PUBLISHER: Polaris Market Research | PRODUCT CODE: 1786889
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1786889
The undercarriage components market size is expected to reach USD 66.13 Billion by 2034, according to a new study by Polaris Market Research. The report "Undercarriage Components Market Share, Size, Trends, Industry Analysis Report: By Component Type (Track and Carrier Rollers, Track Chains), By Equipment Type, By Sales Channel, By End User, and By Region; Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Undercarriage components are important mechanical systems supporting and mobilizing tracked heavy construction equipment with stability, load distribution, and ground contact in different environments. These parts, such as track rollers, chains, idlers, and shoes, facilitate effective movement and performance in construction, mining, agriculture, and forestry activities.
They are essential for machine durability, productivity, and safety, especially in demanding environments. Technological advancements in material strength, smart wear tracking, and fuel-efficient designs are enhancing the functionality and lifecycle of undercarriage systems. Their role extends beyond mobility, contributing to reduced operational costs, extended equipment uptime, and improved performance across project lifecycles.
In terms of sales channel, the OEM segment led the market in 2024, fueled by the increasing integration of advanced undercarriage systems into new equipment manufacturing processes.
Based on end user, the agriculture and forestry sector is poised to capture significant market share by 2034, propelled by growing mechanization and expansion of farming and forestry operations in emerging economies.
Asia Pacific is anticipated to register the highest growth rate, supported by accelerating infrastructure development and widespread equipment mechanization across construction, mining, and agricultural activities.
North America held the largest global market share in 2024, driven by robust construction projects, refined mining operations, and substantial infrastructure modernization investments in the region.
A few global key market players include Caterpillar Inc., Komatsu Ltd., AB Volvo, ThyssenKrupp AG, John Deere, Liebherr Group, VTS Track Solutions, ITR America, USCO SpA, DRB Industrial Co. Ltd., Berco S.p.A., and Dozco India Pvt. Ltd.
Polaris Market Research has segmented the market report on the basis of component type, equipment type, sales channel, end user, and region:
By Component Type Outlook (Revenue, USD Billion, 2020-2034)
Track and Carrier Rollers
Track Chains
Idlers & Sprocket
Equalizer Bars
Track Shoe/Rubber Tracks
Track Adjuster & Recoil
Link Assemblies
Others
By Equipment Type Outlook (Revenue, USD Billion, 2020-2034)
Excavator
Track Loader
Dozers
Multi Terrain Loaders
Crawler Cranes
Asphalt Pavers
Other Equipment Type
By Sales Channel Outlook (Revenue, USD Billion, 2020-2034)
OEM
Aftermarket
By End User Outlook (Revenue, USD Billion, 2020-2034)
Construction
Mining
Agriculture & Forestry
Oil & Gas
By Regional Outlook (Revenue, USD Billion, 2020-2034)
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Vietnam
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America