Market Share of Off Highway Hybrid Vehicles Industry
The Off-Highway Hybrid Vehicles Market is a consolidated one with players such as Komatsu, Caterpillar, John Deere, etc. dominating the market. To address the need of low maintenance and clean energy equipment and vehicles, many global OEMs are using innovative technologies such as IoT in their products.
- Proxecto plans to launch its Hybrid Agri Vehicle (HAV) in 2020 to give a boost to Indian Agriculture sector. HAV is supported with smart maneuverability, minimum human intervention, electronic controls and other features.
- In May 2019, Volvo introduced new Hybrid excavator EC300E which cuts down the CO2 emissions by 17%. Volvo’s ECO mode option reduces the fuel consumption by excavator without compromising with the power required for operation
Off-highway Hybrid Vehicles Market Leaders
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Volvo
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Kobelco
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Hitachi Construction Machinery
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Komatsu
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Caterpillar
*Disclaimer: Major Players sorted in no particular order
