Commercial & Off-Highway Vehicles – 2019 Market Snapshot

by Jul 9, 2020

The unprecedented impact of COVID-19 on the transportation industry will be felt at varying degrees of intensity throughout 2020 and even through 2022, for certain sectors. Find out what it can mean for any of our six vehicle categories in the latest update of PTR’s Commercial & Off-highway Vehicle (COHV) market analysis.

Commercial & Off-Highway Vehicles Market Units by Application – 2019 (‘000s) All Fuel Types Projected Annual Growth 2019-25 BEVs Only

2019 Commercial and Off-Highway Vehicles Market Overview

Projected Growth of Electrified Commercial and Off-Highway Vehicles

  • Trucks, Buses and LCVs continue to be electrified with BEV production expected to increase annually by 50%, 25% and 41% respectively between 2019-2025.
  • Agricultural and Construction vehicles have the highest BEV production growth among the six vehilce segments. However this is because these segments have a very low vehicle electrification rate at the moment.
  • High percentage of forklifts produced are already electric (BEVs). Hence the projected production growth is rather low at 1% annually.



Mike Sheppard – Lead Analyst Commercial & Off-Highway Vehicles Service 

Rabail Saeed – Client Relationship Manager