Off-Road Vehicle Engine Market Analysis of 2019 by Growth Rates, Major Factors, Restrictions, Future Trends, Opportunities and Challenges to 2024

Market Review
The global market for off-highway vehicle engines is expected to show an annualized annual growth rate of 7.67% over the forecast period 2019-2024.
– The growth of off-highway vehicle engines depends on the growth rate of the agricultural and construction machinery industry. The growing trend towards the development of agriculture in developing countries and the increase in construction projects for residential and commercial buildings worldwide are driving the construction and agricultural machinery markets.
– Globally, construction is expected to become one of the most profitable sectors over the next decade. The demand for construction machinery has been increased throughout Europe.The recovery of the European construction industry has improved mining and quarrying, and a favorable low interest environment has further stimulated investment.
– For the global construction industry, significant growth is expected in the coming years with good opportunities in the areas of infrastructure, housing and non-housing. Some of the key factors driving the market are the increasing number of multi-family homes (with the growing trend of nuclear families); roadways, highways, smart cities, subways, bridges and highways due to the growing population and urbanization.

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Scope of the report
In the scope of the market, only engines that have been used in agricultural and construction machinery have been considered.
The market study for off-highway vehicle engines covers both performance and fuel type.
Major market trends
50-70 hp – largest segment after agricultural performance
The market for 50-70 hp agricultural engines is expected to grow rapidly over the forecast period, with an annualized annual growth rate of 7.78%.
– Agricultural machines under 50-70 HP mainly include tractors and medium-sized ranks.
– The medium-sized combine harvesters, with an average length of 4.8 m, a width of 2.2 m and a height of 2.8 m, were frequently used on paddy fields, especially in ASEAN countries such as the Philippines, Indonesia, Vietnam and India. Thus, in 2017, the Asia-Pacific region accounted for more than 80% of the total for the medium-sized combine market. The leading suppliers of medium-sized companies in the Asia-Pacific market include Kubota Corporation and Yanmar Co. Ltd.
– According to CEMA, tractor sales of 50 to 70 hp in Europe remain stable in 2017 as only a few EU countries such as Spain, Denmark and the United Kingdom saw tractor increase from 50 to 70 hp. The United Kingdom recorded 12,033 tractor units (more than 50 hp) in 2017, an increase of 1.5% over 2016.
– While the US and Canada saw a decline in sales of 50-70 hp semitrailer tractors, they registered one Increase of tractors below 40 hp in 2017.
– India is one of the emerging markets in the agricultural sector, where there is a sustained demand for more than 50 hp tractors over the past three years due to the state of the art agricultural economy in india the country and rapid improvement of the tractor industry.
– Increasing demand for more than 50 hp tractors in the Asia-Pacific region and the European market for agricultural machinery should increase to 50 to 70 hp over the forecast period.

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Asia-Pacific continues to dominate the global market
China is expected to see a revival of the market for excavators and other types of construction machinery during the forecast period. Public spending on municipal infrastructure projects is the main reason for the good sale of construction machinery in 2018. For example, cities across the country are expanding subways and other urban transport systems.

In 2018, China is expected to continue implementing Guangdong, Hong Kong and the Macao Bay Area.
In addition, restrictions on foreign investment in land development, quality hotels, office buildings, and large-scale exhibition parks in China were lifted. This should increase construction activity in the country as well as the demand for high-performance construction equipment in the forecast period.

In India, too, the investment in the infrastructure sector and other government strategic initiatives should boost the country’s construction sector. This in turn should boost demand for and use of construction equipment in the country. In addition, India is one of the largest tractor markets in the world, with 41 to 50 hp representing the largest sales segment. Tractors and tillers play an important role in the overall development of the agricultural sector in the country.

Competitive environment
The market is being conquered by some of the key players as Yanmar Co., Ltd., Cummins, Deutz AG, Man Engines & Components Inc., Deere & Company, Caterpillar Inc., Volvo Penta and others.
Komatsu off-highway engines are classified as Cummins because the company has entered into a joint venture agreement with Cummins to produce diesel engines.

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Table of Contents

1 INTRODUCTION
1.1 Study results
1.2 Study assumptions
1.3 Scope of the study

2 RESEARCH METHODOLOGY

3 SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restrictions
4.3 Market Drivers
4.4 Market Restrictions
4.5 Industry Attractiveness – Porter’s Five Force Analysis
4.5.1 Threat of New Market Participants
4.5.2
Bargaining Power of the Buyer / Consumer 4.5.3 Bargaining Power of the Suppliers
4.5.4 Threat by
substitutes 4.5.5 Intensity of competitive rivalry

5 MARKET SEPARATION
5.1 Power Output
5.1.1 Agricultural machinery
5.1.1.1 Up to 30 hp
5.1.1.2 30-50 hp
5.1.1.3 50-70 hp
5.1.1.4 70+ hp
5.1.2 Construction machinery
5.1.2.1 Up to 100 hp
5.1.2.2 100 -120 hp
5.1.2.3 200-400 hp
5.1.2.4 400+ hp
5.2 Fuel type
5.2.1 Petrol
5.2.2 Diesel
5.2.3 Other
5.3 Geography
5.3.1 North America
5.3.1.1 USA
5.3.1.2 Canada
5.3.1.3 Mexico
5.3. 1.4 Other North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3 .3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Other Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Other South America
5.3.5 Middle East & Africa
5.3.5.1
South Africa 5.3.5.2 South Africa
5.3.5.3 Rest of the Middle East & Africa

6 COMPETITIVE LANDSCAPES
6.1 Market share of suppliers
6.2 Mergers and acquisitions
6.3 Company
profiles 6.3.1 AGCO POWER
6.3.2 Caterpillar Inc.
6.3.3 Cummins
6.3.4 Deere & Company
6.3.5 Deutz AG
6.3.6

Continuation ….

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