Profiles of the Top 5 Global Off-Highway Equipment OEMs and Growth Opportunities

Profiles of the Top 5 Global Off-Highway Equipment OEMs and Growth Opportunities

Off-highway equipment is used in mining, construction, forestry, agriculture, and energy and transportation applications. Many manufacturers compete for market share, but John Deere, AGCO Corporation, CNH Industrial, Caterpillar, and Komatsu are the dominant players. These companies have a strong presence in many markets and offer a range of products including tractors, combines, large excavators, dump trucks, and forestry equipment. An industry trend is the development of more sustainable and efficient machines, with an increasing focus on reducing emissions and improving fuel efficiency. This trend is driving innovation, with manufacturers developing new technologies such as electric and autonomous machines.

Frost & Sullivan expects major innovations in the off-highway equipment industry to happen in the fields of precision agriculture, electrification, automation/robotics, new business model transformation, and autonomous solutions. OEMs and technology providers have developed connectivity devices, artificial intelligence, and other solutions for off-site tracking, monitoring, and control to prepare for more connected and sustainable operations.