Global Off-Road Equipment Market-Industry Analysis and forecast 2027

[Jay Mangade]

Global Off-Road Equipment Market size was valued US$ XX Bn in 2019 and the total revenue is expected to grow at 4.9% from 2020 to 2027, reaching US$ XX Bn.

Global Off-Road Equipment Market

Global Off-Road Equipment Market Overview:

The rising public-private firms to implement infrastructure work together with the wide-scale acceptance of the leasing business model have brought an increased demand for off-road equipment over the last few years. The construction machinery cannot be afforded by every end-user firm owing to its high cost. Also, there are numerous construction plans which require construction machinery temporarily. The price of machinery has raised over the last few years due to the integration of progressive safety technologies, which has activated the end user’s preference toward acquiring these types of machinery on a rent basis. The rent providers have acknowledged the development opportunity & have started to upgrade their current fleet, thereby driving the demand for off-road equipment.

Additionally, to save on the rate of machinery & charge suffered behind its maintenance & repairs, small builders, contractors, & construction companies take machinery on a rent basis from the rent service suppliers. Numerous firms are investing in the construction equipment rental business due to the high profit incurred in this business. Construction equipment is very robust machinery having a life span of 7 to 10 years due to which firms prefer to rent out old machinery for profit. This rising trend of equipment rent trade is a major factor in endorsing market development.

The demand for off-road construction equipment is extraordinary from the residential construction area due to fast-moving urbanization in nations with China & India. The development activates not only the demand for the residential areas but also other connected infrastructures like roads, hospitals, schools, & commercial spaces. To manage the demand for these civic infrastructures, the government applies an important amount to the construction area. For instance, according to the India Brand Equity Foundation (IBEF), India plans to spend USD 1.4 trillion on infrastructure during the forecast period. The government of India would extremely invest in the infrastructure area, significantly on city transport infrastructures like the metro rail network, renewable energy, & highways.

The request for material handling machinery like cranes is increasing in established republics. The growing trend of building massive infrastructures, skyscrapers, & commercial constructions is estimated to increase the demand for these types of machinery internationally. Growing investment in road construction plans has increased the demand for concrete & road construction machinery like concrete mixers & pavers. For example, in nations like India & China, governments have taken the initiative to expand the road infrastructure. The Indian government newly declared that it would invest INR 15 trillion during the forecast years in its determined strategy to increase highway infrastructure, thus driving the demand for the concrete & road construction machinery section during the forecast period.

Competitive Landscape:

Global Off-Road Equipment Market1

The objective of the report is to present a comprehensive analysis of the Global Off-Road Equipment Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Off-Road Equipment Market dynamics, structure by analyzing the market segments and project the Global Off-Road Equipment Market size. Clear representation of competitive analysis of key players by Building Height, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Off-Road Equipment Market make the report investor’s guide.
Global Off-Road Equipment Market, By Product:

• Dump Trucks
• Cranes
• Excavators
• Crawlers
• Loaders
• Others
Global Off-Road Equipment Market, By Application:

• Infrastructure
• Commercial Buildings
• Residential Buildings
• Industrial Buildings
• Others
Global Off-Road Equipment Market, By Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
Global Off-Road Equipment Market, Key players

• AB Volvo,
• Caterpillar
• AGCO Corporation
• Bell Equipment
• CLAAS KGaA mbH
• CNH Industrial N.V
• Deere & Company
• Doosan Infracore
• Escorts Limited
• Hitachi, Ltd
• Komatsu America Corp
• KUBOTA Corporation
• Liebherr Group
• Mahindra & Mahindra Ltd
• Manitowoc
• SAME DEUTZ-FAHR Italia S.p.A.
• Terex Corporation,
• YANMAR CO., LTD

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