Pune, Sept. 07, 2020 (GLOBE NEWSWIRE) -- The global crawler dozers market size is projected to reach USD 10.22 billion by the end of 2027. The increasing number of product launches will have a massive impact on the growth of the overall market in the coming years. According to a report published by Fortune Business Insights, titled “Crawler Dozers Market Size, Share & COVID-19 Impact Analysis, By Horsepower (Less than 300 HP, 300 - 600 HP & More than 600 HP), By Application (Construction, Mining, Agriculture & Others), and Regional Forecast, 2020-2027,” the market was worth USD 6.51 billion in 2019 and will exhibit a CAGR of 5.9% during the forecast period, 2020-2027.
Crawler dozers are trailed machines that are used to move large quantities and volume of material such as sand, soil, and rubble. The operation of the device is mechanical and electric, which gives it the ability to carry huge loads. The technological advancements in crawler dozers have allowed flexible applications; a primary factor that has contributed to the increasing adoption of the product across the world. The ability of these dozers to hold their ground and operate seamlessly in rough terrains will have a huge impact on the growth of the overall market in the coming years. The presence of several large scale manufacturers in this sector will subsequently influence the growth of the crawler dozers market in the foreseeable future.
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Although Covid-19 Pandemic Halted Construction Activities; Surge in Road Repairing Activities will Bring Much Needed Relief
The recent coronavirus outbreak has created a sense of panic across the world. The efforts taken to curb the spread of the disease have affected several businesses across the world. The rapid spread of the disease in the past few years has compelled governments across the world to implement lockdowns and other strict measures. However, these measures have had an adverse impact on several businesses, with SMEs being hit worse than other brackets. Due to shortage of labourers, building and residential projects have come to a standstill. However, several governments have identified this as an ideal opportunity to repair roads as well as construct newer roads due to lesser traffic and gatherings on the road.
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Increasing Number of Product Launches will Emerge in Favor of Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of product launches, driven by rising investments in product R&D, will have a considerably high impact than other factors. Due to healthy market competition, several companies are focusing on introducing innovative products, with the aim of acquiring a wider consumer base. The use of precision sensors and data learning algorithms is an increasing trend among major companies and this has hugely benefited large scale as well as medium scale enterprises. Liebherr-International’s latest crawler dozer variant is a perfect example of the technological approach that companies are integrating. The company introduced the ‘PR736 G8’ crawler dozer, a product that is integrated with a new diesel engine. Increasing number of product innovations will have a massive impact on the growth of the global market in the coming years.
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Europe to Emerge Dominant; Rise of Construction Industry will Emerge in Favor of Market Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Europe is projected to emerge dominant in the coming years. The rise of the construction industry in several countries across this region will aid the growth of the regional market. The presence of several large scale manufacturers in countries such as France, Germany, and the UK will also emerge in favor of growth of the regional market. As of 2019, the market in Europe was worth USD 1.75 billion and this value is projected to rise at a considerable pace in the coming years.
List of Key Companies profiled in Crawler Dozers Market Report:
- Deere & Company (United States)
- Caterpillar (United States)
- Liebherr-International Deutschland GmbH (Switzerland)
- LiuGong Dressta Machinery (Poland)
- Shantui Construction Machinery Co., Ltd (China)
- Komatsu Ltd (Japan)
- CNH Industrial N.V (The Netherlands)
- Xuanhua Construction Machinery Co., Ltd. (China)
Industry Developments:
- March 2020: LiuGong Dressta Machinery announced the launch of a new crawler dozer. The company introduced ‘TD-16N crawler dozer,’ a product that has improved operational capabilities than its previous versions.
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Detailed Table of Content
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Government Rules & Regulations
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Market Share Analysis and Matrix, 2019
- Key Market Insights and Analysis, By Segments
- Global Crawler Dozers Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- By Horsepower (Value)
- Less than 300 HP
- 300 - 600 HP
- More than 600 HP
- By Application (Value)
- Construction
- Mining
- Agriculture
- Others (Transportation)
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- By Horsepower (Value)
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