Press release
Off Highway Vehicle Engine Market Size, Share, Development by 2023
An off-road vehicle is considered to be any type of vehicle which is capable of driving on and off paved or gravel surface. It is generally characterized by having large tires with deep, open treads, a flexible suspension, or even caterpillar tracks. Other vehicles that do not travel public streets or highways are generally termed off-highway vehicles, including tractors, forklifts, cranes, backhoes, bulldozers, and golf carts. Off Highway Vehicle Engine is the engine specifically designed for off road vehicle.
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Global Off Highway Vehicle Engine Market: Forecast by Type / Application / Region
Globally, the off-highway vehicle engine industry market is low concentrated as the manufacturing technology of off-highway vehicle engine 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-highway vehicle engine and related services. At the same time, North America, occupied about 27% revenue market share in 2016, is remarkable in the global off-highway vehicle engine industry because of their market share and technology status of off-highway vehicle engine.
The consumption volume of off-highway vehicle engine 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-highway vehicle engine industry may not keep that fast. But it is surely forecasted that the market of off-highway vehicle engine is still promising.
Over the next five years, LPI(LP Information) projects that Off Highway Vehicle Engine will register a 2.6% CAGR in terms of revenue, reach US$ 13500 million by 2023, from US$ 11900 million in 2017.
Global Off Highway Vehicle Engine Market: Key Players
Cummins
Caterpillar
Kubota
MAN
Volvo Penta
FPT
Yanmar
Deutz
Yuchai
Deere
Weichai Power
Yunnei Power
Mitsubishi
Isuzu
Lombardini
Quanchai
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Related Information:
United States Off Highway Vehicle Engine Market Research Report 2018
Europe Off Highway Vehicle Engine Market Research Report 2018
North America Off Highway Vehicle Engine Market Research Report 2018
Asia-Pacific Off Highway Vehicle Engine Market Research Report 2018
China Off Highway Vehicle Engine Market Research Report 2018
EMEA Off Highway Vehicle Engine Market Research Report 2018
Global Off Highway Vehicle Engine Market Research Report 2018
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