This market research report discusses the comprehensive breakdown of the market based on different types of construction tractors such as wheeled tractor and bulldozer tractor. It brings forth the top international players, including Caterpillar, Deere & Company, Hitachi Construction Machinery, Komatsu, and Volvo Construction Equipment. Also, the market share is classified into three major regions, which include the Americas, the EMEA, and the APAC.
Technavio has released updated information on the tractor market, with the publication of its new market research report, global construction tractors market. The global construction tractors market is expected to grow at a CAGR of around 7% between 2015 and 2019due to the rise in construction activities in the mining, transportation, residential and commercial, and energy industries. The Americas dominate the global market for construction tractors, accounting for around 56% of the total market share. Much of this region’s growth comes from increased investments in real estate development and rapid urbanization. Also, surge in sports infrastructure and revamping of public transportation are expected to increase the construction activities in this region during the forecast period.
“Of late, the market is witnessing increased demand for energy-efficient construction tractors. Several construction companies are aiming towards sustainable development of projects, hence are making efforts to receive energy-efficient certifications. They are focusing to minimise their emissions and pollution throughout the project life cycle,” says Navin Rajendra, Lead Analyst, Heavy Industry, Technavio Research.
Wheeled tractors are the most commonly used construction tractors, occupying around 68% of the overall market revenue. However, the use of bulldozer tractors are expected to increase over the next four years owing to an increase in infrastructure development activities across APAC, EMEA, and the Americas such as the construction of roads, railways, and highways.
The leading vendors in the global construction tractors market include Caterpillar, Deere & Company, Hitachi Construction Machinery, Komatsu, and Volvo Construction Equipment. 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.
A more detailed analysis is available in the Technavio report, Global Construction Tractors Market 2015-2019.
We can customize this reports by other regions and specific segments upon request.
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