Global Excavator Track Drive Market to be dominated by Asia-pacific region till 2026
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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