세계의 오프 하이웨이 장비 업계 전망(2025년)

Shifting Customer Behaviors Spurred by Economic Uncertainties Will Drive Collaboration Among Stakeholders

Economic uncertainties caused by the Russo-Ukraine conflict and trade wars have significantly affected OEM operations, supplier confidence, and consumer purchase decisions in the off-highway equipment industry. While these challenges are expected to delay economic recovery, government investment programs, subsidies, and bilateral trade agreements are expected to initiate a gradual market recovery.

The global scenario is anticipated to push price-sensitive customers to resort to alternative equipment utilization, such as rentals. OEMs that announced plans to launch manufacturing plants in the United States are expanding capacities to sustain growth and trade relations. However, the positive impact on sales is projected in the medium to long term.

Bilateral trade agreements and the strengthening of trade between countries such as Brazil-Mexico, Canada-Europe, and India-Europe are likely to drive expansion and collaboration among stakeholders. Globally, low to moderate growth is expected in the off-highway equipment market as several marketplace trends push the industry in a positive direction.

The evolution of digital solutions, machine control technologies, and real-time access to key machine information across the construction value chain will improve purchasing confidence among contractors. A digitally connected marketplace in the construction and mining industries will be a key driver for construction and mining equipment sales worldwide.

The study period is 2024-2025, with 2024 as the base year and 2025 as the forecast period. The practice areas are construction, mining, and agricultural equipment. The six regions covered are the United States, Latin America, Europe, Asia (India and China), Australia, and the Rest of the World.

The Impact of the Top 3 Strategic Imperatives on the Off-Highway Equipment Industry

Geopolitical Chaos

• Why
• Economic uncertainties caused by the Russo-Ukraine conflict and trade wars have significantly affected OEM operations, supplier confidence, and consumer purchase decisions.
• While these challenges are expected to delay economic recovery, government investment programs, subsidies, and bilateral trade agreements are likely to initiate a gradual market recovery.
• Frost Perspective
• OEMs that announced plans to launch manufacturing plants in the United States are expanding capacities to sustain growth and trade relations. However, the positive impact on sales is expected in the medium to longer term.
• Bilateral trade agreements and the strengthening of trade between countries, such as Brazil-Mexico, Canada-Europe, and India-Europe, are anticipated to drive expansion and collaboration among stakeholders.

Industry Convergence

• Why
• Off-highway industry stakeholders will likely adopt measures to counter short-term challenges.
• Cost-conscious buyers and a double-digit decline in unit sales in key markets will push stakeholders to bundle services and form partnerships with cross-industry participants.
• Frost Perspective
• Partnerships between OEMs, suppliers, start-ups, financial institutions, and rental companies will support further expansion and sustain growth.
• Vertical integration will broaden the product portfolio and enable one-stop solutions for end customers.

Competitive Intensity

• Why
• New technologies are continuously impacting the industry in fields such as electrification and automation.
• Decarbonization, connectivity, and an omnichannel approach have brought in a wave of both new and cross-industry participants that are disrupting the off-highway ecosystem.
• Frost Perspective
• Strategic synergies are expected to offer low-cost solutions to alleviate customer hesitance.
• Acquisitions and joint ventures between OEMs and solution providers, as well as OEMs and contractors, respectively, will surge in the short term to secure growth in specific applications.

Table of Contents

Analysis Highlights

• Off-highway equipment unit sales
• Off-highway equipment in operation EIO
• Original equipment manufacturer OEM revenue by region
• Demand metrics for top trend areas in focus
• Compact equipment demand
• Proliferation of connected solutions
• Rental equipment demand
• Pursue business expansion through rental channels
• Explore compact equipment demand
• Implement decarbonization initiatives in mining
• Focus on alternate powertrains
• Retrofitting autonomous and electric

Research Overview

• Study period
• Practice Areas
• Geographic Scope
• Base year
• Forecast period

The 2024 Off-Highway Equipment Industry: Forecast vs. Actual

Top 5 Predictions for 2025

• Equipment versatility, total cost of ownership, and easier transportation
• Proliferation of connectivity across the value chain
• Decarbonization in construction and mining
• Synergies across multiple verticals
• Rental equipment utilization

Notable Acquisitions in 2024

Key OEM/Supplier Partnerships

Strategic Imperatives

• Why Is It Increasingly Difficult to Grow?
• The Strategic Imperative 8
• The Impact of the Top 3 Strategic Imperatives on the Off-Highway Equipment Industry
• Growth Opportunities Fuel the Growth Pipeline Engine

Research Scope

• Segmentation
• Growth Environment
• Revenue Growth by Region

Macroeconomic Factors

• Overview of Global Trends
• Top 10 Growth Opportunities
• Top 10 Trends for 2025
• Global GDP Growth Snapshot
• Trend 1: Global GDP Growth
• Growth Opportunity 1: Global GDP Growth
• Trend 2: Inflation and Interest Rates
• Growth Opportunity 2: Inflation and Interest Rates
• Trend 3: Oil Markets
• Growth Opportunity 3: Oil Markets
• Trend 4: Labor Market
• Growth Opportunity 4: Labor Market
• Trend 5: US Dollar and Gold
• Growth Opportunity 5: US Dollar and Gold
• Trend 6: North America
• Growth Opportunity 6: North America
• Trend 7: Latin America
• Growth Opportunity 7: Latin America
• Trend 8: Western Europe
• Growth Opportunity 8: Western Europe
• Trend 9: Middle East
• Growth Opportunity 9: Middle East
• Trend 10: Asia
• Growth Opportunity 10: Asia
• List of Countries by Region, 2025

Top Trends

• Trend 1: Compact Equipment Demand
• Trend 2: Proliferation of Connected Solutions
• Trend 3: Rental Equipment Demand
• Trend 4: Focus on Alternate Powertrains
• Trend 5: Retrofitting Autonomous and Electric
• Impact of Trends by Region

Market Metrics

• Unit Sales by Region
• Revenue Forecast by Segment
• Equipment in Operation by Region

Regional Analysis: The United States

• The United States
• Vendor Analysis

Regional Analysis: Latin America

• Latin America
• Vendor Analysis

Regional Analysis: Europe

• Europe
• Vendor Analysis

Regional Analysis: APAC

• China
• India
• Agricultural Tractor Vendor Analysis: India
• Australia
• Vendor Analysis: Asia-Pacific and the Rest of the World

Conclusions and Future Outlook

Growth Opportunity Universe

• Growth Opportunity 1: Pursue Business Expansion Through Rental Channels
• Growth Opportunity 2: Explore Compact Equipment Demand
• Growth Opportunity 3: Implement Decarbonization Initiatives in Mining

Appendix & Next Steps

• Benefits and Impacts of Growth Opportunities
• Next Steps
• List of Exhibits
• Legal Disclaimer