Off-highway Electric Vehicle Market Statistics 2024 to 2033
The global Off-highway electric vehicle market size was valued at USD 6 billion in 2023. The market is predicted to increase from USD 7.83 billion in 2024 to USD 102.26 billion by 2034, expanding at a double-digit CAGR of 29% from 2024 to 2034.
Off-highway Electric Vehicle Market Statistics 2024 to 2033
- The construction segment accounted for the biggest market share of 38.2% in 2023.
- The agriculture segment is expected to grow at the fastest CAGR during the forecast period.
- The HEV segment has generated the highest market share of 66.2 % in 2023.
Regional Statistics of Off-highway Electric Vehicle Market
- North America dominated the market and contributed the largest market share of 30% in 2023.
- Europe region recorded more than 27% of market share in 2023.
- Asia Pacific accounted for over 26% of the market share in 2023.
- LAMEA generated a significant market share of 17% in 2023
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