Off-Highway Diesel Engine Market to Double by 2034 Amid Booming Construction and Agriculture Sectors

Growing Mechanization in Agriculture Sector Increasing Need for Off-Highway Diesel Engines in Several Equipment: Fact.MR Report

Increased Demand for Off-Highway Diesel Engines is being seen because of the rising mechanization trend in the agricultural sector. Fact.MR, a market research and competitive intelligence provider, in its freshly updated industry report, reveals that the global off-highway diesel engine market has been valued at US$ 111.82 billion in 2024 and is projected to reach a valuation of US$ 211.88 billion by 2034-end.

Off-highway diesel vehicles are specifically designed for off-highway utilization, particularly on uneven terrains. They are used in construction and agricultural activities for multiple operations, including transportation of raw materials, etc. They need specially developed engines with high load-carrying and high power capacities. Increasing infrastructure activities and rapid urbanization across non-residential and residential areas are generating demand for construction machinery, which is driving demand for respective diesel engines.

Supportive government initiatives, particularly in potentially high-growth countries in the form of funds, regulations, etc., are further generating demand for agricultural machinery, including heavy-duty tractors, etc. This is estimated to widen the application scope of off-highway diesel engines. However, rising emissions due to these off-highway diesel engines are set to adversely impact their demand with increasing awareness about environmental footprints.

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Off-Highway Diesel Engine Industry News & Trends:

More manufacturers are focusing on diesel engines with low emissions as a result of their awareness of the issue. It is anticipated that they would reduce emissions with the use of cutting-edge technology such as oxidation catalysts, selective catalytic reduction systems, and particulate filters. To increase their product range and global reach, different market players are implementing a variety of tactics, including collaborations, capacity growth, supplying high-quality products, managing supply chain systems, and launching new items.

Mahindra, AGCO, Zongshen Power Co., Deutz, Yanmar, FPT Industrial, Weichai, JCB, Volvo, John Deere, Scania AB, Kohler, Mercury, Kubota, and Loncin are some of the major companies in the off-highway diesel engine market.

Key Takeaway from Off-Highway Diesel Engine Market Study:

The market for off-highway diesel engines is forecasted to advance at 6.6% CAGR from 2024 to 2034. Global demand for off-highway diesel engines of above 250 HP is evaluated to increase at a CAGR of 7.7% and reach a market value of US$ 56.33 billion by 2034-end.

East Asia is approximated to capture 38.9% share of global market revenue by the end of 2034. Sales of off-highway diesel engines in South Korea are projected to climb at a CAGR of 8% from 2024 to 2034. Agriculture & forestry equipment is calculated to account for 26.9% share of the global market by 2034.

“Growing agricultural mechanization with supportive government initiatives and focus on increasing production are leading to the rising preference for agricultural machinery, which is driving demand for off-highway diesel engines,” says Fact.MR analyst.

Increasing Use of Off-Highway Diesel Engines in Agriculture & Forestry Equipment

Worldwide sales of off-highway diesel engines for agriculture & forestry equipment are projected to climb at a CAGR of 6.6% and reach US$ 57.05 billion by the end of 2034. Increasing awareness about the benefits of using agricultural machinery for their effective operation features is contributing to the growing use of off-highway diesel engines.

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Key Market Players:

Some of the leading manufacturers of off-highway diesel engines are Mahindra, AGCO, Zongshen Power Co., Deutz, Yanmar, FPT Industrial, Weichai, JCB, Volvo, John Deere, Scania AB, Kohler, Mercury, Kubota, and Loncin.

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the off-highway diesel engine market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights into the market based on engine type (up to 2L, 2.1 to 4 L, 4.1 to 8L, 8.1 to 12L, 12.1 to 16L, 16.1 to 20L, 20.1 to 24L, Above 24L), power output (<50 HP, 50 HP to 80 HP, 80.1 HP to 120 HP, 120.1 HP to 150 HP, 150.1 HP to 200 HP, 200.1 HP to 250 HP, above 250 HP), and application (construction & mining equipment, agriculture & forestry equipment, landscape & maintenance equipment, industrial trucks, power sports, marine, gensets), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).

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