Automobiles are not only for the transportation of passengers and goods & materials but also for the production of specialized vehicles. This is due to the growth of the automotive industry. Specialty vehicles are required in agriculture, construction, and oil refineries. Such vehicles require special engine like an off-highway engine. The off-highway engine has to adhere to the strict emission norms laid down by the government. Therefore, its production requires special design and production layout. Market Research Future (MRFR) has published a research report about the global automotive off-highway engine market that anticipates boost for this market at 9% CAGR (Compound Annual Growth Rate) between 2020 and 2027.
The major factors contributing to the growth of the global automotive off-highway engine market are increasing population, need for automation, and mass scale production. Other factors contributing to the market include advanced machinery being used for off-highway engines, leading to greater productivity and reduced labor costs (leading to a reduction in production costs).
The global automotive off-highway engine market has been segmented on the basis of energy capacity, fuel type, power output, and lastly, region. Based on energy capacity, the market has been segmented into less than 5 liters, 5.1 - 10 liters, and above 10 liters. By fuel type, the market has been segmented into diesel, gasoline, and others. On the basis of power output, the market has been segmented into 30-100 HP, 100-400 HP, and Above 400 HP.
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The regional segmentation of the global automotive off-highway engine market segments the global market into regional markets known as North America, Asia Pacific, Europe, and rest of the world (RoW). The Asia Pacific is the largest as well as the fastest growing regional market. The regional markets contributing to the growth of the automotive industry are China, India, and Japan. Japan is the most technologically advanced regional market, leading to various innovations. Automation is increasing in sectors like agriculture and construction, the growing economies like China and India. Other factors aiding the market growth in this region are growing urbanization and rapid industrialization. Many original equipment manufacturers (OEMs) are based in the Asia Pacific region, boosting the market. For agricultural activities such as harvesting, plowing, and sowing, farmers, are preferring high-performance off-highway engines and increasing demand for them.
North America is another key regional market. In this region, the market is growing due to the presence of major manufacturers, technological advancement, and heavy research and development (R&D) with regards to the automotive sector. The leading country-specific markets in this region are USA and Canada.
Europe is another significant regional market due to the high density of population, established automotive industry, high level of technological advancement that is second only to North America, and presence of many key market players. The main country-specific markets in this region are France, Germany, Italy, and the UK, followed by the remaining countries of Europe.
Key Players
The key players in the global automotive off-highway engine market include AGCO Corporation (USA), Caterpillar Inc. (USA), Cummins Inc. (USA), Deere & Company (USA), Deutz AG (Germany), J.C. Bamford Excavators Limited (UK), Kubota Corporation (Japan), Mahindra and Mahindra Limited (India), Massey Ferguson Limited (USA), and Volvo Group (Sweden).
Latest Industry News
· The Germany-based SEG Automotive, who is famous for manufacturing electrification components, generators, and starter motors, is now working on several new products for improving fuel economy and in turn, reduce CO2 emissions. 28 NOV 2018
· The Advanced Propulsion Centre (APC) has awarded £35 mn (the US $ 45.3 mn) to three UK-based low-carbon automotive powertrain projects. These projects might reduce CO₂ by three million tonnes and create or safeguard nearly 1,800 jobs in UK. 8 AUG 2018
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Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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