Market AnalysisThe 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.
They also differ with regards to product specifications as per the load operations and worksite.
Planting and fertilizing equipment, farm tractors, harvesters and forwarders, metals and minerals mining machinery, excavators and loaders, and others are the different types of machinery that have wide applications in forestry, mining, agriculture, construction, and others.Various factors are propelling the global off-road equipment market share.
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).
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.