Small Bulldozers Market Forecast and CAGR
According to the latest research by Fact MR., the small bulldozers market is set to witness stable growth during 2021-2031. In short term, the demand will show a steady growth potential with an optimistic growth outlook in the long run.
The rise in the usage of machinery and automation to ease human work across industries such as construction, mining and agriculture increased the application of small bulldozers. Moreover, the increase in production and demand for off-road vehicles augment the growth during the forecast period. Mining and construction works are expected to show rapid growth owing to the growth of technology and development globally.
Even globally various countries’ governments are spending more on transportation and infrastructure development. The increased investment in infrastructure development and transportation is likely to boost global demand.
What is Driving Demand for Small Bulldozers?
Countries throughout the globe are experiencing heavy traffic in terms of the use of construction equipment. A remarkable growth in the construction industry along with rapid industrialization globally witnessing the growth of advanced construction equipment.
Most of the developing nations are focusing on infrastructure development which led to increasing demand for advanced construction equipment. Small bulldozers are specially chosen by those countries to meet the requirement of construction works, which includes road construction, building construction, railway, airport etc.
The equipment is mostly preferred for road reconstruction works. Metro projects in developing economies are also utilising small equipment for better underground construction works.
Furthermore, governments of several countries are taking initiatives to provide better infrastructure and road connectivity to the small towns and villages. The development in roadways and infrastructure in rural areas drives the demands for small construction equipment.
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Construction Project Restoration Escalate Small Bulldozers Sales
Covid-19 destroyed almost every industry globally. The construction equipment industry is also one among them. The pandemic enforced to shut down construction project across the globe which directly impacted the sale of small bulldozers.
The demand disruption continued till the second quarter of 2020. From the third quarter of 2020 the market started taking a moderate pace of growth due to relaxation on restriction. The fourth quarter witnessed the high demand for advanced construction equipment and its sale, which led to increase in the sale of the small bulldozer in the same period.
Construction industry is one of the fast growing industry, globally the construction industry contributes over 15% of world GDP and valued at approx. USD 13 trillion. Every year throughout the globe approx. 1.2 million units of construction equipment have been sold owing to the fast growing infrastructure development. Despite of market diminution, the demand for construction equipment set to grow at a fast pace owing to the never-ending construction activity globally.
China & India Small Bulldozers Market Outlook
The Asia Pacific is one of the prominent region for the small construction equipment market globally. China and India are known for the highest consumption of small construction machinery and equipment globally. Owing to the rapid urbanization and industrialization the region is expected to show a rapid demand hike during the forecast period.
China is known for its highest population which led to the highest infrastructure growth in the country. China witnessed for world’s second-largest road network which also implies the high use of small bulldozer in road building. Additionally, the country’s industrialization growing at a high pace & industries like plastic, chemical, mining etc. are showcasing a high demand for small bulldozer for construction and other related work. Furthermore, the increasing number of small to medium scale oil refinery construction drives the requirement of small construction.
India is also one of the prominent region after China, the country has a huge customer base in terms of small machinery and equipment usage. The country's small construction equipment market is expected to show substantial growth during the forecast period. India is one of the fastest-growing economies in the globe owing to the fast-growing infrastructural development initiatives by the government as well as the private players.
The infrastructure development of villages, towns and smart cities boost up the requirement for small bulldozers in the country. In addition, construction projects such as Delhi - Mumbai industrial highway and the golden corridor would expedite the demand for large as well as small construction equipment in the region.
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Europe Demand Outlook for Small Bulldozers
Most of the fast-growing countries in Europe have been severely impacted by the COVID-19 pandemic. Most of the industries shut down and witnessed high economic imbalance in the region.
Europe is known for huge investment in the transportation sector and the region possess on of the advance transportation system globally. Additionally, the construction industry in the region contributes over 9% of the overall European GDP.
Investment in major construction projects in the region always witnessed the requirement of small construction equipments. For instance, the London Crossrail project expected to cost over US$ 20.41 billion upon completion, Fehman Belt Fixed Link (Denmark) cost over US$ 7.58 billion.
Despite the COVID-19 challenges, most European countries were able to recover their economy to a certain extent. Countries such as Germany, France and Italy who experienced heavy traffic in the market growth due to COVID-19 also witnessed a fast recovery.
In Europe, Germany has the most demand for small machinery and equipment owing to the rapid development in transport infrastructure. Additionally, the fast-growing residential construction in France expected to drive the demand for the small construction equipment. Government initiatives towards the big city plan in England aim to construct more than 4000 new building and houses and reconstructing street station also witnessing for the small bulldozer demand growth.
Countries residing in BENELUX and other regions of Europe also showcasing high demand for a construction machinery and equipment due to an increase in spending towards urbanization and comfort living.
Who are the Key Manufacturers and Suppliers of Small Bulldozers?
Some of the leading manufacturers and suppliers of small bulldozers include Liebert-International Deutschland GmbH, Komatsu Ltd., CNH Industrial N.V, Caterpillar, Shantui Construction Machinery Co., Ltd., Deere & Company, LiuGong Dressta Machinery, Kubota Corporation, Volvo Construction Equipment AB and others.
Most of the leading manufacture globally adopting the organic and inorganic strategy to survive in the market. The manufacturers are dealing with a highly competitive market, where the customer gets to choose from many.
The manufacturers who focus on quality and price at the same time able to grab more customer attention which leads to an increase in sales volume. Providing robust service to customers in need of hour, makes the manufacturers more viable and by offering feasible work specific solution customers are also being attracted by the manufacturers.
An Adaptive Approach to Modern-day Research Needs
Small bulldozers Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
- Crawler Bulldozer
- Wheeled Bulldozers
By Operating Weight
- less than 20,000 lb
- 20,000-60,000 lb
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- South Africa
- Other Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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