Press release
Electrifying the Terrain : Off-Highway Electric Vehicle Market Envisions $168.7 Billion Milestone by 2031, According to Allied Market Research
Off-Highway Electric Vehicle Market
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ - https://www.alliedmarketresearch.com/request-sample/9135
The concept of off-highway electric vehicle is typically attributed to the off-road vehicle that use a propulsion technology which does not produce internal combustion engine exhaust or other carbon emissions when it operates. It is designed to operate on public roads as well as rough terrain. Moreover, off-highway electric vehicles have a wide range of applications in the area of good carriers, agricultural applications, and passenger commute. For instance, in June 2021, Caterpillar announced the launch of the R1700 XE LHD battery electric vehicle at MINExpo, an international trade show sponsored by the National Mining Association. It was capable of carrying 15-tonne payload. Furthermore, it was capable of being fully charged in less than 30 minutes using a single charger or in less than 20 minutes using two chargers.
๐๐ข๐ฌ๐ญ ๐จ๐ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:-
AB Volvo,
Anhui Heli Co., Ltd.,
Cargotec Corporation,
Caterpillar,
Clark,
CNH Industrial N.V.,
DEERE & COMPANY,
Epiroc AB,
Hitachi Construction Machinery,
Hyundai Construction Equipment Co., Ltd.,
JCB,
Komatsu Ltd.,
Liebherr-International AG,
Narrow Isle inc.,
Sandvik AB,
SANY Group,
Toyota Motor Corporation.
The report offers a detailed a segmentation of the global off-highway electric vehicle market based on vehicle type, energy storage capacity, battery type, application, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on vehicle type, the hybrid electric vehicle (HEV) segment held the largest share in 2021, contributing to over three-fifths of the global off-highway electric vehicle market, and is likely to maintain its leadership status during the forecast period. However, the battery electric vehicle (BEV) segment is expected to manifest the highest CAGR of 28.4% from 2022 to 2031.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ - https://www.alliedmarketresearch.com/off-highway-electric-vehicle-market/purchase-options
Based on energy storage capacity, the 50-200 kWh segment held the largest share in 2021, accounting for nearly half of the global off-highway electric vehicle market, and would rule the roost through 2031. However, the >200 kWh segment is estimated to witness the fastest CAGR of 28.5% during the forecast period.
Based on battery type, the Lithium-Ion (Li-Ion) segment was the largest in 2021, grabbing nearly 90% of the global off-highway electric vehicle market, and is likely to maintain its leadership status during the forecast period. The same segment is expected to manifest the highest CAGR of 27.3% from 2022 to 2031. The report also includes the lead-acid segment.
Based on application, the construction segment was the largest in 2021, accounting for nearly two-fifths of the global off-highway electric vehicle market, and is likely to maintain its leadership status during the forecast period. However, the others segment is expected to manifest the highest CAGR of 29.7% from 2022 to 2031. The report also analyzes the agriculture and mining segments.
Based on region, the market in Asia-Pacific accounted for more than two-fifths of the global off-highway electric vehicle market in 2021, and is likely to maintain its leadership status during the forecast period. However, the off-highway electric vehicle market in Europe is expected to manifest the highest CAGR of 29.2% from 2022 to 2031. The report also discusses the North America and LAMEA regions.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ - https://www.alliedmarketresearch.com/purchase-enquiry/9135
The factors such as increase in trend of recreational activities & adventure sports, rise in demand for electric machinery in construction sector, and surge in sales of electric vehicles supplement the growth of the off-highway electric vehicle market. However, high maintenance cost of off-highway electric vehicles and ban on ATV & UTV driving in wildlife area are the factors expected to hamper the growth of the market. In addition, technology development in off-highway electric vehicle and expansion of dealer network for effective product reach create market opportunities for the key players operating in the off-highway electric vehicle market.
๐๐ข๐ฆ๐ข๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ ๐๐๐ฏ๐ ๐จ๐ง ๐๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
https://www.alliedmarketresearch.com/off-road-high-performance-vehicle-market-A08769 - Off-Road High Performance Vehicle Market Size, Share, Competitive Landscape and Trend Analysis Report by Channel (OEM, Aftermarket) and by Application (Defense, Recreation): Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/off-road-vehicle-market-A12517 - Off-Road Vehicle Market Size, Share, Competitive Landscape and Trend Analysis Report by Displacement (Less Than 400 (CC), 400 to 800 (CC), and More Than 800 (CC)), Vehicle Type (ATV, UTV, Snowmobiles, and NEV), End Use Vertical (Agriculture, Military, Sports, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
https://www.alliedmarketresearch.com/off-road-motorcycle-market-A06426 - Off-road Motorcycle Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Motocross Motorcycle, Enduro Motorcycle, Trail Motorcycle, Track-racing Motorcycle), by Application (Commercial, Personal, Industrial, Others), by Price Range (Low to Mid, High), by Engine Capacity (Less Than 500 cc, 500 cc to 1000 cc, More Than 1000 cc): Global Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/self-driving-electric-vehicle-market-A12266 - Self-Driving Electric Vehicle Market Size, Share, Competitive Landscape and Trend Analysis Report by Level of Automation (Level 1, Level 2, Level 3), by Vehicle Type (Passenger Cars, Commercial Vehicles), by Type (Battery Electric Vehicles, Plug-in Hybrid Electric Vehicles, Fuel Cell Electric Vehicles): Global Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/atv-and-utv-market - ATV and UTV Market Size, Share, Competitive Landscape and Trend Analysis Report by Vehicle Type (ATV, UTV), by Displacement (Less Than 400 CC, 400 CC To 800 CC, More Than 800 CC), by Power Output (Less Than 50kW, 50kW To 100 kW, Above 100 kW), by Fuel Type (Gasoline Powered, Diesel Powered, Electric Powered, Solar Powered), by End Use (Agriculture, Military, Mountaineering, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031
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๐๐๐จ๐ฎ๐ญ ๐๐ฌ
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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