December 11, 2019 04:56 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, Dec. 11, 2019 (GLOBE NEWSWIRE) -- 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 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 expansion of the global construction industry, especially in developing nations.
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, 2019-2026”, 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 take informed decisions and gain more ground by strategizing according to the needs of the market.
To gain more insights into the market with detailed table of content and figures, click here: https://www.fortunebusinessinsights.com/industry-reports/crawler-dozers-market-101750
Introduction of New Age Technologies to Infuse Fresh Energy into the Market
One of the defining Crawler Dozers Market trends is the upgradation of conventional machines and equipment with modern technologies. For example, 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.
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 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, 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.
List of Prominent Players Covered in the Crawler Dozers Market Research Report are :
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