DUBLIN, January 8, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/krwbbn/engine_market_for) has announced the addition of the "Engine Market for Off-Highway Vehicle by Power Output, Capacity, Fuel Type, & by Region - Forecast to 2020" report to their offering.
The off-highway vehicle engine market size is projected to grow at a promising CAGR of 7.65% during the forecast period, to reach USD 38.93 Billion by 2020. Rising mechanization in agriculture and growth in infrastructure activities are some of the drivers fueling growth in sales of off-highway vehicle engines, globally.
The Asia-Oceania region includes emerging economies such as India, China, Indonesia, and Thailand among others. Increase in infrastructure activities such as housing, power projects, road construction, and airports among others is enhancing the demand for construction equipment, which in turn, is increasing the market for off-highway vehicle engines.
Apart from the construction industry, growth in agriculture industry is also enhancing the market for off-highway engines. Due to the increase in mechanization in the agriculture industry, the demand for agriculture tractors is on the rise, which is ultimately increasing the demand for agriculture tractor engines in Asia-Oceania region. Asia-Oceania is the highest growing off-highway vehicle engine market, at a CAGR of 8.45% from 2015 to 2020.
The major restraint considered in the study include high manufacturing, operating, and maintenance cost of off-highway vehicle engines. Machinery used in the construction and agriculture industry have high operating cost, as most of the times power requirements are high, resulting in high fuel consumption. The maintenance and repair cost associated with these equipment is also high. These factors could negatively affect the demand for agriculture and construction machinery, which in turn, restraints growth in the market for engines required for these applications.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Technical Overview
7 Off-Highway Vehicle Engine Market, By Power Output
8 Off-Highway Vehicle Engine Market, By Engine Capacity
9 Off-Highway Vehicle Engine Market, By Fuel Type
10 Off-Highway Vehicle Engine Market, By Region
11 Competitive Landscape
12 Company Profiles
- Caterpillar Inc.
- Cummins Inc.
- Deere & Company
- Deutz AG
- Kubota Corporation
- Mtu Friedrichshafen Gmbh
- Scania AB
- Volvo CE
- Weichai Power Co. Ltd.
- Yanmar Co. Ltd.
For more information visit http://www.researchandmarkets.com/research/krwbbn/engine_market_for
Laura Wood, +353-1-481-1716, firstname.lastname@example.org
SOURCE Research and Markets