Market Synopsis:, Off-road equipment is used through off-road vehicles to perform tasks on the ground, above, or below the ground. The off-road equipment varies widely from a range of large mining trucks, to lawn mowers and large mining trucks to small agricultural machines. Also, the same off-road equipment can vary in specification for different industries, for instance, the harvester’s machinery specification is different for the agriculture and forestry industries. , The stringent government norms related to the heavy equipment and other pointers such as the engine efficiency and emission requirements are expected to fuel the growth of the global off-road equipment market. Moreover, the rise in in urbanization with an increase in the average labor cost, increases the demand for the off-road equipment in the global market. There has been an increase in the demand for advanced, zero-emissions equipment, and electric machines in the global off-highway equipment market owing to stringent government norms and rising awareness about environment. In April 2019, the International Mining Publication published that the Dana limited added five facilities in China market to strengthen the electrification and hybridization capabilities, across various markets, including the off-road sector, throughout the region. Therefore, the other manufacturers also invest in the research and development of the off-road equipment, in terms of its electrification and hybridization to meet the demand for electric machinery and zero-emissions equipment. This is expected to create opportunities in the global off-road equipment market. However, a fluctuation in demand for the off-road equipment, around the globe, is the main challenge for the manufacturers in the global off-road equipment industry, which is expected to slow down the overall growth of the market. Thus, the global off-highway equipment market is estimated to witness ~4.0% CAGR during the forecast period, 2019–2025., Global Off-Road Equipment Market Segmentation, , The global off-road equipment market is segmented based on machinery type, end-use industry, and region. On the basis of machinery type, the market

Market Synopsis:

Off-road equipment is used through off-road vehicles to perform tasks on the ground, above, or below the ground. The off-road equipment varies widely from a range of large mining trucks, to lawn mowers and large mining trucks to small agricultural machines. Also, the same off-road equipment can vary in specification for different industries, for instance, the harvester’s machinery specification is different for the agriculture and forestry industries.

The stringent government norms related to the heavy equipment and other pointers such as the engine efficiency and emission requirements are expected to fuel the growth of the global off-road equipment market. Moreover, the rise in in urbanization with an increase in the average labor cost, increases the demand for the off-road equipment in the global market. There has been an increase in the demand for advanced, zero-emissions equipment, and electric machines in the global off-highway equipment market owing to stringent government norms and rising awareness about environment. In April 2019, the International Mining Publication published that the Dana limited added five facilities in China market to strengthen the electrification and hybridization capabilities, across various markets, including the off-road sector, throughout the region. Therefore, the other manufacturers also invest in the research and development of the off-road equipment, in terms of its electrification and hybridization to meet the demand for electric machinery and zero-emissions equipment. This is expected to create opportunities in the global off-road equipment market. However, a fluctuation in demand for the off-road equipment, around the globe, is the main challenge for the manufacturers in the global off-road equipment industry, which is expected to slow down the overall growth of the market. Thus, the global off-highway equipment market is estimated to witness ~4.0% CAGR during the forecast period, 2019–2025.

Global Off-Road Equipment Market Segmentation



The global off-road equipment market is segmented based on machinery type, end-use industry, and region. On the basis of machinery type, the market has been segmented into excavators & loaders, metals & minerals mining machinery, harvesters and forwarders, farm tractors, planting and fertilizing equipment, and others. The excavators & loaders machinery type segment is expected to dominate the global market in terms of value and volume during the forecast period. On the basis of end-use industry, the market has been segmented into construction, agriculture, mining, forestry, and others. The construction segment is expected to dominate the global market in terms of both, value and volume during the forecast period.

Geographically, the global off-road equipment market has been segmented into four regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to hold a prominent market share during the forecast period owing to the growth of manufacturing units and the rise in labor cost, which increases the demand for machinery. On the other hand, the Rest of the World is expected to witness substantial growth with the rising construction industry.



The prominent players in the global off-road equipment industry include Caterpillar Inc. (US), Kubota Corporation (Japan), CNH Industrial N.V. (US), Hitachi Construction Machinery (Japan), Deere & Company (US), Komatsu Ltd (Japan), Sandvik AB (Sweden), The Liebherr Group (Germany), Blount International, Inc. (US), and Doosan Infracore (South Korea).

The report for global off-road equipment market of Market Research Future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.

Intended Audience:

• Off-road equipment manufacturers

• Off-road vehicle manufacturers

• Off- road vehicle technology providers

• End-use industries

• Manufacturers and distributors of raw materials

• Heavy duty vehicle parts suppliers

• Exporters, dealers, and distributors

• Heavy equipment leasing and renting companies