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Ground Engaging Tool Trends and Forecast
The the future of the global ground engaging tool market looks promising with opportunities in the construction and mining markets. The global ground engaging tool market is expected to reach an estimated $19.0 billion by 2030 with a CAGR of 16.7% from 2024 to 2030. The major drivers for this market are government investment in infrastructure, growing demand for construction equipment, and rising usage of zero-emission equipment.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Ground Engaging Tool by Segment
The study includes a forecast for the global ground engaging tool by applicatin, end use, and region.
Ground Engaging Tool Market by Applicatin [Shipment Analysis by Value from 2018 to 2030]:
• Excavators
• Loaders
• Dozers
Ground Engaging Tool Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Construction
• Mining
Ground Engaging Tool Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Ground Engaging Tool Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies ground engaging tool companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the ground engaging tool companies profiled in this report include-
• Atlas Copco
• Caterpillar
• Hitachi Construction Machinery
• Komatsu
• Sandvik
• Columbia Steel Casting
• Doosan
• USCO
• Volvo
• MB America
Ground Engaging Tool Market Insights
Lucintel forecasts that excavator will remain the largest segment over the forecast period due to increasing demand for construction and mining equipment.
APAC will remain the largest region over the forecast period due to expansion of the construction sector, especially in emerging economies such as India and China, rising population, and better standard of living of people in the region.
Features of the Global Ground Engaging Tool Market
Market Size Estimates: Ground engaging tool market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Ground engaging tool market size by applicatin, end use, and region in terms of value ($B).
Regional Analysis: Ground engaging tool market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different applicatin, end use, and regions for the ground engaging tool market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the ground engaging tool market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the ground engaging tool market size?
Answer: The global ground engaging tool market is expected to reach an estimated $19.0 billion by 2030.
Q.2 What is the growth forecast for ground engaging tool market?
Answer: The global ground engaging tool market is expected to grow with a CAGR of 16.7% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the ground engaging tool market?
Answer: The major drivers for this market are government investment in infrastructure, growing demand for construction equipment, and rising usage of zero-emission equipment.
Q4. What are the major segments for ground engaging tool market?
Answer: The the future of the global ground engaging tool market looks promising with opportunities in the construction and mining markets.
Q5. Who are the key ground engaging tool market companies?
Answer: Some of the key ground engaging tool companies are as follows:
• Atlas Copco
• Caterpillar
• Hitachi Construction Machinery
• Komatsu
• Sandvik
• Columbia Steel Casting
• Doosan
• USCO
• Volvo
• MB America
Q6. Which ground engaging tool market segment will be the largest in future?
Answer: Lucintel forecasts that excavator will remain the largest segment over the forecast period due to increasing demand for construction and mining equipment.
Q7. In ground engaging tool market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period due to expansion of the construction sector, especially in emerging economies such as India and China, rising population, and better standard of living of people in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the ground engaging tool market by applicatin (excavators, loaders, and dozers), end use (construction and mining), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Ground Engaging Tool Market, Ground Engaging Tool Market Size, Ground Engaging Tool Market Growth, Ground Engaging Tool Market Analysis, Ground Engaging Tool Market Report, Ground Engaging Tool Market Share, Ground Engaging Tool Market Trends, Ground Engaging Tool Market Forecast, Ground Engaging Tool Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Ground Engaging Tool Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Ground Engaging Tool Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Ground Engaging Tool Market by Applicatin
3.3.1: Excavators
3.3.2: Loaders
3.3.3: Dozers
3.4: Global Ground Engaging Tool Market by End Use
3.4.1: Construction
3.4.2: Mining
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Ground Engaging Tool Market by Region
4.2: North American Ground Engaging Tool Market
4.2.2: North American Ground Engaging Tool Market by End Use: Construction and Mining
4.3: European Ground Engaging Tool Market
4.3.1: European Ground Engaging Tool Market by Applicatin: Excavators, Loaders, and Dozers
4.3.2: European Ground Engaging Tool Market by End Use: Construction and Mining
4.4: APAC Ground Engaging Tool Market
4.4.1: APAC Ground Engaging Tool Market by Applicatin: Excavators, Loaders, and Dozers
4.4.2: APAC Ground Engaging Tool Market by End Use: Construction and Mining
4.5: ROW Ground Engaging Tool Market
4.5.1: ROW Ground Engaging Tool Market by Applicatin: Excavators, Loaders, and Dozers
4.5.2: ROW Ground Engaging Tool Market by End Use: Construction and Mining
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Ground Engaging Tool Market by Applicatin
6.1.2: Growth Opportunities for the Global Ground Engaging Tool Market by End Use
6.1.3: Growth Opportunities for the Global Ground Engaging Tool Market by Region
6.2: Emerging Trends in the Global Ground Engaging Tool Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Ground Engaging Tool Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Ground Engaging Tool Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Atlas Copco
7.2: Caterpillar
7.3: Hitachi Construction Machinery
7.4: Komatsu
7.5: Sandvik
7.6: Columbia Steel Casting
7.7: Doosan
7.8: USCO
7.9: Volvo
7.10: MB America
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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