Potential Opportunity Worth USD 18 Bn Opening Up in Off-Highway Vehicles - Exclusive Research Published by MarketsandMarkets™

CHICAGO, Feb. 11, 2022 /PRNewswire/ -- Disruption – Potential opportunity worth USD 18 Bn is expected to open up in Off-Highway Vehicles, owing to electrification which is expected to be the next big trend. The global electric off-highway vehicle market is projected to reach USD 14-18 Bn by 2025, owing to the development of long-range and fast charging battery technology and rising demand for low noise and emission-free construction machines in residential areas.

According to MarketsandMarkets™ analysis,

• There is ~USD 14-18 Bn potential within electric off-highway vehicles, more than half of which is contributed by electric construction equipment.
• Though Li-Ion batteries are dominating the e-OHV segment, the solid-state batteries are the next potential technology worth $300 Mn post 2023.
• Government initiatives is a key factor contributing to the adoption of electric off-highway vehicles at municipal corporation level (city use).
• Currently, businesses have low access to primary intelligence to clarify some unknowns and adjacencies in these opportunity areas –
• How are OEMs dealing with limited driving range and long charging time of eOHVs?
• Which would be the applications and regional/country level eOHV markets to target first?
• What will be the potential markets for hybrid and all electric battery and powertrain in next 5 years?
• What can EV component suppliers capitalize on in order to grow their eOHV production and sales?
• What would be the tipping point where electric off-highway vehicles would cross the sale of ICE vehicles?
• What should OEMs develop and build considering growing EOHV penetration? How are the competitors dealing with this trend?
• Which would be the applications and regional/country level EOHV markets to target first?
• What is the potential of EOHV with long cord in urban construction and underground mining?

Some of the growth problems encountered by off-highway vehicle companies are:

Customer prioritization and assessing unmet needs:

• What are the disruptions in our clients' businesses? How can we support them for our own growth?
• What are the key unmet needs of customers? Who are the key stakeholders in different settings? Do vendor selection criteria differ by settings? Which new product features should be added to the existing products?

Where to play:

• Which applications areas should we focus on? Should it be mining, construction, agriculture or any other?
• Which regions should we place our bets on? Should we continue with developed countries or do developing countries offer more growth opportunities?

Building a compelling Right-to-Win (RTW):

• For M&A, which are the right targets for us? Should we target battery development companies or consumables companies? Should we enter new markets directly or through partners?
• How can we differentiate from top players? What is their right-to-win vs ours?

Key uncertainties/perspectives which industry leaders seek answers to:

For off-highway vehicle companies:

• What would be the tipping point where electric off-highway vehicles would cross the sale of ICE vehicles?
• What should OEMs develop and build considering growing EOHV penetration? How are the competitors dealing with this trend?
• How are OEMs dealing with limited driving range and high charging time of EOHV?
• Which would be the applications and regional/country level EOHV markets to target first?
• What is the potential of EOHV with long cord in urban construction and underground mining?
• How should battery manufacturers deal with varying battery performance in harsh working environments?
• Which are the potential battery types to outperform Li-Ion batteries in near future?

For Companies in Adjacent markets:

• How recent and upcoming emission regulations in OHV sector will boost the market for emission aftertreatment devices?
• How would be the future of automation in underground mining?
• How would electric car battery development boost the electric OHV developments?
• What opportunities are there for hybrid and electric powertrain manufacturers in  off-highway vehicle industry in next five years?

Therefore, MarketsandMarkets™ research and analysis focuses on high growth and niche markets, such as construction equipment telematics mining equipment telematics, electric bus, electric off-highway vehicle, and related markets, which will become ~80% of the revenues of the off-highway vehicle ecosystem in the next 5-10 years.

Register for Whitepaper: https://www.marketsandmarkets.com/practices/pdfdownload.asp?p=off-highway-vehicle 

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected] 

SOURCE MarketsandMarkets