Global Off-Road Equipment Market
Global Off-Road Equipment Market was valued at US$ 14,820.00 Mn in 2022, estimated to reach US$ 18,117.00 Mn in 2030, with a CAGR of 2.15% from 2023-2027.
Off-Road Equipment and Vehicles include any non-stationary device powered by an internal combustion engine or electric motor and used primarily off highways to propel, move, or draw persons or property, including any device propelled, moved, or drawn solely by human power and used in, but not limited to, the following applications: marine vessels, construction/farm equipment, locomotives, utility engines and lawn and garden equipment, off-road motorcycles, and off-road motorcycles.
Market Drivers
Due to labour expenses and lower production costs, high-income nations like Australia, Canada, Germany, and the US will typically be able to afford modern off-road equipment at the lowest price. Modern technology will only be partially available in low- and middle-income nations, where labour costs are less significant and emission regulations are generally less strict.
In contrast, many of the greatest mines in the world, run by multinational corporations with the resources to invest in cutting-edge, high-tech equipment, are situated in underdeveloped nations. Resulting in the off-road equipment market's expansion.
Market Challenges
International trade is governed by laws and policies is challenging the market. Depending on the nation, different laws and rules apply to the production, importation, and export of off-road vehicles. Import taxes are imposed by nations to shield domestic producers from unjustified competition.
While they might be beneficial, foreign affairs can also heighten global competition. Trade operations are more impacted by international affairs. Commerce agreements may be halted if there are disagreements with other nations, or in the worst circumstances, restrictions that completely halt commerce may be enforced.
Impact of COVID-19
The COVID-19 epidemic has had a significant negative impact on economic growth. Lockdowns conducted around the world have interrupted supply lines and halted output at numerous sites. The sector continues to face difficult market dynamics, including as the ongoing COVID-19 outbreak, supply chain interruptions, and inflationary pressures. Dealers must nevertheless address underlying structural shifts that are endangering their business models at the same time.
Other industries, like the automotive and commercial trucking sectors, have already started on this trip and have increased their efforts in response to the COVID-19 outbreak and the enduring effects that it caused. New disruptors, like digital marketers and used vehicle disruptors, have been able to enter and scale the automotive industry as a result of these changes. Dealers of off-road equipment parts must recognize comparable possibilities to better service their clients and set themselves apart from other businesses.
Market Segmentation
The Global Off-Road Equipment Market is segmented into Product, Application, Distribution Channel and Growing System. By Product such as Dump Trucks, Cranes, Excavators, Crawlers, Loaders, Others. By Application such as Infrastructure, Commercial Buildings, Residential Buildings, Industrial Buildings, Others.
Regional Analysis
Global Off-Road Equipment Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. During the forecast period, the Off-Road Equipment market in Asia-Pacific is expected to grow at the fastest CAGR. Asia-Pacific dominated the market and accounted for the largest revenue share of 27.54% in 2022. The region is expected to continue its dominance over the forecast period. The demand for off-road equipment has increased due to the growth of public-private companies to implement infrastructure improvements and the widespread acceptance of the leasehold business strategy. North America is expected to grow at significant growth rate, as application such as Infrastructure and Commercial Buildings segment are growing in the country.
Key Players
Various key players are listed in this report such as CLAAS KGaA mbH, CNH Industrial N.V, Deere & Company, Escorts Limited, Escorts Limited, Hitachi, Ltd, Komatsu America Corp, Kubota Corporation, Liebherr Group, Mahindra & Mahindra Ltd.
Market Taxonomy
By Product
• Dump Trucks
• Cranes
• Excavators
• Crawlers
• Loaders
• Others
By Application
• Infrastructure
• Commercial Buildings
• Residential Buildings
• Industrial Buildings
• Others
By Region
• North America
o U.S.
o Canada
o Mexico
• Latin America
o Brazil
o Argentina
o Colombia
o Peru
o Chile
o Venezuela
o Rest of Latin America
• Europe
o Germany
o France
o UK
o Russia
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o New Zealand
o Singapore
o Malaysia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest Middle East & Africa
Key Questions Addressed by the Report
• What are the Key Opportunities in Global Off-Road Equipment Market?
• What will be the growth rate from 2023 to 2030?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
Global Off-Road Equipment Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Off-Road Equipment Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing Economic Downturn
4.2.6 Post Covid-19 World Supply and Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Off-Road Equipment Market, By Product
5.1 Y-o-Y Growth Comparison, By Product
5.2 Global Off-Road Equipment Market Share Analysis, By Product
5.3 Global Off-Road Equipment Market Size and Forecast, By Product
5.3.1 Dump Trucks
5.3.2 Cranes
5.3.3 Excavators
5.3.4 Crawlers
5.3.5 Loaders
5.3.6 Others
6 Global Off-Road Equipment Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Off-Road Equipment Market Share Analysis, By Application
6.3 Global Off-Road Equipment Market Size and Forecast, By Application
6.3.1 Infrastructure
6.3.2 Commercial Buildings
6.3.3 Residential Buildings
6.3.4 Industrial Buildings
6.3.5 Others
7 Global Off-Road Equipment Market, By Region
7.1 Global Off-Road Equipment Market Share Analysis, By Region
7.2 Global Off-Road Equipment Market Share Analysis, By Region
7.3 Global Off-Road Equipment Market Size and Forecast, By Region
8 North America Off-Road Equipment Market Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Off-Road Equipment Market Share Analysis, By Product
8.3 North America Off-Road Equipment Market Share Analysis, By Application
8.4 North America Off-Road Equipment Market Size and Forecast, By Country
8.4.1 U.S
8.4.1.1 Market Size and Forecast, By Product
8.4.1.2 Market Size and Forecast, By Application
8.4.2 Canada
8.4.2.1 Market Size and Forecast, By Product
8.4.2.2 Market Size and Forecast, By Application
8.4.3 Mexico
8.4.3.1 Market Size and Forecast, By Product
8.4.3.2 Market Size and Forecast, By Application
9 Europe Off-Road Equipment Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Off-Road Equipment Market Share Analysis, By Product
9.3 Europe Off-Road Equipment Market Size and Forecast, By Application
9.4 Europe Off-Road Equipment Market Size and Forecast, By Country
9.4.1 Germany
9.4.1.1 Market Size and Forecast, By Product
9.4.1.2 Market Size and Forecast, By Application
9.4.2 France
9.4.2.1 Market Size and Forecast, By Product
9.4.2.2 Market Size and Forecast, By Application
9.4.3 UK
9.4.3.1 Market Size and Forecast, By Product
9.4.3.2 Market Size and Forecast, By Application
9.4.4 Russia
9.4.4.1 Market Size and Forecast, By Product
9.4.4.2 Market Size and Forecast, By Application
9.4.5 Italy
9.4.5.1 Market Size and Forecast, By Product
9.4.5.2 Market Size and Forecast, By Application
9.4.6 Spain
9.4.6.1 Market Size and Forecast, By Product
9.4.6.2 Market Size and Forecast, By Application
9.4.7. Rest of Europe
9.4.7.1 Market Size and Forecast, By Product
9.4.7.2 Market Size and Forecast, By Application
10 Asia Pacific Off-Road Equipment Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Off-Road Equipment Market Share Analysis, By Product
10.3 Asia Pacific Off-Road Equipment Market Size and Forecast, By Application
10.4 Asia Pacific Off-Road Equipment Market Size and Forecast, By Country
10.4.1 China
10.4.1.1 Market Size and Forecast, By Product
10.4.1.2 Market Size and Forecast, By Application
10.4.2 Japan
10.4.2.1 Market Size and Forecast, By Product
10.4.2.2 Market Size and Forecast, By Application
10.4.3 India
10.4.3.1 Market Size and Forecast, By Product
10.4.3.2 Market Size and Forecast, By Application
10.4.4 South Korea
10.4.4.1 Market Size and Forecast, By Product
10.4.4.2 Market Size and Forecast, By Application
10.4.5 Australia
10.4.5.1 Market Size and Forecast, By Product
10.4.5.2 Market Size and Forecast, By Application
10.4.6 Newzealand
10.4.6.1 Market Size and Forecast, By Product
10.4.6.2 Market Size and Forecast, By Application
10.4.7 Singapore
10.4.7.1 Market Size and Forecast, By Product
10.4.7.2 Market Size and Forecast, By Application
10.4.8 Malaysia
10.4.8.1 Market Size and Forecast, By Product
10.4.8.2 Market Size and Forecast, By Application
10.4.9. Rest of Asia Pacific
10.4.9.1 Market Size and Forecast, By Product
10.4.9.2 Market Size and Forecast, By Application
11 Latin America Off-Road Equipment Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Off-Road Equipment Market Share Analysis, By Product
11.3 Latin America Off-Road Equipment Market Share Analysis, By Application
11.4 Latin America Off-Road Equipment Market Size and Forecast, Country
11.4.1. Brazil
11.4.1.1 Market Size and Forecast, By Product
11.4.1.2 Market Size and Forecast, By Application
11.4.2 Argentina
11.4.2.1 Market Size and Forecast, By Product
11.4.2.2 Market Size and Forecast, By Application
11.4.3 Colombia
11.4.3.1 Market Size and Forecast, By Product
11.4.3.2 Market Size and Forecast, By Application
11.4.4 Peru
11.4.4.1 Market Size and Forecast, By Product
11.4.4.2 Market Size and Forecast, By Application
11.4.5 Chile
11.4.5.1 Market Size and Forecast, By Product
11.4.5.2 Market Size and Forecast, By Application
11.4.6 Venezuela
11.4.6.1 Market Size and Forecast, By Product
11.4.6.2 Market Size and Forecast, By Application
11.4.7. Rest of Latin America
11.4.7.1 Market Size and Forecast, By Product
11.4.7.2 Market Size and Forecast, By Application
12 Middle East Off-Road Equipment Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Off-Road Equipment Market Share Analysis, By Product
12.3 Middle East Off-Road Equipment Market Size and Forecast, By Application
12.4 Middle East Off-Road Equipment Market Size and Forecast, By Country
12.4.1. Saudi Arabia
12.4.1.1 Market Size and Forecast, By Product
12.4.1.2 Market Size and Forecast, By Application
12.4.2. UAE
12.4.2.1 Market Size and Forecast, By Product
12.4.2.2 Market Size and Forecast, By Application
12.4.3. Egypt
12.4.3.1 Market Size and Forecast, By Product
12.4.3.2 Market Size and Forecast, By Application
12.4.4. Kuwait
12.4.4.1 Market Size and Forecast, By Product
12.4.4.2 Market Size and Forecast, By Application
12.4.5. South Africa
12.4.5.1 Market Size and Forecast, By Product
12.4.5.2 Market Size and Forecast, By Application
12.4.6 Venezuela
12.4.6.1 Market Size and Forecast, By Product
12.4.6.2 Market Size and Forecast, By Application
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 CLAAS KGaA mbH
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2. Deere & Company
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3. CNH Industrial N.V
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Escorts Limited
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Hitachi, Ltd
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Komatsu America Corp.
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Kubota Corporation
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Liebherr Group
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Mahindra & Mahindra Ltd
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
