How big is the Off-Highway Equipment Market | Manufacturers and Suppliers 2025

What is the size of Off-Highway Equipment Market?

According to 6Wresearch internal database and industry insights, the Off-Highway Equipment Market was valued at USD 3.2 Billion in 2024 and is expected to reach USD 5 Billion by 2031, growing at a CAGR of 5.30% during 2025-2031.

The primary forces behind the growth of the market are increasing infrastructure spending, more urban development, and the rising adoption of advanced construction and mining equipment to improve efficiency and productivity.

Growth Drivers of Off-Highway Equipment Market

• Increasing infrastructure and road development projects in emerging economies
• Increasing demand for low-emission and fuel-efficient construction equipment
• Adoption of telematics and automation technology to enhance equipment performance
• Growing mining activities that require market-related excavation and hauling solutions
• Growth of rental and leasing opportunities for construction and agricultural gear

Off-Highway Equipment Market Trends

The market trends suggest a shift toward automation, electrification, and connected machinery. Advanced driver assistance systems, GPS tracking, and remote diagnostics are increasingly adopted, reducing downtime and enhancing productivity.

Hybrid and electrically operated powertrains are gaining popularity due to lower emissions and operating costs. Manufacturers are also introducing modular designs and prioritizing operator safety to meet evolving standards and end-user requirements.

Emerging Developments in the Off-Highway Equipment Market

The sector is witnessing innovations in electric propulsion systems and hybrid engines, addressing emission concerns while delivering high performance. Companies are also investing in autonomous equipment for hazardous and repetitive construction and mining tasks.

Integration of predictive maintenance systems and machine learning algorithms is under exploration to minimize failure rates and extend machine life. Advances in hydraulic systems and lightweight materials are further enabling efficient, durable machinery.

List of Leading Companies in the Off-Highway Equipment Market

Below is a comprehensive list of the leading market players driving growth in this sector:

1. Caterpillar Inc.

Caterpillar is a leading manufacturer of construction and mining equipment, offering durable and advanced off-highway machinery.

2. Komatsu Ltd.

Komatsu provides construction and mining equipment with integrated automation and telematics systems.

3. Volvo Construction Equipment

Volvo CE develops off-highway equipment focused on fuel efficiency, productivity, and operator safety.

4. Deere & Company

Deere manufactures off-highway equipment for construction and forestry, known for precision and durability.

5. Hitachi Construction Machinery

Hitachi produces a range of off-highway equipment, including excavators and loaders with smart control technologies.

6. CNH Industrial

CNH Industrial delivers construction and agricultural machinery under brands like Case and New Holland.

7. Liebherr Group

Liebherr manufactures high-performance off-highway equipment for construction, mining, and material handling.

8. Doosan Infracore

Doosan specializes in construction equipment such as excavators, wheel loaders, and articulated dump trucks.

9. JCB Ltd.

JCB designs and manufactures a broad range of off-highway machinery including backhoe loaders and compact track loaders.

10. Terex Corporation

How big is the Off-Highway Equipment Market : FAQ's