Global Off-Road Equipment Technology 2021
Global demand for off-road equipment – including construction, agricultural, mining, and forestry machinery – is forecast to rise 5.4% to $439 billion in 2021 as the effects of the COVID-19 pandemic recede, and then increase 3.8% annually through 2025. Following a sharp decline in 2020 as demand plummeted in key sectors – particularly mining, which was deemed “non-essential” in key markets such as Mexico, forcing operations to idle for several months – growth will be boosted by investment in new and replacement machines featuring state-of-the-art technologies designed to help customers improve efficiency and productivity.
The report covers the global market for off-road equipment technology by type (construction, agricultural, mining, forestry) and global region in US dollars. Growth for smart off-road equipment technology and drones are also provided. Additionally, key technology trends and leading country markets are analyzed.
Scope of the Report
This report covers the scope, size, and growth of the global market for off-road equipment technology, including key trends in products, technology, and regions. Historical data are provided for 2019 and 2020 with forecasts for 2021 and 2025 in current US dollars.
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