Off-highway equipment market size worldwide by powertrain 2018-2028
Internal combustion engine (ICE) was the dominant powertrain in off-highway equipment worldwide in 2021, accounting for about 95 percent of the value of total sales that year, while sales of off-highway equipment with electric and hybrid powertrains made up only five percent of the total sales value. ICE is projected to retain its dominance in the off-highway equipment market in the coming years.