Evolution of Different Technologies Embedded in Undercarriage Components for Crawler Excavators to Aid Growth by End Of 2030: Fact.MR

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Fact.MR
Apr. 26, 2022 13:55
SEOUL--(Korea Newswire)--As per Fact.MR’s Latest Analysis, the global sales of undercarriage components is expected to surpass a value of US$ 6.5 Bn at the end of 2020, and is projected to expand at a value CAGR of close to 4% over the forecast period 2020-2030. The spread of COVID-19 is resulting in declining sales as the global construction industry is facing a downturn, which ultimately affects the sales of undercarriage components. The impact on the market is continuing to fluctuate as the sales of new equipment have come to a standstill.

Product Launches to Enhance Market Resiliency

Key players in the undercarriage components market are Caterpillar Inc., Deere & Company, ThyssenKrupp AG, AB Volvo, Komatsu Ltd., and Hitachi Construction Machinery, among others. Prominent manufacturers are striving for product enhancement and introducing new products in order to broaden their customer base and gain a competitive edge over other players. For instance, in 2020, Berco, a brand of ThyssenKrupp, introduced a new Platinum Line, a specially-designed undercarriage component line of products for the aftermarket.

The Platinum Line product range focuses on improving undercarriage life in forestry applications. The undercarriage components market in East Asia is expected to grow the fastest by experiencing a value CAGR of 4%, whereas South Asia & Oceania is projected to be valued 2.1X than MEA, and is estimated to account for a significant proportion of the demand pie by the end of the forecast period.

Key Takeaways from Undercarriage Components Market Study

· The global undercarriage components market is projected to create an absolute $ opportunity of more than US$ 2.7 Bn by 2030.
· By component type, the track chains segment is set to hold a share-wide market dominance with over 24% of the total market value by the end of the forecast period.
· By equipment, crawler excavators are projected to expand at a value CAGR of 3.6% and be valued 1.5X than compact track loaders by the end of 2020.
· By end-use, the construction segment is anticipated to register the fastest growth over the course of the forecast duration.
· The undercarriage components market in East Asia is expected to grow the fastest by experiencing a value CAGR of 4%, whereas South Asia & Oceania is projected to be valued 2.1X than MEA, and is estimated to account for a significant proportion of the demand pie by the end of the forecast period.

Key Segments of Undercarriage Components Market

Fact.MR’s study on the undercarriage components market offers information divided into five key segments-component types, equipment, end-use, sales channel, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.

Component Type

· Track Rollers/ Carrier Rollers
· Track Chains
· Idlers & Sprockets
· Track Shoes/ Rubber Tracks
· Other Components (Bushings, Seals, etc.)

Equipment

· Crawler Excavators
· Mini Excavators
· Dozers
· Track Loaders
· Compact Track Loaders
· Crawler Cranes

Sales Channel

· OEMs
· Aftermarket

Some Notable Offerings by Fact.MR Report on Undercarriage Components market:

· We will provide you an analysis of the extent to which this Undercarriage Components market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
· We will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
· Also, this report will help you to identify any trends to forecast growth rates.
· The analyzed report will forecast the general tendency for supply and demand.

Some of the Undercarriage Components Market insights and estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics. The study provides:

· Details regarding the latest innovations and development in Undercarriage Components and how it is gaining customer traction during the forecast period.
· Analysis of the customer demand for the products and how it is likely to evolve in coming years.
· Latest regulations enforced by government bodies and local agencies and their impact on the Demand of the Undercarriage Components Market.
· Insights about the adoption of new technologies and their influence on the Undercarriage Components Market Size.
· Overview of the impact of COVID-19 on the Undercarriage Components Market and economic disruptions caused by the pandemic.
· Evaluates post-pandemic impact on the Sales of the Undercarriage Components Market during the forecast period.

How Fact.MR Assists in Making Strategic Moves For Undercarriage Components Market Manufacturer?

· The data provided in the Undercarriage Components market report offers a comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
· The report covers the price trend analysis and value chain analysis along with an analysis of diverse offerings by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.

Undercarriage Components Market Report: https://www.factmr.com/report/1623/undercarriage-c...
To Remain Ahead from The Competitors, Request a Sample Report of undercarriage components Industry: https://www.factmr.com/connectus/sample?flag=S&rep...
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