Global Off-Highway Equipment Market 2023

Off-highway equipment refers to a broad category of vehicles and machinery designed for use in off-road environments, such as construction sites, agricultural fields, mining operations, and forestry. These specialized machines are built to withstand rugged terrain and perform heavy-duty tasks in challenging conditions. According to the latest estimates, the global off-highway equipment market is set to achieve an incremental growth of USD 48.0 billion, accelerating at a CAGR of almost 2.6% during the forecast period 2023-2029.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the product, powertrain, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global baby bottle market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.
The global market for off-highway equipment can be segmented by product: agriculture equipment (tractor, combine harvester, tillage equipment, planting and crop care equipment, harvesting equipment, others), construction and mining equipment (excavators, loaders, cranes, trucks and tractors, graders/rollers, mixers and pavers, others). Among these, the construction and mining equipment segment was accounted for the highest revenue generator in 2022.
Off-highway equipment market is further segmented by powertrain: internal combustion engine (ICE), pure electric and hybrid. The ICE segment is estimated to account for the largest share of the global off-highway equipment market.
Based on region, the off-highway equipment market is segmented into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. Asia-Pacific held the largest share in the global off-highway equipment market in 2022 and is projected to portray the fastest growth rate in the coming years.

The market research report covers the analysis of key stake holders of the global off-highway equipment market. Some of the leading players profiled in the report include AB Volvo, AGCO Corporation, Caterpillar Inc., CLAAS KGaA mbH, CNH Industrial N.V., Deere & Company, Doosan Corporation, Epiroc AB, Guangxi LiuGong Machinery Co., Ltd., Hitachi, Ltd., J.C. Bamford Excavators Limited, KOBELCO Construction Machinery Co., Ltd., Komatsu Ltd., Kubota Corporation, Liebherr-International Deutschland GmbH, Mahindra & Mahindra Limited (M&M), Metso Corporation, Mitsubishi Heavy Industries, Ltd., Sandvik AB, Sany Heavy Industry Co., Ltd., Takeuchi Mfg. Co., Ltd., Terex Corporation, Xuzhou Construction Machinery Group Co., Ltd., Zoomlion Heavy Industry Science and Technology Co., Ltd., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Why Choose This Report

Gain a reliable outlook of the global off-highway equipment market forecasts from 2023 to 2029 across scenarios.
Identify growth segments for investment.
Stay ahead of competitors through company profiles and market data.
The market estimate for ease of analysis across scenarios in Excel format.
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Market Segments Covered in Global Off-Highway Equipment Industry Analysis:
i.) Product
– Agriculture equipment (tractor, combine harvester, tillage equipment, planting and crop care equipment, harvesting equipment, others)
– Construction and mining equipment (excavators, loaders, cranes, trucks and tractors, graders/rollers, mixers and pavers, others)

ii.) Powertrain
– Internal combustion engine (ICE)
– Pure electric and hybrid

iii.) Region
– North America
– Europe
– Asia-Pacific
– MEA (Middle East and Africa)
– Latin America

Global Off-Highway Equipment Market 2023

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Global Off-Highway Equipment Market 2023 - Report Scope
REPORT ATTRIBUTE

DETAILS

Market Size (2022)

USD 280.8 Billion

Base Year

2022

Forecast Year

2023-2029

CAGR (2023-2029)

2.6%

Pages

91

Segments By

Product, Powertrain, Region

Regions Covered

North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America

Key Players

AB Volvo, AGCO Corporation, Caterpillar Inc., CLAAS KGaA mbH, CNH Industrial N.V., Deere & Company, Doosan Corporation, Epiroc AB, Guangxi LiuGong Machinery Co. Ltd., Hitachi Ltd., J.C. Bamford Excavators Limited, KOBELCO Construction Machinery Co. Ltd., Komatsu Ltd., Kubota Corporation, Liebherr-International Deutschland GmbH, Mahindra & Mahindra Limited (M&M), Metso Corporation, Mitsubishi Heavy Industries Ltd., Sandvik AB, Sany Heavy Industry Co. Ltd., Takeuchi Mfg. Co. Ltd., Terex Corporation, Xuzhou Construction Machinery Group Co. Ltd., Zoomlion Heavy Industry Science and Technology Co. Ltd.

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