What is Tracked Excavators Market?
Excavators are heavy construction equipment consisting of a boom, dipper, bucket, and cab on a rotating platform known as the "house".Tracked excavators are built to be able to move around on tracks. The tracks of the excavators come in three types such as rubber tracks, iron or steel tracks and steel tracks with street pads. Increase infrastructure development and projects in the mining, and oil and gas construction have a positive impact on the growth of the market.
The market study is being classified by Type (Medium Type, Large Type and Small Type), by Application (Construction, Mining and Other) and major geographies with country level break-up.
Caterpillar (United States), Komatsu (Japan), Hitachi Construction Machinery (Japan), Volvo Construction Equipment (Sweden), XCMG Group (China), BEML (India), J C Bamford Excavators (United Kingdom), Deere & Company (United States), Kobelco Construction Machinery (United States), SANY GROUP (China) and Terex (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Menzi Muck (Switzerland) and CNH Industrial (United Kingdom).
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Tracked Excavators market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Tracked Excavators market by Type, Application and Region.
On the basis of geography, the market of Tracked Excavators has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Urbanization and Industrialization
- Growing Demand for Construction Equipment
Market Trend
- Integration of IoT in Construction Equipment for Remote Monitoring
Restraints
- High Machinery and Maintenance Cost
Opportunities
- Rising Government Expenditure on Infrastructure Sector
- Increasing Number of Projects in the Mining, Road and Port Construction, and Oil and Gas Construction
Challenges
- Availability of Substitutes in the Market
Key Target Audience
Tracked Excavators Manufacturer, Tracked Excavators Suppliers/ Distributors, Traders, and Dealers of Tracked Excavators, Industry Associations, Research and Consulting Firms and Others