Hybridization Trends in the Global Off-highway Vehicle Market

Published: 21 Mar 2019

By Prasad B. Mane, Associate Director- Global Off Highway Program – Mobility & Saurabh Bhalerao, Research Analyst-Global Off Highway Program - Mobility

One of the most important objectives for the global automotive industry is to reduce the environmental impact of vehicles. Off-highway vehicles (OHVs) contribute significantly to raising pollution levels due to their huge powertrains, which consume large amounts of fuel and generate considerable exhaust emissions. In order to decrease exhaust emissions and reduce fuel consumption, the OHV industry is exploring the potential of using hybrid technology on a mass scale. Hybrid powertrains are rapidly becoming a Mega Trend in the OHV market. While hybridization is recognized as the key to achieving fuel economy, cost remains one of the biggest barriers both for OEMs in terms of high development costs, and for customers in terms of the significantly higher prices of hybrid OHVs. Moreover, OEMs continue to grapple with technical challenges related to batteries and energy storage, particularly for larger pieces of equipment. 

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