ACROFAN

Global Off-Road Equipment Technology Market Report 2022-2026: Demand for Smart Off-Road Technology to Climb Six Times Faster than Total Equipment Sale

Published : Thursday, July 14, 2022, 7:22 am
ACROFAN=Businesswire | webmaster@businesswire.com | SNS

DUBLIN--(BUSINESS WIRE)--The "Global Off-Road Equipment Technology 2022-2026" report has been added to ResearchAndMarkets.com's offering.


Global demand for off-road equipment is forecast to rise 5.5% between 2021 and 2022 to $481 billion, slightly above 2019 levels. Overall growth will be bolstered by investment in new and replacement machinery featuring state-of-the-art technologies, many of which are designed to improve efficiency and productivity.

These include:

  • Autonomous and semi-autonomous equipment, such as robots
  • Fuel efficient and low- or zero-emission equipment
  • Units with advanced ergonomics that provide improved operator comfort and safety
  • Drones, global positioning, predictive maintenance, and other solutions made possible by developments in the Industrial Internet of Things (IIoT)

Demand for Smart Off-Road Technology to Climb Six Times Faster than Total Equipment Sales

Smart off-road equipment sales are projected to grow 35% in 2022 and then more than double by 2026, when they will account for nearly 5% of all off-road equipment demand. Construction is currently the largest market for smart equipment, although demand will expand most quickly in the mining sector (which is expected to become the leading market for smart off-road equipment technology by 2026) as operators increasingly use advanced technologies - such as autonomous equipment and digital mine management solutions - to lower costs and boost output.

Rising Labor Costs & Tightening Emissions Standards Drive Purchase of Advanced Equipment

High production costs and labor shortages mean that advanced off-road equipment is typically most cost-effective in high-income countries such as Australia, Canada, Germany, and the US. Use of state-of-the-art technology will remain limited in lower- and mid-income nations, where profits are less influenced by labor costs and emissions standards are generally less stringent. The mining industry is a notable exception, since many of the world's largest mines - which are operated by multinational companies that can afford advanced, high-end machinery - are located in lower-income countries.

China Has an Outsized Impact on Global Demand for Off-Road Equipment

China is by far the largest consumer of off-road equipment, accounting for 31% of demand in 2021. The country is forecast to represent 26% of global absolute gains in 2022. However, opportunities will differ between the major markets:

  • Mining and agriculture will see solid growth as these markets continue to recover from the pandemic-related declines in 2020.
  • Construction will advance more slowly from a high base, as the market for this equipment posted significant gains in 2020, when a combination of strong government spending and China's ability to mitigate negative economic effects from the pandemic's initial phase spurred investment in new and replacement construction equipment.

As a result of these trends, the global construction machinery market is expected to decelerate in 2022, while the mining machinery and agricultural equipment markets will continue to grow at a rate similar to 2021.

Key Topics Covered:

1. Executive Summary

2. Impact of COVID-19 Pandemic

  • COVID-19 General Trends
  • Impact on the Economy
  • Impact on the Construction Industry
  • Impact on the Off-Road Equipment Industry

3. Regional Outlook

  • Off Road Equipment Market Size & Outlook by Region
  • Growth Comparison by Country
  • Demand by Equipment Type
  • Country Spotlight: United States
  • Country Spotlight: Australia
  • Country Spotlight: India

4. Global Technology Trends

  • Product Development & Technology Focus
  • Industrial Internet of Things (IIoT)
  • Smart Technology Trends
  • Smart Technology Definition & Scope
  • Global Smart Equipment Outlook
  • Autonomous Equipment
  • Predictive Maintenance
  • Global Positioning
  • Drones
  • Advanced Software & Data Collection Technologies
  • Engine Technologies
  • Hybrid Engines
  • All-Electric Engines
  • Advanced Ergonomics, User Friendliness & Operability

5. Construction Machinery

  • Scope & Product Description
  • Demand by Region
  • Technology Focus 2022
  • Key Innovation Trends
  • Smart Technology Outlook
  • Electric & Hybrid Engines
  • Autonomous & Semi-Autonomous Machines
  • Construction Drones
  • Improved Handling & Ergonomics

6. Agricultural Equipment

  • Scope & Product Description
  • Demand by Region
  • Technology Focus 2022
  • Key Innovation Trends
  • Smart Technology Outlook
  • Autonomous Tractors & Other Machinery
  • Farming Robots
  • Agricultural Drones
  • Precision Agriculture
  • Specialty Machines
  • Data Systems

7. Mining Equipment

  • Scope & Product Description
  • Demand by Region
  • Technology Focus 2022
  • Key Innovation Trends
  • Smart Technology Outlook
  • Autonomous & Semi-Autonomous Mining Machinery
  • Electric & Hybrid Mining Machinery
  • Digital Mine Management
  • High Performance Equipment
  • Mining Drones

8. Forestry Equipment

  • Scope & Product Description
  • Demand by Region
  • Technology Focus 2022
  • Key Innovation Trends
  • Smart Technology Outlook
  • Fuel Efficiency & Lower Emissions
  • Improved Handling & Operator Comfort
  • Advanced Software & Remote Monitoring
  • Winch-Assist Technologies
  • Forestry Drones

9. Manufacturer Spotlight

  • Leading Global Suppliers
  • AGCO
  • Caterpillar
  • CNH Industrial
  • Deere
  • Hitachi
  • Komatsu
  • Liebherr-International
  • Sandvik
  • Tigercat

For more information about this report visit https://www.researchandmarkets.com/r/mgbnt

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900



Copyright © acrofan/Business Wire All Right Reserved


    Acrofan     |     Contact Us : guide@acrofan.com     |     Contents API : RSS

Copyright © Acrofan All Right Reserved