Market revenue in 2023 | USD 153.5 million |
Market revenue in 2030 | USD 407.0 million |
Growth rate | 14.9% (CAGR from 2023 to 2030) |
Largest segment | Bev |
Fastest growing segment | BEV |
Historical data | 2018 - 2022 |
Base year | 2023 |
Forecast period | 2024 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | BEV, HEV |
Key market players worldwide | Caterpillar Inc, Volvo AB ADR, Komatsu Ltd, Deere & Co, Sandvik AB, Hitachi Construction Machinery Co Ltd, Epiroc AB DR, Doosan Fuel Cell Ordinary Shares, CNH Industrial NV, JCB |
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The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to off-highway electric vehicle market will help companies and investors design strategic landscapes.
Bev was the largest segment with a revenue share of 50.23% in 2023. Horizon Databook has segmented the UK off-highway electric vehicle market based on bev, hev covering the revenue growth of each sub-segment from 2018 to 2030.
The U.K.'s commitment to a zero-emission future for all new cars by 2035 is creating significant opportunities for the off-highway electric vehicle market.
Various government mandates related to this shift not only offer clarity to manufacturers but also emphasize a sustainable approach toward achieving net-zero emissions.
The increasing emphasis on electric vehicles, supported by a growing charging infrastructure, which witnessed a substantial 43% surge in 2023 as compared to 2022, bodes well for the U.K. off-highway electric vehicles.
Horizon Databook provides a detailed overview of country-level data and insights on the UK off-highway electric vehicle market , including forecasts for subscribers. This country databook contains high-level insights into UK off-highway electric vehicle market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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