Market Overview:
The global off-highway hybrid vehicles market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for fuel-efficient and environment-friendly vehicles across the globe. Off-highway hybrid vehicles are powered by two or more power sources such as an internal combustion engine and an electric motor. These vehicles offer better fuel efficiency as compared to traditional diesel or gasoline engines, which is driving their adoption in various industries such as construction, agriculture, mining, and others. The global off-highway hybrid vehicle market can be segmented on the basis of type into lead acid battery, lithium ion battery, and other types. The lead acid battery segment is expected to hold a major share of the global market during the forecast period owing to its low cost and easy availability. However, with advancements in technology, lithium ion batteries are becoming increasingly popular due to their high energy density and longer life span as compared to lead acid batteries.
Product Definition:
Off-highway hybrid vehicles are designed to run on a combination of gasoline and electricity. They are important because they can help reduce emissions and save fuel.
Lead Acid Battery:
Lead-acid batteries are widely used in applications where high power is required, such as in traction and marine vehicles. They are also used for starting systems in off-highway hybrid vehicles. Lead acid batteries offer several advantages over other battery types; however, they have certain disadvantages as well.
Lithium Ion Battery:
Lithium-ion (Li-ion) batteries are commonly used in hybrid electric vehicles (HEV), power tools, and other applications. They are also used as an alternative to the conventional lead acid battery for on-highway commercial vehicles. The growing demand for HEVs is expected to drive the lithium ion battery market over the forecast period.
Application Insights:
The construction industry accounted for the largest share of over 30.0% in 2017. The growing construction industry across the globe is anticipated to be a key factor driving the demand for off-highway hybrid vehicles over the forecast period. Agriculture application segment is expected to witness significant growth owing to increasing use of tractors and other farm equipment that uses diesel as a primary power source, followed by gasoline engine as an auxiliary power source.
The mining machinery industry also accounted for significant share in 2017 owing to high demand from China, Australia, Argentina and India among others countries with high mineral wealth such as copper (Chile), silver (Peru), iron ore (Brazil) among others commodities mined globally including gold, platinum group metals and uranium which are used in nuclear reactors globally which further results into increased demand for off-highway hybrid vehicles worldwide particularly in developed regions such as North America.
Regional Analysis:
Asia Pacific is expected to be the fastest growing market for off-highway hybrid vehicles with a CAGR of XX% from 2018 to 2030. The growth can be attributed to increasing government regulations regarding greenhouse gas emissions and noise pollution. China, India, Japan, South Korea are the major countries in this region that have shown high demand for these vehicles owing to their large construction industry and agriculture machinery markets.
The North America market was valued at USD X million in 2017 and is projected to grow at a significant rate over the forecast period owing to rising demand from U.S., Canada as well as Mexico’s construction industry coupled with increasing adoption of diesel engines by farmers due to favorable government policies such as price supports & income support programs which resulted into increased sales volume of diesel powered off-highway equipment in agricultural applications across North America region during 2014 - 2016 period were responsible for propelling market growth over last few years.
Growth Factors:
- Increasing demand for fuel-efficient vehicles: The global market for off-highway hybrid vehicles is expected to grow at a CAGR of more than 9% from 2016 to 2020. This can be attributed to the increasing demand for fuel-efficient vehicles across the globe.
- Stringent emission norms: Stringent emission norms are encouraging OEMs to develop and deploy off-highway hybrid technologies that help reduce emissions from these vehicles. For instance, the US Environmental Protection Agency (EPA) has set stringent Tier 4 Final emission standards for off-highway diesel engines, which will come into effect in January 2017. This is likely to drive the growth of the market for off-highway hybrids in North America during the forecast period.
- Technological advancements: Off-highway hybrid technology is evolving rapidly with new innovations being introduced regularly by OEMs and suppliers alike. This is helping improve performance and efficiency of these systems, thereby driving their adoption among end users worldwide..
Scope Of The Report
Report Attributes
Report Details
Report Title
Off-Highway Hybrid Vehicles Market Research Report
By Type
Lead Acid Battery, Lithium Ion Battery, Other
By Application
Construction Industry, Agriculture, Mining Machinery Industry, Other
By Companies
Dana, Hitachi, Kobelco, Volvo, Caterpillar, Komatsu, Zoomlion, John Deere, Doosan Infracore, XCMG, Liebherr, Wirtgen Group, SANY, Dynapac, BOMAG
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
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Off-Highway Hybrid Vehicles Market Report Segments:
The global Off-Highway Hybrid Vehicles market is segmented on the basis of:
Types
Lead Acid Battery, Lithium Ion Battery, Other
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 Industry, Agriculture, Mining Machinery Industry, Other
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:
- Dana
- Hitachi
- Kobelco
- Volvo
- Caterpillar
- Komatsu
- Zoomlion
- John Deere
- Doosan Infracore
- XCMG
- Liebherr
- Wirtgen Group
- SANY
- Dynapac
- BOMAG
Highlights of The Off-Highway Hybrid Vehicles 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:
- Lead Acid Battery
- Lithium Ion Battery
- Other
- By Application:
- Construction Industry
- Agriculture
- Mining Machinery Industry
- Other
- 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 Hybrid Vehicles 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
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- 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?
Off-highway hybrid vehicles are a type of hybrid vehicle that use both on- and off-road capabilities. Off-highway hybrids typically have a higher ground clearance than regular hybrids, making them better suited for off-road use.
Some of the major companies in the off-highway hybrid vehicles market are Dana, Hitachi, Kobelco, Volvo, Caterpillar, Komatsu, Zoomlion, John Deere, Doosan Infracore, XCMG, Liebherr, Wirtgen Group, SANY, Dynapac, BOMAG.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Off-Highway Hybrid Vehicles 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 Hybrid Vehicles 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 Hybrid Vehicles Market - Supply Chain
4.5. Global Off-Highway Hybrid Vehicles Market Forecast
4.5.1. Off-Highway Hybrid Vehicles Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Off-Highway Hybrid Vehicles Market Size (000 Units) and Y-o-Y Growth
4.5.3. Off-Highway Hybrid Vehicles Market Absolute $ Opportunity
5. Global Off-Highway Hybrid Vehicles 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 Hybrid Vehicles Market Size and Volume Forecast by Type
5.3.1. Lead Acid Battery
5.3.2. Lithium Ion Battery
5.3.3. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Off-Highway Hybrid Vehicles 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 Hybrid Vehicles Market Size and Volume Forecast by Application
6.3.1. Construction Industry
6.3.2. Agriculture
6.3.3. Mining Machinery Industry
6.3.4. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Off-Highway Hybrid Vehicles 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 Hybrid Vehicles 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 Hybrid Vehicles 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 Hybrid Vehicles 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 Hybrid Vehicles Demand Share Forecast, 2019-2026
9. North America Off-Highway Hybrid Vehicles 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 Hybrid Vehicles 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 Hybrid Vehicles Market Size and Volume Forecast by Application
9.4.1. Construction Industry
9.4.2. Agriculture
9.4.3. Mining Machinery Industry
9.4.4. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Off-Highway Hybrid Vehicles Market Size and Volume Forecast by Type
9.7.1. Lead Acid Battery
9.7.2. Lithium Ion Battery
9.7.3. Other
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 Hybrid Vehicles Demand Share Forecast, 2019-2026
10. Latin America Off-Highway Hybrid Vehicles 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 Hybrid Vehicles 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 Hybrid Vehicles Market Size and Volume Forecast by Application
10.4.1. Construction Industry
10.4.2. Agriculture
10.4.3. Mining Machinery Industry
10.4.4. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Off-Highway Hybrid Vehicles Market Size and Volume Forecast by Type
10.7.1. Lead Acid Battery
10.7.2. Lithium Ion Battery
10.7.3. Other
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 Hybrid Vehicles Demand Share Forecast, 2019-2026
11. Europe Off-Highway Hybrid Vehicles 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 Hybrid Vehicles 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 Hybrid Vehicles Market Size and Volume Forecast by Application
11.4.1. Construction Industry
11.4.2. Agriculture
11.4.3. Mining Machinery Industry
11.4.4. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Off-Highway Hybrid Vehicles Market Size and Volume Forecast by Type
11.7.1. Lead Acid Battery
11.7.2. Lithium Ion Battery
11.7.3. Other
11.8. Basis Point Share (BPS) 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 Hybrid Vehicles Demand Share, 2019-2026
12. Asia Pacific Off-Highway Hybrid Vehicles 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 Hybrid Vehicles 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 Hybrid Vehicles Market Size and Volume Forecast by Application
12.4.1. Construction Industry
12.4.2. Agriculture
12.4.3. Mining Machinery Industry
12.4.4. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Off-Highway Hybrid Vehicles Market Size and Volume Forecast by Type
12.7.1. Lead Acid Battery
12.7.2. Lithium Ion Battery
12.7.3. Other
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 Hybrid Vehicles Demand Share, 2019-2026
13. Middle East & Africa Off-Highway Hybrid Vehicles 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 Hybrid Vehicles 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 Hybrid Vehicles Market Size and Volume Forecast by Application
13.4.1. Construction Industry
13.4.2. Agriculture
13.4.3. Mining Machinery Industry
13.4.4. Other
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 Hybrid Vehicles Market Size and Volume Forecast by Type
13.7.1. Lead Acid Battery
13.7.2. Lithium Ion Battery
13.7.3. Other
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 Hybrid Vehicles Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Off-Highway Hybrid Vehicles Market: Market Share Analysis
14.2. Off-Highway Hybrid Vehicles Distributors and Customers
14.3. Off-Highway Hybrid Vehicles Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Dana
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Hitachi
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Kobelco
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Volvo
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Caterpillar
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Komatsu
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Zoomlion
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. John Deere
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Doosan Infracore
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. XCMG
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Liebherr
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Wirtgen Group
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. SANY
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Dynapac
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. BOMAG
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
