Crawler Tractor Market Future Trends, Market Opportunities & Key Players 2031

WILMINGTON, DE, UNITED STATES, October 16, 2024 /EINPresswire.com/ -- Major determinants of the market growth:

Increase in demand for modern equipment from several end-use industries including agriculture, mining, and construction, and increase in R&D activities to expand and enhance crawler tractor skills & program have boosted the growth of the global crawler tractor market. In addition, increase in awareness of novel farming methods and use of machines to save time and help in difficult work supplement the market growth. Heavy investment by major market players on developing improved hardware and increase in renovation and installation operations would open new opportunities in the future.

As per the report, the global crawler tractor industry was accounted for $3.1 billion in 2021, and is expected to reach $5.1 billion by 2031, growing at a CAGR of 5.0% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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The high HP segment dominated the market

By type, the high HP segment held the largest share in 2021, accounting for more than four-fifths of the global crawler tractor market, and is projected to maintain its leading position throughout the forecast period. In addition, the segment is estimated to register the highest CAGR of 5.1% during the forecast period, due to rise in agricultural related activities such as sowing, planting, and crop cultivation in various countries such as India, Africa, and Indonesia. The report includes analysis of the low HP segment.

The OEM segment to portray the highest CAGR through 2030

By business type, the OEM segment is projected to manifest the highest CAGR of 5.2% from 2021 to 2030. In addition, the segment held the largest share in 2021, accounting for more than four-fifths of the global crawler tractor market, owing to rise in adoption of technology to increase efficiency. The report includes analysis of the aftermarket segment.

The construction segment held the largest share

By end-use industry, the construction segment held the largest share in 2021, contributing to more than one-third of the global crawler tractor market. In addition, the segment is expected to manifest the highest CAGR of 6.0% during the forecast period, owing to rise in government expenditure on developing infrastructure activities. The report includes analysis of the agriculture, mining, and others segment.

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Top Players:

The key players that operate in the crawler tractor market are AGCO Corporation, Branson Tractors, CLAAS KGaA mbH, John Deere, HBXG, Hitachi, Komatsu, Kubota Corporation, Liebherr Group, Liugong Dressta Machinery, Mahindra & Mahindra Ltd., Mitsubishi, New Holland, S.D.F s.p.a., Shantui Construction Machinery Co., Ltd., Terex Corporation, and YTO (Luoyang Howode Machinery Equipment Co., Ltd).

KEY BENEFITS FOR STAKEHOLDERS:

The report provides an extensive analysis of the current and emerging global crawler tractor market trends and dynamics.
In-depth global crawler tractor market analysis is conducted by constructing market estimations for key market segments between 2022 and 2031.
Extensive analysis of crawler tractor market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
Crawler tractor market forecast analysis from 2022 to 2031 is included in the report.
The key players in the crawler tractor market overview are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of crawler tractor industry.

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