Off-highway Electric Vehicles Market To Reach $5.75 Billion By 2030

Off-highway Electric Vehicles Market Growth & Trends

The global off-highway electric vehicles market size is expected to reach a valuation of USD 5.75 billion by 2030, growing at 13.5% from 2025 to 2030, according to a new study by Grand View Research Inc. The commencement of redevelopment initiatives and expanding infrastructural advancements in developing nations are the key drivers fueling the off-highway electric vehicle industry’s expansion.

The global demand for off-highway electric vehicles (EVs) is also being fueled by strict emission rules by governmental organizations, such as emission requirements for Greenhouse Gas (GHG) emissions by the European Commission and the U.S. Environmental Protection Agency (EPA). These cars’ increased economy decreases overhaul costs and lowers noise and vibration levels to help increase demand for off-highway electric vehicles.

The benefits of off-highway electric machinery include increased operational maneuverability, accuracy, and overall efficiency. Off-highway vehicle electrification offers a number of advantages, but due to issues such as poor charging infrastructure and limited battery storage capacity, it is anticipated that market adoption would be sluggish. Due to the drawbacks of electrically-propelled machinery, hybrid off-highway electric vehicles-which are seen as a viable alternative-have gained an edge.

However, the significant investments involved in developing off-highway electric vehicles is limiting their commercial expansion. Despite this, for improved performance, pollution control, and reliability; off-highway equipment like vehicles, in areas such as agriculture, mining, and construction, are being electrified.

In order to stay ahead of their rivals, prominent corporations are launching new products, which is the main trend in the off-highway electric vehicle industry. For instance, The Volvo Group introduced an electric truck with a longer range in North America in January 2022. This truck is a modified Volvo VNR Electric with a range increase of up to 85% and faster charging. This is a class 8 electric truck variant with a greater energy storage capacity of up to 565 kWh and an operational range of up to 440 km (275 miles).

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Off-highway Electric Vehicles Market Report Highlights

• The battery electric vehicle (BEV) segment dominated the market in 2024 and accounted for a 50.14% share of the global revenue.

• The lead acid battery segment dominated the market in 2024. The lead-acid segment in the off-highway electric vehicle market employs rechargeable batteries known for storing electrical energy.

• The agriculture segment dominated the market in 2024. Consumers in North America and Europe are increasingly using modern farm machinery and advanced agricultural techniques, such as electric harvesters and electric tractors, to boost yields.

• The Asia Pacific region is expected to grow at a highest CAGR from 2025 to 2030.

Off-highway Electric Vehicles Market Segmentation

Grand View Research has segmented the global off-highway electric vehicles market on the basis of propulsion, battery type, application, and region:

Off-highway Electric Vehicles Propulsion Outlook (Revenue, USD Million, 2018 - 2030)

• Battery Electric Vehicle (BEV)

• Hybrid Electric Vehicle (HEV)

Off-highway Electric Vehicles Battery Type Outlook (Revenue, USD Million, 2018 - 2030)

• Li-ion

• Lead-acid

Off-highway Electric Vehicles Application Outlook (Revenue, USD Million, 2018 - 2030)

• Construction

• Agriculture

• Mining

Off-highway Electric Vehicles Regional Outlook (Revenue, USD Million; 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• Latin America

  • Brazil

• Middle East & Africa

  • UAE

  • Kingdom of Saudi Arabia

  • South Africa

List of Key Players of Off-highway Electric Vehicles Market

• Caterpillar Inc.

• CNH Industrial N.V.

• Hitachi Construction Machinery Co., Ltd.

• J C Bamford Excavators Ltd.

• Komatsu Ltd.

• Volvo Construction Equipment AB

• Deere & Company

• Doosan Corporation

• Sandvik AB