Asia-Oceania region is estimated to dominate the off-highway vehicle engine market and is projected to grow at the highest CAGR during forecast period. This growth can be attributed to the progress in the socio-economic conditions by the emerging countries such as China, India, Indonesia, and Thailand.
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The key players in the Engine Market include – Caterpillar Inc. (U.S.), Cummins Inc. (U.S.), Deere and Company (U.S.), Kubota Corporation (Japan) and Deutz AG (Germany), among others.
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Large population in countries such as China and India has resulted in increased number of government projects such as airports, sewer systems, and renewable energy.
- Engine manufacturers
- Construction equipment manufacturers
- Agricultural tractor manufacturers
- Investment firms
- Equity research firms
- Private equity firms
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The 51-80HP segment of engines for agricultural tractors is projected to grow at the highest CAGR during the forecast period. This growth can be mainly attributed to mechanization trends observed in the agriculture industry, especially in the emerging nations such as China and India.
This trend is estimated to continue during the forecast period. These factors make 51-80HP engine segment the largest market in agriculture segment.
The study contains insights provided by various industry experts, ranging from material suppliers to Tier-1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type–OEM 44%, Tier-1 - 38 %, Tier-2 - 13%, and Others - 6%
- By Designation - C level - 38%, Director level - 31%, and Others - 31%
- By Region - North America - 25%, Europe - 31%, and Asia-Oceania - 44%
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This report contains various levels of analysis, including industry analysis (industry trends, Porter’s Five Forces, and PEST analysis), supply chain analysis, and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the off-highway vehicle engine market, competitive landscape, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
The report enables new entrants/smaller firms as well as established firms to understand the market better to help them to acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
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