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Off-Highway Electric Vehicle Market by Type (BEV, HEV and PHEV), Application (Electric Motor Batteries, Charging Stations and Durability) and Industry Vertical (Oil & Gas, Energy & Power, Automotive, Eco-friendly and Healthcare): Opportunity Analysis and Industry Forecast, 2020–2027
| A08770 | Pages: NA | Jun 2021 | 433 Views | | |
| Author(s) : NA | Tables: NA | Charts: NA | Formats*: | |
COVID-19
Pandemic disrupted the entire world and affected many industries.
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Off-highway electric vehicles are a form of electric vehicles, which are designed to carry off-the-road operations. This includes the increased usage of the same in agricultural, construction, infrastructure developments, and others. The increased demand for such vehicles has enabled electric vehicle (EV) manufacturers to increase the production related of off-highway vehicles, thus supplementing the growth of the global market. The global off-highway electric vehicles market has registered an increased growth during the forecast period, owing to the increased demand for electric vehicles across the globe. Other factors, such as increased awareness of environment safety and the developments carried out in the automobile industry, have also supplemented the growth of the global off-highway electric vehicle market.
Market scope and structure analysis:
Report Metric | Details |
 Market size available for years |  2020–2027 |
 Base year considered |  2019 |
 Forecast period |  2021–2027 |
 Forecast unit |  Value (USD) |
 Segments covered |  Type, Application, Industry Vertical |
 Regions covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa |
 Companies covered | Tesla Inc., BMW.com, Nissan Motors, Toyota MC, Volkswagen AG, Volvo CE, Caterpillar, Komatsu, and Hitachi Construction Machinery |
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COVID-19 scenario analysis:
- COVID-19 has rapidly affected the sale in the automotive industry, thus hampering the growth of global off-highway electric vehicle market as there is no demand for fuel operated vehicles as well.
- The EV market was expected to register a significant growth in 2021, but due to COVID-19, the EV market is expected to decline in the near future until the situation becomes stable.
- Sales play a major role in the electric vehicle sector and industries are facing slower production and low demand due to lockdown, which eventually decreased the sales of the top companies.
- Companies, such as BMW, KIA, and TESLA, had stopped the production of their vehicles and are focusing on development of personal protective equipment to fight against COVID-19.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Factors, such as increased awareness of the usage of electric vehicles, lower upgrading cost, and better efficiency, drive the growth of the global off-highway electric vehicle market. Moreover, high investment cost and lack of proper infrastructure hamper the growth of the global market. However, new continuous developments in the industrial sector offer a wider opportunity, which eventually leads to the growth of the global market.
Increased awareness of the usage of electric vehicles
Increased awareness about electric vehicles drives the growth of the EV market. Additionally, increase in awareness of an eco-friendly environmentand reduction in expenses drive the market growth. Therefore, this leads to increased fuel efficiency of hybrid vehicles, thereby boosting the growth of the market.
Low upgrading cost
Low upgrading cost provides huge benefits to customers, which can be in the form of saving the cost of petrol or diesel by replacing with battery vehicles. Furthermore, hybrid EV has improved the efficiency of vehicles in terms of fuel. Therefore, the demand for EVsis expected to increase in near future.
Key segments covered:
Segments | Sub-segments |
  Type |
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 Application |
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 Industry Vertical | Â
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Key benefits of the report:
- This study presents the analytical depiction of the global off-highway electric vehicle 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 a detailed analysis of the global off-highway electric vehicle market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global off-highway electric vehicle market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition.
Questions answered in global off-highway EV market research report:
- Which are the leading market players active in the 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?
We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:
- Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.
Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
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- Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:
- Validates and improves the data quality and strengthens research proceeds
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- Supplies authentic information about market size, share, growth and forecasts
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