Off-Road Equipment Market

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Demand for Electric Machines to Assertively
Influence Off-Road Equipment Market Growth
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Market Highlights Off-road equipment are those
that support vehicles performing on, above, or
below the ground but not on the road. These
equipment varies from mining to lawn mowing. This
huge array also makes it easy for the global
off-road equipment market achieve a 4 CAGR
during the forecast period (2019-2025). Market
Research Future (MRFR) in their latest report on
the market said that this attainment could lead
to a substantial rise in market valuation for the
off-road equipment market. The off-road equipment
market is getting backed by stringent government
regulations that are ensuring engine efficiency
and fuel emissions. At the same time, the growing
urbanization is creating scope for such equipment
to percolate daily lives to complement the hike
in daily labor charges. At the same time,
eco-friendly awareness is pushing forward the
demand for bio-friendly parts which is expanding
the off-road equipment market possibilities by
creating investment opportunities in the research
and development sector. Report Sample
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Segmentation Based on the machinery type, the
off-road equipment market can be segmented into
farm tractors, excavators loaders, harvesters
forwarders, metals minerals mining machinery,
planting fertilizing equipment, and others. The
excavators loaders machinery type segment has
the potential to take charge of the market both
in terms of volume and values during the forecast
period. The farm tractors segment is doing
extraordinarily in agrarian countries. Based on
the end-use industry, the off-road equipment
market can be segmented into agriculture,
construction, forestry, mining, and others. The
construction segment has the potential to
dominate the market throughout the forecast
period. At present, it has the command over the
market both in terms of volume and value.
Meanwhile, the mining segment is also making
substantial progress due to the rapid cases of
industrialization. Browse Complete Report
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Regional Analysis North America, Europe,
Asia-Pacific (APAC), and the Rest-of-the-World
(RoW) are the regions that have been encompassed
by the global off-road equipment market report
made by MRFR for a better geographical
analysis. The report aims at highlighting issues
on a demographic scale to enhance the predictive
analysis for the upcoming years. The APAC market
is dominating the global field as several global
players are showing interest in establishing
their manufacturing units in the region due to
the cost-effective labor. At the same time,
emerging economies like India and China are two
countries to impact the regional market the most.
North America is also showing great progress in
the market due to the presence of several
industries and their outstanding progress. The
regional market is feeling blessed with
remarkable inputs from construction industry. The
roundwood production in the region could revive
the stagnant market of the forestry segment.
Europe has made its name as the manufacturing hub
of such equipment and is supplying products for
several industries like construction, mining and
forestry. South Americas progress can be charted
by mapping the involvement of Brazil in the
segment.
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Intended Audience Off-road equipment
manufacturers Off-road vehicle manufacturers
Off- road vehicle technology providers End-use
industries Manufacturers and distributors of
raw materials Heavy duty vehicle parts
suppliers Exporters, dealers, and
distributors Heavy equipment leasing and
renting companies
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Key players Several influential players are
implementing extensive strategies to seek
personal growth. But in the process, they are
also influencing the off-road equipment market as
a whole. These companies, as enlisted by MRFR in
their report, are Kubota Corporation (Japan),
Caterpillar Inc. (US), Hitachi Construction
Machinery (Japan), CNH Industrial N.V. (US),
Komatsu Ltd (Japan), Deere Company (US), Blount
International, Inc. (US), Sandvik AB (Sweden),
The Liebherr Group (Germany), and Doosan
Infracore (South Korea). In March 2019, Michelin
announced that their business grew by 9.3 and
reached around USD 6.4 billion during the last
financial year. In this achievement contributions
were also made by specialty tire section where
mining tires section have grown significantly
despite the troubles it faced due to the supply
chain issues. It has also acquired Camso and
merged its off-road businesses.
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