The global ofhighway electric vehicle market is expected to grow at a CAGR of around 12.5% during the forecast period, from 2021 to 2030. The growth in this market can be attributed to the increasing demand for electric vehicles due to their low emission levels and reduced fuel consumption. The increasing number of government regulations and subsidies for electric vehicles are also driving the growth in this market.
The battery electric vehicle segment is expected to dominate the global ofhighway electric vehicle market during the forecast period, owing to its high performance and low maintenance cost as compared with other types of vehicles such as hybrid or plug-in hybrid vehicles. The construction industry segment is expected to witness significant growth during the forecast period due to its high adoption rate among end users such as construction companies, contractors, developers, etc, owing mainly due to their lower operating costs and increased efficiency over traditional diesel-powered equipment.
- The Off-highway Electric Vehicle market is driven by factors such as increasing demand for electric vehicles, rising environmental concerns, and government regulations on emission levels.
- Increasing demand for electric vehicles will drive the growth of the Off-highway Electric Vehicle market in the near future due to their low maintenance cost and high efficiency levels when compared with traditional vehicles.
- Rising environmental concerns are also driving the growth of this market as they are leading to stricter emission norms which in turn will lead to increased adoption of electric vehicles across various industries including construction, mining, agriculture, and transportation sectors among others.
- Government regulations on emission levels are also driving this market as they mandate that all new commercial trucks should be zero emissions by 2027.
Industry Growth Insights published a new data on “Off-highway Electric Vehicle Market”. The research report is titled “Off-highway Electric Vehicle Market research by Types (Battery Electric Vehicle, Hybrid Electric Vehicle), By Applications (Construction, Mining, Agriculture), By Players/Companies Hitachi Construction Machinery, Caterpillar, Komatsu, JCB, Volvo Construction Equipment, Deere & Company, CNH Industrial, Sandvik, Liebherr, Epiroc”.
Scope Of The Report
Report Attributes
Report Details
Report Title
Off-highway Electric Vehicle Market Research Report
By Type
Battery Electric Vehicle, Hybrid Electric Vehicle
By Application
Construction, Mining, Agriculture
By Companies
Hitachi Construction Machinery, Caterpillar, Komatsu, JCB, Volvo Construction Equipment, Deere & Company, CNH Industrial, Sandvik, Liebherr, Epiroc
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
235
Number of Tables & Figures
165
Customization Available
Yes, the report can be customized as per your need.
Global Off-highway Electric Vehicle Market Report Segments:
The global Off-highway Electric Vehicle market is segmented on the basis of:
Types
Battery Electric Vehicle, Hybrid Electric Vehicle
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Construction, Mining, Agriculture
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Hitachi Construction Machinery
- Caterpillar
- Komatsu
- JCB
- Volvo Construction Equipment
- Deere & Company
- CNH Industrial
- Sandvik
- Liebherr
- Epiroc
Highlights of The Off-highway Electric Vehicle Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- By Application:
- Construction
- Mining
- Agriculture
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Off-highway Electric Vehicle Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An off-highway electric vehicle is a type of electric vehicle that is not designed for on-road use. Off-highway electric vehicles include all types of motorcycles, all types of ATVs, and some types of cars.
Some of the major companies in the off-highway electric vehicle market are Hitachi Construction Machinery, Caterpillar, Komatsu, JCB, Volvo Construction Equipment, Deere & Company, CNH Industrial, Sandvik, Liebherr, Epiroc.
The off-highway electric vehicle market is expected to register a CAGR of 12.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Off-highway Electric Vehicle Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Off-highway Electric Vehicle Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Off-highway Electric Vehicle Market - Supply Chain
4.5. Global Off-highway Electric Vehicle Market Forecast
4.5.1. Off-highway Electric Vehicle Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Off-highway Electric Vehicle Market Size (000 Units) and Y-o-Y Growth
4.5.3. Off-highway Electric Vehicle Market Absolute $ Opportunity
5. Global Off-highway Electric Vehicle Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Off-highway Electric Vehicle Market Size and Volume Forecast by Type
5.3.1. Battery Electric Vehicle
5.3.2. Hybrid Electric Vehicle
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Off-highway Electric Vehicle Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Off-highway Electric Vehicle Market Size and Volume Forecast by Application
6.3.1. Construction
6.3.2. Mining
6.3.3. Agriculture
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Off-highway Electric Vehicle Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Off-highway Electric Vehicle Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Off-highway Electric Vehicle Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Off-highway Electric Vehicle Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Off-highway Electric Vehicle Demand Share Forecast, 2019-2026
9. North America Off-highway Electric Vehicle Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Off-highway Electric Vehicle Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Off-highway Electric Vehicle Market Size and Volume Forecast by Application
9.4.1. Construction
9.4.2. Mining
9.4.3. Agriculture
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Off-highway Electric Vehicle Market Size and Volume Forecast by Type
9.7.1. Battery Electric Vehicle
9.7.2. Hybrid Electric Vehicle
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Off-highway Electric Vehicle Demand Share Forecast, 2019-2026
10. Latin America Off-highway Electric Vehicle Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Off-highway Electric Vehicle Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Off-highway Electric Vehicle Market Size and Volume Forecast by Application
10.4.1. Construction
10.4.2. Mining
10.4.3. Agriculture
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Off-highway Electric Vehicle Market Size and Volume Forecast by Type
10.7.1. Battery Electric Vehicle
10.7.2. Hybrid Electric Vehicle
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Off-highway Electric Vehicle Demand Share Forecast, 2019-2026
11. Europe Off-highway Electric Vehicle Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Off-highway Electric Vehicle Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Off-highway Electric Vehicle Market Size and Volume Forecast by Application
11.4.1. Construction
11.4.2. Mining
11.4.3. Agriculture
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Off-highway Electric Vehicle Market Size and Volume Forecast by Type
11.7.1. Battery Electric Vehicle
11.7.2. Hybrid Electric Vehicle
11.8. Basis Point Share (BP) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Off-highway Electric Vehicle Demand Share, 2019-2026
12. Asia Pacific Off-highway Electric Vehicle Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Off-highway Electric Vehicle Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Off-highway Electric Vehicle Market Size and Volume Forecast by Application
12.4.1. Construction
12.4.2. Mining
12.4.3. Agriculture
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Off-highway Electric Vehicle Market Size and Volume Forecast by Type
12.7.1. Battery Electric Vehicle
12.7.2. Hybrid Electric Vehicle
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Off-highway Electric Vehicle Demand Share, 2019-2026
13. Middle East & Africa Off-highway Electric Vehicle Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Off-highway Electric Vehicle Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Off-highway Electric Vehicle Market Size and Volume Forecast by Application
13.4.1. Construction
13.4.2. Mining
13.4.3. Agriculture
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Off-highway Electric Vehicle Market Size and Volume Forecast by Type
13.7.1. Battery Electric Vehicle
13.7.2. Hybrid Electric Vehicle
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Off-highway Electric Vehicle Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Off-highway Electric Vehicle Market: Market Share Analysis
14.2. Off-highway Electric Vehicle Distributors and Customers
14.3. Off-highway Electric Vehicle Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Hitachi Construction Machinery
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Caterpillar
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Komatsu
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. JCB
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Volvo Construction Equipment
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Deere & Company
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. CNH Industrial
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Sandvik
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Liebherr
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Epiroc
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
