Global Off-Road Equipment Technology 2021

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Off Road Equipment

This study analyzes global demand for off-road equipment. Demand values are provided for 2019, 2020, 2021, and 2025 at the manufacturers’ level in current US dollars (i.e., not adjusted to account for inflation). Demand is segmented by equipment type and world region. Data include the value of replacement parts and attachments sold separately. Values do not take into account retail markups. Also excluded are the values of software and services.

Off-road equipment demand is segmented by the following machinery types:

  • construction
  • agricultural
  • mining
  • forestry

The study also provides estimates of demand for smart machinery by equipment type. Smart machinery is defined as equipment that can operate autonomously or semi-autonomously and greatly enhance the abilities of the operator by connecting, sharing, and interacting with other devices to make decisions without human intervention.

While demand for drones is presented in the study, it is not included in the equipment demand totals. Also, drones used by government agencies or environmental groups to monitor forested land are excluded from the study.

Off Road Equipment

Off-Road Equipment Market Size & Outlook by Region

Global demand for off-road equipment is forecast to rise 5.4% between 2020 and 2021, when product sales will total $439 billion. Advances globally will be boosted by rebounding nonresidential construction activity after the sharp decline recorded from 2019 to 2020 due to the COVID-19 pandemic:

  • The Asia/Pacific region will account for nearly half of global sales growth in 2021, supported by rising capital investment in the massive Chinese market in the wake of the pandemic.
  • North America will account for the second largest share of market gains in 2021 – 23% – driven primarily by upgrade equipment sales as pent-up demand is released post pandemic.
  • Western Europe is expected to account for 9% of gains in 2021, though growth will be restrained by market maturity and declining mining output.
  • Central and South America is forecast to record the fastest market advances in 2021, driven by a sharp return to growth in construction activity, as well as rising capital investment in mechanizing regional agricultural and mining sectors.
  • The Africa/Mideast region will also register above average growth in 2021, as these markets continue to develop. As in other developing markets, sales in these regions will be bolstered by expanding investment by foreign companies – particularly from the mining sector – which will contribute to drive mechanization rates.
  • Sales in Eastern Europe will also continue to grow as foreign investment in the region continues to rise, especially in the regional mining sector.
Off Road Equipment

Demand by Equipment Type

The global off-road equipment industry can be segmented into construction, agricultural, mining, and forestry equipment. Demand in each product segment tends to be highly cyclical because large existing machinery stocks in many countries contribute to market maturity. The following are key trends expected for each equipment type in the near term:

  • Global demand for construction machinery – which accounted for 45% of all off-road equipment sales in 2020 because of its widespread use in building construction, nonbuilding construction, and surface mining – is forecast to expand 6.0% in 2021.
  • Global demand for agricultural equipment is projected to climb 5.4% in 2021, the second fastest growth of any market segment. Gains will be driven by rising investment in state-of-the-art agricultural equipment by operators in Western Europe and the US, and by increased adoption of mechanized farming methods in the Asia/Pacific and Africa/Mideast regions.
  • Global mining equipment sales are expected to increase 4.3% in 2021, continuing to recover from the market declines posted between 2012 and 2016 as commodity prices fell.
  • Global forestry equipment sales are forecast to rise 4.8% in 2021, driven by rebounding construction activity and rising capital investment in new equipment in the wake of the pandemic.

In all four off-road equipment markets, market advances will be bolstered by the purchase of high-value, state-of-the-art machinery that improves productivity and efficiency. The growing availability of hybrid and electric zero-emissions equipment will also boost value demand in countries with strict environmental policies.

Off Road Equipment

Global Smart Technology Outlook

In 2021, advanced, smart equipment is expected to be valued at $7.0 billion and account for nearly 2% of the global off-road equipment market. Sales of smart equipment are expected to nearly triple to $20.9 billion through 2025, when they will account for over 4% of global demand. Sales in 2021 will be boosted by improving market conditions as the COVID-19 pandemic recedes, allowing pent-up demand to be released. As capital investment in new equipment rises, many firms will opt for smart products due to their productivity-enhancing benefits.

A fast rate of adoption will occur in high-income countries – such as Canada, the US, and West European nations – where high production costs and labor shortages make investment in advanced machinery more cost effective. In addition, customers in high-income countries generally find it easier to obtain financing for expensive equipment purchases than those in developing regions.

Smart technologies will continue to be adopted in each off-road equipment sector at a rapid pace, albeit from a small base. Among the four major off-road equipment product segments, smart technologies have seen the most penetration in mining machinery.

The construction market accounts for the largest share of smart off-road equipment sales.

Agricultural equipment also accounts for a sizable share of smart off-road equipment sales. The agricultural industry has already made significant headway in adopting precision agriculture and farm management solutions that rely on smart technologies. However, the cyclicality of the agriculture market – driven primarily by upgrades of technologies at existing facilities rather than new capacity expansion – will restrain faster penetration over the long term.

Off Road Equipment

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Purchase Global Off-Road Equipment Technology 2021 by the Section

  1. Global Off-Road Equipment Technology 2021

    $3,900.00

    1. 1 Executive Summary

      $323.00

      1. Figure 1-1 | Global Off-Road Equipment Market

    2. 2 Regional Market Outlook

      $739.00

      1. 2.1 Off-Road Equipment Market Size & Outlook by Region

        $323.00

        1. Table | Global Off-Road Equipment Demand by Region, 2019 - 2025

        2. Figure 2-1 | Global Off-Road Equipment Demand by Region, 2021 - 2025

      2. 2.2 Growth Comparison by Country

        $323.00

        1. Table | Off-Road Equipment Demand Growth for Selected Countries, 2021 - 2025

        2. Figure 2-2 | Off-Road Equipment Demand Growth by Country, 2021 - 2025

      3. 2.3 Demand by Equipment Type

        $323.00

        1. Table | Global Off-Road Equipment Demand by Type, 2019 - 2025

        2. Figure 2-3 | Global Off-Road Equipment Demand by Type, 2003 - 2025

      4. 2.4 Country Spotlight: China

        $323.00

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

      5. 2.5 Country Spotlight: Russia

        $323.00

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

      6. 2.6 Country Spotlight: Mexico

        $323.00

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

    3. 3 Global Technology Trends

      $1,015.00

      1. 3.1 Product Development & Technology Focus

        $323.00

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

      2. 3.2 Industrial Internet of Things (IIoT)

        $649.00

        1. 3.2.1 Smart Technology Definition & Scope

          $323.00

        2. 3.2.2 Global Smart Technology Outlook

          $323.00

          1. Table | Smart Off-Road Machinery Demand by Type, 2019 - 2025

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

        3. 3.2.3 Autonomous Equipment

          $323.00

          1. Table | Key Advantages of Autonomous Off-Road Equipment

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

        4. 3.2.4 Predictive Maintenance

          $323.00

        5. 3.2.5 Global Positioning

          $323.00

        6. 3.2.6 Drones

          $323.00

          1. Table | Global Construction, Agricultural, &Mining Drone Demand, 2019 - 2025

          2. Figure 3-4 | Drones: Product Examples

      3. 3.3 Engine Technologies

        $323.00

        1. 3.3.1 Hybrids

          $323.00

        2. 3.3.2 All-Electric Equipment

          $323.00

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

      4. 3.4 Advanced Ergonomics & Operability

        $323.00

      5. 3.5 3D Printed Components

        $323.00

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

    4. 4 Construction Machinery

      $2,214.00

      1. 4.1 Demand Forecast by Region

        $323.00

        1. Table | Global Construction Machinery Demand by Region, 2019 - 2025

        2. Figure 4-1 | Global Construction Machinery Demand, 2003 - 2025

        3. Figure 4-2 | Global Construction Machinery Demand Outlook by Region, 2021 - 2025

      2. 4.2 Technology Focus 2021

        $1,974.00

        1. 4.2.1 Key Innovation Trends

          $323.00

          1. Figure 4-3 | Construction Machinery: Key Innovation Trends

        2. 4.2.2 Smart Technology Outlook

          $323.00

          1. Figure 4-4 | Smart Construction Machinery Demand, 2020 - 2025

        3. 4.2.3 Electric & Hybrid Engines

          $680.00

          1. Table | Electric Construction Machinery: Selected Products Available or in Development

        4. 4.2.4 Autonomous & Semi-Autonomous Machines

          $503.00

          1. Table | Autonomous & Semi-Autonomous Construction Machinery: Selected Products Available or in Development

        5. 4.2.5 Construction Drones

          $323.00

          1. Figure 4-5 | Construction Drones: Product Examples

        6. 4.2.6 Improved Handling & Ergonomics

          $565.00

          1. Table | Construction Machinery with Improved Handling & Ergonomics: Selected Products

    5. 5 Agricultural Equipment

      $1,711.00

      1. 5.1 Demand Forecast by Region

        $323.00

        1. Table | Global Agricultural Equipment Demand by Region, 2019 - 2025

        2. Figure 5-1 | Global Agricultural Equipment Demand, 2003 - 2025

        3. Figure 5-2 | Agricultural Equipment Demand Growth by Region, 2021 - 2025

      2. 5.2 Technology Focus 2021

        $1,450.00

        1. 5.2.1 Key Innovation Trends

          $323.00

          1. Figure 5-3 | Agricultural Equipment: Key Innovation Trends

        2. 5.2.2 Smart Technology Outlook

          $323.00

          1. Figure 5-4 | Smart Agricultural Equipment Demand, 2020 - 2025

        3. 5.2.3 Autonomous Tractors & Other Machinery

          $359.00

          1. Table | Autonomous Agricultural Equipment: Selected Products Available or in Development

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

        4. 5.2.4 Farming Robots

          $386.00

          1. Table | Farming Robots: Selected Products Available or in Development

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

        5. 5.2.5 Agricultural Drones

          $323.00

        6. 5.2.6 Precision Agriculture

          $323.00

        7. 5.2.7 Specialty Machines

          $454.00

          1. Table | Specialty Agricultural Equipment: Selected New Products

        8. 5.2.8 Data Systems

          $323.00

    6. 6 Mining Equipment

      $1,795.00

      1. 6.1 Demand Forecast by Region

        $323.00

        1. Table | Global Mining Equipment Demand by Region, 2019 - 2025

        2. Figure 6-1 | Global Mining Equipment Demand, 2003 - 2025

        3. Figure 6-2 | Mining Equipment: Demand Growth by Region, 2021 - 2025

      2. 6.2 Technology Focus 2021

        $1,545.00

        1. 6.2.1 Key Innovation Trends

          $323.00

          1. Figure 6-3 | Mining Equipment: Key Innovation Trends

        2. 6.2.2 Smart Technology Outlook

          $323.00

          1. Figure 6-4 | Smart Mining Equipment Demand, 2020 - 2025

        3. 6.2.3 Autonomous & Semi-Autonomous Mining Machinery

          $323.00

          1. Table | Autonomous Mining Equipment: Selected Products Available or in Development

        4. 6.2.4 Electric & Hybrid Mining Machinery

          $323.00

          1. Table | Electric & Hybrid Mining Equipment: Selected Products Available or in Development

        5. 6.2.5 Digital Mine Management

          $323.00

          1. Table | Digital Mine Management Technologies: Selected New Products

        6. 6.2.6 High Performance Equipment

          $601.00

          1. Table | Mining Equipment: Selected New Products

        7. 6.2.7 Mining Drones

          $323.00

    7. 7 Forestry Equipment

      $1,218.00

      1. 7.1 Demand Forecast by Region

        $323.00

        1. Table | Global Forestry Equipment Demand by Region, 2019 - 2025

        2. Figure 7-1 | Global Forestry Equipment Demand, 2003 - 2025

        3. Figure 7-2 | Forestry Equipment: Demand Growth by Region, 2021 - 2025

      2. 7.2 Technology Focus 2021

        $970.00

        1. 7.2.1 Key Innovation Trends

          $323.00

          1. Figure 7-3 | Forestry Equipment: Key Innovation Trends

        2. 7.2.2 Smart Technology Outlook

          $323.00

          1. Figure 7-4 | Smart Forestry Equipment Demand, 2020 - 2025

        3. 7.2.3 Fuel Efficiency & Lower Emissions

          $323.00

          1. Table | Fuel Efficient & Low Emissions Forestry Equipment: Selected New Products

        4. 7.2.4 Improved Handling & Operator Comfort

          $492.00

          1. Table | Forestry Equipment with Improved Handling or Operator Comfort: Selected Products

        5. 7.2.5 Advanced Software & Remote Monitoring

          $323.00

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

        6. 7.2.6 Winch-Assist Technologies

          $323.00

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

    8. 8 Manufacturer Spotlight

      $478.00

      1. 8.1 Leading Global Suppliers

        $323.00

      2. 8.2 Caterpillar

        $323.00

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

      3. 8.3 CNH Industrial

        $323.00

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

      4. 8.4 Deere

        $323.00

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

      5. 8.5 Hitachi

        $323.00

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

      6. 8.6 Komatsu

        $323.00

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

      7. 8.7 Kubota

        $323.00

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

      8. 8.8 Liebherr-International

        $323.00

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

      9. 8.9 Sandvik

        $323.00

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

    9. 9 Appendix

      $3,924.00

      1. 9.1 Scope

        $818.00

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

        2. Table | Relevant NAICS & SIC Codes

        3. Table | Relevant HS Codes

        4. Table | Relevant NACE Codes

      2. 9.2 Definitions

        $323.00

      3. 9.3 Abbreviations

        $323.00

        1. Table | Abbreviations & Acronyms Used in Study

      4. 9.4 Freedonia Methodology

        $426.00

      5. 9.5 Study-Specific Methodology

        $323.00

      6. 9.6 Sources

        $323.00

      7. 9.7 Associations & Agencies

        $323.00

      8. 9.8 Related Studies & Reports

        $323.00

      9. 9.9 Country Lists by Region

        $447.00

        1. Table | Countries in North America

        2. Table | Countries in Central & South America

        3. Table | Countries in Western Europe

        4. Table | Countries in Eastern Europe

        5. Table | Countries in the Asia/Pacific Region

        6. Table | Countries in the Africa/Mideast Region

      10. 9.10 Macroeconomic Assumptions

        $2,516.00

        1. 9.10.1 Global Economic Outlook

          $492.00

          1. Table | Global Gross Domestic Product by Region & Country, 2010 - 2025

        2. 9.10.2 Global Population

          $524.00

          1. Table | Global Population by Region & Country, 2010 - 2025

        3. 9.10.3 Global Construction Outlook

          $522.00

          1. Table | Global Construction Expenditures by Region & Country, 2010 - 2025

        4. 9.10.4 Global Manufacturing Outlook

          $974.00

          1. Table | Global Manufacturing Value Added by Region & Country, 2010 - 2025

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