(MENAFN- GlobeNewsWire - Nasdaq) The Europe off-highway electric vehicle (OHEV) market is set for remarkable growth, projected to expand from $1.39 billion in 2024 to $13.78 billion by 2034, reflecting a CAGR of 25.76%. This surge is driven by the adoption of electric equipment in mining, construction, and agriculture sectors, aligning with stringent EU emissions regulations and climate goals. This shift to electric off-highway vehicles is supported by advancements in battery technology, charging infrastructure, and government incentives, positioning these vehicles as pivotal in the region's sustainable mobility shift. Key players include AB Volvo, CNH Industrial, and Liebherr Group.

Dublin, July 09, 2025 (GLOBE NEWSWIRE) -- The "Europe Off-Highway Electric Vehicle Market: Focus on Application, Propulsion Type, Vehicle Type, and Country-Level Analysis - Analysis and Forecast, 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The Europe off-highway electric vehicle market is projected to grow from $1.39 billion in 2024 to $13.78 billion by 2034, showing a robust CAGR of 25.76% during the forecast period 2024-2034. The market for off-highway electric vehicles (EVs) is rising quickly in Europe due to the increasing use of electric equipment in the mining, construction, and agricultural industries. In keeping with changing environmental standards, businesses are increasingly using electric alternatives to cut emissions and long-term operating expenses.

The market for off-highway electric vehicles (OHEVs) in Europe is expanding significantly as mining, agriculture, and construction adopt greener and more sustainable technology. Businesses are switching from diesel-powered equipment to electric alternatives due to strict EU environmental rules, aggressive climate targets, and mounting pressure to lower carbon emissions. This shift is in line with the larger goals of the European Green Deal, which encourage energy-efficient businesses and low-emission mobility.
The benefits of electric off-highway vehicles are obvious and include zero tailpipe emissions, lower operating costs, and less noise. Electric machinery is becoming more and more feasible for demanding industrial applications thanks to technological breakthroughs like faster charging times, better battery performance, and longer vehicle lifespans. To get around restrictions on battery range and remote operation, hybrid and range-extended devices are also being produced.
Manufacturers and end users are being encouraged to invest in electric solutions by national government incentives and environmental initiatives supported by the EU. While Eastern and Southern Europe are slowly catching up, Western European nations - such as Germany, France, and the Nordics - are leading the way in this change.
The European OHEV market is positioned to play a significant role in changing the industrial mobility landscape of the region as the drive towards decarbonisation heats up, encouraging long-term efficiency, regulatory compliance, and environmental responsibility.

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Growth/Marketing Strategy: This report outlines a robust growth and marketing strategy specifically tailored for the Europe off-highway electric vehicle market. It emphasizes a targeted approach to identifying niche market segments, establishing competitive advantages, and implementing innovative marketing initiatives to optimize market share and financial performance. By leveraging these strategic recommendations, organizations can strengthen their market presence, exploit emerging opportunities, and drive revenue growth effectively.
Competitive Strategy: This report formulates a strong competitive strategy designed for the Europe off-highway electric vehicle market. It assesses key market players, suggests differentiation tactics, and provides guidance for maintaining a competitive edge. By following these strategic directives, companies can effectively position themselves against competitors, ensuring long-term success and profitability in a rapidly evolving market.

Europe Off-Highway Electric Vehicle (OHEV) Market Trends, Drivers and Challenges

Trends

• Advancements in battery technology enhancing energy density and charging speed
• Growing adoption of sector-specific electric solutions for construction, mining, and agriculture
• Emphasis on sustainability through renewable energy integration and circular design
• Increasing retrofitting of existing diesel fleets to electric systems
• Development of hybrid and range-extended models to overcome range limitations

Drivers

• Stringent EU emission regulations pushing the shift toward electric machinery
• Government incentives and subsidies supporting electric vehicle adoption
• Rising fuel costs making electric options more economically attractive
• Corporate sustainability and ESG commitments driving green procurement
• Technological innovations improving drivetrain efficiency and vehicle reliability

Challenges

• High upfront costs for electric vehicles and related infrastructure
• Limited charging infrastructure in remote and off-grid work environments
• Operational reliability concerns in harsh or rugged terrains
• Battery lifecycle, recycling, and environmental sustainability issues
• Need for workforce reskilling and specialized training for electric systems

Opportunities

• Mobile Charging Solutions to Support OHEV Adoption
• Renewable Energy Integration with OHEV Systems

Some of the prominent names in this market are:

• AB Volvo
• PristenBully (Kassbohrer Gelandefahrzeug AG)
• CNH Industrial N.V.
• Epiroc AB
• J C Bamford Excavators Ltd.
• Sandvik AB
• Liebherr Group
• Prinoth AG (HTI Group)
• CM DUPON - ICECAT
• xelom

Key Attributes:

Report Attribute	Details
No. of Pages	96
Forecast Period	2024 - 2034
Estimated Market Value (USD) in 2024	$1.39 Billion
Forecasted Market Value (USD) by 2034	$13.78 Billion
Compound Annual Growth Rate	25.7%
Regions Covered	Europe

Key Topics Covered:
Executive Summary
Scope and Definition
1 Markets
1.1 Trends: Current and Future Impact Assessment
1.1.1 Trends Overview
1.1.2 Technology Development in Off-Highway Electric Vehicles
1.1.3 Integration of Autonomy in Mining Vehicles
1.2 Supply Chain Overview
1.2.1 Value Chain Analysis
1.2.2 Market Map
1.2.2.1 Excavators
1.2.2.2 Trucks
1.2.2.3 Loaders
1.2.2.4 Others
1.2.3 Pricing Forecast
1.3 R&D Review
1.3.1 Patent Filing Trend (by Country and Company)
1.3.2 Regulatory Landscape
1.4 Stakeholder Analysis
1.4.1 Use Case
1.4.2 End-User Buying Criteria
1.5 Market Dynamics Overview
1.5.1 Market Drivers
1.5.1.1 Increased Focus toward Emission and Noise Reduction
1.5.1.2 Compliance with Emission Regulations
1.5.2 Market Restraints
1.5.2.1 Energy Storage and Range Limitations
1.5.2.2 High Initial Costs and Economic Viability
1.6 Comprehensive Analysis of Diesel vs. Electric Off-Highway Vehicles
1.7 Future Trends in the Electrification of Off-Highway Vehicle Market, 2023-2030
1.8 The Emerging Parallels Between On-Highway and Off-Highway Electrification
2 Region
2.1 Regional Summary
2.2 Europe
2.2.1 Regional Overview
2.2.2 Driving Factors for Market Growth
2.2.3 Factors Challenging the Market
2.2.4 Application
2.2.5 Product
2.2.6 Europe (by Country)
2.2.6.1 France
2.2.6.1.1 Application
2.2.6.1.2 Product
2.2.6.2 Germany
2.2.6.2.1 Application
2.2.6.2.2 Product
2.2.6.3 U.K.
2.2.6.3.1 Application
2.2.6.3.2 Product
2.2.6.4 Spain
2.2.6.4.1 Application
2.2.6.4.2 Product
2.2.6.5 Italy
2.2.6.5.1 Application
2.2.6.5.2 Product
2.2.6.6 Rest-of-Europe
2.2.6.6.1 Application
2.2.6.6.2 Product
3 Markets - Competitive Benchmarking and Company Profiles
3.1 Next Frontiers
3.2 Geographic Assessment
3.2.1 Overview
3.2.2 Top Products/Product Portfolio
3.2.3 Top Competitors
3.2.4 Target Customers/End Users
3.2.5 Key Personnel
3.2.6 Analyst View
3.2.7 Market Share, 2023
4 Research Methodology

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• European Off-Highway Electric Vehicle Market

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