Rapid urbanization and the rise in commercial construction activities is expected to drive the demand of the global excavator track drive market for the forecast period.
According to TechSci Research report, “Excavator Track Drive Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026, Segmented By Component (Sprocket, Final Drive Unit, Track Link, Track Roller, Others), By Demand Category (OEM vs Replacement) and By Region”, the global excavator track drive market is expected to grow at a steady CAGR for the forecast period, 2022-2026. An excavator is a type of heavy construction equipment and is used for excavation and trenching purposes. The excavator contains an undercarriage, sipper, digging bucket, and rear/back actor situated on a rotating platform. Excavator track drives are used for construction, demolition, and large-scale agriculture among many industries. These have higher digging power than the wheeled excavators due to the presence of stabilizer legs that can expand from the side to contact the surface upon which the unit sits. Excavator track drives have stabilizer bars and therefore are highly stable. These have a lower center of gravity as the excavator is near to the ground as the excavator has a large ground contact area. Excavator track drive offers better ground control on most of the surfaces including wet clay, dry clay, ice, packed snow, loose gravel, and wet sand, and therefore is in high demand for various purposes. Excavator track drive is generally made up of steel or rubber are can easily grip sloping surfaces or unstable ground. Due to the presence of frictional force when the machine tracks make contact with the ground which results in pulling the excavator downwards and a bit sideways. Rise in the investments made by the leading authorities and the market players in infrastructural development including residential, industrial, and commercial projects. The large scale-projects in oil and gas, mining, road & port construction are expected to increase the demand for the excavator thereby boosting the market growth. The use of an excavator track drive can easily work on wet and soggy surfaces and therefore have a longer operating window than the wheeled excavator. Track excavators witness fewer downtimes from seasonal restrictions, breakdowns, or repairs. Excavator track drive offers smoother rides as they have a longer base and massive footprint to absorb energy in a better way. Operators prefer the excavator track drives as they are less likely to get disturbed by the occurrence of dips, hollows, and jolts. Excavator track drives are flexible and can work on almost all surfaces and these are consistent in delivering the power to the surface and therefore are in high demand from across the globe. The advantages of using the excavator track drive and the surging demand from the construction industry are expected to boost the global excavator track drive market growth for the next five years.
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Global excavator track drive market is segmented into component, demand category, regional distribution, and company. Based on the demand category, the market is bifurcated into OEM and replacement. The replacement segment is expected to account for major market share for the forecast period, 2022-2026. Due to the high usage of the tracked excavator, they need to be replaced after a specified time to maintain the efficiency of the excavator. These are preferred over its counterpart as they are more cost-effective and therefore are economical to install in the vehicle.
Top Gear Transmission Pvt Ltd, Nachi-Fujikoshi Corp., Robert Bosch GmbH, C.S.J Hydraulic Machinery Co., Ltd., Qingdao LKC Hydraulic Machinery Co., Ltd., Bonfiglioli Transmissions Private Limited, Jun Better Industrial Limited, Komatsu Ltd., Liebherr-International Deutschland GmbH, Shanghai Puyi Industrial Co. Ltd. are the leading players operating in global excavator track drive market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several excavator track drive manufacturers are coming up with their technologically advanced offerings.
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“Due to the high initial investment, the end-user prefers to use the rental excavator as they are more cost-effective and eliminates the need for maintenance costs. The rise in the infrastructural development projects and the growing construction activities around the globe is expected to drive the demand of the global excavator track drive market growth. The growing technological advancements such as the use of fuel cell-based motors to power the excavator track drive along with the increase in the adoption of automated excavator is expected to propel the global excavator track drive market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Excavator Track Drive Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026
Segmented By Component (Sprocket, Final Drive Unit, Track Link, Track Roller, Others), By Demand Category (OEM vs Replacement) and By Region” has evaluated the future growth potential of global excavator track drive market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global excavator track drive market.
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