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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.
European Off-Highway Electric Vehicle Market
European Off-Highway Electric Vehicle Market
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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