(MENAFN- The Express Wire) What will be the CAGR Value for Crawler Dozers Market in 2026? Fortune Business Insights
Posted on Aug 7 2020 5:34 AM
"Crawler Dozers Market Size, Share & Industry Analysis, By Horsepower (Less than 300 HP, 300 - 600 HP & More than 600 HP), By Application (Construction, Mining, Agriculture & Others), and Regional Forecast, 2026
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The global crawler dozers market size is set to hit USD 10.04 billion by 2026, exhibiting a CAGR of 6.3% during the forecast period. Increasing the applicability of crawler dozers will be one of the central growth drivers of this market. Crawler dozers or bulldozers are heavy earthmoving machines that are trailed and tracked and have a front-mounted spade to move or transport soil, rubble, and sand. The tracks or crawlers enable dozers to maintain their ground position and, at the same, improves their agility, which is especially required in rocky terrains. Moreover, these machines are wide and broad owing to which they can distribute the load and hold their balance in uneven terrains. As a result, this equipment is extensively used in infrastructure projects, construction activities, and road maintenance projects. Thus, the market stands to gain from the expansion of the global construction industry, especially in developing nations.
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According to a new Fortune Business Insights report, titled 'Crawler Dozers Market Size, Share & Industry Analysis, By Horsepower (Less than 300 HP, 300 - 600 HP & More than 600 HP), By Application (Construction Mining, Agriculture & Others), and Regional Forecast, 2026, the market value stood at USD 6.19 billion in 2018. The report also contains a detailed assessment of the potential factors, drivers, and dynamics that will influence the share, size, and prospects of the market during the forecast period. This will enable businesses to make informed decisions and gain more ground by strategizing according to the needs of the market.
Key Industry Developments:
- February 2020: China-based construction company, LiuGong, announced the launch of two new dozers through its Poland-based subsidiary, Dressta. The new TD-25 Dozer has an advanced operator comfort, especially in rocky terrains, an improved pressurized cabin.
- April 2018: Japan-based Komatsu Ltd. made commercially available its flagship dozer machines in Australia. These machines are diesel-powered and approved by the US EPA, making them fuel-efficient and low on emissions. Additionally, the dozers have a higher reversing power, elevating their productivity.
Prominent Players:
- Liebherr-International Deutschland GmbH
- Komatsu Ltd.
- Deere & Company
- LiuGong Dressta Machinery
- CNH Industrial N.V
- Caterpillar
- Shantui Construction Machinery Co., Ltd
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Introduction of New Age Technologies to Infuse Fresh Energy into the Market
One of the defining crawler dozers market trends is the up-gradation of conventional machines and equipment with modern technologies. For example, the introduction of power steering in dozers have significantly improved the maneuvering capacity of these machines. Similarly, utilization of power brakes has upped the safety quotient of these machines as they are primarily operated by humans and accidents in such settings can prove fatal. Furthermore, the advent of smart technologies has enhanced the capacity of such equipment even more. For instance, smart control sensors can bring about approximately 100 corrections per second, thereby enhancing the productivity of these machines.
Segmentation
1. By Horsepower
- Less than 300 HP
- 300 - 600 HP
- More than 600 HP
2. By Application
- Construction
- Mining
- Agriculture
- Others (Transportation)
3. By Region
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, and Rest of Europe)
- Asia Pacific (China, Japan, India, Southeast Asia, and Rest of Asia Pacific)
- Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)
- Latin America (Brazil, Mexico, and Rest of Latin America)
Presence of a Robust Construction Industry to Drive the Market in Europe
Based on the USD 1.63 billion worth of revenue generated by Europe in 2018, the region is projected to dominate the crawler dozers market share in the coming decade. This continued dominance will be a result of growing construction activities in Western European countries such as the UK, Germany, and France. Moreover, the region is experiencing increasing investment in infrastructure which will further propel the market there. In North America, growth is expected to be steady as the adoption of modern construction equipment is considerably high in the region. Asia-Pacific, on the other hand, is anticipated to register the highest growth rate on account of the escalating government investment in infrastructure development in India and China. Besides this, the presence of major companies in China is making the global market more competitive and aiding the market in this region. In Africa, the Middle East, and Latin America, modest growth is anticipated owing to the rising investment in infrastructure upgradation activities. Additionally, the growth of the mining industry in these regions will fuel the crawler dozers market revenue even more.
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Operational Expansion Ventures to Color the Competitive Landscape
Key players are looking to solidify their position in this market by expanding their operations and presence in markets outside their home territories, according to the crawler dozers market analysis by Fortune Business Insights. Many companies are also launching new products to broaden their portfolio.
Table of Content
5. Global Crawler Dozers Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Sizing Estimations and Forecasts By Horsepower (Value)
5.2.1. Less than 300 HP
5.2.2. 300 - 600 HP
5.2.3. More than 600 HP
5.3. Market Sizing Estimations and Forecasts By Application (Value)
5.3.1. Construction
5.3.2. Mining
5.3.3. Agriculture
5.3.4. Others (Transportation)
5.4. Market Analysis, Insights and Forecast By Region (Value)
5.4.1. North America
5.4.2. Europe
5.4.3. Asia Pacific
5.4.4. Middle East & Africa
5.4.5. Latin America
6. North America Crawler Dozers Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Sizing Estimations and Forecasts By Horsepower (Value)
6.2.1. Less than 300 HP
6.2.2. 300 - 600 HP
6.2.3. More than 600 HP
6.3. Market Sizing Estimations and Forecasts By Application (Value)
6.3.1. Construction
6.3.2. Mining
6.3.3. Agriculture
6.3.4. Others (Transportation)
6.4. Market Analysis, Insights, and Forecast By Country (Value)
6.4.1. United States
6.4.2. Canada
7. Europe Crawler Dozers Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings / Summary
7.2. Market Sizing Estimations and Forecasts By Horsepower (Value)
7.2.1. Less than 300 HP
TOC Continued....!
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
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