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Global Demand for Hybrid Off-highway Vehicles (OHVs) Will Double During the Period to Reach 51,585 Units in 2025
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This aim of this study is to research, identify, and understand the global hybridization trends in select off-highway vehicle markets. OEMs and engine manufacturers are increasingly embracing the future Mega Trend of zero emissions by expanding their portfolio of powertrain options. The need to comply with the strengthening emission regulations and the need for lesser fuel consumption have led to off-highway OEMs and suppliers developing a range of hybrid technologies that will enable fuel savings of up to 50% as well as machinery with improved operability. This study provides a strategic overview of the hybridization in the OHV industry globally (including North America, Europe, Asia, Rest of World), with a detailed look at market size forecasts from 2018 to 2025. The study also analyses the key drivers and restraints, market trends, growth opportunities, and the competitive landscape from 2017 to 2025. It also provides a market overview and the technology trends impacting select off-highway commercial vehicle markets. An ongoing trend in the market is broadening the range of applications and driving down costs to enable further penetration of technologies. Hybrid powertrains will establish a premium market segment globally and provide opportunities for original equipment manufacturers, suppliers, and service providers.
The market trends are analyzed for a study period of 2018 to 2025, with the base year being 2017. Companies mentioned in the competitive landscape of this study are CNH Industrial, Caterpillar, Cummins, TEREX Corporation, LIEBHERR, Volvo Construction Equipment , Yanmar ARG, and Doosan Infracore, Hitachi Construction Machinery, and SANY HEAVY INDUSTRY.
Geographic Scope: The geographic scope of the study is global and includes, Europe (All 28 European Union countries), Russia, the US, Brazil, Mexico, Africa (Kenya, Nigeria, Algeria, South Africa, Tanzania, and Uganda), Asia-Pacific (India, China, Japan, Thailand, Indonesia, Vietnam, Cambodia, and Australia), Latin America, and Israel.
Secondary Research: This includes the extraction of information from existing reports and project materials within the Frost & Sullivan database, to include data and information gathered from technical papers, specialized magazines, seminars, and Internet research.
Primary Research: More than 10 interviews have been conducted over the phone by senior consultants/industry analysts with original equipment suppliers, regulation authorities, and distributors. Primary research has accounted for 80% of the total research.
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