Global Diesel Common Rail Injection System Market on Frontlines with High Valuation

 

Industry Insights

Analysts from Market Research Future now project economy of developed regions could rise as the automotive off-highway engine market 2020 is now having the potential to expand at a high rate of 9%, which is actual CAGR. The market is also facing a long period of economic certainty, as it will be reaching high valuations by 2025. The report got published and portrayed the market’s status and claimed that the growth would be continued to seek far more valuation between 2017 and 2023 (forecast period).

Top Impacting Factors

MRFR and its study found that the landscape of the automotive off-highway engine market is highly competitive. Off-highway vehicle engine growth is dependent on the growth rate of agricultural and construction machinery industries. Expanding agriculture mechanization trend in developing regions and spike in residential and commercial construction projects globally are motivating the construction and agricultural machinery markets.

At the global level, the construction is predicted to be one of the most money-spinning sectors over the next decade. The demand for construction machinery has amplified mainly in Europe as a whole. The recovery of Europe’s construction industry and improved business in the mining and quarrying sectors, as well as a favorable economic environment with low-interest rates, further stimulated investments. All these factors have an optimistic approach towards Off-Highway Engine Market during the forecast period.

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The construction industry might also witness significant growth in the coming years, with lucrative opportunities in residential, infrastructure, and non-residential sectors. Some of the significant factors influencing the market of the automotive off-highway engine are escalating construction of multi-family houses and rising investments in the construction of roads, highways, smart cities, metros, bridges, and expressways owing to growing population and urbanization.

Similarly, a boost in demand and production of off-road vehicles is also estimated to heighten the off-highway engine market during the assessment period. Also, demand for all-terrain vehicles (ATVs) is rising for its suitability for activities such as trekking and traveling in the exploration area. Despite these factors, other factors such as high cost and maintenance expenditure are probable to hold down the off-highway engine market growth significantly. Regulatory bodies are imposing scrupulous norms globally to reduce carbon emissions from automobiles. Off-highway Engines can be customized to reduce carbon emissions from vehicles. All these factors are estimated to drive the off-highway engine market after some sluggishness observed in the growth pattern.

Segmentation of Market: Automotive Off-Highway Engine

As per the segmental analysis, the automotive off-highway engine market study includes segments of power output, engine capacity, and fuel type.

Depending on the power output segment, the 30-400 HP range off-highway engines are usually preferred in the agricultural field. Due to the large-scale agricultural activities with the involvement of automation technology, this segment has a high demand. The engines above 400 HP are generally preferred in the construction industry

Depending on engine capacity, the maximum demand is for below 5-liter capacity. These vehicles are used mainly in an assortment of applications such as agriculture road construction, and long-distance transportation and are easily maneuverable for its small size.

Depending on fuel type, the market has included diesel, gasoline, and more.

 

Regional Outlook

Depending on the region, the market study has been conducted among the regions of Asia Pacific, North America, Europe, and Rest of the World.

Asia Pacific market might drive the growth of Off-Highway engines. The automotive industry in this region is being driven by countries such as China, India, and Japan. The automation research hub of Asia – Japan leads the region in market innovation. The escalating automation in sectors such as agriculture and construction in a growing economy like India is leading to improved demand for high powered off-highway engines. The better preference for large-scale agriculture activities such as harvesting, plowing, and sowing, among farmers, thus surges the demand for high-performance off-highway engines. This can be customized as per the power output requirement.

While the US and Canada in the North American region recorded a decline in the sales of 50-70 HP tractors but noticed increased sales of tractors below 40HP in the year 2019, a substantial recovery in the European agricultural machinery market is anticipated to boost 50-70 HP agricultural machinery during the forecast period.

Top Industry Players

The industry players in the automotive off-highway engine market are listed as Cummins Inc. (U.S.), Caterpillar Inc. (U.S.), Kubota Corporation (Japan), Deutz AG (Germany), and Mahindra and Mahindra Limited (India). Also, Volvo Group (Sweden), J.C. Bamford Excavators Limited (U.K.), Deere & Company (U.S.), and Massey Ferguson Limited (U.S.) and AGCO Corporation (U.S.), are among others.

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Key Questions Addressed by the Report

• What was the historic market size?
• Which segmentation (Product/ Capacity) is driving market?
• What will be the growth rate?
• How are the key players in this market?
• What are the strategies adopted by key players?

TABLE OF CONTENTS

 

1 EXECUTIVE SUMMARY

 

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

 

3 MARKET LANDSCAPE

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

 

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

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