Study #: 4208 | Published: 04/2021 | Pages: 184 | Individual User License: US$ 3,900

Global demand for off-road equipment – including construction, agricultural, mining, and forestry machinery – is forecast to rise 5.4% to $439 billion in 2021. Following a sharp decline in 2020 as demand plummeted in key sectors due to the COVID-19 pandemic, demand is expected to rebound in 2021 as revenues in these industries rise and machine purchases resume. Mining in particular will see these trends, as it was deemed “nonessential” in parts of the world, forcing operations to idle for several months.

Through 2025, demand will increase 3.8% annually. Long-term advances will be boosted by rising investment in state-of-the-art technologies designed to help customers improve efficiency and productivity, particularly:

  • autonomous equipment and robotics
  • fuel efficient and low- or zero-emission equipment
  • advanced ergonomics and improved operator comfort
  • predictive maintenance, global positioning, drones, and other solutions made capable by advances in the industrial internet of things (IIoT)

Healthy Growth Expected in All Regions Post Pandemic

In 2021 and beyond, the Asia/Pacific region will continue to drive global sales growth, supported by rebounding construction and rising investment as the pandemic recedes. China, Australia, South Korea, and several other countries saw lesser disruption or earlier recoveries than other parts of the world, which will boost advances in 2021. Central and South America will register the fastest advances post pandemic, albeit from a smaller base, spurred by rising mechanization rates as more foreign-run firms enter and invest in key local industries.

While North America and Western Europe will contribute to global expansion through 2025, short term growth in these mature markets will continue to be constrained by weak mining output and a protracted recovery in nonresidential construction.

Global Smart Off-Road Technology Sales to Nearly Triple from 2021 to 2025

Sales of smart equipment are expected to nearly triple through 2025, when they will account for over 4% of global demand boosted by increasing use of drones and other smart technologies. As capital investment returns to growth following the COVID-19 pandemic, many firms will opt for smart products due to their ability to boost productivity.

The mining sector will spur advances, as it is expected to become the leading smart off-road equipment market in 2025. Mining firms typically have the financial resources to absorb the high costs of advanced smart equipment, while costs are a more significant hurdle for many construction or agricultural projects.

Additionally, producers such as Deere, Doosan Infracore, and Komatsu increasingly offer smart construction equipment options to give operators more control, precision, and information about the machine and the task it is performing. The agricultural industry has already made significant headway in adopting precision agriculture and farm management solutions that rely on smart technologies.


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Table of Contents

1. Executive Summary

2. Regional Market Outlook

Off-Road Equipment Market Size & Outlook by Region

Growth Comparison by Country

Demand by Equipment Type

Country Spotlight: China

Country Spotlight: Russia

Country Spotlight: Mexico

3. Global Technology Trends

Product Development & Technology Focus

Industrial Internet of Things (IIoT)

Smart Technology Definition & Scope

Global Smart Technology Outlook

Autonomous Equipment

Predictive Maintenance

Global Positioning

Drones

Engine Technologies

Hybrids

All-Electric Equipment

Advanced Ergonomics & Operability

3D Printed Components

4. Construction Machinery

Demand Forecast by Region

Technology Focus 2021

Key Innovation Trends

Smart Technology Outlook

Electric & Hybrid Engines

Autonomous & Semi-Autonomous Machines

Construction Drones

Improved Handling & Ergonomics

5. Agricultural Equipment

Demand Forecast by Region

Technology Focus 2021

Key Innovation Trends

Smart Technology Outlook

Autonomous Tractors & Other Machinery

Farming Robots

Agricultural Drones

Precision Agriculture

Specialty Machines

Data Systems

6. Mining Equipment

Demand Forecast by Region

Technology Focus 2021

Key Innovation Trends

Smart Technology Outlook

Autonomous & Semi-Autonomous Mining Machinery

Electric & Hybrid Mining Machinery

Digital Mine Management

High Performance Equipment

Mining Drones

7. Forestry Equipment

Demand Forecast by Region

Technology Focus 2021

Key Innovation Trends

Smart Technology Outlook

Fuel Efficiency & Lower Emissions

Improved Handling & Operator Comfort

Advanced Software & Remote Monitoring

Winch-Assist Technologies

8. Manufacturer Spotlight

Leading Global Suppliers

Caterpillar

CNH Industrial

Deere

Hitachi

Komatsu

Kubota

Liebherr-International

Sandvik

9. Appendix

Scope

Definitions

Abbreviations

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Country Lists by Region

Macroeconomic Assumptions

Global Economic Outlook

Global Population

Global Construction Outlook

Global Manufacturing Outlook


List of Tables

2. Regional Market Outlook

Table 2-1 | Global Off-Road Equipment Demand by Region, 2019 - 2025 (million dollars)

Table 2-2 | Off-Road Equipment Demand Growth for Selected Countries, 2021 - 2025 (% CAGR)

Table 2-3 | Global Off-Road Equipment Demand by Type, 2019 - 2025 (million dollars)

3. Global Technology Trends

Table 3-1 | Smart Off-Road Machinery Demand by Type, 2019 - 2025 (million dollars)

Table 3-2 | Key Advantages of Autonomous Off-Road Equipment

Table 3-3 | Global Construction, Agricultural, & Mining Drone Demand, 2019 - 2025 (million dollars)

4. Construction Machinery

Table 4-1 | Global Construction Machinery Demand by Region, 2019 - 2025 (million dollars)

Table 4-2 | Electric Construction Machinery: Selected Products Available or in Development

Table 4-3 | Autonomous & Semi-Autonomous Construction Machinery: Selected Products Available or in Development

Table 4-4 | Construction Machinery with Improved Handling & Ergonomics: Selected Products

5. Agricultural Equipment

Table 5-1 | Global Agricultural Equipment Demand by Region, 2019 - 2025 (million dollars)

Table 5-2 | Autonomous Agricultural Equipment: Selected Products Available or in Development

Table 5-3 | Farming Robots: Selected Products Available or in Development

Table 5-4 | Specialty Agricultural Equipment: Selected New Products

6. Mining Equipment

Table 6-1 | Global Mining Equipment Demand by Region, 2019 - 2025 (million dollars)

Table 6-2 | Autonomous Mining Equipment: Selected Products Available or in Development

Table 6-3 | Electric & Hybrid Mining Equipment: Selected Products Available or in Development

Table 6-4 | Digital Mine Management Technologies: Selected New Products

Table 6-5 | Mining Equipment: Selected New Products

7. Forestry Equipment

Table 7-1 | Global Forestry Equipment Demand by Region, 2019 - 2025 (million dollars)

Table 7-2 | Fuel Efficient & Low Emissions Forestry Equipment: Selected New Products

Table 7-3 | Forestry Equipment with Improved Handling or Operator Comfort: Selected Products

9. Appendix

Table 9-1 | Off-Road Equipment Scope: Product Examples by Equipment Type

Table 9-2 | Relevant NAICS & SIC Codes

Table 9-3 | Relevant HS Codes

Table 9-4 | Relevant NACE Codes

Table 9-5 | Abbreviations & Acronyms Used in Study

Table 9-6 | Countries in North America

Table 9-7 | Countries in Central & South America

Table 9-8 | Countries in Western Europe

Table 9-9 | Countries in Eastern Europe

Table 9-10 | Countries in the Asia/Pacific Region

Table 9-11 | Countries in the Africa/Mideast Region

Table 9-12 | Global Gross Domestic Product by Region & Country, 2010 - 2025 (billion 2019 dollars)

Table 9-13 | Global Population by Region & Country, 2010 - 2025 (million persons)

Table 9-14 | Global Construction Expenditures by Region & Country, 2010 - 2025 (billion 2019 dollars)

Table 9-15 | Global Manufacturing Value Added by Region & Country, 2010 - 2025 (billion 2019 dollars)


List of Figures

1. Executive Summary

Figure 1-1 | Global Off-Road Equipment Market

2. Regional Market Outlook

Figure 2-1 | Global Off-Road Equipment Demand by Region, 2021 - 2025 (% CAGR)

Figure 2-2 | Off-Road Equipment Demand Growth by Country, 2021 - 2025 (% CAGR)

Figure 2-3 | Global Off-Road Equipment Demand by Type, 2003 - 2025 (billion dollars)

Figure 2-4 | China: Off-Road Equipment Market Position & Outlook

Figure 2-5 | Russia: Off-Road Equipment Market Position & Outlook

Figure 2-6 | Mexico: Off-Road Equipment Market Position & Outlook

3. Global Technology Trends

Figure 3-1 | Off-Road Equipment Innovation Focus by Product Type

Figure 3-2 | Smart Machinery Share of 2021 Off-Road Equipment Sales & Sales Forecast by Equipment Type, 2021 - 2025 (% CAGR)

Figure 3-3 | Autonomous Off-Road Equipment: Top Developers

Figure 3-4 | Drones: Product Examples

Figure 3-5 | Electric Powered Off-Road Equipment: Product Examples

Figure 3-6 | Off-Road Equipment: Product Developments in 3D Printing

4. Construction Machinery

Figure 4-1 | Global Construction Machinery Demand, 2003 - 2025 (billion dollars)

Figure 4-2 | Global Construction Machinery Demand Outlook by Region, 2021 - 2025 (% CAGR)

Figure 4-3 | Construction Machinery: Key Innovation Trends

Figure 4-4 | Smart Construction Machinery Demand, 2020 - 2025 (million dollars)

Figure 4-5 | Construction Drones: Product Examples

5. Agricultural Equipment

Figure 5-1 | Global Agricultural Equipment Demand, 2003 - 2025 (billion dollars)

Figure 5-2 | Agricultural Equipment Demand Growth by Region, 2021 - 2025 (% CAGR)

Figure 5-3 | Agricultural Equipment: Key Innovation Trends

Figure 5-4 | Smart Agricultural Equipment Demand, 2020 - 2025 (million dollars)

Figure 5-5 | Agricultural Equipment: Autonomous Machinery in Development

Figure 5-6 | Agricultural Equipment: Selected Robots in Development

6. Mining Equipment

Figure 6-1 | Global Mining Equipment Demand, 2003 - 2025 (billion dollars)

Figure 6-2 | Mining Equipment: Demand Growth by Region, 2021 - 2025 (% CAGR)

Figure 6-3 | Mining Equipment: Key Innovation Trends

Figure 6-4 | Smart Mining Equipment Demand, 2020 - 2025 (million dollars)

7. Forestry Equipment

Figure 7-1 | Global Forestry Equipment Demand, 2003 - 2025 (billion dollars)

Figure 7-2 | Forestry Equipment: Demand Growth by Region, 2021 - 2025 (% CAGR)

Figure 7-3 | Forestry Equipment: Key Innovation Trends

Figure 7-4 | Smart Forestry Equipment Demand, 2020 - 2025 (million dollars)

Figure 7-5 | Advanced Software for Forestry Equipment: Product Examples

Figure 7-6 | Winch-Assist Systems for Forestry Equipment: Product Examples

8. Manufacturer Spotlight

Figure 8-1 | Caterpillar: R&D Overview & Key Focus Areas

Figure 8-2 | CNH Industrial: R&D Overview & Key Focus Areas

Figure 8-3 | Deere: R&D Overview & Key Focus Areas

Figure 8-4 | Hitachi: R&D Overview & Key Focus Areas

Figure 8-5 | Komatsu: R&D Overview & Key Focus Areas

Figure 8-6 | Kubota: R&D Overview & Key Focus Areas

Figure 8-7 | Liebherr-International: R&D Overview & Key Focus Areas

Figure 8-8 | Sandvik: R&D Overview & Key Focus Areas

9. Appendix


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