Site icon Fact.MR Blog

Demand For Off-Highway Engines For Agriculture Is Anticipated To Expand Significantly, Clocking A CAGR Of Over 6% By 2031

Off-Highway Engine

Fact.MR- a market research and competitive intelligence provider- expects the global market for off-highway engines to surpass US$ 8 Bn by 2021, expected to reach US$ 15.8 Bn by the end of the 2021-2031 assessment period. The market is expected to surge nearly 2x across the forthcoming decade, with agriculture emerging as the dominant application area, surging at a CAGR of 6%.

Click Here To get a Sample Report (Including Full TOC, Table & Figures):-

Key Segments Covered

Competitive Landscape

Prominent off-highway engine manufacturers are emphasizing on introducing low-emission producing engines, consistent with regional frameworks on curbing emission levels. Additionally, expansion strategies such as partnerships, collaborations and acquisitions are also relied upon.

  1. In 2017, Herero 4×4 selected FPT Industrial S.p.A to equip its fleet with the latter’s F1C Euro 6 engine and the 2840.6 FPT industrial gear for off-road applications. The engine offers high torque, regimen and reliability
  2. In October 2020, Cummins India initiated production of electronically controlled Cummins B4.5 engines with a power range of 121-200 horsepower. The new plant will initially have an annual production capacity of 30,000-50,000 engines, but it is geared to expand in the future.
Exit mobile version