The Market for Automotive Off-Highway Engines is anticipated to grow with a CAGR of roughly 9%.
Automotive Off-Highway Engines Market 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.
Automotive Off-Highway Engines Market
Research Future Insights:
Automotive
Off-Highway Engines Market - 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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Sample Report of Automotive Off-Highway Engines Market
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.
Automotive Off-Highway Engines Market 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.
Automotive Off-Highway Engines 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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