Crawler Tractors Market By Type (Low HP, High HP), By Application (Agriculture, Construction, Forest, Others) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

Increasing demand for high-capacity equipment and machinery in the agriculture and construction industries is fueling the growth of the crawler tractor market.

Globally, the crawler tractor market is expected to grow with a CAGR of more than 7% during the forecast period from 2019 to 2027, starting from US$ 2.10 Bn in 2018. Globally, infrastructure development is on the rise. This has generated demand for robust and sturdy machinery that would help conduct the activities with ease. Numerous government initiatives with the aim of upgrading the existing infrastructure are generating a high demand for advanced machines in the construction sector. For heavy ripping work, moving material, or fine-grading, crawler tractors are the perfect alternative. Moreover, growing installation and maintenance activities for the upgrade of infrastructure coupled with road construction activities are driving the need for these machines across several regions.

Thus, the rise in infrastructure projects and growing urbanization are expected to have a positive impact on the crawler tractor market. In addition to this, developments in the agricultural sector are also considered one of the primary factors contributing to the growth of this market. Advancements in the mechanical engineering industry are enabling the major players to modify the existing machinery in a way to make it even more progressive. Thus, product development and launches in this field are creating a competitive atmosphere and, thus, driving market growth across various geographies. However, the high cost associated with these machines and the lack of skilled labor to use these big and bulky machines are likely to restrain the market growth during the forecast period.

The high-HP segment is expected to continue dominating the market.

By type, the crawler tractor market is segmented into high- and low-horsepower tractors. The high-horsepower segment dominated the market by holding the largest market share on a global level. Horsepower is the unit that defines the capacity of the tractor, and to achieve desirable results, high horsepower is the most common type of machine. Based on the way crawler tractors work, they require a high capacity and a longer working radius, which are achieved by high-horsepower machines, so they are used at a higher level. Based on the inputs of manufacturers, the sales of high-HP crawler tractors are skyrocketing, thus contributing to the larger market size. This segment is also expected to grow at a higher CAGR and dominate the market during the forecast period.

Asia Pacific to Register the Fastest Growth

North America dominated the crawler tractor market. In 2018, the regional market accounted for the maximum market share of the total revenue generated worldwide. The increasing adoption of advanced technologies to make human work easier is the major factor attributed to this high market size. Though this region is dominating the market, the growth in this region is projected to be steady.

Most of the European countries and the Asia-Pacific region are expected to witness rapid growth in the global crawler tractor market. Growing infrastructure activities in emerging countries like India and China have led several manufacturers to expand their presence in these countries to increase their global footprint. Moreover, as most Asian countries are agriculture-driven, the rapidly growing need for advanced equipment in the agriculture industry in this region is also increasing demand for these machines, thereby supporting the crawler tractor market's growth.

Some of the prominent players operating in the crawler tractor market include Liebherr Group, John Deere, Brandt, Caterpillar Inc., DEUTZ-FAHR, New Holland, Kubota, Case IH, CLAAS, AGCO Corporation, Shandong Rich Agriculture Machinery, and ShanTui, among others.

Historical and Forecast Period

This research report presents the analysis of each segment from 2017 to 2027,considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The crawler tractor market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global crawler tractor market based on type, application, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

• What was the market size of crawler tractors in 2018, and what is the forecast up to 2027?
• Which is the largest regional market for the high-HP segment?
• What are the major trends followed in the crawler tractor market across different regions?
• Who are the key crawler tractor companies leading the market?
• What are the key strategies adopted by the leading crawler tractor companies on the market?

Unique data points of this report

• Statistics on crawler tractor penetration and spending worldwide
• Recent trends across different regions in terms of the adoption of crawler tractors for various end users
• Notable developments going on in the crawler tractor industry
• Attractive investment propositions for segments as well as geography
• Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

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