Lucintel Forecasts the Global Off-Highway Electric Vehicle Market to Reach $19 Billion by 2030

According to a market report by Lucintel, the future of the global off-highway electric vehicle market looks promising with opportunities in the mining, construction, and agriculture markets. The global off-highway electric vehicle market is expected to reach an estimated $19 billion by 2030 with a CAGR of 24.5% from 2024 to 2030. The major drivers for this market are increasing preference for electric machinery in construction sector, growing demand for recreational activities and adventure sports, and rising electrification of vehicles.

A more than 150–page report is developed to understand Trends, opportunity and forecast in off-highway electric vehicle market to 2030 by vehicle type (hybrid electric vehicle and battery electric vehicle), battery type (lithium-ion and lead–acid), application (mining, construction, agriculture, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

In this market, hybrid electric vehicle and battery electric vehicle are the major segments of off-highway electric vehicle market by vehicle type. Lucintel forecasts that hybrid electric vehicle will remain the larger segment over the forecast period.

Within this market, agriculture will remain the largest segment over the forecast period.

Download sample by clicking on off-highway electric vehicle market.

North America will remain the largest region over the forecast period.

DEERE, CNH Industrial, Hyundai Doosan Infracore, Toyota Motor, Epiroc, Cargotec, Caterpillar, SANY, LIEBHERR-International Deutschland, and JCB are the major suppliers in the off-highway electric vehicle market.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com.

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At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056