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Pulished Date April, 2021
ID: 9826
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Off-Road 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), By Electric Tractor Equipment (Lawn Mower, Sprayer, Tractor)- Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2021-2026

Pulished: April, 2021
ID: 9826
Pages: 175

Market Overview:

The global off-road highway electric vehicle market is projected to succeed in USD 29.8 billion by 2027, from USD 4.9 billion in 2021. The market is about to witness a healthy CAGR of 24.98% within the forecast period of 2021-2027.

An electric vehicle is powered entirely or partially by electricity, and they use one or more electric motors for propulsion, storing energy within the battery. Different batteries like lithium-ion, lead-acid, and nickel-metal hybrid are utilized in these vehicles. A number of the conventional Off-Road Highway EV equipment are dumper, Lhd, mower, sprayer, and others. Off-road hybrid electric cars are powered with a diesel and a restorative energy storage system to enhance fuel efficiency.

Rapid infrastructural development and revised government norms associated with construction activities are driving the off-road highway electric vehicle market in these countries. Aside from the development industry, the mining industry has also shown significant growth within the recent past. 

Recent Developments:

· Trimble and Hitachi Construction Machinery Loaders America Inc. (HCMA) announce the supply of Trimble LOADRITE L3180 SmartScale as an option on Hitachi Wheel Loaders within the US.  

Hitachi Construction Machinery Co., Ltd. introduced that it developed a battery-powered mini excavator prototype (5-ton class) so as to determine electric construction machinery technology for a market which is predicted to begin within the future rapidly.

· Caterpillar to build 98-tonne off-road trucks in India. Caterpillar advertises their Cat 773E and 777E Off-Road Highway trucks to the consumer in the International Mining & Machinery Exhibition (IMME) held in the city

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 two Swiss companies have created the “E-Dumper”, the electrical version of a dumper which transports large quantities of products over short distances.

Drivers and Restraints of Off-Road Highway Electric Vehicle Market:

Drivers:

• They create less vibration and noise, which can drive the market growth.

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

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

• The efficiency of the Off-Road Highway electric vehicle also hikes the demand of the market.

Restraints:

  • High investment cost of EV will hamper market growth.
  • Unavailability of charging stations also will restrain the market.
  • Less acceptance of electric vehicles among the population is another factor restricting this market growth.

Market Segmentation:

By Equipment:

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

Growing environmental concerns and awareness about the hazardous effects of kit emissions have forced engine and equipment manufacturers to develop engines that suit emission norms. Alternatively, the necessity to suits stringent emission norms has shifted the main target of manufacturers on electrical equipment.

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 segment of Off-Road Highway electric vehicles market accounted for the second-largest market price in 2019, due to the upper demand for small- and mid-range Off-Road Highway equipment in countries like China, India, and therefore 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-Road Highway vehicles include one or two electric motors, counting on vehicle features. As of now, electrification is primarily observed in small and compact cars. Motors generating an output of less than 50 hp are generally utilized in small Off-Road Highway electric and hybrid vehicles. These sorts of electric and hybrid Off-Road Highway cars have the most important market in Europe.

By Electric Tractor Equipment:

  • Lawn Mower
  • Sprayer
  • Tractor

Off-Road 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 predicted to steer the off-road highway electric vehicle market, in terms useful, during the forecast period. The development and mining equipment demand in North America is predicted to extend thanks to measures adopted by the US that have increased the demand for domestically extracted minerals and infrastructure development. The US is estimated to be the most important marketplace for Off-Road Highway electric vehicles in North America. Additionally, with upcoming stringent emission norms for fuel economy within the country, companies try harder to manufacture electric and hybrid equipment for the domestic market. The construction industry has witnessed substantial growth in emerging economies like China and India. The increasing demand for brand spanking new infrastructure is predicted to drive the demand for construction equipment across the world. Rapid infrastructural development and revised government norms associated with construction activities are driving the Off-Road Highway electric vehicle market in these countries. Aside from the development industry, the mining industry has also shown significant growth in recent years.

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
  • Xcmg
  • Sumitomo Heavy Industries
  • Doosan
  • Sany Heavy Industries
  • Kubota
  • Beml
  • Zoomlion

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-Road 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-Road 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-Road 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-Road 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-Road 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         

          6.6 Off-Road Highway Electric Vehicle Market, By Electric Tractor Equipment              

                    6.6.1 Lawn Mower  

                    6.6.2 Sprayer

                    6.6.3 Tractor

                    6.6.4 Market Size Estimations & Forecasts (2019-2024)        

                    6.6.5 Y-o-Y Growth Rate Analysis         

                    6.6.6 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      

                    7.2.7 By Electric Tractor Equipment       

          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      

                    7.3.7 By Electric Tractor Equipment       

          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      

                    7.4.7 By Electric Tractor Equipment       

          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      

                    7.5.7 By Electric Tractor Equipment       

          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      

                    7.6.7 By Electric Tractor Equipment       

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-Road Highway Electric Vehicle Market By Region, From 2021-2026 ( USD Billion )
  2. Global Off-Road 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-Road 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-Road 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-Road 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-Road 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 )
  29. Global Off-Road Highway Electric Vehicle Market By Electric Tractor Equipment, From 2021-2026 ( USD Billion )
  30. Global Lawn Mower Market By Region, From 2021-2026 ( USD Billion )
  31. Global Sprayer Market By Region, From 2021-2026 ( USD Billion )
  32. Global Tractor Market By Region, From 2021-2026 ( USD Billion )

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