Off-Highway Electric Vehicle Market Insights 2020: Focusing on Current Trends, Leading with Top Key Players Volvo CE, Caterpillar, Komatsu, Hitachi Construction Machinery, JCB

A recent report published by QMI on Off-Highway Electric Vehicle Market is a detailed assessment of the most important market dynamics. After carrying out thorough research of off-highway electric vehicle market historical as well as current growth parameters, business expectations for growth are obtained with utmost precision. The study identifies specific and important factors affecting the market for off-highway electric vehicle during the forecast period. It can enable manufacturers of off-highway electric vehicle to change their production and marketing strategies in order to envisage maximum growth.

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An electric vehicle is a vehicle which is powered entirely or partially by electricity. They use one or more electric motors for propulsion purposes. They usually store energy in the battery. Different batteries such as lithium- ion, lead acid, and nickel metal hybrid are used in these electric vehicles. Some of the common off highway EV equipment are dump truck, Lhd, loafer, lawn mower, sprayer, and other. Off-road hybrid electric vehicles are armed with a diesel engine and a restorative energy storage system to improve fuel efficiency.

According to the report, the off-highway electric vehicle market has been segmented by equipment (excavator, motor grader, dozer, loader, dump truck, lhd, lawn mower, sprayer, tractor), by propulsion (hybrid electric, battery electric),by application (construction, mining, and agriculture), by battery technology (lithium-ion, nickel metal hydride, lead-acid, other),by battery capacity (500 kwh), by power output (300 hp).

An electric motor is a device used in hybrid and electric vehicles to convert electrical energy into mechanical energy. Most of the hybrid and electric off-highway vehicles are equipped with one or sometimes two electric motors, depending on vehicle specification. Currently, electrification is primarily observed in small and compact vehicles.

Farmers have started adopting advanced agricultural processes and modern farm equipment to gain higher yield. Also, governments around the world are focusing on increasing food productivity. Thus, the demand for farm equipment with modern technologies like electric and hybrid tractors is expected to rise.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT Analysis:
Volvo CE
Caterpillar
Komatsu
Hitachi Construction Machinery
JCB

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Insights about regional distribution of market:
Major regions for the off-highway electric vehicle market are estimated to North America, Western Europe, and the Asia Pacific. North America and Western Europe have been traditional markets for off-highway electric vehicle owing to the strong presence of the industrial sector.

Asia Pacific and Middle East region has witnessed tremendous growth in the industrial sector in recent years. Major companies operating in this market have made strategic developments to improve market presence in these regions. Among these industries government & defense, education & research, manufacturing, media & entertainment, healthcare & life sciences, energy & utilities, and earth sciences are estimated to register high demand for off-highway electric vehicle market.

The industrial sector has been one of the key contributors to the economies in these regions. Major industries in these regions are estimated to be government & defense, education & research, manufacturing, media & entertainment, healthcare & life sciences, energy & utilities, and earth sciences. These industries have an established base resulting in stable market demand. These factors are expected to drive the demand for the off-highway electric vehicle market in North
America and Western Europe region. Major markets by country in these regions include the US, Germany, France, UK, Canada, Spain, and others.

On the other hand, the Middle East region has witnessed diversification in terms of industrial outlook in recent decades. Asia Pacific and Middle East region has witnessed tremendous growth in the industrial sector in recent years. Major companies operating in this market have made strategic developments to improve market presence in these regions. The rest of the World including South America and Africa are estimated to be developing markets with strong potential in the future.

Market Segmentation:
By Equipment:
Excavator
Motor Grader
Dozer, Loader
Dump Truck
LHD
Lawn Mower
Sprayer
Tractor

By Propulsion:
Hybrid Electric
Battery Electric

By Application:
Construction
Mining
Agriculture

By Battery Technology:
Lithium-Ion
Nickel Metal Hydride
Lead-Acid
Other

By Battery Capacity:
500 Kwh
By Power Output:
300 Hp

By Region:
North America
North America, by Country
US
Canada
Mexico
North America, by Equipment
North America, by Propulsion
North America, by Application
North America, by Battery Technology
North America, by Battery Capacity
North America, by Power Output

Western Europe
Western Europe, by Country
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Western Europe
Western Europe, by Equipment
Western Europe, by Propulsion
Western Europe, by Application
Western Europe, by Battery Technology
Western Europe, by Battery Capacity
Western Europe, by Power Output

Asia Pacific
Asia Pacific, by Country
China
India
Japan
South Korea
Australia
Indonesia
Rest of Asia Pacific
Asia Pacific, by Equipment
Asia Pacific, by Propulsion
Asia Pacific, by Application
Asia Pacific, by Battery Technology
Asia Pacific, by Battery Capacity
Asia Pacific, by Power Output

Eastern Europe
Eastern Europe, by Country
Russia
Turkey
Rest of Eastern Europe
Eastern Europe, by Equipment
Eastern Europe, by Propulsion
Eastern Europe, by Application
Eastern Europe, by Battery Technology
Eastern Europe, by Battery Capacity
Eastern Europe, by Power Output

Middle East
Middle East, by Country
UAE
Saudi Arabia
Qatar
Iran
Rest of Middle East
Middle East, by Equipment
Middle East, by Propulsion
Middle East, by Application
Middle East, by Battery Technology
Middle East, by Battery Capacity
Middle East, by Power Output

Rest of the World
Rest of the World, by Country
South America
Africa
Rest of the World, by Equipment
Rest of the World, by Propulsion
Rest of the World, by Application
Rest of the World, by Battery Technology
Rest of the World, by Battery Capacity
Rest of the World, by Power Output

Reasons to Buy This Report:
It provides niche insights for a decision about every possible segment helping in the strategic decision-making process.
Market size estimation of the Off-Highway Electric Vehicle Market on a regional and global basis.
A unique research design for market size estimation and forecast.
Identification of major companies operating in the market with related developments
Exhaustive scope to cover all the possible segments helping every stakeholder in the Off-Highway Electric Vehicle Market.

Contact:

Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: US +1 208 405 2835 UK +44 121 364 6144 APAC +91 706 672 4848
Email: sales@quincemarketinsights.com
Web: www.quincemarketinsights.com

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This release was published on openPR.