Sustainability Targets and a Looming Energy Crisis Will Affect Electrification and Digitization
Sustainability targets and the requirement to reduce operational costs, maintenance costs, and equipment downtime have increased the need for synergies across the off-highway value chain in Europe. The requirement for electric charging and hydrogen fuel infrastructure increases and the need to digitize processes becomes more urgent, thus pushing toward collaborations between OEMs, suppliers, utility companies, and software solution providers.
The European off-highway equipment market was valued at $56.8 billion in 2021 with the construction and mining equipment market taking a larger share of 53.4%. Caterpillar, John Deere, CNH, and AGCO currently lead the off-highway market with combined revenue contributing to a share of 46.6%. Collaboration between industry stakeholders will produce datasets to further enhance convenience and processes. Company-wide sustainability targets will increase investment in electric powertrains and renewable energy sources, which will drive the adoption of hybrid and electric machinery across all three off-highway applications. Additionally, the expansion of rental companies and peer-to-peer (P2P) shared platforms will further increase the demand for fleet management and remote monitoring services.
Table of Contents
1. 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™
- Findings
- Off-highway Equipment Market Overview
- European Off-highway Ecosystem - Key Competitors
- Scope of Analysis
- Market Segmentation
- Growth Drivers
- Growth Restraints
- Economic Environment - Gross Domestic Product (GDP) Growth
- Economic Environment - Construction Spending
- Economic Environment - Total Mine Production
- Economic Environment - Agricultural Acreage
- GHG Protocol (GHGP) Overview
- The European Green Deal
- Off-highway - Municipal and National Initiatives
- Restraints to Global GDP Growth, 2022-2023
- 2022-2023 Scenario Analysis - Assumptions
- The Euro Area - GDP Growth Outlook by Scenario
- The Euro Area - GDP Growth Outlook by Scenario
- Construction and Mining Equipment - Market Overview
- Agricultural Equipment - Market Overview
- Competitive Environment
- OEM Market Share
- Revenue Share Analysis
- Connected Off-highway Equipment
- Trends Affecting the Connected Off-highway Market in EU5 countries
- The Right-to-repair Status in Europe
- Connected OHV Equipment Features in Demand
- Installed Base Forecast by Segment
- Revenue Forecast
- Autonomous Off-highway Ecosystem
- EU Member States’ Autonomous Off-highway Initiatives
- UK Autonomous Off-highway Initiatives
- OEM Launch Roadmap - Europe
- Autonomous Equipment in Operation
- Off-highway Powertrain Segments - Market Overview
- Hybrid and Battery-electric Product Launches (per Year) Overview
- Hybrid Equipment Launches - 2009 to 2018
- Hybrid Equipment Launches - 2018 to 2023
- Electric Equipment Launches - 2016 to 2019
- Electric Equipment Launches - 2019 to 2021
- Electric Equipment Launches - 2019 to 2022
- Electric Equipment Launches - 2022 and 2023
- Hybrid and Electric Equipment Unit Sales and Equipment in Operation
- Rental Equipment Trends
- Growth Metrics - Europe
- Europe - Rental Market Revenue Forecast
- Growth Metrics
- Revenue Forecast Europe
- Construction and Mining Equipment - Unit Sales
- Agricultural Equipment - Unit Sales
- Construction and Mining Equipment - Equipment In Operation
- Agricultural Equipment - Equipment In Operation
- Construction and Mining - Regional Unit Sales
- Construction and Mining - Regional Equipment In Operation
- Agricultural Equipment - Regional Unit Sales
- Agricultural - Regional Equipment In Operation
- Forecast Methodology
- Forecast Discussion
- Growth Opportunity 1 - Sustainability Focus Leading to Alternate Powertrains
- Growth Opportunity 2 - Opportunity Identification Across Connected Solutions
- Growth Opportunity 3 - New Business Models For Equipment-as-a-Service
- Your Next Steps
- Why Frost, Why Now?
- List of Exhibits
- Legal Disclaimer
