mixture gear for the household market. The development business has seen generous development in rising economies like China and India. The expanding interest for plastic is anticipated to drive the interest for development gear over the world. Rapid improvement of infrastructure and revised government regulations associated with construction activities are driving the market for off-highway electric vehicles in these countries. In addition to the development industry, the mining industry has also shown significant growth in recent years.

IMPACT OF COVID-19 ON OFF-HIGHWAY ELECTRIC VEHICLE MARKET:

The COVID-19 pandemic is stretching its wings around the world, affecting almost all the end-user applications, including automobiles. The acts of lock down and factory shutdowns to curb the spread of disease had a great impact on the manufacturing and sales of vehicles around the world. It has been reported that almost 50% decline has been witnessed in the automotive sector during the first quarter of 2020 that is anticipated to take years to recover.

Key Players of Market:

Major players of this market are:

  • Hitachi Construction Machinery
  • Caterpillar
  • Komatsu
  • JCB
  • Volvo Construction Equipment
  • Deere & Company
  • CNH Industrial
  • Sandvik
  • Liebherr
  • Epiroc
  • Terex
  • Deutz AG
  • Atlas Copco
  • Fendt
  • Husqvarna
  • Stihl Holding AG and Co. Kg
  • Exel Industries

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Off-Highway Electric Vehicle Market, By Equipment                  

                    6.1.1 Dump Truck  

                    6.1.2 Dozer  

                    6.1.3 Excavator      

                    6.1.4 Motor Grader 

                    6.1.5 LHD    

                    6.1.6 Loader 

                    6.1.7 Lawn Mower  

                    6.1.8 Sprayer

                    6.1.9 Tractor          

                    6.1.10 Market Size Estimations & Forecasts (2019-2024)      

                    6.1.11 Y-o-Y Growth Rate Analysis       

                    6.1.12 Market Attractiveness Index       

          6.2 Off-Highway Electric Vehicle Market, By Battery Type               

                    6.2.1 Lithium- ion  

                    6.2.2 Nickel Metal Hydride

                    6.2.3 Lead- Acid     

                    6.2.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.2.5 Y-o-Y Growth Rate Analysis         

                    6.2.6 Market Attractiveness Index         

          6.3 Off-Highway Electric Vehicle Market, By Battery Capacity          

                    6.3.1 <50 Kwh       

                    6.3.2 50–200 Kwh  

                    6.3.3 200–500 Kwh

                    6.3.4 >500 Kwh     

                    6.3.5 Market Size Estimations & Forecasts (2019-2024)        

                    6.3.6 Y-o-Y Growth Rate Analysis         

                    6.3.7 Market Attractiveness Index         

          6.4 Off-Highway Electric Vehicle Market, By Propulsion Type          

                    6.4.1 Battery Electric         

                    6.4.2 Hybrid Electric         

                    6.4.3 Market Size Estimations & Forecasts (2019-2024)        

                    6.4.4 Y-o-Y Growth Rate Analysis         

                    6.4.5 Market Attractiveness Index         

          6.5 Off-Highway Electric Vehicle Market, By Power Output              

                    6.5.1 <50 Hp         

                    6.5.2 50–150 Hp    

                    6.5.3 150–300 Hp  

                    6.5.4 >300 Hp       

                    6.5.5 Market Size Estimations & Forecasts (2019-2024)        

                    6.5.6 Y-o-Y Growth Rate Analysis         

                    6.5.7 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Equipment 

                    7.2.3 By Battery Type        

                    7.2.4 By Battery Capacity   

                    7.2.5 By Propulsion Type  

                    7.2.6 By Power Output      

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Equipment 

                    7.3.3 By Battery Type        

                    7.3.4 By Battery Capacity   

                    7.3.5 By Propulsion Type  

                    7.3.6 By Power Output      

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Equipment 

                    7.4.3 By Battery Type        

                    7.4.4 By Battery Capacity   

                    7.4.5 By Propulsion Type  

                    7.4.6 By Power Output      

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Equipment 

                    7.5.3 By Battery Type        

                    7.5.4 By Battery Capacity   

                    7.5.5 By Propulsion Type  

                    7.5.6 By Power Output      

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Equipment 

                    7.6.3 By Battery Type        

                    7.6.4 By Battery Capacity   

                    7.6.5 By Propulsion Type  

                    7.6.6 By Power Output      

8. Key Player Analysis                           

          8.1 Hitachi Construction Machinery                 

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Caterpillar                  

          8.3 Komatsu          

          8.4 JCB                   

          8.5 Volvo Construction Equipment                  

          8.6 Deere & Company                 

          8.7 CNH Industrial            

          8.8 Sandvik            

          8.9 Liebherr           

          8.10 Epiroc             

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms By Cutting Systems and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Off-Highway Electric Vehicle Market By Region, From 2021-2026 ( USD Billion )
  2. Global Off-Highway Electric Vehicle Market By Equipment, From 2021-2026 ( USD Billion )
  3. Global Dump Truck Market By Region, From 2021-2026 ( USD Billion )
  4. Global Dozer Market By Region, From 2021-2026 ( USD Billion )
  5. Global Excavator Market By Region, From 2021-2026 ( USD Billion )
  6. Global Motor Grader Market By Region, From 2021-2026 ( USD Billion )
  7. Global LHD Market By Region, From 2021-2026 ( USD Billion )
  8. Global Loader Market By Region, From 2021-2026 ( USD Billion )
  9. Global Lawn Mower Market By Region, From 2021-2026 ( USD Billion )
  10. Global Sprayer Market By Region, From 2021-2026 ( USD Billion )
  11. Global Tractor  Market By Region, From 2021-2026 ( USD Billion )
  12. Global Off-Highway Electric Vehicle Market By Battery Type, From 2021-2026 ( USD Billion )
  13. Global Lithium- ion Market By Region, From 2021-2026 ( USD Billion )
  14. Global Nickel Metal Hydride Market By Region, From 2021-2026 ( USD Billion )
  15. Global Lead- Acid Market By Region, From 2021-2026 ( USD Billion )
  16. Global Off-Highway Electric Vehicle Market By Battery Capacity, From 2021-2026 ( USD Billion )
  17. Global <50 Kwh Market By Region, From 2021-2026 ( USD Billion )
  18. Global 50–200 Kwh Market By Region, From 2021-2026 ( USD Billion )
  19. Global 200–500 Kwh Market By Region, From 2021-2026 ( USD Billion )
  20. Global >500 Kwh Market By Region, From 2021-2026 ( USD Billion )
  21. Global Off-Highway Electric Vehicle Market By Propulsion Type, From 2021-2026 ( USD Billion )
  22. Global Battery Electric Market By Region, From 2021-2026 ( USD Billion )
  23. Global Hybrid Electric Market By Region, From 2021-2026 ( USD Billion )
  24. Global Off-Highway Electric Vehicle Market By Power Output, From 2021-2026 ( USD Billion )
  25. Global <50 Hp Market By Region, From 2021-2026 ( USD Billion )
  26. Global 50–150 Hp Market By Region, From 2021-2026 ( USD Billion )
  27. Global 150–300 Hp Market By Region, From 2021-2026 ( USD Billion )
  28. Global >300 Hp Market By Region, From 2021-2026 ( USD Billion )

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