Automotive Off-highway Engine Market to Scale at a CAGR over 9% between 2017 and 2023

Pune, India, July, 2018 /MRFR Press Release/- Market Research Future published a Half Cooked research report on “Global Automotive Off-Highway Engine Market Research Report - Forecast to 2023”   – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Automotive off-highway engine refers to the engine of specialty vehicles manufactured according to the requirement in fields such as agriculture, construction, and oil refineries. Often, these specialty vehicles are custom made according to the requirement of the niche operation, for which the vehicle is to be used. Some of the types of specialty vehicles include Tractor, Unimog, Plow, Trailed sprayer, Round baler, Backhoe loader, Tree Trimmer excavators and mining trucks. Based on the parameters such as the power and load requirement of the operation, these off-highway automotive engines are designed.

Also, it is integral to adhere to the strict emission norms implemented by the government during the production of these vehicles. Specialty vehicles perceive a huge demand across the off-highway sector. And, the engine being one of the most integral parts in any automotive, these specialty engines perceive an augmented demand worldwide, which in turn, drives the automotive off-highway engine market, globally.

Acknowledging the kind of accruals the market is gaining currently, Market Research Future (MRFR) has recently published a study report giving out the complete market insight up to 2023. In its study report, MRFR asserts that the global automotive off-highway engine market will garner an exponential value by 2023 registering a CAGR of approx.9% between 2017 and 2023.

Ever-increasing population along with the rapid urbanization leads to the increasing demand for automation and mass scale production, prompting the demand for food and energy that is going to hike up significantly in the nearing future. Additional factors substantiating the market growth include; burgeoning agriculture and O&G sectors and a range of advantages that these off-highway vehicles can offer. For instance; using the advanced machinery and vehicles ensures greater yield, production at a much reduced time consumption and labor cost leading to a decrease in the production cost in any field of operation.

Access Report @ https://www.marketresearchfuture.com/reports/automotive-off-highway-engine-market-5964

Global Automotive Off-Highway Engine Market   - Segmentation

The Global Automotive Off-Highway Engine Market is segmented into flour key dynamics for an easy grasp and enhanced understanding.

By Power Output          :  Comprises - 30-100 HP, 100-400 HP, above 400 HP.

By Engine Capacities   :  <5 Litre, 5.1-10 Litre, >10 Litre.

By Fuel Types               :  Diesel and Gasoline among others.

By Regions           :  North America, Europe, APAC and Rest-of-the-World (RoW).

Global Automotive Off-Highway Engine Market   -

Regional Analysis

The Asia Pacific accounts for the leading market for the automotive off-highway engine, capturing the largest market share of the global market. With the rapid expansion in the automotive industry in the developing nations such as China, India, and Japan, the OEM’s have been focusing on developing technologically advanced and powerful engines to gain high torque and performance. 

Furthermore, the presence of long-established original equipment manufacturers provides impetus to the growth of the market in the region, providing the strong base for the robust development. Japan, being the automation research hub of Asia, leads the innovation in the market. Rising automation in agriculture and construction sectors in developing economies such as India and China are substantiating the demand for high powered off-highway engines.

Automotive Off-Highway Engine Market   - Competitive Analysis

The highly competitive market of the automotive off-highway engine is dependent on automobile sales and is driven by the increase in the production in the segment.  The market appears to be highly competitive and fragmented. A number of large and small key players are operating in the market, churning the competition.  To maintain their market position these players incorporate collaboration, acquisition, partnership, technology launch, and expansion.

The competitive nature of this market is envisaged to intensify as more engine models enter the mass market, which seems to be inevitable in the wake of increasing demand for these vehicles. These players emphasis upon new product development initiatives, and geographical expansion. The market is anticipated to witness relentless innovations and development of new products that will eventually result in intense competition among the engine manufacturers. The key manufacturers strive to develop products with the adept technologies, unrivaled design, and features.

Key Players:

Cummins Inc. (US), Caterpillar Inc. (US), Deutz AG (Germany), Volvo Group (Sweden), Kubota Corporation (Japan), Mahindra and Mahindra Limited (India), Deere & Company (US), AGCO Corporation (US), Massey Ferguson Limited (US), and J.C. Bamford Excavators Limited (UK) are some of the prominent players at the forefront of competition in the Global Automotive Off-Highway Engine Market. Profiling them in its analysis MRFR explores the strategies keeping them at the front

Industry/innovation/Related News:

June 22, 2018 – Tooling Technology Group, LLC (TTG – US), a leading global provider of tooling solutions for OEM, automotive suppliers, and off-road equipment announced the acquisition of Die Cad Group (DCG US), a global engineering services firm for leading OEM and off-highway automotive suppliers. 

The acquisition is expected to enhance TTG’s ability to provide a continuum of services from tooling design to simulation, manufacturing, production and even secondary automation which is unmatched in the industry, further enhancing the customers’ experiences through the extensive single-source capability.

June 26, 2018 - Eaton Corporation Plc. (US), a multinational power management company announced its plans to restructure and form a new mobility unit with the investment of US$ 500 million. The eMobility unit will serve passenger car, commercial vehicle and off-highway customers on a global level, developing smart technologies.