Top 10 for 2023: Predictions for the Off-highway Equipment Industry

Frost & Sullivan’s mobility team tracks the global off-highway (OHW) equipment industry, providing deep-dive analysis of the shift toward equipment-as-a-service models and the implications of new technologies on the transportation landscape of the future.The OHW practice evaluates applications in the construction, mining, agriculture, forestry, and industrial sectors.

This study offers a glance at Frost Sullivan’s the top 10 predictions for 2023 in the OHW equipment industry, including key trends related to evolving customer requirements and a fluid macro-economic scenario. Also included are technological trends spurred by the demand for greater convenience, flexibility, and affordability as well as competitive trends shaped by the need to boost innovation through portfolio expansion and strategic partnerships.

A new wave of competition from start-ups and digital business models is challenging the standing conventions, compelling established industries to re-think their competitive stance. Concerns about operational costs and equipment downtime are pushing demand for connected services. Digital services that monitor site and equipment operations will propel growth for telematics and site management platforms. This transformation will require OEMs and suppliers to collaborate to promote omnichannel strategies, which will be well supported by growth in eRetail, on-demand services, and 24/7 operator assistance. Accumulation of equipment and site data will invite additional services in farm and mine management platforms that effectively utilize data.

Author: Krishna Achuthan