Global crawler dozers market will surpass $10 billion in 2026: report

24 Dec, 2019 | posted in: News | 0
Global crawler dozers market will surpass $10 billion in 2026: report

The global crawler dozers market is projected to reach over $10 billion USD by 2026, growing at a compound annual growth rate (CAGR) of 6.3 percent, according to a new report by Fortune Business Insights.

Crawler dozers are used to move or push large amounts of sand, rubble, soil and other materials encountered on construction job sites, particularly road building and land clearing. A crawler dozer’s tracks give it an exceptional degree of traction in a variety of terrains, making it a versatile and unique machine suited to a wide range of applications.

The growth of the global crawler dozers market is expected to be driven by new, innovative technologies such as sensors, joysticks, power controls, power steering and power breaks. “These new technologies help in effectively controlling the machines with the loads intact on it,” Fortune Business Insights writes. “This will enhance the outcome along with aiding in improving the work quality. Furthermore, smart technologies include smart grade control embedded with sensors which helps in generating approximately 100 corrections for every second.”

In addition to enhancing accuracy and efficiency, the new technology will make it easier for operators with little experience to use crawler dozers, cutting down on training time and expanding the pool of qualified operators.

Crawler dozers are divided into different categories based on horsepower, application and region.

The three horsepower categories are: less than 300 hp, 300 to 600 hp, and more than 600 hp. Of these categories, the 300 to 600 hp category is projected to experience the most growth.

With regard to application, crawler dozers are segregated into construction, mining, agriculture, and others. The construction application will reportedly be most responsible for driving the market forward. The agricultural sector is also expected to witness steady growth.

Of the five major regional categories—North America, Europe, Asia Pacific, the Middle East & Africa and Latin America—Europe is expected to hold the most market share during the forecast period. In 2018, the European region brought in $1.63 billion USD in revenue. With that said, Asia Pacific is projected to have the highest growth rate, thanks largely to investment from China and India.