Dublin, May 31, 2022 (GLOBE NEWSWIRE) — The “Off-Highway Electric Vehicles Market Report: By Propulsion, Energy Storage, Energy Storage Capacity, Power Output – Recent Trends and Demand Analysis Through 2030” has been added to the report. from ResearchAndMarkets.com offer.
The Electric Off-Road Vehicle Market Revenue in 2030 will be USD 97,754.1 million, from an estimated USD 16,908.6 million in 2021, and it will witness a massive CAGR of 21.5% between 2021 and 2030.
The main reason behind this would be technological advances in electric drives, which have already been widely tested and adopted in road vehicles.
Key advances in this regard include higher battery capacity and power output, both critical to the success of electric vehicles. Moreover, all of this must be done without increasing the price of batteries, which remains a major concern for those switching or looking to switch to electric mobility for on- and off-road purposes.
APAC continues to see the highest demand for all-electric or hybrid-electric powered off-road machines. The region is the largest construction market in the world and also the most polluted, led by China and India in both aspects. Therefore, the focus on integrating electric drivetrains into off-road vehicles has become very strong here in the recent past. Additionally, APAC is the largest manufacturer of electric vehicles, which facilitates their availability.
This presents lucrative opportunities for major players in the off-road electric vehicle market including Hyundai Doosan Infracore Co. Ltd., Komatsu Ltd., AB Volvo, Caterpillar Inc., LIEBHERR-International Deutschland GmbH, JC Bamford Excavators Limited, Sany Heavy Equipment International Holdings. Company Limited, DEERE & COMPANY, Epiroc AB and Hitachi Ltd.
Thus, they began to form partnerships and collaborations, to merge and acquire similar businesses and to expand their geographical presence, in addition to launching new vehicle models.
Key Findings of the Electric Off-Road Vehicle Market Report
- Another major driver for the sale of these vehicles is the growing demand for low-emission, low-noise machines in the construction industry, as they can operate in densely populated areas and even indoors.
- Thus, the BEV category dominates the off-road electric vehicle market in the propulsion segment. The absence of a diesel engine not only makes the BEVs emission-free, but also extremely quiet.
- This is also consistent with the fact that construction is the largest area of application for off-road electric vehicles. The global population boom makes it necessary to build civic, industrial, commercial and residential infrastructure.
- In this regard, the strict emission regulations implemented on conventional vehicles around the world play a major role, making these automobiles increasingly expensive.
- During the COVID-19 pandemic, the sale of this equipment has seen a massive drop due to the closure of construction sites, mines and oil and gas projects, and many manufacturing plants, including these vehicles. themselves.
- However, the race to complete delayed infrastructure projects as soon as possible is benefiting the off-road electric vehicle market in the post-lockdown era, with many OEMs launching new vehicle models suitable for different uses.
Main topics covered:
Chapter 1. Research Context
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 Cautions
Chapter 3. Executive Summary
Chapter 4. Voices of Industry Experts/Kols
Chapter 5. Market Indicators
5.1 Global Electric Vehicle Stock
Chapter 6. Definition of Market Segments
6.2 Type of energy storage
6.2.1 Li-Ion battery
6.2.2 Lead acid battery
6.3 Energy storage capacity
6.3.1 6.3.2 50-200 kWh
6.3.3 >200 kWh
6.4 Output power
6.4.1 6.4.2 50-150 HP
6.4.3 150-300 HP
6.4.4 >300 HP
Chapter 7. Industry Outlook
7.1 Market Dynamics
184.108.40.206 Product launches
220.127.116.11 Technological advances
18.104.22.168 Growing Demand for Quiet and Emission-Free Construction Machinery
7.1.3 Impact Analysis of Drivers on Market Forecast
22.214.171.124 Productivity loss due to long charging time
126.96.36.199 Lack of charging infrastructure
7.1.5 Market Forecast Restrictions Impact Analysis
7.2 Impact of Covid-19
7.3 Value chain analysis
7.3.1 Raw materials
7.3.4 Secondary market
7.4 Porter’s Five Forces Analysis
Chapter 8. Policy and regulatory landscape
8.1 North America
Chapter 9. Global Market Size and Forecast
9.2 Market Volume, By Propulsion Type (2015-2030)
9.3 Market Revenue, by Propulsion Type (2015-2030)
9.4 Market Volume, by Type of Energy Storage (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. US 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. UK 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 Major Players Market Share Analysis
31.3 Major Players Recent Strategic Developments
31.3.1 Partnerships and collaborations
31.3.2 Mergers & Acquisitions
31.3.3 Product launches
31.3.4 Geographic expansions
Chapter 32. Business Profiles
32.1 Business Overview
32.2 Product and service offerings
32.3 Key Financial Summary
- Hyundai Doosan Infracore Co. Ltd.
- Komatsu Ltd.
- Caterpillar inc.
- JC Bamford Excavators Limited
- Liebherr International Deutschland GmbH
- Xuzhou Construction Machinery Group Co.Ltd. (Xcmg)
- Sany Heavy Equipment International Holdings Company Limited
- Epiroc AB
- Ab Sandvik
- Cnh Industrial SA
- Deere & Company
- Hitachi Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/c0fnos
Global off-road electric vehicle market