The global crawler tractor market revenue was around US$ 3.2 billion in 2022 and is estimated to reach US$ 4.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 5% during the forecast period from 2023 to 2031.
A crawler tractor is a vehicle that moves on tracks as opposed to wheels. It can be connected to a ripper or bulldozer blade, among other things, and employed in engineering applications. It might also be attached to a three-point hitch for usage in farming applications.
Market Driving Factors
Surge in energy density, advances in materials, and manufacturing to propel the market growth. Crawler tractors are surging incorporating Global Positioning System (GPS) technology to acquire precision grading, allowing operators to attain proper positioning and excavation levels without the need for additional surveying equipment. In addition, the integration of telematics systems in these tractors promotes real-time monitoring and tracking of machine performance and place. This data demonstrates value for optimization of equipment usage, maintenance, and improving overall fleet management.
An increase in awareness of innovative farming methods is predicted to drive the market. In addition, utilization of this machine saves time and aids in challenging work, so it can be used to perform various tasks. As a result, major key players such as Deere & Company are concentrated on developing enhanced hardware that may be utilized to boost efficiency to greater levels. Moreover, an increase in awareness leads to a surge in the adoption of machinery, which ensures high productivity gains.
The shortage of experienced labor to operate these big, cumbersome equipment and the high costs associated with crawler tractors are projected to limit market expansion.
Regional Analysis
North America dominated the market in terms of the largest shares and is predicted to maintain its dominance. This can be largely attributed to the surge in investment, raised in agriculture activities, and investments in infrastructure by the government. Moreover, the majority of nations in the region spend on the agricultural sector for the growth of their economies, which is driving market growth.
Asia Pacific is estimated to dominate the market in terms of the fastest growth rate. This is mainly owing to the increasing infrastructure operations, and surging mining activities in the nations that are propelling the market growth. Furthermore, as most Asian nations are increasing agriculture, the surging requirement for sophisticated machinery in this region's agricultural industry is also propelling the demand for crawler tractors.
Segmentation Insights
Type Insight
The high HP segment is predicted to dominate the market in terms of revenue. This is mainly owing to the increase in agricultural-related activities such as planting, sowing, and crop cultivation in different countries such as Africa, India, and Indonesia driving the demand for high-performance crawler tractors.
End User Industry Insight
The agriculture segment is estimated to dominate the market in terms of the rate. This is mainly owing to the crawler tractors playing a significant role in agriculture, being used for a range of tasks including tilling, and planting. In addition, they empower farmers to efficiently manage expansive land areas, thereby increasing productivity in crop cultivation. As a result, the adaptable nature of crawler tractors demonstrates invaluable in meeting different agricultural requirements, assisting in tasks like soil preparation and other important farming activities.
The construction segment is estimated to dominate the market in terms of revenue. This is mainly owing to the increase in government expenditure on developing infrastructure activities, which is anticipated to lead to an increase in demand for crawler tractors for transport applications.
Prominent Companies
Segmentation Outline
The global crawler tractor market segmentation focuses on the Type, Business Type, End User Industry, and Region.
By Type
By Business Type
By End User Industry
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL CRAWLER TRACTOR MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: CRAWLER TRACTOR MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL CRAWLER TRACTOR MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL CRAWLER TRACTOR MARKET, BY TYPE
5.1 OVERVIEW
5.2 LOW HP
5.3 HIGH HP
6 GLOBAL CRAWLER TRACTOR MARKET, BY BUSINESS TYPE
6.1 OVERVIEW
6.2 OEM
6.3 AFTERMARKET
7 GLOBAL CRAWLER TRACTOR MARKET, BY END USER INDUSTRY
7.1 OVERVIEW
7.2 AGRICULTURE
7.3 CONSTRUCTION
7.4 MINING
7.5 OTHERS
8 GLOBAL CRAWLER TRACTOR MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3.1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL CRAWLER TRACTOR MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 MAHINDRA & MAHINDRA LTD
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 LUOYANG HOWODE MACHINERY EQUIPMENT CO. LTD
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 NEW HOLLAND
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 AGCO CORPORATION
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 S.D.F S.P.A.
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 LIUGONG DRESSTA MACHINERY
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 JOHN DEERE
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 CLAAS KGAA GMBH
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 HITACHI LTD
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 MITSUBISHI CORPORATION
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.11 HBXG
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.12 LIEBHERR GROUP
10.12.1 OVERVIEW
10.12.2 FINANCIAL PERFORMANCE
10.12.3 PRODUCT OUTLOOK
10.12.4 KEY DEVELOPMENTS
10.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.13 BRANSON TRACTORS
10.13.1 OVERVIEW
10.13.2 FINANCIAL PERFORMANCE
10.13.3 PRODUCT OUTLOOK
10.13.4 KEY DEVELOPMENTS
10.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.14 KOMATSU LIMITED
10.14.1 OVERVIEW
10.14.2 FINANCIAL PERFORMANCE
10.14.3 PRODUCT OUTLOOK
10.14.4 KEY DEVELOPMENTS
10.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.15 KUBOTA CORPORATION
10.15.1 OVERVIEW
10.15.2 FINANCIAL PERFORMANCE
10.15.3 PRODUCT OUTLOOK
10.15.4 KEY DEVELOPMENTS
10.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.16 SHANTUI CONSTRUCTION MACHINERY CO. LTD
10.16.1 OVERVIEW
10.16.2 FINANCIAL PERFORMANCE
10.16.3 PRODUCT OUTLOOK
10.16.4 KEY DEVELOPMENTS
10.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.17 TEREX CORPORATION
10.17.1 OVERVIEW
10.17.2 FINANCIAL PERFORMANCE
10.17.3 PRODUCT OUTLOOK
10.17.4 KEY DEVELOPMENTS
10.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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