Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Ground Engaging Tool Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to ResearchAndMarkets.com's offering.
Ground Engaging Tool Trends and Forecast
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.
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
The publisher 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.
For more information about this report visit https://www.researchandmarkets.com/r/l8t6ef
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