Reliable Data You Can Trust
Reliable Data You Can Trust
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.
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.
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.
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.
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.
Please Choose One of them.