The Latin America, Middle East and Africa Off-highway Electric Vehicles Market is expected to witness market growth of 22.4% CAGR during the forecast period (2025-2032).
The Brazil market dominated the LAMEA Off-highway Electric Vehicles Market by country in 2024, and is expected to continue to be a dominant market till 2032; thereby, achieving a market value of $905.5 Million by 2032. The Argentina market is showcasing a CAGR of 23.1% during 2025-2032. Additionally, the UAE market would register a CAGR of 21.3% during 2025-2032.
The expansion of charging infrastructure, including fast-charging stations and mobile charging units, facilitates the adoption of electric off-highway vehicles. Companies invest in on-site renewable energy sources such as solar and wind power to create self-sustaining charging ecosystems for their fleets.
The transition to electric off-highway vehicles presents multiple benefits, not just from an environmental perspective but also in terms of operational efficiency and long-term cost-effectiveness. Off-highway electric vehicles significantly reduce greenhouse gas emissions, making them crucial in achieving climate goals.
The market is experiencing steady growth, driven by global efforts to transition towards sustainable and energy-efficient solutions in the construction, mining, and oil and gas industries. The UAE, particularly Abu Dhabi, plays a pivotal role in the global oil sector, with 96% of the country’s oil reserves and a daily petroleum production of 3.2 million barrels. The discovery of 80 trillion cubic feet of gas resources at Jebel Ali in 2020 has further solidified the nation’s dominance in the energy sector. Furthermore, Saudi Arabia is transforming its mining sector, which aligns with Vision 2030, with an estimated mineral wealth of $2.5 trillion. The Kingdom’s commitment to diversifying its economy includes a $182 million investment in exploration incentives by the end of 2023. Moreover, Nigeria’s construction sector witnessed a 5.7% growth in 2022 and is projected to maintain an average growth rate of 3.2% between 2022 and 2026. This expansion is largely driven by urbanization, infrastructure projects, and government-led initiatives to improve transportation and housing. Thus, the UAE, Saudi Arabia, and Nigeria present promising opportunities for the market due to rapid sectoral growth in oil & gas, mining, and construction.
The Brazil market dominated the LAMEA Off-highway Electric Vehicles Market by country in 2024, and is expected to continue to be a dominant market till 2032; thereby, achieving a market value of $905.5 Million by 2032. The Argentina market is showcasing a CAGR of 23.1% during 2025-2032. Additionally, the UAE market would register a CAGR of 21.3% during 2025-2032.
The expansion of charging infrastructure, including fast-charging stations and mobile charging units, facilitates the adoption of electric off-highway vehicles. Companies invest in on-site renewable energy sources such as solar and wind power to create self-sustaining charging ecosystems for their fleets.
The transition to electric off-highway vehicles presents multiple benefits, not just from an environmental perspective but also in terms of operational efficiency and long-term cost-effectiveness. Off-highway electric vehicles significantly reduce greenhouse gas emissions, making them crucial in achieving climate goals.
The market is experiencing steady growth, driven by global efforts to transition towards sustainable and energy-efficient solutions in the construction, mining, and oil and gas industries. The UAE, particularly Abu Dhabi, plays a pivotal role in the global oil sector, with 96% of the country’s oil reserves and a daily petroleum production of 3.2 million barrels. The discovery of 80 trillion cubic feet of gas resources at Jebel Ali in 2020 has further solidified the nation’s dominance in the energy sector. Furthermore, Saudi Arabia is transforming its mining sector, which aligns with Vision 2030, with an estimated mineral wealth of $2.5 trillion. The Kingdom’s commitment to diversifying its economy includes a $182 million investment in exploration incentives by the end of 2023. Moreover, Nigeria’s construction sector witnessed a 5.7% growth in 2022 and is projected to maintain an average growth rate of 3.2% between 2022 and 2026. This expansion is largely driven by urbanization, infrastructure projects, and government-led initiatives to improve transportation and housing. Thus, the UAE, Saudi Arabia, and Nigeria present promising opportunities for the market due to rapid sectoral growth in oil & gas, mining, and construction.
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
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
li>Brazil- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA Off-highway Electric Vehicles Market by Propulsion
Chapter 6. LAMEA Off-highway Electric Vehicles Market by Application
Chapter 7. LAMEA Off-highway Electric Vehicles Market by Battery Type
Chapter 8. LAMEA Off-highway Electric Vehicles Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- 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
Methodology
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