Undercarriage Components Market Insights
The undercarriage components market is poised to expand 1.4X in terms of value over the forecast period. However, the COVID-19 outbreak is having a negative impact on the global undercarriage components market due to the closure of manufacturing plants in various countries. Moreover, this has also impacted the demand for construction equipment, significantly, which will result in a drop in demand for undercarriage components in the near-term forecast. However, manufacturers are optimistic that recovery in demand for construction equipment such as crawler excavators, dozers, compact track loaders, and crawler cranes is anticipated to trigger the use of undercarriage components, consequently leading to the expansion of the undercarriage components market size in the years ahead.
Undercarriage Components Market Trends
Commercial infrastructure is expected to witness significant growth on the back of increasing infrastructure activities and urbanization. Rising construction projects such as expansion of airports, construction of commercial buildings, growing highway constructions, road extensions, and residential projects have further pushed the demand for heavy machinery, in turn, reinforcing the demand for undercarriage components during the period of assessment.
Rising demand for undercarriage components in the construction and mining industry has influenced manufacturers to develop advanced products. Technological advances in the manufacturing and design of undercarriage components have enhanced their durability and efficiency. However, this has resulted in an increase in the pricing of undercarriage components, along with high maintenance costs. Against this backdrop, the prevalence of counterfeit undercarriage components has significantly risen, in turn, challenging the growth of the market. Low pricing of counterfeit undercarriage components has resulted in a substantial surge in their sales. However, quality concerns associated with counterfeit undercarriage components remain questionable in terms of future adoption. This factor is likely to confine the sales of original undercarriage components, in turn, posing challenges to OEMs and genuine retailers of in the coming years.
For better understanding of revenue contribution of each end use to the global undercarriage components market, ask an exert analyst
Undercarriage Components Market Insights by Equipment
Undercarriage components for crawler excavators are foreseen to dominate the equipment segment, and are estimated to account for more than 33% of the total market share in 2020. Rising focus on the development of high value service industries coupled with increasing pace of economic diversification has presented potential growth opportunities for earth moving equipment such as crawler excavators. These are increasingly being used for digging land and clearing rocks and sand on construction sites. Crawler excavators are utilized for attempting highly complex construction operations, owing to which, the utilization of undercarriage component by crawler excavators is foreseen to maintain its dominance over the forecast duration.
For more valuable information on the contribution of each equipment to the global undercarriage components market value, ask an sample request
Regional Outlook of Undercarriage Components Market
Collectively, East and South Asia are estimated to dominate the undercarriage components market share, with 46% of the market share, followed by Europe. Furthermore, rising commercial infrastructure activities in Middle Eastern and African countries backed by significant investments in this sector are likely to significantly boost demand for earth moving equipment in the coming years. This factor is expected to bolster the adoption of undercarriage components, given their increasing use in equipment such as crawler excavators and dozers used in commercial infrastructure, in turn, pushing the growth of the undercarriage components market. In addition, considerable demand for construction equipment in North America is likely to bolster the demand for undercarriage components during the forecast period.
Undercarriage Components Market Manufacturer Insights
The undercarriage components market is majorly dominated by Caterpillar Inc., Deere & Company, ThyssenKrupp AG, AB Volvo, Komatsu Ltd., and Hitachi Construction Machinery. However, there is a large number of local and regional players present in the global undercarriage components market. These market players are concentrating on launching new and efficient construction equipment in order to broaden their market footprints in the global construction equipment market, which will improve their market position in the global undercarriage components market. For instance, in 2020, Caterpillar Inc. launched its new D7 Dozer, which offers high drive undercarriage design, increased performance, and broadest choice of easy-to-use technology features. D7 moves up to 8 percent more material per hour than D7E, with around 6 percent more weight and 12 percent more horsepower. In 2020, the company introduced a complete set of undercarriage parts for the 200 ton mining excavator PC2000-8. The set includes front idlers, tracks, and carrier rollers, which feature with high wear resistant Boron steel that enables to optimize cost per hour.
COVID-19 Impact on Undercarriage Components Market
The COVID-19 pandemic has brought about several changes for construction equipment manufacturers, and the industry as a whole. Manufacturers have temporarily shut down their plants, and the demand for undercarriage components is witnessing a downturn. The pandemic has also restricted the movement of goods from one place to another leading to disruptions in the supply chain. Furthermore, the market is continuing to fluctuate as the sales of new equipment have come to a standstill. This is impacting the growth of the market, as undercarriage components sales are contingent to the sales of construction equipment.
Moreover, companies are witnessing a decline in their revenues, which is also affecting production activity due to the high investment nature of the industry. This is likely to negatively impact the sales of new undercarriage components, owing to lower demand for new machines, in turn, limiting the growth of the undercarriage components market. As per the report published by Fact.MR, it is estimated that, the undercarriage components market will start showing positive signs by the second quarter of 2021.
The Analyst’s Viewpoint
“The ongoing COVID-19 pandemic has hit market players adversely on the supply side, causing declining sales of undercarriage components. However, the recovery of the global construction and mining sector, post pandemic, is foreseen to open new growth avenues for the undercarriage components market.”
Global Undercarriage Components Market: Scope of the Report
The recent global undercarriage components market report by Fact.MR offers a 10-year forecast from 2020 to 2030. The report elaborates on the key drivers, restraints, opportunities, and threats to the expansion of the global undercarriage components market. A detailed segmental analysis based on component type, equipment, end use, sales channel, and region has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution, and market value analysis provides an in-depth perspective about the future scope of the global undercarriage components market. In addition, a separate section on the market structure has also been provided. The section provides a detailed analysis of key market players and strategies for expansion in the undercarriage components market space.
Undercarriage Components Market - Scope of the Report
Fact.MR recently published a market study on the global market for undercarriage components. The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities, restraints, and detailed information about the undercarriage components market structure. The market study presents exclusive information about how the undercarriage components market will grow during the forecast period of 2020-2030.
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and Compounded Annual Growth Rate (CAGR) are explained in Fact.MR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the undercarriage components market for the forecast period.
The study is relevant for stakeholders in the undercarriage components market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the undercarriage components market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in the Fact.MR study.
The study also includes statistics as well as facts related to the macro- as well as micro-economic factors that are impacting developments in the undercarriage components market. It also offers actionable insights based on the future trends in the undercarriage components market. Furthermore, small businesses and new entrants in the undercarriage components market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Segments of Undercarriage Components Market
Fact.MR’s study on the undercarriage components market offers information divided into five key segments— component type, equipment, end use, sales channel, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
|
Component Type |
Equipment |
End Use |
Sales Channel |
Region |
|
Track Rollers/ Carrier Rollers |
Crawler Excavators |
Construction |
OEMs |
North America |
|
Track Chains |
Mini Excavators |
Mining |
Aftermarket |
Latin America |
|
Idlers & Sprockets |
Dozers |
Agriculture & Forestry |
|
Europe |
|
Track Shoes/ Rubber Tracks |
Track Loaders |
|
|
East Asia |
|
Other Components (Bushings, Seals, etc.) |
Compact Track Loaders |
|
|
South Asia & Oceania |
|
|
Crawler Cranes |
|
|
Middle East & Africa (MEA) |
Key Questions Answered in Fact.MR’s Undercarriage Components Market Report
- Which regions will continue to remain the most profitable regional markets for undercarriage components market players?
- Which factors will induce a change in the demand for undercarriage components during the assessment period?
- How will changing trends impact the undercarriage components market?
- How can market players capture the low-hanging opportunities in the undercarriage components market in developed regions?
- Which companies are leading the undercarriage components market?
- What are the winning strategies of stakeholders in the undercarriage components market to upscale their position in this landscape?
Undercarriage Components Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the undercarriage components market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the undercarriage components market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
1. Executive Summary
1.1. Global Market Overview
1.2. Global Undercarriage Components Market – Regional Overview
1.3. Analysis and Recommendations by Fact.MR
2. Market Overview
2.1. Market Introduction and Definition
2.2. Research Scope
3. Market Risks & Trends Assessment
3.1. COVID-19 Hotspot
3.2. Global COVID-19 Outbreak Intensity
3.3. Before Corona Outbreak Global GDP Scenario
3.4. After Corona Outbreak Global GDP Predictions and Comparison Of Financial Crisis with COVID 19
3.5. Impact of COVID-19 by Region
3.6. COVID-19 Impact Benchmark with Previous Crisis
3.7. Impact of Coronavirus Outbreak on Undercarriage Components Market
4. Market Background
4.1. Global Population Outlook
4.2. Global Economy Size and Share
4.3. Global Oil & Gas Sector Outlook
4.4. Global Urbanization Growth
4.5. Construction Industry Outlook
4.6. Global Earthmoving Equipment Market- Overview
4.7. Forecast Factors - Relevance & Impact
4.8. PEST Analysis
4.9. Porter’s Five Forces Analysis
5. Market Dynamics
5.1.1. Market Driving Factors
5.1.2. Prominent Market Challenges
5.1.3. Undercarriage Components Market Opportunities
5.1.4. Market Trends
6. Global Undercarriage Components Market – Price Point Analysis
7. Global Undercarriage Components Market Demand Analysis 2015-2019 and Forecast, 2020-2030
7.1. Historical Market Value and Volume (‘000 Units) Analysis, 2015-2019
7.2. Current and Future Market Value and Volume (‘000 Units) Projections, 2020-2030
8. Global Undercarriage Components Market Analysis 2015-2019 and Forecast 2020-2030, By Component Type
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Mn) and Volume Analysis By Component Type, 2015-2019
8.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Component Type, 2020-2030
8.3.1. Track Roller/Carrier Roller
8.3.2. Track Chains
8.3.3. Idlers & Sprocket
8.3.4. Track Shoe/Rubber Tracks
8.3.5. Other Components
8.4. Market Attractiveness Analysis By Component Type
9. Global Undercarriage Components Market Analysis 2015-2019 and Forecast 2020-2030, by Equipment Type
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Mn) and Volume Analysis By Equipment Type, 2015-2019
9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Equipment Type, 2020-2030
9.3.1. Crawler Excavator
9.3.2. Mini Excavator
9.3.3. Dozers
9.3.4. Track Loader
9.3.5. Compact Track Loader
9.3.6. Crawler Cranes
9.4. Market Attractiveness Analysis By Equipment Type
10. Global Undercarriage Components Market Analysis 2015-2019 and Forecast 2020-2030, by End Use
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Mn) and Volume Analysis By End Use, 2015-2019
10.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By End Use, 2020-2030
10.3.1. Construction
10.3.2. Mining
10.3.3. Agriculture & Forestry
10.4. Market Attractiveness Analysis By End Use
11. Global Undercarriage Components Market Analysis 2015-2019 and Forecast 2020-2030, by Sales Channel
11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ Mn) and Volume Analysis By Sales Channel, 2015-2019
11.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Sales Channel, 2020-2030
11.3.1. OEM
11.3.2. Aftermarket
11.4. Market Attractiveness Analysis By Sales Channel
12. Global Undercarriage Components Market Analysis 2015-2019 and Forecast 2020-2030, by Region
12.1. Introduction
12.2. Historical Market Size (US$ Mn) and Volume Analysis By Region, 2015-2019
12.3. Current Market Size (US$ Mn) and Volume Analysis and Forecast By Region, 2020-2030
12.3.1. North America
12.3.2. Latin America
12.3.3. Europe
12.3.4. East Asia
12.3.5. South Asia & Oceania
12.3.6. MEA (Middle East and Africa)
12.4. Market Attractiveness Analysis By Region
13. North America Undercarriage Components Market Analysis 2015-2019 and Forecast 2020-2030
13.1. Introduction
13.2. Historical Market Size (US$ Mn) and Volume (‘000 Units) Trend Analysis By Market Taxonomy, 2015-2019
13.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020-2030
13.3.1. By Country
13.3.1.1. U.S.
13.3.1.2. Canada
13.3.2. By Component Type
13.3.3. By Equipment Type
13.3.4. By End Use
13.3.5. By Sales Channel
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Component Type
13.4.3. By Equipment Type
13.4.4. By End Use
13.4.5. By Sales Channel
14. Latin America Undercarriage Components Market Analysis 2015-2019 and Forecast 2020-2030
14.1. Introduction
14.2. Historical Market Size (US$ Mn) and Volume (‘000 Units) Trend Analysis By Market Taxonomy, 2015-2019
14.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020-2030
14.3.1. By Country
14.3.1.1. Brazil
14.3.1.2. Mexico
14.3.1.3. Rest of Latin America
14.3.2. By Component Type
14.3.3. By Equipment Type
14.3.4. By End Use
14.3.5. By Sales Channel
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Component Type
14.4.3. By Equipment Type
14.4.4. By End Use
14.4.5. By Sales Channel
15. Europe Undercarriage Components Market Analysis 2015-2019 and Forecast 2020-2030
15.1. Introduction
15.2. Historical Market Size (US$ Mn) and Volume (‘000 Units) Trend Analysis By Market Taxonomy, 2015-2019
15.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020-2030
15.3.1. By Country
15.3.1.1. Germany
15.3.1.2. France
15.3.1.3. Italy
15.3.1.4. Spain
15.3.1.5. UK
15.3.1.6. BENELUX
15.3.1.7. Russia
15.3.1.8. Rest of Europe
15.3.2. By Component Type
15.3.3. By Equipment Type
15.3.4. By End Use
15.3.5. By Sales Channel
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Component Type
15.4.3. By Equipment Type
15.4.4. By End Use
15.4.5. By Sales Channel
16. East Asia Undercarriage Components Market Analysis 2015-2019 and Forecast 2020-2030
16.1. Introduction
16.2. Historical Market Size (US$ Mn) and Volume (‘000 Units) Trend Analysis By Market Taxonomy, 2015-2019
16.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020-2030
16.3.1. By Country
16.3.1.1. China
16.3.1.2. Japan
16.3.1.3. South Korea
16.3.2. By Component Type
16.3.3. By Equipment Type
16.3.4. By End Use
16.3.5. By Sales Channel
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Component Type
16.4.3. By Equipment Type
16.4.4. By End Use
16.4.5. By Sales Channel
17. South Asia & Oceania Undercarriage Components Market Analysis 2015-2019 and Forecast 2020-2030
17.1. Introduction
17.2. Historical Market Size (US$ Mn) and Volume (‘000 Units) Trend Analysis By Market Taxonomy, 2015-2019
17.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020-2030
17.3.1. By Country
17.3.1.1. India
17.3.1.2. Thailand
17.3.1.3. Indonesia
17.3.1.4. Malaysia
17.3.1.5. Australia
17.3.1.6. Rest of South Asia & Oceania
17.3.2. By Component Type
17.3.3. By Equipment Type
17.3.4. By End Use
17.3.5. By Sales Channel
17.4. Market Attractiveness Analysis
17.4.1. By Country
17.4.2. By Component Type
17.4.3. By Equipment Type
17.4.4. By End Use
17.4.5. By Sales Channel
18. Middle East & Africa Undercarriage Components Market Analysis 2015-2019 and Forecast 2020-2030
18.1. Introduction
18.2. Historical Market Size (US$ Mn) and Volume (‘000 Units) Trend Analysis By Market Taxonomy, 2015-2019
18.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020-2030
18.3.1. By Country
18.3.1.1. GCC Countries
18.3.1.2. Turkey
18.3.1.3. South Africa
18.3.1.4. Rest of MEA
18.3.2. By Component Type
18.3.3. By Equipment Type
18.3.4. By End Use
18.3.5. By Sales Channel
18.4. Market Attractiveness Analysis
18.4.1. By Country
18.4.2. By Component Type
18.4.3. By Equipment Type
18.4.4. By End Use
18.4.5. By Sales Channel
19. Global Undercarriage Components Market Analysis 2015-2019 and Forecast 2020-2030, Key Country Analysis
19.1. Introduction
19.2. U.S. Undercarriage Components Market
19.2.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.2.1.1. By Component
19.2.1.2. By Equipment
19.2.1.3. By End Use
19.2.1.4. By Sales Channel
19.3. Canada Undercarriage Components Market
19.3.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.3.1.1. By Component
19.3.1.2. By Equipment
19.3.1.3. By End Use
19.3.1.4. By Sales Channel
19.4. Mexico Undercarriage Components Market
19.4.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.4.1.1. By Component
19.4.1.2. By Equipment
19.4.1.3. By End Use
19.4.1.4. By Sales Channel
19.5. Brazil Undercarriage Components Market
19.5.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.5.1.1. By Component
19.5.1.2. By Equipment
19.5.1.3. By End Use
19.5.1.4. By Sales Channel
19.6. Germany Undercarriage Components Market
19.6.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.6.1.1. By Component
19.6.1.2. By Equipment
19.6.1.3. By End Use
19.6.1.4. By Sales Channel
19.7. Italy Undercarriage Components Market
19.7.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.7.1.1. By Component
19.7.1.2. By Equipment
19.7.1.3. By End Use
19.7.1.4. By Sales Channel
19.8. France Undercarriage Components Market
19.8.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.8.1.1. By Component
19.8.1.2. By Equipment
19.8.1.3. By End Use
19.8.1.4. By Sales Channel
19.9. U.K. Undercarriage Components Market
19.9.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.9.1.1. By Component
19.9.1.2. By Equipment
19.9.1.3. By End Use
19.9.1.4. By Sales Channel
19.10. Spain Undercarriage Components Market
19.10.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.10.1.1. By Component
19.10.1.2. By Equipment
19.10.1.3. By End Use
19.10.1.4. By Sales Channel
19.11. BENELUX Undercarriage Components Market
19.11.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.11.1.1. By Component
19.11.1.2. By Equipment
19.11.1.3. By End Use
19.11.1.4. By Sales Channel
19.12. Russia Undercarriage Components Market
19.12.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.12.1.1. By Component
19.12.1.2. By Equipment
19.12.1.3. By End Use
19.12.1.4. By Sales Channel
19.13. China Undercarriage Components Market
19.13.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.13.1.1. By Component
19.13.1.2. By Equipment
19.13.1.3. By End Use
19.13.1.4. By Sales Channel
19.14. Japan Undercarriage Components Market
19.14.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.14.1.1. By Component
19.14.1.2. By Equipment
19.14.1.3. By End Use
19.14.1.4. By Sales Channel
19.15. South Korea Undercarriage Components Market
19.15.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.15.1.1. By Component
19.15.1.2. By Equipment
19.15.1.3. By End Use
19.15.1.4. By Sales Channel
19.16. India Undercarriage Components Market
19.16.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.16.1.1. By Component
19.16.1.2. By Equipment
19.16.1.3. By End Use
19.16.1.4. By Sales Channel
19.17. Thailand Undercarriage Components Market
19.17.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.17.1.1. By Component
19.17.1.2. By Equipment
19.17.1.3. By End Use
19.17.1.4. By Sales Channel
19.18. Indonesia Undercarriage Components Market
19.18.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.18.1.1. By Component
19.18.1.2. By Equipment
19.18.1.3. By End Use
19.18.1.4. By Sales Channel
19.19. Malaysia Undercarriage Components Market
19.19.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.19.1.1. By Component
19.19.1.2. By Equipment
19.19.1.3. By End Use
19.19.1.4. By Sales Channel
19.20. GCC Countries `Undercarriage Components Market
19.20.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.20.1.1. By Component
19.20.1.2. By Equipment
19.20.1.3. By End Use
19.20.1.4. By Sales Channel
19.21. Turkey Undercarriage Components Market
19.21.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.21.1.1. By Component
19.21.1.2. By Equipment
19.21.1.3. By End Use
19.21.1.4. By Sales Channel
19.22. South Africa Undercarriage Components Market
19.22.1. Value (US$ Mn) Share Analysis and Forecast by Market Taxonomy
19.22.1.1. By Component
19.22.1.2. By Equipment
19.22.1.3. By End Use
19.22.1.4. By Sales Channel
20. Market Structure Analysis
20.1. Global Undercarriage Components Market Competition - a Dashboard View
20.2. Market Structure Analysis
20.3. Market Tier Structure Analysis
21. Competition Analysis
21.1. Caterpillar Inc.
21.2. Deere & Company
21.3. ThyssenKrupp AG
21.4. Komatsu Limited
21.5. Titan International, Inc.
21.6. AB Volvo
21.7. Hitachi Construction Machinery Co., Ltd.
21.8. Continental AG
21.9. Hoe Leong Corporation Ltd.
21.10. Topy Industries Ltd.
21.11. USCO SpA
21.12. Verhoeven Group
21.13. Dozco (India) Pvt. Ltd
21.14. Gemmo Group Srl
22. Research Approach
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Undercarriage Components Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030