1. Technology

Automotive Off-Highway Engine Market Research Reveals Enhanced Growth During The Forecast Period 2023 – 2030

Market Research Future Insights:

The majority of countries revamped their existing industrial technologies, which resulted in a significant transformation of the global industrial sector. Similar to other industries, the automobile sector underwent a period of transition and extensively embraced automation. Automobile development was pursued for both industrial and non-industrial purposes, in addition to long-distance transportation of passengers and raw materials.

The heavy industry and the agricultural sector benefited most from the development of specialist engines and corresponding vehicles. In order to complete labor-intensive tasks such as road leveling, sand and gravel formation, and construction mortar mixing in the construction and mining industries, as well as agricultural tasks like harvesting, plowing, and reaping, the heavy industries sector began using specially developed vehicles.

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To meet the population’s expanding needs, extensive mining and construction projects are being conducted. More than half of the world’s population also resides in this area. As a result, the demand from the construction and agricultural industries is constantly rising. Automation for mass production in agriculture and a quicker turnaround on infrastructure projects are both urgently required to meet the high demand.

Because of this, infrastructural projects that can be carried out using these engine-powered vehicles, such as in densely populated nations like China and India where the demand is constantly rising and the supply must be kept in line with the demand, the use of off-highway engines help speed up the processes in these respective fields.

Regional Analysis:

The market is divided into four categories based on geography: North America, Asia Pacific, Europe, and the Rest of the World. This market is anticipated to be driven by Asia Pacific. Over the past two decades, industries in this area have grown. The region’s thriving industrial sector has been aided by economic growth in nations like China and India. In Asia, there are many heavy construction industries with established bases.

The growing middle class, its higher purchasing power, and its increasing share of the population are the main causes of this. China and India have become the home of many automotive industries’ manufacturing hubs. This has caused these countries’ infrastructure to develop significantly.

Market Segmentation:

Off-highway engines in the 30-400 HP range are typically favoured in the agricultural area based on power output. This market has a high demand due to the extensive use of automation technology in agriculture around the globe. The construction industry often favours engines with more than 400 HP. The building industry has been consistently active worldwide, particularly in developing nations.

As a result, there is a considerable need for high-performance off-engine trucks for tasks like carrying raw materials and mixing mortar. The highest demand for engines with capacities under 5 litres is based on engine capacity. These vehicles are easily manoeuvrable due to their primary use in a number of industries, including road construction, agricultural, and long-distance transit.

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Key Players:

The key players in automotive off-highway engine market are Caterpillar Inc. (U.S.), Cummins Inc. (U.S.), Deutz AG (Germany), Kubota Corporation (Japan), Volvo Group (Sweden), and Mahindra and Mahindra Limited (India). Deere & Company (U.S.), J.C. Bamford Excavators Limited (U.K.), AGCO Corporation (U.S.), and Massey Ferguson Limited (U.S.) are among others.

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