Global Off-Highway Electric Vehicles Market Report 2022-2030: Product Launches, Advancements in Technologies, & Rising Demand for Low-Noise and Emission-Free Construction Machines

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Jun 01, 2022, 08:00 ET

DUBLIN, June 1, 2022 /PRNewswire/ -- The "Off-Highway Electric Vehicles Market Report: By Propulsion, Energy Storage, Energy Storage Capacity, Power Output - Recent Trends and Demand Analysis Through 2030" report has been added to ResearchAndMarkets.com's offering.

The revenue of the off-highway electric vehicles market in 2030 will be $97,754.1 million, compared to an estimated $16,908.6 million in 2021, and it will witness a massive 21.5% CAGR between 2021 and 2030

The key reason behind it would be the technological advancements in electric propulsions, which have already been widely tested and adopted in on-road vehicles.

Key advancements in this regard include a higher battery capacity and power output, both of which are essential for the success of EVs. Moreover, all this must happen without an increase in the price of batteries, which remains a key concern for those switching or seeking to switch to electric mobility for on- and off-road purposes.

APAC continues to witness the highest demand for off-highway machines with fully electric or hybrid-electric propulsion. The region is the world's largest construction market and also the most-polluted, led by China and India in both these aspects. Therefore, the focus on integrating electric drivetrains in off-highway vehicles has become really strong here in the recent past. Additionally, APAC is the largest manufacturer of EVs, thus leading to their easy availability.

This presents lucrative opportunities for key off-highway electric vehicles market players, including Hyundai Doosan Infracore Co. Ltd., Komatsu Ltd., AB Volvo, Caterpillar Inc., LIEBHERR-International Deutschland GmbH, J.C. Bamford Excavators Limited, Sany Heavy Equipment International Holdings Company Limited, DEERE & COMPANY, Epiroc AB, and Hitachi Ltd.

Thus, they have begun entering into partnerships and collaborations, merging with and acquiring similar firms, and expanding their geographical presence, apart from launching new vehicle models.

Key Findings of Off-Highway Electric Vehicles Market Report

Another major driver for the sale of such vehicles is the growing demand for low-emission and -noise machines in the construction sector, as they can operate in densely populated areas and even indoors.
Thus, the BEV category dominates the off-highway electric vehicles market in the propulsion segment. The absence of the diesel engine not only makes BEVs emission-free, but also extremely quiet.
This is also consistent with construction being the largest application area of off-highway electric vehicles. The global population boom is making the construction of civic, industrial, commercial, and residential infrastructure necessary.
In this regard, the stringent emission regulations being implemented on conventional vehicles around the world are playing a major part, by making these automobiles increasingly expensive.
During the COVID-19 pandemic, the sale of such equipment witnessed a massive downfall due to the closure of construction sites, mines and oil & gas projects, and many manufacturing plants, including of these vehicles themselves.
However, the race to finish the delayed infrastructure projects as soon as possible is benefitting the off-highway electric vehicles market in the post-lockdown era, with many OEMs launching new vehicle models suited to different purposes.

Key Topics Covered:

Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Analysis Period
1.4 Market Data Reporting Unit
1.5 Market Size Breakdown by Segment
1.6 Key Stakeholders

Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Voice of Industry Experts/Kols

Chapter 5. Market Indicators
5.1 Global Electric Vehicle Stock

Chapter 6. Definition of Market Segments
6.1 Propulsion
6.1.1 Hev
6.1.2 Bev
6.1.3 Others
6.2 Energy Storage Type
6.2.1 Li-Ion Battery
6.2.2 Lead-Acid Battery
6.2.3 Others
6.3 Energy Storage Capacity
6.3.1 <_0 />6.3.2 50-200 Kwh
6.3.3 >200 Kwh
6.4 Power Output
6.4.1 <_0 />6.4.2 50-150 Hp
6.4.3 150-300 Hp
6.4.4 >300 Hp
6.5 Application
6.5.1 Agriculture
6.5.2 Construction
6.5.3 Mining

Chapter 7. Industry Outlook
7.1 Market Dynamics
7.1.1 Trends
7.1.1.1 Product Launches
7.1.2 Drivers
7.1.2.1 Advancements in Technologies
7.1.2.2 Rising Demand for Low-Noise and Emission-Free Construction Machines
7.1.3 Impact Analysis of Drivers on Market Forecast
7.1.4 Restraints
7.1.4.1 Productivity Loss Due to Long Charging Time
7.1.4.2 Lack of Charging Infrastructure
7.1.5 Impact Analysis of Restraints on Market Forecast
7.2 Impact of Covid-19
7.3 Value Chain Analysis
7.3.1 Raw Materials
7.3.2 Manufacturers
7.3.3 Oems
7.3.4 Aftermarket
7.4 Porter's Five Forces Analysis

Chapter 8. Policy and Regulatory Landscape
8.1 North America
8.2 Europe
8.3 Apac
8.4 Latam
8.5 Mea

Chapter 9. Global Market Size and Forecast
9.1 Overview
9.2 Market Volume, by Propulsion Type (2015-2030)
9.3 Market Revenue, by Propulsion Type (2015-2030)
9.4 Market Volume, by Energy Storage Type (2015-2030)
9.5 Market Revenue, by Energy Storage Type (2015-2030)
9.6 Market Volume, by Energy Storage Capacity (2015-2030)
9.7 Market Revenue, by Energy Storage Capacity (2015-2030)
9.8 Market Volume, by Power Output (2015-2030)
9.9 Market Revenue, by Power Output (2015-2030)
9.10 Market Volume, by Application (2015-2030)
9.11 Market Revenue, by Application (2015-2030)
9.12 Market Volume, by Region (2015-2030)
9.13 Market Revenue, by Region (2015-2030)

Chapter 10. North America Market Size and Forecast

Chapter 11. Europe Market Size and Forecast

Chapter 12. APAC Market Size and Forecast

Chapter 13. LATAM Market Size and Forecast

Chapter 14. MEA Market Size and Forecast

Chapter 15. U.S. Market Size and Forecast

Chapter 16. Canada Market Size and Forecast

Chapter 17. Germany Market Size and Forecast

Chapter 18. France Market Size and Forecast

Chapter 19. U.K. Market Size and Forecast

Chapter 20. Italy Market Size and Forecast

Chapter 21. Spain Market Size and Forecast

Chapter 22. China Market Size and Forecast

Chapter 23. Japan Market Size and Forecast

Chapter 24. India Market Size and Forecast

Chapter 25. Australia Market Size and Forecast

Chapter 26. South Korea Market Size and Forecast

Chapter 27. Brazil Market Size and Forecast

Chapter 28. Mexico Market Size and Forecast

Chapter 29. Saudi Arabia Market Size and Forecast

Chapter 30. South Africa Market Size and Forecast

Chapter 31. Competitive Landscape
31.1 List of Key Players and Their Offerings
31.2 Market Share Analysis of Key Players
31.3 Recent Strategic Developments of Key Players
31.3.1 Partnerships & Collaborations
31.3.2 Mergers & Acquisitions
31.3.3 Product Launches
31.3.4 Geographical Expansions
31.3.5 Others

Chapter 32. Company Profiles
32.1 Business Overview
32.2 Product and Service Offerings
32.3 Key Financial Summary