The off-highway equipment industry is becoming highly technology-oriented amid labor shortages, conditions arising from the COVID-19 pandemic, and increasing demand for productivity in agriculture, construction, and mining. These challenges drive market players to enhance their product portfolios with digitization, connectivity and telematics solutions, electrification and alternate powertrains, alternate fuels, autonomous operations, IoT, and sensor technology, offering customers smarter and greener solutions with room for automation and enabling market participants to sustain their businesses.
Frost & Sullivan highlights markets recovering faster from the pandemic impact in this report, along with reasons for the same. India, China, the United States, and Europe are the regional focus in this global research. This report profiles top original equipment manufacturers (OEMs) in the off-highway equipment industry specializing in the construction and mining, and agriculture sectors. For this research, we selected John Deere and AGCO from the agriculture segment, Caterpillar and Komatsu from the construction and mining segment, and CNH Industrial, with a portfolio in agriculture and construction.
The study provides detailed analyses on company profiles, product capabilities, technological solutions, competitive advantage in global regions, revenue shares, regional market shares, advanced technology in practice and testing phases, and the spending on research and development (R&D) as a share of the total revenues. Through this report, Frost & Sullivan offers stakeholders an understanding of top companies’ operations in various regions and clarity in making initiatives toward growth in the respective regions and product segments.