Press release
Off the Beaten Path : Off-Highway Electric Vehicle Market Poised to Hit $168.7 Billion by 2031, says Allied Market Research
Off-Highway Electric Vehicle Market
๐ฐ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ - https://www.alliedmarketresearch.com/request-sample/A08770
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.
๐๐ฝ๐๐๐ฌ๐๐ ๐จ๐ง ๐ฏ๐๐ก๐ข๐๐ฅ๐ ๐ญ๐ฒ๐ฉ๐, 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.
๐๐ฝ๐๐๐ฌ๐๐ ๐จ๐ง ๐๐ง๐๐ซ๐ ๐ฒ ๐ฌ๐ญ๐จ๐ซ๐๐ ๐ ๐๐๐ฉ๐๐๐ข๐ญ๐ฒ, 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.
๐๐ฝ๐๐๐ฌ๐๐ ๐จ๐ง ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐ญ๐ฒ๐ฉ๐, 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.
๐ฐ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/off-highway-electric-vehicle-market/purchase-options
๐๐ฝ๐๐๐ฌ๐๐ ๐จ๐ง ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง, 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.
๐๐ฝ๐๐๐ฌ๐๐ ๐จ๐ง ๐ซ๐๐ ๐ข๐จ๐ง, 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.
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.
๐ฐ๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ - https://www.alliedmarketresearch.com/purchase-enquiry/A08770
๐๐๐๐๐ข๐ง๐ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐จ๐๐-๐ก๐ข๐ ๐ก๐ฐ๐๐ฒ ๐๐ฅ๐๐๐ญ๐ซ๐ข๐ ๐ฏ๐๐ก๐ข๐๐ฅ๐ ๐ฆ๐๐ซ๐ค๐๐ญ ๐๐ง๐๐ฅ๐ฒ๐ณ๐๐ ๐ข๐ง ๐ญ๐ก๐ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ข๐ง๐๐ฅ๐ฎ๐๐
Deere & Company,
Epiroc AB,
Hitachi Construction Machinery Co., Ltd.,
Hyundai Doosan Infracore Co. Ltd.,
JCB Co., Ltd.,
Komatsu Ltd.,
The Volvo Group,
Anhui Heli Co., Ltd.,
Cargotec Oyj,
Caterpillar Inc.,
CNH Industrial N.V.,
Liebherr-International Deutschland GmbH,
Narrow Aisle, Inc.,
Sandvik AB,
SANY Group,
Toyota Motor Corporation.
๐๐ข๐ฆ๐ข๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ ๐๐๐ฏ๐ ๐จ๐ง ๐๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
https://www.alliedmarketresearch.com/off-road-high-performance-vehicle-market-A08769 - Off-Road High Performance Vehicle Market : Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/off-road-vehicle-market-A12517 - Off-Road Vehicle Market : Global Opportunity Analysis and Industry Forecast, 2021-2030
https://www.alliedmarketresearch.com/self-driving-electric-vehicle-market-A12266 - Self-Driving Electric Vehicle Market : Global Opportunity Analysis and Industry Forecast, 2021-2031
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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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