Electric Off-Highway Vehicle Market Size, Share and Forecast To 2032 | Key Players: Caterpillar (US), Komatsu Ltd. (Japan), Hitachi Construction Machinery (Japan) and others

The market research report offers an in-depth analysis of the Electric Off-Highway Vehicle market, helping players to prepare for the increasing hurdles ahead and ensure continued business expansion. With impeccable analysis, exhaustive research, and accurate forecasting, we provide a clear and authoritative study of the global Electric Off-Highway Vehicle market, backed by data and figures that have undergone a rigorous verification process. This research is an exhaustive, comprehensive and carefully curated source of exclusive, in-depth information and data on the global Electric Off-Highway Vehicle industry. The report's authors shed light on key market features, including growth drivers, growth barriers, trends, and opportunities, that have been previously unrecognized.

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It comprehensively analyses the global Electric Off-Highway Vehicle market vendor landscape and competitive scenarios to help market players to gain a competitive advantage over their competitors. Readers are provided with an in-depth analysis of key competitive trends in the global Electric Off-Highway Vehicle market. This analysis allows market participants to prepare for future challenges at an early stage. It can also identify opportunities to gain a strong position in the global Electric Off-Highway Vehicle market. Moreover, the analysis helps to effectively channelize strategies, strengths, and resources to gain maximum advantage in the global Electric Off-Highway Vehicle market.

Key Players in Electric Off-Highway Vehicle market

Major and emerging players in the market are scrutinized considering market share, production, revenue, sales growth, gross margin, product portfolio, and other important factors. This allows players to know the moves of the most formidable opponents on the market.

The key players in the market are: Caterpillar (US), Komatsu Ltd. (Japan), Hitachi Construction Machinery (Japan), Volvo Construction Equipment (Volvo CE) (Sweden), Epiroc (Sweden), and Sandvik (Sweden) and 20+ companies competing in the market.

Key Growth Factors in Electric Off-Highway Vehicle Market:

• Growing demand for electric off-highway vehicles in agriculture, construction, and mining industries.

• Increasing focus on emission control and fuel efficiency.

• Growing demand for efficient and cost-effective solutions.

• Expansion of infrastructure to support the growth of electric vehicles.

• Increasing investments and subsidies from governments to encourage the adoption of electric vehicles.

• Growing need for energy efficient solutions across end-use industries.

Recent Developments in Electric Off-Highway Vehicle Market

• In June 2022, Cummins, a global power leader, and Komatsu signed a memorandum of understanding to collaborate on developing zero-emissions haulage equipment. In 2021, Komatsu announced its power agnostic truck concept for haulage equipment that can run on various power sources. These power sources included diesel-electric, trolley, battery power, and hydrogen fuel cells.

• In June 2022, John Deere announced its new global agreement with Wacker Neuson on developing 0-9-metric ton excavators. Both companies will collaborate on developing less than five metric tons of excavators that Wacker Neuson will manufacture. John Deere will control the design, manufacturing, and technology innovation for the 5-9-metric-ton models. In May 2022, Volvo Construction Equipment (Volvo CE) invested in Dutch firm Limach, a manufacturer of electric excavators for the domestic market. This investment is aimed to benefit Volvo CE's long-term electrification plan and provides the opportunity to broaden its electromobility portfolio.

• In March 2022, the companies Honda and Komatsu showcased their joint-development work, the PC01E-1. The PC01E-1 is Komatsu's first electric micro excavator powered by portable and swappable mobile batteries. Komatsu and Honda developed the PC01E-1 by electrifying the conventional PC01 micro excavator by incorporating the Honda swappable mobile battery, and Honda eGX electrified power unit.

• In December 2021, Volvo Construction Equipment (Volvo CE) and its partners explored every aspect of the electric ecosystem to deliver a complete site solution for real urban applications. Volvo CE is working with Gothenburg City, NCC, Gothenburg Energy, Lindholmen Science Park, Chalmers University of Technology, and ABB Electrification Sweden, among many others, to conduct a machine demonstration in largescale at Gothenburg. The Swedish Energy Agency funded this project.

• In October 2021, Caterpillar Venture Capital Inc. (Caterpillar) and another venture invested USD 16 Million as Series B funding for BrightVolt, Inc. The BrightVolt Inc is a global leader in the design, development, and manufacturing of safe, high energy and low-cost solid-state lithium-ion batteries. This funding is aimed to be used to develop larger form factor products for industrial electrification and e-mobility markets.

Segmentation: Global Electric Off-Highway Vehicle Market

By Equipment Type ( Excavator, Motor Grader, Dozer, Loader, Dump Truck, LHD, Lawnmower, Sprayer, Tractor), By Application (Construction, Mining, Agriculture, Gardening), By Propulsion ( Hybrid-Electric, Battery-Electric), By Battery Type ( Lithium-Ion, Lead-Acid, Other Batteries) By Battery Capacity ( 500 Kwh), By Power Output (300 Hp)

Addition/customization of segmentation provided in the report according to your request

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Regional Analysis of Global Electric Off-Highway Vehicle Market:

Each of the regional market segments is analysed and studied in the sense of the major regional spectrum of market reach in the market report. The study also provides a comprehensive overview of key insights, such as import, export, development, demand and consumption. Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia), Europe (Germany, France, United Kingdom, Russia and Italy), North America (United States, Canada, and Mexico), South America (Brazil, Argentina) and the Middle East and Africa (UAE, Egypt, Saudi Arabia, and South Africa) are some of the regions included by this research study.

North America: U.S., Canada, Rest of North America

Europe: France, UK, Spain, Germany, Italy, Rest of Europe

Asia Pacific: China, Japan, India, South Korea, Rest of Asia Pacific

The Middle East & Africa: Saudi Arabia, South Africa, Rest of the Middle East & Africa

Latin America: Brazil, Argentina, Rest of Latin America

Table of Contents in Global Electric Off-Highway Vehicle Market Research Report 2023 - 2032

There are 13 highlighted chapters out of the others to thoroughly display the Electric Off-Highway Vehicle market. This report included the analysis of market overview, market characteristics, industry chain, competition landscape, historical and future data by types, applications, and regions. (Please be aware that the contents of the TOC may vary depending on market titles/reports.)

• Chapter 1: Electric Off-Highway Vehicle Market Overview, Product Overview, Market Segmentation, Market Overview of Regions, Market Dynamics, Limitations, Opportunities and Industry News and Policies.

• Chapter 2: Electric Off-Highway Vehicle Industry Chain Analysis, Upstream Raw Material Suppliers, Major Players, Production Process Analysis, Cost Analysis, Market Channels, and Major Downstream Buyers.

• Chapter 3: Value Analysis, Production, Growth Rate and Price Analysis by Type of Electric Off-Highway Vehicle.

• Chapter 4: Downstream Characteristics, Consumption and Market Share by Application of Electric Off-Highway Vehicle.

• Chapter 5: Production Volume, Price, Gross Margin, and Revenue ($) of Electric Off-Highway Vehicle by Regions.

• Chapter 6: Electric Off-Highway Vehicle Production, Consumption, Export, and Import by Regions.

• Chapter 7: Electric Off-Highway Vehicle Market Status and SWOT Analysis by Regions.

• Chapter 8: Competitive Landscape, Product Introduction, Company Profiles, Market Distribution Status by Players of Electric Off-Highway Vehicle.

• Chapter 9: Electric Off-Highway Vehicle Market Analysis and Forecast by Type and Application.

• Chapter 10: Electric Off-Highway Vehicle Market Analysis and Forecast by Regions.

• Chapter 11: Electric Off-Highway Vehicle Industry Characteristics, Key Factors, New Entrants SWOT Analysis, Investment Feasibility Analysis.

• Chapter 12: Electric Off-Highway Vehicle Market Conclusion of the Whole Report.

• Chapter 13: Appendix Such as Methodology and Data Resources of Electric Off-Highway Vehicle Market Research.

Conclusion:

The study is a compilation of Electric Off-Highway Vehicle-hand data, qualitative and quantitative data by industry analysts, and inputs from market experts and key participants over the value chain process. The study offers an in-depth analysis of the present market trends, micro and macro-economic pointers, and governing factors, along with industry attractiveness according to the segments. The report also maps the qualitative impact of various market factors on market segmentations and geographies.

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