Global Electric Off-Highway Vehicle Market Analysis & Trends - Industry Forecast to 2030

Global Electric Off-Highway Vehicle Market Analysis & Trends - Industry Forecast to 2030

The Global Electric Off-Highway Vehicle Market is poised to grow at a CAGR of around 19.2% over the next decade to reach approximately $49.5 billion by 2030. Some of the prominent trends that the market is witnessing include increasing investments from automakers in EVS (Electric Vehicles), demand for increased vehicle range per charge, and increasing concerns over environmental pollution.

Based on battery type, the market is bifurcated into lead-acid, lithium-ion, and other battery types. Other battery types are classified into lithium manganese oxide (LMO), lithium iron phosphate, lithium titanate oxide (LTO), solid-state battery, and nickel metal hydride (Ni-MH).

By equipment type, the market is fragmented into electric dozer, electric dump truck, electric excavator, electric lawn mower, electric loader, electric load-haul-dump loader (LHD), electric motor grader, electric sprayer, and electric tractor.

With respect to power output, the market is segmented into <50 hp, 50-150 hp, 150-300hp, and >300 hp.

On the basis of battery capacity, the market is segregated into <50 kWh, 50-200 kWh, 200-500 kWh, and >500 kWh.

Based on propulsion, the market is bifurcated into battery-electric vehicle (BEV), and hybrid-electric vehicle (HEV).

Based on application, the market is segmented into agriculture, construction, gardening/landscaping, and mining.

This industry report analyzes the market estimates and forecasts of all the given segments on global as well as regional levels presented in the research scope. The study provides historical market data for 2022, 2023 revenue estimations are presented for 2024 and forecasts from 2025 till 2030. The study focuses on market trends, leading players, supply chain trends, technological innovations, key developments, and future strategies. With comprehensive market assessment across the major geographies such as North America, Europe, Asia Pacific, Middle East, Latin America and Rest of the world the report is a valuable asset for the existing players, new entrants and the future investors.

The study presents detailed market analysis with inputs derived from industry professionals across the value chain. A special focus has been made on 23 countries such as U.S., Canada, Mexico, U.K., Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, South Africa, etc. The market data is gathered from extensive primary interviews and secondary research. The market size is calculated based on the revenue generated through sales from all the given segments and sub segments in the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

This report provides data tables, includes charts and graphs for visual analysis.

Regional Analysis:
North America
- US
- Canada
- Mexico

Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe

Asia Pacific
- China
- Japan
- India
- Australia
- New Zealand
- Rest of Asia Pacific

Middle East
- Saudi Arabia
- UAE
- Rest of Middle East

Latin America
- Argentina
- Brazil
- Rest of Latin America

Rest of the World
- South Africa
- Others

Report Highlights:
- The report provides a detailed analysis on current and future market trends to identify the investment opportunities
- Market forecasts till 2030, using estimated market values as the base numbers
- Key market trends across the business segments, Regions and Countries
- Key developments and strategies observed in the market
- Market Dynamics such as Drivers, Restraints, Opportunities and other trends
- In-depth company profiles of key players and upcoming prominent players
- Growth prospects among the emerging nations through 2030
- Market opportunities and recommendations for new investments