Press release
Global Report on Electrification of Off-highway Vehicle Market- Forecast to 2024
The Off-highway vehicle electrification market in the pre-COVID-19 situation was projected to reach 0.1 million units by 2025 from 0.03 million units in 2018 (in terms of volume). The need for introduction of environment friendly technology, rapid innovation related to electric vehicle technology, switching to alternate power source are going to be the major factors contributing to the growth of the market. However, high production cost coupled with low production capacity is likely to hamper the growth of the market.For more details on “Off-highway Vehicle Electrification Market Report:
https://i2iresearch.com/report/off-highway-electrification-market-report-global-regional-industry-forecast-2018-2023/
Hybrids will play a key role in the advancement of the off-highway electric vehicles industry. New design philosophy for electrification of Off-highway vehicles, ability of electric power to make vehicles more productive by using more efficient subsystems sized to do the work, recapturing energy and reducing reliance on fossil fuels will be some of the key contribution factors. Diesel hybrid vehicles will be limited to smaller off-highway vehicles and designed for specific markets.
Key Market Players
The Off-highway vehicle electrification market comprises major manufacturers such as Caterpillar (USA), AB Volvo (Sweden), Hitachi Construction Machinery Co. ltd (Japan), Kobelco Construction Machinery Co. Ltd (Japan), and CNH Industrial NV (Japan). These companies have strong distribution networks at a global level and offer an extensive product range. All the major players are focusing on new product development, and partnerships to gain a higher market share of the off-highway electric vehicles market.
Key Developments
• The world’s first ‘Free Emission’ quarry by Volvo
• Liebherr delivers 200t electric drive, R 9200
• JCB launched its first ever full Electric Mini Excavator
• Scania and Kobelco Construction Machinery announce partnership to develop electric off-highway vehicles
• Volvo Construction Equipment (Volvo CE) announced the introduction of a fully electric range of Volvo branded compact wheel loaders and compact excavators by 2020
Introduction
•Scope of the study
•Objectives of the study
•Scope and Limitations
Research Methodology
•Research Methodology
•Market Sizing Approach/Data Triangulation
•Market Forecasting Framework
Executive Summary
•Market Landscape
•Region wise market
•Future Outlook
Market Overview
•Product Definition
•Value Chain
•Off Highway Electrification evolution
•Market trend
•Industry structure
Global Economic Outlook
•Global Economic Trend
•Future Economic Outlook
Global Off Highway Equipment Industry Scenario
•Evolution of electrification technology
•Hybrids will play a role in the journey toward full electric
•Factors pushing hybridization and electrification in OHV
•Hybrid AND electric related development by key OEMs
•Key Mergers & Acquisition, Deals (VC/PE), Investments, market entry news
Key Development and Opinion Leader View
•Key Developments
•Opinion leader views
Regulatory Changes and its Impact
•Environmental Regulations
•Impact of environment regulations
Market Size and Share Analysis
Equipment wise market share
•Excavators
•Backhoe Loaders
•Wheel Loaders
•Dozers
•Compactors
•Mobile Cranes
•Others
Application wise market share
•Building & Construction
•Earth Moving
•Heavy Lifting & Material handling
•Recycling & waste management
•Tunnelling
Market share by Geography
•North America (US, Canada, Mexico)
•Europe (UK, Germany, France, Italy, others)
•APAC (Japan, China, South Korea, India, Others)
•ROW (South America, Middle East, Africa)
Market drivers, Challenges and forecast
•Drivers
•Challenges
•Future Forecast
•Country-wise Future Forecast
Company Profiles
• Caterpillar
• AB Volvo
• Hitachi Construction Machinery Co., Ltd
• Kobelco Construction Machinery Co., Ltd
• CNH Industrial N.V
• Liebherr Group
• John Deere
• Terex
• Sany Group
• Doosan Infracore
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Viveknagar, Bengaluru, India, 560047
Contact Us
Email: contact@i2iresearch.com
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A fact based research and consulting firm, i2iResearch helps companies in realising their strategic goals by empowering them to make decisions driven by accurate information, intelligence, and insights.
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