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Market Research Future (MRFR) reveals different factors that can impact the global off-road equipment market 2020 across the forecast period 2019–2025. The off-highway equipment market can rise at about 4.0% CAGR in the analysis period. The short term impact and long-term consequences of COVID 19 on the off-highway equipment market is supplemented with the report.Off-road equipment is used to perform tasks on, above, and/or below the ground. The wide range of applications of off-road equipment can favor the market in the years to come. The increased in the need for off road equipment by lawn mowers, large mining truck, and small agricultural machines can impact the expansion of the regional market in the years to come. The availability of off-road equipment with various specification to meet requirements for different industries can also benefit the off-road equipment market expansion.
The enforcement of stringent government norms for heavy duty equipment and other related pointers, such as engine efficiency and emission norms can contribute to the expansion of off-road equipment global market. The increase in urban developments and rise in the average labor cost are creating the need for off road equipment, which can support its market expansion. The high demand for zero-emissions and advanced equipment, along with the growing popularity of electric machines can positively impact the expansion of the off-highway equipment market in the analysis period. Other supporting factors and restrains are elaborated in the off-road equipment global market report.
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Market Segmentation
The segment analysis of the off-road equipment market is done by end-use machinery type and industry.
The machinery type based segments of the off-road equipment market are metals & minerals mining machinery, excavators & loaders, farm tractors, harvesters and forwarders, and planting and fertilizing equipment among others. The high application of excavators and loaders machinery can support the expansion of the off road equipment market in the years to come. The end-use industry based segments of the off road equipment market are mining, construction, agriculture, and forestry among others. The construction segment can earn high revenue for the off road equipment market in the forecast period.
Detailed Regional Insight
Trends of the off-road equipment market is studied across North America, EU, Asia-Pacific, and the Rest of the World. Asia Pacific off-road equipment market is expected to spearhead the global market in terms of revenue generated in the assessment period. The increase in manufacturing units and the drop in labor cost along with high demand for machinery make the region suitable for the expansion of the off-road equipment market. On the other hand, the off-road equipment market in RoW can experience substantial rise in the years ahead due to the rapid expansion of the construction sector.
In EU, the availability of effective electrification and hybridization capabilities different verticals can favor the off-road sector market in the years to come. , The presence of remarkable producers and their investment in the research and development for the introduction of effective off-road equipment can support the rise of the regional off-road equipment market in the years to come. In addition, the demand for zero-emissions equipment and electric machinery can also promote the regional off-road equipment market across the study period.
Key Players
Caterpillar Inc. (US), CNH Industrial N.V. (US), Kubota Corporation (Japan), Hitachi Construction Machinery (Japan), Komatsu Ltd (Japan), Deere & Company (US), The Liebherr Group (Germany), Sandvik AB (Sweden), Doosan Infracore (South Korea), and Blount International, Inc. (US) are some reputed names in the off-road equipment global industries that are listed by MRFR.
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Table Of Contents
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.1. Definition
2.2.2. Research Objective
2.2.3. Assumptions
2.2.4. Limitations
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
3. Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat Of New Entrants
3.1.2. Bargaining Power Of Buyers
3.1.3. Threat Of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power Of Buyers
3.2. Value Chain/Supply Chain Analysis
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