This market research report segments the global wheeled tractor market by geography and includes regions like the Americas, EMEA, and APAC. The report also provides an overview of the critical drivers, trends, and challenges that influence market growth. Key vendors analyzed in this report are Caterpillar, Hitachi Construction Machinery, John Deere, Komatsu, and Volvo.
Technavio has released its new market research report, global wheeled tractor market, which is expected to grow at a CAGR of more than 6% between 2015 and 2019. Increased investment in infrastructure development worldwide is a major propelling factor of this market’s growth. Technavio’s market research analysts estimate the Americas to lead the global market for wheeled tractors, accounting for around 55% of the total market share. Much of this region’s high market share can be attributed to the augmented construction expenditure across diverse segments like transportation and energy.
“Development of GPS enabled wheeled tractors is one of the key trends gaining traction in this market. Manufacturers are incorporating GPS-based advanced tracking system in wheeled tractors to monitor the equipment’s performance and efficiency parameters. For instance, Kawasaki’s Z7 wheel loaders gather data through GSM and GPS technologies in remote areas,” says Navin Rajendra, Heavy Industry, Technavio Research.
Rapid urbanization across the world has led to increased infrastructure investments in railroads, highways, and ports. This has boosted the demand for wheeled tractors. Real estate development has also fueled the requirement for these tractors especially in residential construction projects.
The leading vendors in the global wheeled tractor market are Caterpillar, Deere, Hitachi, Komatsu, and Volvo. Competition in this market is rapidly increasing as customers prefer manufacturers that provide technologically advanced, eco-friendly wheeled tractors. Additionally, the availability of customizable-wheeled tractors that cater to the individual needs of customers is expected to boost competition in this market during the next five years.
A more detailed analysis is available in the Technavio report, Global Wheeled Tractor – Market Study Report 2015-2019.
We can customize this reports by other regions and specific segments upon request.
Other Related Reports:
- Global Wheeled Tractors Market 2014-2018
- Construction Tractor Market in South Korea 2015-2019
- Global Automotive Multi-wheel Drive Market 2015-2019
- Wheeled Loaders Market in Europe 2015-2019
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