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Ground Engaging Tools Market (Product - Excavators, Loaders, and Other Products; End-user - Construction, Mining, Agriculture, and Other End-users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

  • Published : March, 2020

  • Rep Id : EIM0279

  • Category : Energy, Mining and Infrastructure

  • Status : Published

This report provides exclusive insights into the COVID-19 impact on the Ground Engaging Tools Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Ground Engaging Tools Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Ground Engaging Tools Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.

A recent report published by Infinium Global Research on the ground engaging tools market provides an in-depth analysis of segments and sub-segments in the global as well as regional ground engaging tools market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional ground engaging tools market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global ground engaging tools market. According to the report, the global ground engaging tools market is projected to grow at a CAGR of 8.9% over the forecast period of 2019-2025.

 

Market Insight

Ground engaging tools are tough to wear resistance metal components. These tools have direct contact with the ground during excavation and construction activities. The tools promote machine productivity and protect the expensive components from wear and tear. Ground engaging tools include bucket teeth, cutting edges, and blades that are used in mining and construction machinery.

 

The growing residential and commercial construction and infrastructure contribute to the rise in demand for ground engaging tools. The rising urban population and surge in the number of smart cities supplement the growth of the market. The rise in demand for maintenance and expansion of roads, buildings, water and sanitation facilities, and transportation routes drive the growth of ground engaging tools market. The ground engaging tools affect them directly on a machine in terms of fuel consumption, productivity, longevity of equipment, and maintenance costs. Proper management of ground engaging tools promote the maximization of production capacity of equipment, minimizes operating costs, improves fuel consumption, and more. Further, the rising mining industry drives the expansion of the ground engaging tools market. The heavy equipment machines such as rope shovels, backhoes, face shovels, and wheel loaders that are required in mining activities led to a rise in demand for ground engaging tools. In addition, the surge in demand for metals and mineral iron and steel stimulates the growth of ground engaging tools market. The growing advancements in ground engaging tools improve their accuracy, resistance to wear, impact, fitment, strength, and long-life performance. For instance, hammerless tooth and adapter systems have better durability, productivity, and safe and easy installation that ordinary tooth and adapter system. Furthermore, rising government initiatives for infrastructure improvement in developing countries complement the growth of the market. Additionally, the introduction of eco-efficient mining processes boosts the growth of the ground engaging tools market. On the flip side, uncertainties in the mining and construction industry hinder the growth of the ground engaging tools market. Moreover, research and development create numerous opportunities in the global ground engaging tools market.

 

Geographically, the global ground engaging tools market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. Asia-Pacific region is expected to hold a dominant share in the global ground engaging tools market. The rising population, surge in investments in infrastructure, and improved standard of living in the Asia-Pacific region drive the growth of ground engaging tools market. North America has a significant growth rate in the global ground engaging tools market. The growing infrastructure development in North America led to the expansion of the ground engaging tools market in the region. Europe has fruitful growth opportunities in the global ground engaging tools market owing to a surge in mining and construction activities in the region.

 

Segment Covered

The report on global ground engaging tools market covers segments such as product, and end-user. On the basis of product, the sub-markets include excavators, loaders, and other products. On the basis of end-user, the sub-markets include construction, mining, agriculture, and other end-users.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Caterpillar Inc., Atlas Copco Group, John Deere Co., Komatsu Ltd., Liebherr Group, Sandvik, Hitachi Construction Machinery Co., Ltd., USCO SpA, Metalogenia SA, ESCO Group LLC, and Other companies.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of ground engaging tools market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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