1. Market Research
  2. > Manufacturing
  3. > Industrial Machinery
  4. > Construction Equipment Market Trends
Electric Off-highway Equipment/Machinery Market - Segmented by Application, Equipment, and Geography - Growth, Trends, and Forecast (2019 - 2024)

Electric Off-highway Equipment/Machinery Market - Segmented by Application, Equipment, and Geography - Growth, Trends, and Forecast (2019 - 2024)

  • October 2019
  • 109 pages
  • ID: 5826200
  • Format: PDF
  • By Mordor Intelligence LLP

Summary

Table of Contents

Search Inside

Market Overview
The electric off-highway equipment/machinery market is anticipated to register a CAGR of about 4.69% during the forecast period, 2019 – 2024.

- Electrically propelled off-highway vehicles offer various advantages, such as high overall efficiency, high maneuverability, and accuracy during operations. Although electrification of off-highway vehicles has many advantages, its adoption in the industry is expected to be slow paced, due to various technological factors, such as limited storage capacity of the batteries
- Owing to the shortcomings of electrically propelled off-highway vehicles, the usage of hybrid off-highway vehicles is currently considered as a viable option, although the growth of the hybrid off-road vehicles market is restrained by high costs of development.
- Electrification of powertrains of off-highway vehicles (such as construction and mining machinery) has been in focus, owing to the concerns of emissions and noises generated by conventional diesel-powered machinery.
-Major players have increased their R&D expenditure exponentially, in order to integrate innovation with excellence in performance. The demand for high performance, highly efficient, and safe handling equipment from the end market is expected to make the market more competitive over the forecast period.

Scope of the Report
The electric off-highway equipment/machinery market is segmented by Powertrain Type ( Pure Electric, and Hybrid), By Equipment/Machinery ( Loaders, Excavators, Dump Trucks, LHD, and Others), By Industry Type (Construction and Mining, and Agricultural (Tractors)), and Geography( North America, Europe, Asia-Pacific, and Rest of the World)

Key Market Trends
Hybrid off-Highway Equipment/Machinery Leading the Market

With the introduction of stringent emission regulations by several governments across the world, the demand for hybrid off-highway equipment/machinery has been growing and further driving the manufacturers to launch environment-friendly machinery significantly since 2008.

Since 2017, off-highway equipment/machinery has been majorly adopting hybrid engine (i.e., diesel-electric) for the propulsion system. These diesel-electric hybrid drive systems allow you to run with a slightly smaller engine at a lower rpm. This translates into fuel savings, fewer part movements, and longer engine life. The other advantage of using a hybrid engine, apart from sustainability, is the reduction in vehicle noise.

With the introduction of 2014 EPA regulations of Tier 4 emission standards, off-highway machinery manufacturers have started investing heavily in R&D on electric and hybrid vehicles. However, the power required for the majority of off-highway machinery’s function is too high, therefore, the use of fully electric power sources is still limited.

Asia-Pacific is Leading the Electric Off-Highway Equipment/Machinery Market

The electric off-highway equipment/machinery market is led by Asia-Pacific, followed by North America and Europe. The government of China is encouraging people to adopt electric vehicles. The country has already made plans to phase out diesel fuel, which runs the current generation of tractors and construction equipment. The country is planning to completely ban ban diesel and petrol vehicles, by 2040. The electrification of farm machineries is also gaining momentum in the country. For example, China developed its first self-driving electric tractor, labeled with EPOCH. The tractor was produced by Henan Intelligent Agricultural Machinery Innovation Center and was launched in Luoyang.

The US construction industry grew, during the first half of 2018, but slower than 2017. As the construction industry is growing at a slower pace, which is also impacting the demand for construction machinery in the country.The United States is implementing stringent emission regulation, according to United States Environment Protection Agency, in 2017, the off-highway machineries contributed approximately 30% of the total greenhouse gas emission. Owing to which, the off-highway machinery manufacturers are opting electrical option and launching new electric off-highway machineries

Competitive Landscape
The electric off-highway equipment/machinery market is moderately consolidated and domainted by few players such as Caterpillar Inc., Deere & Company, Volve CE, XCMG Group, and among others.The major players have exponentially increased their R&D expenditures, in order to integrate innovation with excellence in performance. The demand for high performance, highly efficient, and safe handling equipment, from the end-user market, is expected to make the market more competitive over the forecast period.

Some of the important players that fall in the ‘Others’ category are AGCO, CLAAS, CNH Industrial NV, JCB, Kobelco, Yanmar, Atlas Copco AB, and many more

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
10% Off

($4250)

  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
Electric Off-Highway Vehicle Market - Segmented by Application, Equipment, and Geography - Growth, Trends, and Forecast (2019 - 2024)

Electric Off-Highway Vehicle Market - Segmented by Application, Equipment, and Geography - Growth, Trends, and Forecast (2019 - 2024)

  • $ 4250
  • August 2019

Market OverviewThe electric off-highway equipment/machinery market is anticipated to register a CAGR of about 4.69% during the forecast period, 2019 – 2024.- Electrically propelled off-highway vehicles ...

Saudi Arabia Elevator & Escalator Market, By Type, By Service, By Elevator Technology, By End-User, By Elevator Door Type, Competition, Forecast & Opportunities, 2024

Saudi Arabia Elevator & Escalator Market, By Type, By Service, By Elevator Technology, By End-User, By Elevator Door Type, Competition, Forecast & Opportunities, 2024

  • $ 3450
  • December 2019

Saudi Arabia Elevator & Escalator Market, By Type (Elevator, Escalator and Moving Walkways), By Service (Maintenance & Repair, New Installation and Modernization), By Elevator Technology (Traction, Hydraulic ...

Global and China Elevator Industry Report, 2019-2025

Global and China Elevator Industry Report, 2019-2025

  • $ 3000
  • November 2019

About 800,000 elevators were sold across the world in 2018, up 1% from a year ago thanks to the robust demand from China, India and the United States, and the ownership of elevators rose to virtually 15.3 ...


ref:plp2019

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on