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Fuel-efficient and Compact Machines are the Future of the OHV Industry, Below 300 HP Engines for Excavators to Witness a CAGR of 11.5% During 2016–2022
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This deliverable analyses the opportunities in the off-highway vehicle(OHV) engines market and provides market forecasts, drivers and restraints, challenges and opportunities, and the competitive landscape from 2016 to 2022. It also provides the Mega Trends and evolving technologies in the market. Engine manufacturers will increasingly embrace the future Mega Trend of Zero Emissions by expanding their portfolio of engine power options. To meet the stringent emission regulations, original equipment manufacturers (OEMs) in the markets of North America and Europe are incorporating advanced technology in engines. These regions are experiencing intense demand for high horsepower machines equipped with advanced technologies that provide farm data analysis and monitor field condition.
OHV telematics will be the most dominant technology in the global OHV engine market. In addition to the high-end machineries, the small and medium machineries will also be equipped with advanced telematics components. Meanwhile, Asia-Pacific and Africa are expected to be the biggest demand generators, as farm mechanisation is lower than 60% in these regions. India, China, Africa, and the Association of Southeast Asian Nations (ASEAN) will be the primary focus markets for established vendors, as these countries will provide the next wave of opportunity due to their vast untapped potential.
The recovery of end user markets such as farming, construction, and mining will boost market growth over the forecast period. Ongoing hybridisation and electrification in the off highway segment and the need for compact equipment will further propel the market. New regulations such the Euro VI will require engine manufacturers to incorporate novel technologies in a wide range of engine models.
Companies mentioned in the competitive landscape of this study include Caterpillar, Cummins, Deere & Company, Deutz, Friedrichshafen, Kohler, Kubota, MAN, MTU, Volvo, Wartsila, Weichai Power, and Yanmar. The geographic scope of the study is global, and covers five key regions — North America, Latin America, Europe, Asia Pacific & South Asia, and Middle East & North Africa.
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