Market Analysis
The global off-road
equipment market is predicted to develop at a 4.0% CAGR between
2019- 2025, states the recent Market Research Future (MRFR) analysis.
Off-highway or off-road equipment, simply put, are chiefly used with an
off-highway car that varies according to the end use industry for the specific
product like cultivating machinery, plowing, chippers and grinders, forwarders,
and harvesters. They also differ with regards to product specifications as per
the load operations and worksite.
Various factors are propelling the global off-road equipment
market share. According to the recent MRFR report, such factors include
increasing public-private firms implementing infrastructure, huge scale
acceptance of leasing business models, development of off-highway cars,
increasing investments in technical advancements by top manufacturers, and development
& innovation of off-road equipment. Additional factors adding market growth
include strict regulations governing the emission requirements and engine
efficiency, a rise in urbanization following average labor cost, and the
burgeoning demand for hybridization and electrification.
Key Players
Key players profiled in the global off-road equipment market
report include Doosan Infracore (South Korea), Blount International,
Inc. (US), The Liebherr Group (Germany), Sandvik AB (Sweden), Komatsu Ltd
(Japan), Deere & Company (US), Hitachi Construction Machinery (Japan), CNH
Industrial N.V. (US), Kubota Corporation (Japan), and Caterpillar
Inc. (US).
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Market Segmentation
- By
machinery type, the global off-road equipment market is
segmented into planting and fertilizing equipment, farm tractors,
harvesters and forwarders, metals and minerals mining machinery, excavators
and loaders, and others. Of these, the excavators and loaders machinery
type segment will lead the market over the forecast period.
- By end
use industry, the global off-road equipment market is
segmented into forestry, mining, agriculture, construction, and others. Of
these, the construction end use industry segment will dominate the market
over the forecast period.
Regional Analysis
Based on the region, the global off-road equipment industry
report covers the recent trends and growth opportunities across the Asia
Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of
these, the APAC region will lead the market over the forecast period. The
presence of leading emerging economies like India and China, an increase in
average labor costs, and growth of foreign investments for manufacturing plants
are adding to the global off-road equipment market growth in the region.
FOR MORE DETAILS – https://www.marketresearchfuture.com/reports/off-road-equipment-market-7767
Major Highlights of TOC Covers:
·
Executive Summary
·
Key Business Trends
·
Regional Trends and Growth
·
Product Trends
·
End-use Trends
·
Definition and Forecast Parameters
·
Off-road equipment Market Segmentation
·
Off-road equipment Market Landscape
Continued…
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