The arena for commercial infrastructure has been highly influenced by urbanization. The swelling emphasis towards expansion of high value service industries merged with economic diversification has motivated the incorporation of earth moving equipment like crawler excavators. Therefore, the adoption of undercarriage components which are used in crawler excavators as well as dozers centered across commercial infrastructure is gaining highest prominence. In addition, the mining industry has been interested to acquire advanced undercarriage components, which has propitiously backed the global undercarriage components market in the recent past. Fact.MR has recently published a new assessment that discreetly investigates the highs and lows of the global undercarriage components market to present an insightful forecast analysis. This study is titled “Undercarriage Components Market Forecast, Trend Analysis & Competition Tracking - Global Market insights 2018 to 2028”, which discourses various facets including market value, volume, Y-o-Y growth and market attractiveness. The report also covers wider perceptions associated to absolute dollar opportunity, supply chain analysis, value chain assessment and Porter’s five forces model.
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The expediency of undercarriage components in the construction industry is marked as a primary reason back the growing construction projects at the global scenario. For example, construction of new highways, dams as well as expansion of airports are projected to amplify demand for construction and earth moving equipment, thereby, supporting the sales of undercarriage components. The report exhibits that demand for undercarriage components is estimated to boost at a steady CAGR of 3.2% during the forecast period, 2018-2028. Amusingly, sales of undercarriage components is forecasted to cross US$ 10,800 Mn by the end of this year, indicating a positive track for improved market status.
Propagation of Track Shoe Undercarriage Components Expected to Enhance Sales
According to this Fact.MR investigation, demand for track shoe/rubber tracks undercarriage components is expected to rise at a high rate until 2028. The report stated that sales of track shoe undercarriage components might surpass US$ 2,800 Mn by end of forecast period. High efficiency in delivering assistance to construction equipment for comfortable maneuver is marked as a prominent sales motivator. On the other hand, demand for track chains, seals and bushing as undercarriage components, is anticipated to magnify at a relatively quicker pace during the assessment period.
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APEJ Region Procures Impressive Market Share
The market for undercarriage components is likely to showcase higher traction from emerging economies of Greater China and India in the Asia Pacific excluding Japan (APEJ) region. Such developments can be accredited to the stellar growth in construction and infrastructure events active in the region. It is further mentioned that stakeholders from the undercarriage components market can anticipate a steady flow of opportunities from the APEJ region backed by optimistic construction setups.
Finally, the report stresses on key players with a stern outlook highlighting growth strategies, key personnel, company overviews, market shares as well as new developments and innovations. Some of the major companies listed in this assessment include AB Volvo, Deere & Company, Titan International Inc., Berco S.p.A (Thyssenkrupp AG), Caterpillar Inc., Komatsu Limited and Dozco Pct. Ltd.
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