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North America Off-highway Electric Vehicles Market Size, Share & Trends Analysis Report By Propulsion (Battery Electric Vehicle (BEV) and Hybrid Electric Vehicle (HEV)), By Application, By Battery Type, By Country and Growth Forecast, 2025 - 2032

Published Date : 24-Apr-2025

Pages: 120

Report Format: PDF + Excel

The North America Off-highway Electric Vehicles Market would witness market growth of 21.1% CAGR during the forecast period (2025-2032).

The US market dominated the North America Off-highway Electric Vehicles Market by Country in 2024, and would continue to be a dominant market till 2032; thereby, achieving a market value of $7,632.1 Million by 2032. The Canada market is experiencing a CAGR of 24.4% during (2025 - 2032). Additionally, The Mexico market would exhibit a CAGR of 22.9% during (2025 - 2032).

North America Off-highway Electric Vehicles Market

This market is experiencing a transformative shift, driven by growing environmental concerns, stringent emissions regulations, and rapid technological advancements. These vehicles, designed for specialized applications in construction, agriculture, mining, and material handling industries, are increasing adoption due to their enhanced efficiency, reduced operational costs, and lower environmental impact.

Off-highway electric vehicles cater to a wide range of applications, spanning multiple industries that require heavy-duty machinery and specialized transportation. The construction sector is one of the leading adopters of off-highway electric vehicles. Electrifying equipment such as excavators, loaders, bulldozers, and cranes helps construction firms meet strict emissions regulations while reducing noise pollution—an essential factor in urban construction projects.

The market is experiencing rapid growth across North America, driven by increasing investment in mining, construction, and hybrid vehicle adoption. In Mexico, the mining industry remains a crucial economic sector, while Canada’s rising investment in building construction boosts the demand for sustainable heavy machinery. Mexico’s mining sector, valued at $3.3 billion in 2022, is vital to the country’s economy. Precious metals extraction dominates the industry, while non-ferrous metals (40%), metallurgy (6%), and non-metallic ores (7%) contribute significantly. In addition, Canada’s construction investment rose 1.7% to $19.8 billion in November 2023, with residential construction increasing by 2.2% ($13.7 billion) and non-residential investment rising by 0.4% ($6.0 billion). Additionally, the U.S. Energy Information Administration reported a rise in electric and hybrid vehicle sales in Q2 2024, driven primarily by a 30.7% increase in hybrid electric vehicle (HEV) sales. In conclusion, the market is growing due to increasing mining activities in Mexico, rising construction investments in Canada, and growing hybrid and electric vehicle adoption in the U.S.

Free Valuable Insights: The Off-highway Electric Vehicles Market is Predict to reach USD 32.93 Billion by 2032, at a CAGR of 21.3%

Based on Propulsion, the market is segmented into Battery Electric Vehicle (BEV) and Hybrid Electric Vehicle (HEV). Based on Application, the market is segmented into Agriculture, Mining, and Construction. Based on Battery Type, the market is segmented into Li-ion and Lead-acid.Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

List of Key Companies Profiled

  • Caterpillar, Inc.
  • CNH Industrial N.V.
  • Hitachi Construction Machinery Co., Ltd. (Hitachi, Ltd.)
  • J C Bamford Excavators Ltd.
  • Komatsu Ltd.
  • Volvo Construction Equipment AB (Volvo Group)
  • Deere & Company
  • Doosan Corporation
  • Sandvik AB
  • Epiroc AB

North America Off-highway Electric Vehicles Market Report Segmentation

By Propulsion

  • Battery Electric Vehicle (BEV)
  • Hybrid Electric Vehicle (HEV)

By Application

  • Agriculture
  • Mining
  • Construction

By Battery Type

  • Li-ion
  • Lead-acid

By Country

  • US
  • Canada
  • Mexico
  • Rest of North America
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Off-highway Electric Vehicles Market, by Propulsion
1.4.2 North America Off-highway Electric Vehicles Market, by Application
1.4.3 North America Off-highway Electric Vehicles Market, by Battery Type
1.4.4 North America Off-highway Electric Vehicles Market, by Country
1.5 Methodology for the research

Chapter 2. Market at a Glance
2.1 Key Highlights

Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges

Chapter 4. Competition Analysis - Global
4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.3 Market Share Analysis, 2024
4.4 Top Winning Strategies
4.4.1 Key Leading Strategies: Percentage Distribution (2021-2025)
4.4.2 Key Strategic Move: (Product Launches and Product Expansions : 2021, Jun – 2025, Jan) Leading Players
4.5 Porter Five Forces Analysis

Chapter 5. North America Off-highway Electric Vehicles Market by Propulsion
5.1 North America Battery Electric Vehicle (BEV) Market by Region
5.2 North America Hybrid Electric Vehicle (HEV) Market by Region

Chapter 6. North America Off-highway Electric Vehicles Market by Application
6.1 North America Agriculture Market by Country
6.2 North America Mining Market by Country
6.3 North America Construction Market by Country

Chapter 7. North America Off-highway Electric Vehicles Market by Battery Type
7.1 North America Li-ion Market by Country
7.2 North America Lead-acid Market by Country

Chapter 8. North America Off-highway Electric Vehicles Market by Country
8.1 US Off-highway Electric Vehicles Market
8.1.1 US Off-highway Electric Vehicles Market by Propulsion
8.1.2 US Off-highway Electric Vehicles Market by Application
8.1.3 US Off-highway Electric Vehicles Market by Battery Type
8.2 Canada Off-highway Electric Vehicles Market
8.2.1 Canada Off-highway Electric Vehicles Market by Propulsion
8.2.2 Canada Off-highway Electric Vehicles Market by Application
8.2.3 Canada Off-highway Electric Vehicles Market by Battery Type
8.3 Mexico Off-highway Electric Vehicles Market
8.3.1 Mexico Off-highway Electric Vehicles Market by Propulsion
8.3.2 Mexico Off-highway Electric Vehicles Market by Application
8.3.3 Mexico Off-highway Electric Vehicles Market by Battery Type
8.4 Rest of North America Off-highway Electric Vehicles Market
8.4.1 Rest of North America Off-highway Electric Vehicles Market by Propulsion
8.4.2 Rest of North America Off-highway Electric Vehicles Market by Application
8.4.3 Rest of North America Off-highway Electric Vehicles Market by Battery Type

Chapter 9. Company Profiles
9.1 Caterpillar, Inc.
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expense
9.1.5 Recent strategies and developments:
9.1.5.1 Partnerships, Collaborations, and Agreements:
9.1.5.2 Product Launches and Product Expansions:
9.1.6 SWOT Analysis
9.2 CNH Industrial N.V
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Regional & Segmental Analysis
9.2.4 Research & Development Expenses
9.2.5 SWOT Analysis
9.3 Hitachi Construction Machinery Co., Ltd. (Hitachi, Ltd.)
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expenses
9.3.5 SWOT Analysis
9.4 J C Bamford Excavators Ltd.
9.4.1 Company Overview
9.4.2 SWOT Analysis
9.5 Komatsu Ltd.
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expenses
9.5.5 Recent strategies and developments:
9.5.5.1 Product Launches and Product Expansions:
9.5.6 SWOT Analysis
9.6 Volvo Construction Equipment AB (Volvo Group)
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Research & Development Expense
9.6.5 Recent strategies and developments:
9.6.5.1 Product Launches and Product Expansions:
9.7 Deere & Company
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Segmental and Regional Analysis
9.7.4 Research & Development Expenses
9.7.5 Recent strategies and developments:
9.7.5.1 Product Launches and Product Expansions:
9.7.6 SWOT Analysis
9.8 Doosan Corporation
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Segmental and Regional Analysis
9.8.4 Research & Development Expenses
9.8.5 SWOT Analysis
9.9 Sandvik AB
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Segmental and Regional Analysis
9.9.4 Research & Development Expenses
9.9.5 Recent strategies and developments:
9.9.5.1 Partnerships, Collaborations, and Agreements:
9.9.6 SWOT Analysis
9.10. Epiroc AB
9.10.1 Company Overview
9.10.2 Financial Analysis
9.10.3 Segmental and Regional Analysis
9.10.4 Research & Development Expense
9.10.5 SWOT Analysis
TABLE 1 North America Off-highway Electric Vehicles Market, 2021 - 2024, USD Million
TABLE 2 North America Off-highway Electric Vehicles Market, 2025 - 2032, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Off-highway Electric Vehicles Market
TABLE 4 Product Launches And Product Expansions– Off-highway Electric Vehicles Market
TABLE 5 North America Off-highway Electric Vehicles Market by Propulsion, 2021 - 2024, USD Million
TABLE 6 North America Off-highway Electric Vehicles Market by Propulsion, 2025 - 2032, USD Million
TABLE 7 North America Battery Electric Vehicle (BEV) Market by Region, 2021 - 2024, USD Million
TABLE 8 North America Battery Electric Vehicle (BEV) Market by Region, 2025 - 2032, USD Million
TABLE 9 North America Hybrid Electric Vehicle (HEV) Market by Region, 2021 - 2024, USD Million
TABLE 10 North America Hybrid Electric Vehicle (HEV) Market by Region, 2025 - 2032, USD Million
TABLE 11 North America Off-highway Electric Vehicles Market by Application, 2021 - 2024, USD Million
TABLE 12 North America Off-highway Electric Vehicles Market by Application, 2025 - 2032, USD Million
TABLE 13 North America Agriculture Market by Country, 2021 - 2024, USD Million
TABLE 14 North America Agriculture Market by Country, 2025 - 2032, USD Million
TABLE 15 North America Mining Market by Country, 2021 - 2024, USD Million
TABLE 16 North America Mining Market by Country, 2025 - 2032, USD Million
TABLE 17 North America Construction Market by Country, 2021 - 2024, USD Million
TABLE 18 North America Construction Market by Country, 2025 - 2032, USD Million
TABLE 19 North America Off-highway Electric Vehicles Market by Battery Type, 2021 - 2024, USD Million
TABLE 20 North America Off-highway Electric Vehicles Market by Battery Type, 2025 - 2032, USD Million
TABLE 21 North America Li-ion Market by Country, 2021 - 2024, USD Million
TABLE 22 North America Li-ion Market by Country, 2025 - 2032, USD Million
TABLE 23 North America Lead-acid Market by Country, 2021 - 2024, USD Million
TABLE 24 North America Lead-acid Market by Country, 2025 - 2032, USD Million
TABLE 25 North America Off-highway Electric Vehicles Market by Country, 2021 - 2024, USD Million
TABLE 26 North America Off-highway Electric Vehicles Market by Country, 2025 - 2032, USD Million
TABLE 27 US Off-highway Electric Vehicles Market, 2021 - 2024, USD Million
TABLE 28 US Off-highway Electric Vehicles Market, 2025 - 2032, USD Million
TABLE 29 US Off-highway Electric Vehicles Market by Propulsion, 2021 - 2024, USD Million
TABLE 30 US Off-highway Electric Vehicles Market by Propulsion, 2025 - 2032, USD Million
TABLE 31 US Off-highway Electric Vehicles Market by Application, 2021 - 2024, USD Million
TABLE 32 US Off-highway Electric Vehicles Market by Application, 2025 - 2032, USD Million
TABLE 33 US Off-highway Electric Vehicles Market by Battery Type, 2021 - 2024, USD Million
TABLE 34 US Off-highway Electric Vehicles Market by Battery Type, 2025 - 2032, USD Million
TABLE 35 Canada Off-highway Electric Vehicles Market, 2021 - 2024, USD Million
TABLE 36 Canada Off-highway Electric Vehicles Market, 2025 - 2032, USD Million
TABLE 37 Canada Off-highway Electric Vehicles Market by Propulsion, 2021 - 2024, USD Million
TABLE 38 Canada Off-highway Electric Vehicles Market by Propulsion, 2025 - 2032, USD Million
TABLE 39 Canada Off-highway Electric Vehicles Market by Application, 2021 - 2024, USD Million
TABLE 40 Canada Off-highway Electric Vehicles Market by Application, 2025 - 2032, USD Million
TABLE 41 Canada Off-highway Electric Vehicles Market by Battery Type, 2021 - 2024, USD Million
TABLE 42 Canada Off-highway Electric Vehicles Market by Battery Type, 2025 - 2032, USD Million
TABLE 43 Mexico Off-highway Electric Vehicles Market, 2021 - 2024, USD Million
TABLE 44 Mexico Off-highway Electric Vehicles Market, 2025 - 2032, USD Million
TABLE 45 Mexico Off-highway Electric Vehicles Market by Propulsion, 2021 - 2024, USD Million
TABLE 46 Mexico Off-highway Electric Vehicles Market by Propulsion, 2025 - 2032, USD Million
TABLE 47 Mexico Off-highway Electric Vehicles Market by Application, 2021 - 2024, USD Million
TABLE 48 Mexico Off-highway Electric Vehicles Market by Application, 2025 - 2032, USD Million
TABLE 49 Mexico Off-highway Electric Vehicles Market by Battery Type, 2021 - 2024, USD Million
TABLE 50 Mexico Off-highway Electric Vehicles Market by Battery Type, 2025 - 2032, USD Million
TABLE 51 Rest of North America Off-highway Electric Vehicles Market, 2021 - 2024, USD Million
TABLE 52 Rest of North America Off-highway Electric Vehicles Market, 2025 - 2032, USD Million
TABLE 53 Rest of North America Off-highway Electric Vehicles Market by Propulsion, 2021 - 2024, USD Million
TABLE 54 Rest of North America Off-highway Electric Vehicles Market by Propulsion, 2025 - 2032, USD Million
TABLE 55 Rest of North America Off-highway Electric Vehicles Market by Application, 2021 - 2024, USD Million
TABLE 56 Rest of North America Off-highway Electric Vehicles Market by Application, 2025 - 2032, USD Million
TABLE 57 Rest of North America Off-highway Electric Vehicles Market by Battery Type, 2021 - 2024, USD Million
TABLE 58 Rest of North America Off-highway Electric Vehicles Market by Battery Type, 2025 - 2032, USD Million
TABLE 59 key information – Caterpillar, Inc.
TABLE 60 Key Information – CNH Industrial N.V.
TABLE 61 Key Information – Hitachi construction machinery co., ltd.
TABLE 62 Key Information – J C Bamford Excavators Ltd.
TABLE 63 Key Information – Komatsu Ltd.
TABLE 64 Key Information – Volvo Construction Equipment AB
TABLE 65 Key Information – Deere & Company
TABLE 66 Key Information – Doosan Corporation
TABLE 67 Key Information – Sandvik AB
TABLE 68 Key Information – Epiroc AB

List of Figures
FIG 1 Methodology for the research
FIG 2 North America Off-highway Electric Vehicles Market, 2021 - 2032, USD Million
FIG 3 Key Factors Impacting Off-highway Electric Vehicles Market
FIG 4 KBV Cardinal Matrix
FIG 5 Market Share Analysis, 2024
FIG 6 Key Leading Strategies: Percentage Distribution (2021-2025)
FIG 7 Key Strategic Move: (Product Launches and Product Expansions : 2021, Jun – 2025, Jan) Leading Players
FIG 8 Porter’s Five Forces Analysis – Off-highway Electric Vehicles Market
FIG 9 North America Off-highway Electric Vehicles Market share by Propulsion, 2024
FIG 10 North America Off-highway Electric Vehicles Market share by Propulsion, 2032
FIG 11 North America Off-highway Electric Vehicles Market by Propulsion, 2021 - 2032, USD Million
FIG 12 North America Off-highway Electric Vehicles Market share by Application, 2024
FIG 13 North America Off-highway Electric Vehicles Market share by Application, 2032
FIG 14 North America Off-highway Electric Vehicles Market by Application, 2021 - 2032, USD Million
FIG 15 North America Off-highway Electric Vehicles Market share by Battery Type, 2024
FIG 16 North America Off-highway Electric Vehicles Market share by Battery Type, 2032
FIG 17 North America Off-highway Electric Vehicles Market by Battery Type, 2021 - 2032, USD Million
FIG 18 North America Off-highway Electric Vehicles Market share by Country, 2024
FIG 19 North America Off-highway Electric Vehicles Market share by Country, 2032
FIG 20 North America Off-highway Electric Vehicles Market by Country, 2021 - 2032, USD Million
FIG 21 Recent strategies and developments: Caterpillar, Inc.
FIG 22 SWOT Analysis: Caterpillar, Inc.
FIG 23 SWOT Analysis: CNH Industrial N.V.
FIG 24 SWOT Analysis: HITACHI CONSTRUCTION MACHINERY CO., LTD
FIG 25 SWOT Analysis: J C Bamford Excavators Ltd.
FIG 26 SWOT Analysis: Komatsu Ltd.
FIG 27 SWOT Analysis: Deere & Company
FIG 28 SWOT Analysis: Doosan Corporation
FIG 29 SWOT Analysis: Sandvik AB
FIG 30 Swot Analysis: Epiroc AB

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