(MENAFN- GlobeNewsWire - Nasdaq) New York, May 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Off-highway Equipment Sector Outlook, 2023" -
This study provides an analysis of the global off-highway equipment sector with focus on the construction, mining, and agriculture segments.
Discussions include predictions for 2023, major market trends, market measurements by region, (United States, Europe, Asia [India and China], and the Rest of World), and top growth opportunity areas.
In 2023, the analyst expects OEMs, suppliers, and dealerships to expand the capabilities of their online offerings, such as service support, parts availability and management, and on-demand delivery.
The challenges that emerged from longer lead times since the COVID-19 pandemic in terms of parts and equipment procurement are creating opportunities for alternate sourcing methods that are cost-effective and efficient in addressing aftermarket and service requirements.
Ad-hoc job cycles in construction, customer demand for retail to enhance the monitoring of agricultural practices, and fleet owner preferences to reduce operation and maintenance costs and cut down on equipment deadtime will all drive the adoption and integration of telematics and IoT in off-highway applications.
Also, retrofit solutions will emerge as cost-effective alternatives to market-ready solutions in the short and medium terms.
Solution providers will partner with financing institutions to help customers purchase retrofits through subscription models and flexible financing.
Bundled services and stand-alone products with retrofit kits will also drive market growth.
Author: Krishna Achuthan
Read the full report:
About reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
MENAFN26052023004107003653ID1106325415
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.