Off-highway engine deals with the machine, which is designed to convert thermal energy into mechanical energy. Off-road vehicles are a type of vehicles that are capable of driving on off-titled or pebbly surfaces. Off-road vehicles have large tires with deep open treads and a flexible suspension. Heat energy burns fuel to create heat, which is then used to power vehicles. The most common use of off-road vehicles is for exploration in areas, which are distinct from asphalt roads. With the advantage of providing high power to vehicles, there is an increase in demand of off-highway engine.
Covid-19 Scenario Analysis
- The global market for off-highway engine is severely impacted by the outbreak of the COVID-19 pandemic.
- The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of off-highway engine, which negatively impact the market growth.
- However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The significant factors supplementing the growth of global off highway engine market are rising mechanization in agriculture and growth of infrastructure activities. However, heavy investments and high manufacturing operations hampers the growth of global off highway engine market . On the other hand, market consolidation and rental or leasing of equipment provides opportunity to off highway engine market to grow in near future.
Rising mechanization in agriculture
Rising mechanization in agriculture in farming sector results in the rapid growth of sale of tractors. Main focus of farm mechanization is to increase productivity through judicious use of natural resources. Thus rising mechanization leads to the growth of global off highway engine market in near future.
Growth of infrastructure activities
Infrastructure development leads to the growth of construction and other activities. With growing construction and agricultural works, demand of off highway vehicles increases. However increasing demand of construction and agricultural processes require off highway vehicles which leads to the growth of global off highway engine market in near future.
Key benefits of the report:
- This study presents the analytical depiction of global automotive off-highway engine market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global automotive off-highway engine market share.
- The current market is analyzed to highlight the global automotive off-highway engine market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global automotive off-highway engine market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global automotive off-highway engine market research report:
- Which are the leading players active in global automotive off-highway engine market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Automotive Off-Highway Engine Market Report Highlights
| Aspects | Details |
 By Application |
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 By Capacity |
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 By Region |
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 Key Market Players | AGCO Corporation, Massey Ferguson Ltd, Caterpillar Inc., Mahindra and Mahindra Ltd., Hitachi Construction Machinery Co. Ltd., Deere and Company, Deutz AG, Kubota Corporation, J. C. Bam ford Excavators Ltd., Cummins Inc. |
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