Market outlook of the global construction tractors market
The global construction tractors market is expected to grow significantly and post a CAGR of nearly 7% during the forecast period, due to the rise in construction activities in the mining, transportation, residential and commercial, and energy industries. Additionally, the market growth is attributed to increased investment in infrastructure development across all the regions.
In 2014, World Bank Group launched a new global infrastructure facility (GIF) in partnership with private institutional investors to bridge the infrastructure gap in developing nations by channelizing funds for infrastructure development. According to World Bank estimates in 2014, developing countries require additional $1 trillion a year for infrastructure development till 2020.
Competitive landscape and key vendors
Competition is robust in this market with customers keen on manufacturers that provide technologically advanced, eco-friendly construction tractors. Manufacturers also need to cater to the needs of the customers who opt for customization of construction tractor models that suit their work profile.
Key leading vendors dominating this market are as follows –
- Caterpillar
- Deere
- Hitachi
- Komatsu
- Volvo
Other prominent vendors include LiuGong Machinery, Zoomlion, Shantui Construction Machinery, Liebherr, Shandong Heavy Industry Group, Durga Tractors, BEML, Rockland, Case Construction, Doosan Infracore, Kawasaki Construction Machinery, Hyundai Heavy Industries, YTO Group, and JCB.
Global construction tractors market segmentation by type
- Wheeled tractor
- Bulldozer tractor
The year 2014 witnessed the dominance of the wheeled tractor segment with a market share of almost 68% of the total global construction tractor market.
Geographical segmentation of the construction tractors market
The Americas held the largest market share, with more than 56% share of the global construction tractor market, and it will continue to do so in the forecast period. Technavio expects that the increased investment in real estate development and rapid urbanization across all the regions will lead to the overall growth of construction tractor market.
Growth drivers, challenges, and upcoming trends: Construction tractors market
Technavio’s market research analysts analyze upcoming trends such as energy-efficient construction tractors to elevate market growth in the forecast period. Vendors are initiating huge investment in R&D to try and gain a competitive advantage over other players in this market.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the global construction tractors market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
- What will the market size and the growth rate be in 2019?
- What are the key factors driving the global construction tractors market?
- What are the key market trends impacting the growth of the global construction tractors market?
- What are the challenges to market growth?
- Who are the key vendors in the global construction tractors market?
- What are the market opportunities and threats faced by the vendors in the global construction tractors market?
- Trending factors influencing the market shares of the Americas, EMEA, and the APAC region.
- What are the key outcomes of the five forces analysis of the global construction tractors market?
Technavio also offers customization on reports based on specific client requirement.
Related reports
PART 01: Executive summary
Highlights
PART 02: Scope of the report
Market overview
Top-vendor offerings
PART 03: Market research methodology
Research methodology
Economic indicators
PART 04: Introduction
Key market highlights
PART 05: Market landscape
Market overview
Market size and forecast
Five forces analysis
PART 06: Market segmentation by type
Construction tractors market by type
Global wheeled tractor market
Global bulldozer tractor market
PART 07: Geographical segmentation
Construction tractor market in America
Construction tractor market in APAC
Construction tractor market in EMEA
PART 08: Key leading countries
Key leading countries in Americas
Key leading countries in APAC
Key leading countries in EMEA
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
Competitive scenario
Other prominent vendors
PART 15: Key vendor analysis
Caterpillar
Deere & Company (John Deere)
Hitachi Construction Machinery
Komatsu
Volvo Construction Equipment
PART 16: Appendix