$17.5 Billion Electric Off-Highway Vehicle Market - Global Forecast to 2025: Opportunities in the Development of Long-Range and Fast Charging Battery Technology December 28, 2020 04:28 ET | Source: Research and Markets Research and Markets Dublin, IRELAND ResearchAndMarkets.com's offering. The global electric off-highway vehicle market size is projected to grow from USD 6.3 billion in 2020 to USD 17.5 billion by 2025, at a CAGR 22.8%. "Rising demand for low noise and emission-free machines is the prominent factor for the growth of the electric off-highway vehicle market globally" Caterpillar (US), Komatsu Ltd. (Japan), Hitachi Construction Machinery (Japan), Volvo Construction Equipment (Volvo CE) (Sweden), and Epiroc (Sweden) are the leading manufacturers and suppliers of electric off-highway vehicles, including the electric excavator, electric loader, electric dozer, electric mining dump truck, electric lawnmower and electric tractor in the global market.