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%.
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Key Segments Covered
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Engine Capacity
- Off-Highway Engines < 4 L
- Off-Highway Engines from 4–10 L
- Off-Highway Engines from 10–16 L
- Off-Highway Engines from 16–22 L
- Off-Highway Engines Above 22 L
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Power Output
- Off-Highway Engines < 50 HP
- Off-Highway Engines from 50–100 HP
- Off-Highway Engines from 100–200 HP
- Off-Highway Engines from 200–300 HP
- Off-Highway Engines Above 300 HP
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Fuel Type
- Gasoline Off-Highway Engines
- Diesel Off-Highway Engines
- Other Fuel Off-Highway Engines
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Application
- Off-Highway Engines for Construction Equipment
- Off-Highway Engines for Agriculture Equipment
- Off-Highway Engines for Marine Engines
- Off-Highway Engines for Gensets
- Off-Highway Engines for Industrial Trucks
- Off-Highway Engines for Power Sports
- Off-Highway Engines for Other Applications
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.
- 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
- 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.