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Off-highway Engine Market Report 2017 - Latest Growth, Current Trends and Forecast till 2025
This exclusive report will provide you with the market size and forecast (US$ Mn) for the global market and its segments for the period from 2015 to 2025 along with the growth rate (CAGR) from 2017 to 2025, considering 2016 as base year. In addition, drivers, restraints and opportunities, competitive landscape have also been covered under the current proposed table of contents, which will in due course help you to take strategic decisions with respect to the market.
Off-highway engine is a machine designed to convert one form of energy into mechanical energy and is used in off-road vehicles. Heat engines burn fuel to create heat that is then used to power vehicles. Off-road vehicles are a type of vehicle that are capable of driving on and off tiled or pebbly surfaces. They are generally characterized as having large tires with deep, open treads, and a flexible suspension. The most common use of these vehicles is for exploration in areas distant from asphalt roads. The use of higher clearance and higher power vehicles enables access to trails and forest roads that have rough and low traction surfaces.
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Increase in demand and production of off-road vehicles is projected to boost the off-highway engine market during the forecast period. Demand for all-terrain vehicles (ATVs) is increasing due to their suitability for activities such as trekking and travelling in the exploration area. Moreover, a rise in automation in various industries such as agriculture, construction, mining, infrastructure and others has increased the use of off-road vehicles in these sectors. However, high cost and maintenance expenditure are anticipated to significantly restrain the off-highway engine market. Regulatory bodies are imposing rigorous norms globally to reduce carbon emissions from automobiles. Off-highway Engines can be modified to reduce carbon emissions from vehicles. This is estimated to drive the off-highway engine market.
The off-highway engine market can be segmented based on fuel type, end-use industry, engine capacity, and geography.
Off-highway engines primarily use two kinds of fuel: petrol and diesel. Based on fuel type the off-highway engine market can be classified into petrol engine and diesel engine. Both kinds of fuel are used in IC (Internal Combustion) engines to generate mechanical energy.
Off-highway engines have applications in various sectors such as agriculture, construction, infrastructure, mining, and all-terrain vehicles. Farm tractors and load-carrying (crop carrying) vehicles are some off-highway vehicles used in agriculture. Excavators and stone crushers are some off-highway vehicles used in construction and infrastructure. Quads, quad bikes, and RZR are types of all-terrain vehicles.
Based on engine capacity, off-highway vehicles can be categorized into less than 5L, 5L to 10L, and more than 10L. Capacity is measured by the volume of engine bore, in which the heating of fuel takes place. Heavy-duty vehicles possess higher capacity engines for improved performance of the vehicle.
In terms of geography, the off-highway engine market can be segmented into North America, Europe, Asia Pacific, and Rest of the World (ROW). Asia Pacific accounts for a prominent share of the global off-highway engine market, owing to the high adoption rate of off-highway vehicles and the booming automotive sector leading to an increased production of off-highway engines, especially in China and India.
Some of the key players operating in the global off-highway engine market are Caterpillar Inc., Cummins Inc., Deutz AG, Kubota Corporation, J. C. Bamford Excavators Ltd., Deere and Company, Hitachi Construction Machinery Co. Ltd., AGCO Corporation, Mahindra and Mahindra Ltd., and Massey Ferguson Ltd.
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The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
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Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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