Advanced Material Handling Equipment Across Warehouses Is Further Stimulating Off-Highway Engines Demand

Market Snapshot
Fact.MR- a market research and competitive intelligence provider- expects the global market for off-highway engines to surpass US$ 8 Bn by 2021, expected to reach US$ 15.8 Bn by the end of the 2021-2031 assessment period. The market is expected to surge nearly 2x across the forthcoming decade, with agriculture emerging as the dominant application area, surging at a CAGR of 6%.

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Key Points Covered in Off-Highway Engine Industry Survey
Market Estimates and Forecasts (2016-2031)
Key Drivers and Restraints Shaping Market Growth
Segment-wise, Country-wise, and Region-wise Analysis
Competition Mapping and Benchmarking
Brand Share and Market Share Analysis
Key Product Innovations and Regulatory Climate
COVID-19 Impact on Off-Highway Engine Demand and How to Navigate
Recommendation on Key Winning Strategies
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2016-2020 Off-Highway Engine Revenue Analysis Vs 2021-2031 Forecast
From 2016-2020, the market for global off-highway engines surged at a CAGR of 2.3%. Expanding mechanization of key industries to bolster productivity and optimize energy consumption across key domains as construction and agriculture has been influencing growth in the historical period.

Furthermore, increased emphasis on achieving fuel economy are ensuring a robust growth potential for the industry. In addition, an increase in deployment of industrial trucks and advanced material handling equipment across warehouses is further stimulating off-highway engines demand.

Furthermore, government measures to improve farm mechanization, particularly in emerging nations, have boosted demand for agricultural machinery such as power tillers and heavy-duty tractors. As a result, the market is expected to witness a surge of 7% across the 2021-2031 assessment period.

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Key Segments Covered

Engine Capacity

Off-Highway Engines < 4 L
Off-Highway Engines from 4–10 L
Off-Highway Engines from 10–16 L
Off-Highway Engines from 16–22 L
Off-Highway Engines Above 22 L

Power Output

Off-Highway Engines < 50 HP
Off-Highway Engines from 50–100 HP
Off-Highway Engines from 100–200 HP
Off-Highway Engines from 200–300 HP
Off-Highway Engines Above 300 HP

Fuel Type

Gasoline Off-Highway Engines
Diesel Off-Highway Engines
Other Fuel Off-Highway Engines

Application

Off-Highway Engines for Construction Equipment
Off-Highway Engines for Agriculture Equipment
Off-Highway Engines for Marine Engines
Off-Highway Engines for Gensets
Off-Highway Engines for Industrial Trucks
Off-Highway Engines for Power Sports
Off-Highway Engines for Other Applications

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Competitive Landscape

Prominent off-highway engine manufacturers are emphasizing on introducing low-emission producing engines, consistent with regional frameworks on curbing emission levels. Additionally, expansion strategies such as partnerships, collaborations and acquisitions are also relied upon.

In 2017, Herero 4x4 selected FPT Industrial S.p.A to equip its fleet with the latter’s F1C Euro 6 engine and the 2840.6 FPT industrial gear for off-road applications. The engine offers high torque, regimen and reliability
In October 2020, Cummins India initiated production of electronically controlled Cummins B4.5 engines with a power range of 121-200 horsepower. The new plant will initially have an annual production capacity of 30,000-50,000 engines, but it is geared to expand in the future.

For More Insights- https://www.einpresswire.com/article/556866054/sun-control-window-films-market-automotive-applications-to-garner-one-third-market-share

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This release was published on openPR.