Demand For Off-Highway Engines For Agriculture Is Anticipated To Expand Significantly, Clocking A CAGR Of Over 6% From 2022-2032

The global off-highway engine market is set to experience rapid progress at close to 7% CAGR from 2021 to 2031. Over the past half-decade, demand has swelled at 2.3% CAGR, mostly for construction and agriculture equipment, small marine engines and gensets. Moreover, inception of industry 4.0 globally has mandated industry verticals to mobilize their supply chain networks.

To Get In-depth Information View Full Report – https://www.factmr.com/report/off-highway-engine-market

Over the coming years, demand for off-Highway equipment is expected to rise exponentially with large-scale investments in infrastructure development and capacity building by governments around the globe. Similarly, large-scale industrial truck adoption by manufacturing and warehousing industries in order to boost productivity, maintenance, and workplace safety is creating huge demand for off-highway engines.

For More Insights Into The Market, Request a Sample of this Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=5576

Furthermore, increasing adventure tourism among all age groups has kicked-off power sports vehicle demand, by virtue of which, power sports engine manufacturing industries are staring at the market with a bold eye.

However, the COVID-19 outbreak led to massive demand loss in off-highway engines. Cooperating to global lockdowns in order to prevent spread, infrastructure development was halted, global trade was disrupted, and people stopped spending on small power equipment such as power sports vehicles, lawn mowers, etc. All these resulted in plunged global off-highway engine demand. However, long-term prospects look bright with the resumption of activities and industries across regions.

Share Your Requirements & Get Customized Reports – https://www.factmr.com/connectus/sample?flag=RC&rep_id=5576

Key Takeaways from Study
The global off-highway engine market is anticipated to add approx. 2X value to its market by 2031
Power output-wise, < 50 HP of off-highway engines are expected to increase at an impressive CAGR of close to % over the forecast period
North America is the consummate market with a value of around US$ 11.3 Bn in 2021, and is projected to inflate at a zestful CAGR of nearly 7% over the forecast period
< 4 L off-highway engines are opined to exhibit spry growth rate of 7% CAGR, while other fuels under fuel type segment are projected to add 2.1X value over the forecast period
East Asia is set to unleash high growth of more than 7% CAGR, owing to infrastructure development, global maritime trade, and manufacturing prowess of the region, with widespread implementation of high-end technology within the agriculture sector and supply chain operations
By application sector, industrial trucks are poised to bestow gracious opportunity for off-highway engines (7% CAGR), by virtue of increasing apprehensions of employee safety and improved warehouse management and mobilized supply chains
The market in the U.S. is projected to expand at a CAGR of close to 7%, while that in the U.K. at over 6%, through 2031
Both, China and India are anticipated to experience a CAGR of around 8% over the next ten years
With the onset of COVID-19, the market suffered in 2020, and witnessed a growth of -4.4%; 2021 will see positive growth with the opening up of industries
“Increasing infrastructure spending, capacity building, and innovation for efficient engines are key drivers for off-highway engine sales,” says a Fact.MR analyst.

Research Methodology Prepared – https://www.factmr.com/connectus/sample?flag=RM&rep_id=5576

Innovative Product Launches and Targeted Acquisitions by Key Players
Cummins, in August 2019, extended its 2020 X15 portfolio to serve more markets and applications; the series engine included six new ratings with the existing four.
In 2019 Cummins and Isuzu announced a partnership in powertrain agreement. These partners will evaluate and carry out opportunities to jointly develop and bring new diesel-based powertrains to the global market.
In 2019, with growing demand for lighter, fuel-efficient, and powerful engines, Caterpillar launched two new engine platforms – CAT C3.6 and C13B. The company claims that these engines are powerful, compact, and easy to integrate. In June 2020, Caterpillar announced that it had acquired selected assets and employees of California-based robot and autonomy technology solutions company Marble Robot. The acquisition was to further leverage its autonomous mining and solve problems of changing demands in the manufacturing industry.

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
The report covers following Off-Highway Engine Market insights and assessment that are helpful for all participants involved in the Intradermal Injections market:

Data on recently introduced regulations and their impact on key industries and on demand in Intradermal Injections
Latest industry Analysis on Off-Highway Engine Market, with key analysis of market drivers, trends, and influencing factors
Key trends Analysis of Off-Highway Engine Market and changing consumer preferences in major industries.
Changing Intradermal Injections demand and consumption of diverse products
Major trends underlining funding by key investors in numerous countries
New investment opportunities in diverse technology and product or service types
Comprehensive data and Competitive analysis of Intradermal Injections major players
Off-Highway Engine Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
Intradermal Injections demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth

For More Insights- https://www.einpresswire.com/article/556509410/demand-from-personal-care-cosmetic-products-to-drive-the-growth-of-solid-sericin-in-skincare

US Sales Office:
11140 Rockville Pike,
Suite 400, Rockville,
MD 20852,
United States,
Tel: +1 (628) 251-1583,

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: sales@factmr.com
Visit Our Website: https://www.factmr.com

About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

This release was published on openPR.