Undercarriage components are the supporting frameworks present underneath a vehicle or heavy machinery. These components are assembled to enable the machine to work on any type of terrain depending on the operation.
Increasing production of heavy machinery across the mining, agriculture, and construction industries is expected to bolster the demand for undercarriage components. Governments of various countries are also investing huge sums in the development of public infrastructure.
As per the National Projects Construction Corporation Limited (NPCC), at present, around 27 public infrastructure construction activities are taking place in India. Similarly, the Associated General Contractors of America (AGC) mentions that the construction industry in the U.S. develops about $1.4 trillion worth of structures annually. The industry is a major contributor to the country’s economy.
Hence, increasing application of undercarriage components within construction industry across emerging economies such as India, China, Japan, and South Korea, is expected to boost the growth in the market.
To Remain ‘Ahead’ Of Your Competitors, Request For A Sample @
https://www.factmr.com/connectus/sample?flag=S&rep_id=1623
“Increasing usage of undercarriage components in dozers for commercial construction activities is expected to augment the growth in this market in the near future. Subsequently, rapid pace of economic diversification in emerging economies is also set to drive the market,” says a Fact.MR analyst.
Key Takeaways:
- Based on equipment, the crawler excavators segment is set to hold more than 33% of the market share owing to the development of high value service industries.
- In terms of region, East and South Asia are likely to account for 46% of the market share.
- Middle East & Africa is anticipated to grow at a steady pace in the global undercarriage components market.
- By end-user, the construction segment is projected to hold the lion’s share on the back of the increasing number of residential and commercial projects.
- In terms of component type, the track chains segment is expected to dominate the market, contributing for over 24% of total sales
Growth Drivers:
- Increasing advancements in the designs of undercarriage components to make these highly efficient and durable are set to drive the market.
- Rising construction of highways and commercial buildings, and expansion of airports is anticipated to propel the growth in the market.
- Increasing utilization of undercarriage components by crawler excavators for the purpose of complex construction operations is likely to boost the market.
For customization of report: https://www.factmr.com/connectus/sample?flag=RC&rep_id=1623
Restraints:
- Availability of cost-effective counterfeit undercarriage components may limit the sales of products from renowned players.
To learn more about Undercarriage Components Market, you can get in touch with our Analyst at
https://www.factmr.com/connectus/sample?flag=AE&rep_id=1623
Competitive Landscape:
The undercarriage components market players are focusing on launching new construction equipment and their innovative components to extend their product portfolios.
Key Players in the Undercarriage Components Market Include:
- Caterpillar Inc.
- Deere & Company
- ThyssenKrupp AG
- AB Volvo
- Komatsu Ltd.
- Hitachi Construction Machinery
- Trackline Ltd.
- Renomag
- Berco S.p.A.
- Appletree Global Ltd (ATG)
- DRB Holdings
- Titan International, Inc.
More Valuable Insights on Undercarriage Components Market:
Fact.MR provides an unbiased analysis of the undercarriage components market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the global undercarriage components market with a detailed segmentation on the basis of:
Component Type
- Track Rollers/ Carrier Rollers
- Track Chains
- Idlers & Sprockets
- Track Shoes/ Rubber Tracks
- Other Components (Bushings, Seals, etc.)
Equipment
- Crawler Excavators
- Mini Excavators
- Dozers
- Track Loaders
- Compact Track Loaders
- Crawler Cranes
End-Use
- Construction
- Mining
- Agriculture & Forestry
Sales Channel
- OEMs
- Aftermarket
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
Key Questions Covered in Undercarriage Components Market Report
- The report offers insight into the undercarriage components market demand outlook for 2020-2030.
- The market study also highlights projected sales growth for undercarriage components s market between 2020 and 2030.
- Undercarriage components market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Undercarriage components market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
Speak to the Experts: https://www.factmr.com/connectus/sample?flag=AE&rep_id=1623
Explore Fact.MR’s Coverage on the Automotive Domain –
Crawler Cranes Market Forecast – Crawler cranes are employed in a variety of construction projects, including commercial, industrial, infrastructure, and residential. Due to the installation of strict lockdowns, the global construction sector endured a pause during the COVID-19 pandemic, lowering prospects dramatically. Fortunately, this effect was short-lived, as economies began to recover following the epidemic, recovering crawler crane demand predictions to a large extent between 2021 and 2031.
Dozer Market Insights – Growing urban populations throughout the world have resulted in a surge in demand for better infrastructure, which is being met by the introduction of modern earthmoving equipment such as dozers that require less maintenance and are fitted with environmentally friendly features. Rapid globalization is predicted to create a favorable environment for attracting foreign direct investment, with more consumer disposable income opening the door to increased infrastructure spending around the world. Dozers will be in higher demand as a result of this.
Excavator Market Analysis – As the heavy construction equipment industry recovers from a major recession, demand for excavators will increase. The excavator market is predicted to increase gradually in the future, owing to the good growth of the construction sector, particularly in developing countries. Excavators are employed in a variety of industries, such as construction, mining, agriculture, and forestry. Excavator manufacturers are working on delivering performance features that will meet the needs of end-users in the construction industry in order to take advantage of the growing demand for excavators as construction equipment.
About Fact.MR
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: sales@factmr.com
Visit Our Website: https://www.factmr.com
