Off-highway Vehicle Market Size, Competitive Strategies, Application Analysis, Regional, and Forecasts 2018 to 2026

Off-road vehicles are capable of driving on and off tiled or pebbly surfaces. They generally have large tires with deep, open treads, and flexible suspensions. The most common use of these vehicles is for traveling or driving in areas that do not have asphalt roads. Higher clearance and higher power enables these vehicles to access trails and roads that have rough and low-traction surfaces.

Increase in demand and production of off-road vehicles is projected to boost the off-highway vehicle market during the forecast period. All-terrain vehicles are a part of off-highway vehicles. Demand for all-terrain vehicles (ATVs) is increasing due to their suitability for activities such as driving and travelling in rough terrain areas. Moreover, a rise in automation and usage of machinery to ease the work of humans in various industries such as agriculture, construction, mining, and infrastructure has increased the utilization of off-road vehicles in these sectors. However, the high cost and maintenance expenditure of these vehicles are anticipated to significantly restrain the off-highway vehicle market. Regulatory bodies are imposing stringent norms, globally, to reduce carbon emissions from automobiles. Off-road vehicles burn large amount of fuel and create more carbon emission as compared to normal vehicles, as off-highway vehicles require large amount of power to operate. Improvement in the carbon emission of these vehicles is likely to propel the off-highway vehicle market during the forecast period.

Key players operating in the global off-highway vehicle market include:
Caterpillar Inc., Cummins Inc., Deutz AG, Kubota Corporation, J. C. Bamford Excavators Ltd., Deere and Company, Hitachi Construction Machinery Co. Ltd., AGCO Corporation, Mahindra and Mahindra Ltd., and Massey Ferguson Ltd.

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The off-highway vehicle market can be segmented based on fuel type, end-use industry, engine capacity, and geography.

Based on fuel type, the off-highway vehicles market can be segregated into gasoline and diesel. Both fuels are used in IC (Internal Combustion) engines to generate mechanical energy. Diesel fuel is more commonly utilized, as it provide maximum power output required for OHV.

Off-highway vehicles have applications in various sectors such as agriculture, construction, infrastructure, mining, and all-terrain vehicles. Farm tractors and load-carrying (crop carrying) vehicles are some off-highway vehicles that are employed in the agriculture sector. Excavators and stone crushers are some off-highway vehicles that are utilized in construction and infrastructure sectors. Quads, quad bikes, and RZR are types of all-terrain vehicles.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

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