Crawler Tractor Market Competetive Analysis and Outlook by 2031
WILMINGTON, DELAWARE, UNITED STATES, August 26, 2024 /EINPresswire.com/ -- Crawler tractors have become the go-to solution for heavy-duty applications. Unlike standard tractors, they use durable tracks instead of pneumatic tires, which allows for more even weight distribution across the ground and enables them to operate in areas where rubber tires would fail. The large surface area of the tracks provides greater stability, slower operation than typical tractors, and significantly less sinking on soft surfaces. Crawler tractors also offer the benefits of extended reach and better weight distribution compared to wheeled tractors.
The crawler tractor market size was valued at $3.1 billion in 2021, and is estimated to reach $5.1 billion by 2031, growing at a CAGR of 5% from 2022 to 2031.
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Driving Demands:
The growing awareness of the importance of innovative farming methods in the agriculture sector is a key driver of the agricultural crawler tractor market. Additionally, these tractors save time and reduce the need for manual labor, boosting efficiency and productivity. The rising demand for modern equipment across various industries, including agriculture, construction, and mining, is also expected to fuel the growth of the crawler tractor market.
Top Players:
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).
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Key Segments:
By Type:
Low HP
Sales Channel
Online
Offline
High HP
Sales Channel
Online
Offline
By Business Type:
OEM
Aftermarket
By End user industry:
Agriculture
Construction
Mining
Others
KEY FINDINGS OF THE STUDY
The report provides an extensive analysis of the current and emerging global crawler tractor market trends and dynamics.
Depending on type, the High HP segment has dominated the crawler tractor market, in terms of revenue in 2021 and Low HP is projected to grow at a significant CAGR during the forecast period.
By end-user industry, the construction segment has registered the highest revenue in 2021.
North America is projected to register the highest growth rate in the coming years.
The key players within the global crawler tractor market overview are profiled in this report, and their strategies are analyzed thoroughly, which helps understand competitive outlook of the crawler tractor industry.
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