Ground Engaging Tool Market Report: Trends, Forecast and Competitive Analysis to 2030

Ground Engaging Tool Trends and Forecast

The the future of the global ground engaging tool market looks promising with opportunities in the construction and mining markets. The global ground engaging tool market is expected to reach an estimated $19.0 billion by 2030 with a CAGR of 16.7% from 2024 to 2030. The major drivers for this market are government investment in infrastructure, growing demand for construction equipment, and rising usage of zero-emission equipment.

A more than 150-page report is developed to help in your business decisions.

Ground Engaging Tool by Segment

The study includes a forecast for the global ground engaging tool by applicatin, end use, and region.

Ground Engaging Tool Market by Applicatin [Shipment Analysis by Value from 2018 to 2030]:

• Excavators
• Loaders
• Dozers

Ground Engaging Tool Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Construction
• Mining

Ground Engaging Tool Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Ground Engaging Tool Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies ground engaging tool companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the ground engaging tool companies profiled in this report include-

• Atlas Copco
• Caterpillar
• Hitachi Construction Machinery
• Komatsu
• Sandvik
• Columbia Steel Casting
• Doosan
• USCO
• Volvo
• MB America

Ground Engaging Tool Market Insights

Lucintel forecasts that excavator will remain the largest segment over the forecast period due to increasing demand for construction and mining equipment.

APAC will remain the largest region over the forecast period due to expansion of the construction sector, especially in emerging economies such as India and China, rising population, and better standard of living of people in the region.

Features of the Global Ground Engaging Tool Market

Market Size Estimates: Ground engaging tool market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Ground engaging tool market size by applicatin, end use, and region in terms of value ($B).

Regional Analysis: Ground engaging tool market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different applicatin, end use, and regions for the ground engaging tool market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the ground engaging tool market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the ground engaging tool market size?

Answer: The global ground engaging tool market is expected to reach an estimated $19.0 billion by 2030.

Q.2 What is the growth forecast for ground engaging tool market?

Answer: The global ground engaging tool market is expected to grow with a CAGR of 16.7% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the ground engaging tool market?

Answer: The major drivers for this market are government investment in infrastructure, growing demand for construction equipment, and rising usage of zero-emission equipment.

Q4. What are the major segments for ground engaging tool market?

Answer: The the future of the global ground engaging tool market looks promising with opportunities in the construction and mining markets.

Q5. Who are the key ground engaging tool market companies?

Answer: Some of the key ground engaging tool companies are as follows:

• Atlas Copco
• Caterpillar
• Hitachi Construction Machinery
• Komatsu
• Sandvik
• Columbia Steel Casting
• Doosan
• USCO
• Volvo
• MB America

Q6. Which ground engaging tool market segment will be the largest in future?

Answer: Lucintel forecasts that excavator will remain the largest segment over the forecast period due to increasing demand for construction and mining equipment.

Q7. In ground engaging tool market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to expansion of the construction sector, especially in emerging economies such as India and China, rising population, and better standard of living of people in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the ground engaging tool market by applicatin (excavators, loaders, and dozers), end use (construction and mining), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?