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Off-Highway Electric Vehicle Market 2023 - Size, Share, Segments, Data, Growth, And Forecast
Off-Highway Electric Vehicle Market
Off-Highway Electric Vehicle Market Size, Growth Rate, And Forecast
The global off-highway electric vehicle market size grew from $5.54 billion in 2022 to $7.13 billion in 2023, at a compound annual growth rate (CAGR) of 28.7%. The off-highway electric vehicle market size is expected to grow to $18.3 billion in 2027 at a CAGR of 26.6%.
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Off-Highway Electric Vehicle Market Drivers
The increase in demand for electric vehicles is expected to propel the growth of the off-highway electric vehicle market. Electric vehicles are supplied by renewable energy that contributes to reduced CO2 emissions and air pollution, creates significant efficiency gains, and serves as a source of storage of renewable electricity, thereby increasing the demand for off-highway electric vehicles.
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Off-Highway Electric Vehicle Market Segments
• By Type: Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicles (PHEV)
• By Battery Type: Lithium-Ion, Lead-Acid, Other Batteries
• By Application: Mining, Construction Agriculture: Gardening or Landscaping, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the off-highway electric vehicle market.
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Off-Highway Electric Vehicle Market Key Players
Major competitors in the off-highway electric vehicle market include Caterpillar Inc., Volvo Construction Equipment Ab, Deere And Company, Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Doosan Corporation, J.C. Bamford Excavators Ltd., Cnh Industrial N.V., Tesla Inc., Bayerische Motoren Werke GmbH, Nissan Motors, Toyota MC, Volkswagen AG, Kubota Corporation, Duetz AG, Atlas Compagnie Pneumatique Commerciale, Sumitomo Heavy Industries, Stihl Holding AG and Co. Kg, and Solectrac LLC.
The Business Research Company's "Global Off-Highway Electric Vehicle Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Off-Highway Electric Vehicle Market Include:
1. Executive Summary
2. Off-Highway Electric Vehicle Market Characteristics
3. Off-Highway Electric Vehicle Market Trends And Strategies
4. Off-Highway Electric Vehicle Market - Macro Economic Scenario
5. Off-Highway Electric Vehicle Market Size And Growth
……
26. Africa Off-Highway Electric Vehicle Market
27. Off-Highway Electric Vehicle Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Off-Highway Electric Vehicle Market
29. Off-Highway Electric Vehicle Market Future Outlook And Potential Analysis
30. Appendix
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