Automotive and Transportation Off Highway Vehicle Engine Market | Page 2

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Off Highway Vehicle Engine Market to Reach USD 51.43 Billion By 2026
Growth in infrastructure and rise in mechanization in agriculture is fueling the market.
Market Size – USD 26.87 billion in 2018, Market Growth - CAGR of 8%, Market Trends – Increase usage
of mechanization in agriculture
The global Off Highway Vehicle Engine market is expected to reach USD 51.43 billion by 2026, according
to a new report by Reports and Data. Off-highway engines is a machine designed in a way that converts
some form of energy into mechanical energy. It is mainly used in vehicles off the road. These vehicles
are driven on and off tiled or stony and pebbly surfaces. They have large tires and flexible suspension.
Off highway vehicle are used for exploration off the asphalt road. With high clearance and these power
vehicles, trails and forest area with low traction surface are explored as well. Demand for these vehicles
is growing due to its usage in trekking and exploration activities. The rise in mining, agriculture,
infrastructure, and construction has risen the demand of this market. These vehicles are generally diesel
based, but stringent norms by the government have driven companies to use other alternatives.
Asia Pacific is expected to be a key revenue generating region in the forecast period with a CAGR of 21%.
India China, Indonesia, and Thailand are the countries that will market the off highway vehicles. With
the increase in housing projects, construction of roads and airport is, in turn, raising the demand for of
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