시장보고서
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OHV(Off-Highway Vehicle)용 엔진 시장 : 출력별, 연료 유형별, 최종 이용 산업별, 지역별, 기회, 예측(2017-2031년)

Off-Highway Vehicle Engine Market Assessment, By Power Output, By Fuel Type, By End-use Industry, By Region, Opportunities and Forecast, 2017-2031F

발행일: | 리서치사: Market Xcel - Markets and Data | 페이지 정보: 영문 234 Pages | 배송안내 : 3-5일 (영업일 기준)

    
    
    


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세계의 OHV(Off-Highway Vehicle)용 엔진 시장 규모는 예측 기간인 2024년부터 2031년까지 6.65%의 연평균 복합 성장률(CAGR)로 확대될 전망이며, 2023년 366억 4,000만 달러에서 2031년에는 613억 3,000만 달러로 성장이 예측됩니다. 이 시장은 최근 현저한 성장을 이루고 있으며, 앞으로도 확대가 계속될 것으로 예상됩니다. OHV(Off-Highway Vehicle)는 오프하이웨이에서 사용, 특히 부정지에서 사용하도록 설계된 전동 차량입니다. OHV(Off-Highway Vehicle)용 엔진의 장점으로는 고출력, 내구성, 연료 효율 등이 있습니다. OHV(Off-Highway Vehicle)용 엔진 시장의 성장을 가속하는 요인으로는 건설 기계 및 농업 기계 수요 증가, 세계 제조 사업 확대, 효율적이고 저공해 대체 엔진 개발 등이 있습니다. 건설기계와 농업기계 수요 증가는 특히 농업산업이 경제에 크게 공헌하고 있는 개발도상국에서 OHV(Off-Highway Vehicle)용 엔진 시장의 성장을 가속하는 주요 요인 중 하나입니다. 게다가, 급속한 도시화는 시장 성장률을 크게 증가시키고 있습니다.

상용 프로젝트는 OHV(Off-Highway Vehicle)용 엔진 시장의 성장을 획기적으로 촉진하고 있습니다. 자동화 및 대량 생산의 필요성으로 인해 OHV(Off-Highway Vehicle)용 엔진을 지원하는 고급 기계가 개발되어 시간을 절약하고 인건비를 줄일 수 있습니다. 전동화 동향 및 저 배출 가스 엔진에 대한 관심 증가는 시장 성장에 더욱 기여하고 있습니다.

저배출 가스 엔진에 대한 주목이 높아짐에 따라 OHV(Off-Highway Vehicle)용 엔진 시장을 크게 견인하고 있습니다. 이 초점은 배출가스 감축을 위한 정부규제 및 연료효율의 지속적인 개선에 의해 뒷받침되고 있습니다. 이산화탄소 배출량의 삭감이라는 끊임없는 요청을 받아, 연비 절감 기술의 이용, 저배출량으로 보다 뛰어난 성능을 발휘하는 엔진의 개발이 활발해지고 있습니다. 또한, OHV(Off-Highway Vehicle)용 엔진으로부터의 배출가스를 제어하는 기술의 상업화 및 개발은 오프로드 배출가스를 현저하게 감소시키고, 시장의 저배출가스 엔진에 대한 수요를 더욱 증가시키고 있습니다.

본 보고서에서는 세계의 OHV(Off-Highway Vehicle)용 엔진 시장에 대해 조사했으며, 시장 개요와 함께 출력별, 연료 유형별, 최종 이용 산업별, 지역별 동향, 시장 진출기업 프로파일 등의 정보를 제공합니다.

목차

제1장 조사 방법

제2장 프로젝트의 범위 및 정의

제3장 주요 요약

제4장 고객의 목소리

제5장 세계의 OHV(Off-Highway Vehicle)용 엔진 시장 전망(2017-2031년)

  • 시장 규모 및 예측
  • 출력별
  • 연료 유형별
  • 최종 이용 산업별
  • 지역별
  • 기업별 시장 점유율(%)(2023년)

제6장 세계의 OHV(Off-Highway Vehicle)용 엔진 시장 전망 : 지역별(2017-2031년)

  • 북미
  • 유럽
  • 아시아태평양
  • 남미
  • 중동 및 아프리카

제7장 시장 매핑(2023년)

제8장 거시적 환경 및 산업 구조

  • 수요 공급 분석
  • 수출입 분석
  • 밸류체인 분석
  • PESTEL 분석
  • Porter's Five Forces 분석

제9장 시장 역학

제10장 주요 진입기업의 정세

제11장 가격 분석

제12장 사례 연구

제13장 주요 기업의 전망

  • Cummins Inc.
  • Caterpillar Inc.
  • Hitachi Construction Machinery Co. Ltd.
  • Mahindra & Mahindra Ltd.
  • Deutz AG
  • Kubota Corporation
  • Deere & Company
  • Komatsu Ltd.
  • AGCO Corporation
  • JC Bamford Excavators Ltd.

제14장 전략적 제안

제15장 문의 및 면책사항

AJY 24.03.04

Global Off-Highway Vehicle Engine market is projected to witness a CAGR of 6.65% during the forecast period 2024-2031, growing from USD 36.64 billion in 2023 to USD 61.33 billion in 2031. The market has experienced a significant growth rate in recent years and is expected to maintain its expansion over the years to come. Off-highway vehicles are motorized vehicles designed for off-highway use, specifically on uneven terrains. The benefits of off-highway vehicle engines include high power output, durability, and fuel efficiency. The factors driving the growth of the off-highway vehicle engine market include increasing demand for construction and agricultural equipment, expanding manufacturing operations globally, and the development of alternative efficient and less-polluting engines. The increasing demand for construction and agricultural equipment is one of the main factors driving growth in the off-highway vehicle engine market, especially in developing nations where the agricultural industry substantially contributes to the economy. Moreover, rapid urbanization is also enhancing the market's growth rate extensively.

For example, in January 2024, Italian American off-road construction and agriculture firm CNH planned to invest up to USD 50 million in the farm machinery segment in India and launch a 105HP tractor in May 2024. CNH, which produced and sold farm machinery and equipment under the New Holland brand, focused on the compact range of tractors of below 30-40 horsepower (HP), besides targeting to sell 1,000 baler machines (used for managing stubble) that year. At that time, CNH India had a four per cent market share in the tractor business in India and had a considerable presence in the 45-50 HP range of tractors.

Commercial Projects are Amplifying the Market Growth

Commercial projects are driving the growth of the off-highway vehicle engine market at an exponential rate. The need for automation and mass-scale production has led to the development of advanced machinery that works on off-highway engines, saving time and reducing labor costs. The electrification trend and the increasing focus on low-emission engines further contribute to the market's growth.

For example, in November 2023, Caterpillar launched a three-year project to develop an advanced hydrogen-hybrid power solution for off-highway vehicles. The project, partially funded by the United States Department of Energy, aimed to create a hydrogen-fuel system for off-highway machinery, leveraging the versatile new Cat C13D engine platform. This initiative is part of Caterpillar's commitment to reducing greenhouse gas emissions and providing flexible power solutions to meet the unique demands of off-highway application.

Increasing Focus on Low-Emission Engines is Boosting the Market Significantly

The increasing focus on low-emission engines extensively drives the off-highway vehicle engine market. This focus has been fueled by government regulations for emissions reductions and the continued improvements in fuel efficiency. The use of fuel-saving technologies and the development of engines that provide better performance with lower emissions have gained traction in response to the relentless call to reduce carbon footprints. Additionally, the commercialization and development of technologies that control emissions from off-highway engines have led to a notable reduction in off-road emissions, further driving the demand for low-emission engines in the market.

For example, the California Air Resources Board (CARB) provided an update on the Tier 5 emission standards for off-road engines, proposing significant reductions of 90% and 75% in NOx and PM emissions, respectively, compared to the existing Tier 4 standards. The proposed Tier 5 standards aim to reduce oxides of nitrogen (NOx) and particulate matter (PM) emissions from new, off-road compression-ignition (CI) engines.

Government Initiatives

The government's involvement is crucial in accelerating the decarbonization of the off-highway vehicle sector. Efforts to reduce emissions from off-road vehicles have historically involved substituting biofuels into conventional diesel engines. Government initiatives, in collaboration with industry stakeholders and research institutions, are essential for conducting precompetitive research, developing innovative technologies, and convening diverse stakeholders to address the complexities of decarbonizing off-highway vehicle engines.

For instance, in June 2023, Norwegian government planned to open an area of ocean almost the size of Germany to deep-sea mining for mining engines, despite facing global opposition. The government has proposed opening over 280,000 square kilometers of the country's territorial waters to deep-sea mining, which could make Norway the first country to start commercial deep-sea mining. The move is driven by the increasing demand for minerals such as cobalt and nickel, which are used in electric car batteries and solar panels.

The Marine Industry is Amplifying the Market Growth Extensively

The marine industry is amplifying the growth of the off-highway vehicle engine market through its increasing demand for construction and mining equipment, which relies on off-highway engines. Additionally, the electrification trend and the increasing focus on low-emission engines further contribute to the market's growth.

For instance, in 2023, the California Air Resources Board issued Executive Orders for MY2023 Spark-Ignited Marine Engines, granting certifications to manufacturers of spark-ignited marine engine families. These orders pertained to newly certified spark-ignited marine engines and evaporative families. Moreover, the issuance of these executive orders aligned perfectly with the regulatory efforts to address emissions from new gasoline spark-ignition marine engines, thereby reflecting ongoing oversight and compliance measures in the marine industry.

Asia-Pacific Comprehensively led the Off-Highway Vehicle Engine Market

Asia Pacific led the off-highway vehicle engine market due to several factors. Firstly, the region's dominance is attributed to the increasing demand for construction and mining equipment in countries such as China and India, which are among the largest tractor markets in the world. Furthermore, the growth in infrastructure activities, such as road construction and housing, has fueled the demand for off-highway vehicles in the region. The rising agriculture market and mechanization trend in developing countries have also contributed to the region's leadership.

For example, in January 2023, Cummins introduced a new generation of off-highway engines, the CS IV range, specifically designed for the Chinese market. These upgraded engines, with displacements ranging from 2.8 to 15 liters, offer a power output of 48-674 hp (36-503 kW), catering to various applications, including construction and mining equipment. The engines are engineered to deliver higher power output and torque, addressing the increasing demand for high-performance and efficient engines in China's growing construction and infrastructure sectors.

Future Market Scenario (2024 - 2031F)

The increasing demand for fuel-efficient and low-emission engines is expected to drive the growth of the off-highway vehicle engine market, which in turn is expected to cater to ample opportunities for growth over the upcoming years.

The growing electrification trend in off-highway vehicles is expected to create new opportunities for the off-highway vehicle engine market.

Moreover, the increasing demand for agricultural machinery and equipment is expected to drive the growth of the off-highway vehicle engine market and create substantial opportunities for market expedition over the years to come.

The increasing adoption of advanced technologies such as telematics and IoT in off-highway vehicles is anticipated to lead to ample possibilities for market prosperity in future.

The continuously rising demand for compact and lightweight engines is significantly augmenting the market and is anticipated to result in myriad opportunities for growth over the years to come.

Furthermore, key players are focusing on strategic collaborations to increase the efficacy of their respective engines, which in turn, is expected to lead to extensive opportunities for market prosperity in future.

Key Players Landscape and Outlook

The off-highway vehicle engine market participants include Deutz AG, Cummins Inc., Mahindra & Mahindra Ltd., Kubota Corporation, Caterpillar Inc., and Deere & Company. These market players in the off-highway vehicle engine market prioritized technological advancements and strategic partnerships to bolster market revenue and establish a strong position in the highly competitive market. This focus on innovation and collaboration is driven by the market's steady growth and increasing competition, with significant expansion expected in the future.

In April 2023, Caterpillar unveiled the Cat C13D, a new 13-liter off-diesel engine platform, designed to achieve best-in-class power density, torque, and fuel efficiency for heavy duty off-highway applications with power requirements from 456 to 690 hp. The engine was designed adequately to meet the emissions standards of higher regulated markets.

In March 2023, Kubota showcased its newly developed 3.8-liter hydrogen engine at CONEXPO- 2023. The engine, designed for industrial off-highway applications, is a four-cylinder unit with a power output of 85 kW. It operates solely on hydrogen, eliminating carbon dioxide emissions. Moreover, the engine's design is like that of gasoline engines, and it represents a significant step towards carbon neutrality and the use of alternative, environmentally friendly power sources in off-highway equipment.

Table of Contents

1. Research Methodology

2. Project Scope & Definitions

3. Executive Summary

4. Voice of Customer

  • 4.1. Product and Market Intelligence
  • 4.2. Mode of Brand Awareness
  • 4.3. Factors Considered in Purchase Decisions
    • 4.3.1. Price
    • 4.3.2. Quality
    • 4.3.3. Capacity
    • 4.3.4. Fuel Type
    • 4.3.5. Performance Efficacy
    • 4.3.6. Durability
  • 4.4. Consideration of Privacy & Safety Regulations

5. Global Off-Highway Vehicle Engine Market Outlook, 2017-2031F

  • 5.1. Market Size & Forecast
    • 5.1.1. By Value
    • 5.1.2. By Volume
  • 5.2. By Power Output
    • 5.2.1. Under 50 Hp
    • 5.2.2. Between 50 and 100 Hp
    • 5.2.3. More than 100 Hp
  • 5.3. By Fuel Type
    • 5.3.1. Gasoline
    • 5.3.2. Diesel
    • 5.3.3. Others
  • 5.4. By End-use Industry
    • 5.4.1. Agriculture
    • 5.4.2. Oil and Gas
    • 5.4.3. Construction
    • 5.4.4. Marine
    • 5.4.5. Mining
    • 5.4.6. Others
  • 5.5. By Region
    • 5.5.1. North America
    • 5.5.2. Europe
    • 5.5.3. Asia-Pacific
    • 5.5.4. South America
    • 5.5.5. Middle East and Africa
  • 5.6. By Company Market Share (%), 2023

6. Global Off-Highway Vehicle Engine Market Outlook, By Region, 2017-2031F

  • 6.1. North America*
    • 6.1.1. Market Size & Forecast
      • 6.1.1.1. By Value
      • 6.1.1.2. By Volume
    • 6.1.2. By Power Output
      • 6.1.2.1. Under 50 Hp
      • 6.1.2.2. Between 50 and 100 Hp
      • 6.1.2.3. More than 100 Hp
    • 6.1.3. By Fuel Type
      • 6.1.3.1. Gasoline
      • 6.1.3.2. Diesel
      • 6.1.3.3. Others
    • 6.1.4. By End-use Industry
      • 6.1.4.1. Agriculture
      • 6.1.4.2. Oil and Gas
      • 6.1.4.3. Construction
      • 6.1.4.4. Marine
      • 6.1.4.5. Mining
      • 6.1.4.6. Others
    • 6.1.5. United States*
      • 6.1.5.1. Market Size & Forecast
      • 6.1.5.1.1. By Value
      • 6.1.5.1.2. By Volume
      • 6.1.5.2. By Power Output
      • 6.1.5.2.1. Under 50 Hp
      • 6.1.5.2.2. Between 50 and 100 Hp
      • 6.1.5.2.3. More than 100 Hp
      • 6.1.5.3. By Fuel Type
      • 6.1.5.3.1. Gasoline
      • 6.1.5.3.2. Diesel
      • 6.1.5.3.3. Others
      • 6.1.5.4. By End-use Industry
      • 6.1.5.4.1. Agriculture
      • 6.1.5.4.2. Oil and Gas
      • 6.1.5.4.3. Construction
      • 6.1.5.4.4. Marine
      • 6.1.5.4.5. Mining
      • 6.1.5.4.6. Others
    • 6.1.6. Canada
    • 6.1.7. Mexico

All segments will be provided for all regions and countries covered

  • 6.2. Europe
    • 6.2.1. Germany
    • 6.2.2. France
    • 6.2.3. Italy
    • 6.2.4. United Kingdom
    • 6.2.5. Russia
    • 6.2.6. Netherlands
    • 6.2.7. Spain
    • 6.2.8. Turkey
    • 6.2.9. Poland
  • 6.3. Asia-Pacific
    • 6.3.1. India
    • 6.3.2. China
    • 6.3.3. Japan
    • 6.3.4. Australia
    • 6.3.5. Vietnam
    • 6.3.6. South Korea
    • 6.3.7. Indonesia
    • 6.3.8. Philippines
  • 6.4. South America
    • 6.4.1. Brazil
    • 6.4.2. Argentina
  • 6.5. Middle East & Africa
    • 6.5.1. Saudi Arabia
    • 6.5.2. UAE
    • 6.5.3. South Africa

7. Market Mapping, 2023

  • 7.1. By Power Output
  • 7.2. By Fuel Type
  • 7.3. By End-use Industry
  • 7.4. By Region

8. Macro Environment and Industry Structure

  • 8.1. Demand Supply Analysis
  • 8.2. Import Export Analysis
  • 8.3. Value Chain Analysis
  • 8.4. PESTEL Analysis
    • 8.4.1. Political Factors
    • 8.4.2. Economic System
    • 8.4.3. Social Implications
    • 8.4.4. Technological Advancements
    • 8.4.5. Environmental Impacts
    • 8.4.6. Legal Compliances and Regulatory Policies (Statutory Bodies Included)
  • 8.5. Porter's Five Forces Analysis
    • 8.5.1. Supplier Power
    • 8.5.2. Buyer Power
    • 8.5.3. Substitution Threat
    • 8.5.4. Threat from New Entrant
    • 8.5.5. Competitive Rivalry

9. Market Dynamics

  • 9.1. Growth Drivers
  • 9.2. Growth Inhibitors (Challenges and Restraints)

10. Key Players Landscape

  • 10.1. Competition Matrix of Top Five Market Leaders
  • 10.2. Market Revenue Analysis of Top Five Market Leaders (in %, 2023)
  • 10.3. Mergers and Acquisitions/Joint Ventures (If Applicable)
  • 10.4. SWOT Analysis (For Five Market Players)
  • 10.5. Patent Analysis (If Applicable)

11. Pricing Analysis

12. Case Studies

13. Key Players Outlook

  • 13.1. Cummins Inc.
    • 13.1.1. Company Details
    • 13.1.2. Key Management Personnel
    • 13.1.3. Products & Services
    • 13.1.4. Financials (As reported)
    • 13.1.5. Key Market Focus & Geographical Presence
    • 13.1.6. Recent Developments
  • 13.2. Caterpillar Inc.
  • 13.3. Hitachi Construction Machinery Co. Ltd.
  • 13.4. Mahindra & Mahindra Ltd.
  • 13.5. Deutz AG
  • 13.6. Kubota Corporation
  • 13.7. Deere & Company
  • 13.8. Komatsu Ltd.
  • 13.9. AGCO Corporation
  • 13.10. JC Bamford Excavators Ltd.

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.

14. Strategic Recommendations

15. About Us & Disclaimer

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