Press release
Global Off-road Engines Market to Witness a Pronounce Growth During 2023
The Off-road Engines category consists of compression-ignition engines (i.e. diesel engines) that are found in a wide variety of off-road applications such as agricultural, construction, and industrial, etc.
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Global Off-road Engines Market: Forecast by Type / Application / Region
In the coming years there is an increasing demand for Off-road Engines in the regions of North America and Europe that is expected to drive the market for more advanced Off-road Engines. Growth in government budgets in the principal countries, increasing of construction fields expenditures, more-intense competition, launches in introducing new products, increasing of spending on agricultural machinery, retrofitting and renovation of old technology, increasing adoption of Off-road Engines will drive growth in North America and Europe markets.
Globally, the Off-road Engines industry market is low concentrated as the manufacturing technology of Off-road Engines is relatively matures than some high-tech equipment. And some enterprises, like Cummins, Caterpillar, MAN, etc. are well-known for the wonderful performance of their Off-road Engines and related services. At the same time, Europe, occupied 26.72% revenue market share in 2015, is remarkable in the global Off-road Engines industry because of their market share and technology status of Off-road Engines.
The consumption volume of Off-road Engines is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of Off-road Engines industry may not keep that fast. But it is surely forecasted that the market of Off-road Engines is still promising.
Over the next five years, LPI(LP Information) projects that Off-road Engines will register a 0.4% CAGR in terms of revenue, reach US$ 21400 million by 2023, from US$ 20800 million in 2017.
Global Off-road Engines Market: Key Players
Cummins
Caterpillar
MAN
Yuchai
Kubota
Volvo Penta
FPT
Deutz
Yanmar
Deere
Weichai Power
Kunming Yunnei Power
Mitsubishi Heavy Industries Engine & Turbocharger
Lombardini
Isuzu
Quanchai
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Related Information:
United States Off-road Engines Market Research Report 2018
Europe Off-road Engines Market Research Report 2018
North America Off-road Engines Market Research Report 2018
Asia-Pacific Off-road Engines Market Research Report 2018
China Off-road Engines Market Research Report 2018
EMEA Off-road Engines Market Research Report 2018
Global Off-road Engines Market Research Report 2018
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