Ground Engaging Tool Market with COVID-19 Impact Analysis, By Type (Excavators, Dozers, Loaders, and Motor Graders), Application (Mining & Quarries, Construction, and Agriculture), and by Region (NA, EU, APAC, LA, MEA) Analysis, Size, Share, Trends, & Forecast from 2022-2028
REPORT HIGHLIGHT
Ground Engaging Tool Market size was valued at USD 6,800.3 Mn in 2021, growing at a CAGR of 19.7% from 2022 to 2028.
Ground engaging tools (GET) are instruments that make direct contact with the ground or other objects to safeguard large pieces of machinery. High wear-resistant metal parts known as ground engaging tools are used in direct contact with the ground during excavation and building projects. Popular machine categories for various industries have GET solutions available. For instance, GET equipment is frequently attached to the blades of dozers, graders, and snow ploughs as well as the buckets of excavators and loaders. Ground-engaging tools are crucial because they safeguard expensive machine parts, cut down on maintenance costs, and improve machine performance.
Market Dynamics
The burden on already-existing urban amenities like road networks and public transportation is rising as the world's urban population rises considerably. One of the key elements driving the need for greater infrastructure and its upkeep is the increase in smart cities. By implementing extremely effective transportation systems, smart cities provide improved infrastructure. In addition, as demand for transportation, social infrastructure, and utility infrastructure has grown, so has the need for affordable housing. Over the course of the forecast period, these actions are anticipated to propel the development of the construction sector and have an impact on the development of the market for ground engaging tools (GET).
Ground engaging tool (GET) innovations are increasing production and extending the life of machine parts while lowering the overall cost of machine ownership. Products from Advanced GET are designed to increase undercarriage lifetime and lower operating costs per hour for the mining, heavy construction, and oil & gas industries. Manufacturers are offering cutting-edge equipment like forged ground engagement bits that are intended to prolong the life of a bucket wheel excavator's teeth. During field operations, this particular GET uses a unique locking mechanism.
However, one of the main restraints limiting the growth for ground handling tools is uncertainty in the mining sector. Additionally, these items' longer life cycles present a significant challenge for manufacturers. As a result, the emphasis is shifted to providing maintenance services for ground-engaging instruments, preventing the repetitive sales of the products (GET). These characteristics all serve as roadblocks and limit the market expansion for ground engaging instruments.to facilitate adjustments. These elements open up new business prospects for the product.
Segmentation Analysis:
The Global Ground Engaging Tool Market is segmented on the basis of Type, Application, and Region.
The market is divided into five categories based on type: Dozers, Excavators, Loaders, Motor Graders, Others. The Excavators segment dominates the global market with 44% market share. Excavators are large pieces of construction machinery used for digging trenches, holes, and foundations. They have a boom, dipper, bucket, and cab mounted on a rotating platform. This market is being driven by the rising demand for ground engaging tools for excavators to prolong the life of machine components, boost production, and lower the overall cost of machine ownership.
Competitive Landscape:
The global market for Ground Engaging Tool is made comprises of a number of both international and local producers, making it fairly competitive sectors in the world. A key trend among the key market player is the increase in M&A, collaborations, acquisitions, and finance. Companies can quickly broaden their regional reach and current product portfolio through M&A and partnership.
To give customers greater precision and productivity, ground engaging tool manufacturers are always releasing updated models of their products. In 2022, in order to maximise safety and minimise loss by ushering in the next generation of real-time excavation monitoring, MTG launched a new Detection system suite that consists of sensory technology that has proven to accurately detect equipment failures in three seconds or less.
Key features of the study:
- This proposed research study on Ground Engaging Tool market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2022-2028), considering 2021 as the base year
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Ground Engaging Tool market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Ground Engaging Tool market
- Impact of COVID-19 on Ground Engaging Tool market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Ground Engaging Tool market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the Ground Engaging Tool market, we have also included competitive landscape and key innovator analysis for the Ground Engaging Tool market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Ground Engaging Tool market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global Ground Engaging Tool market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL GROUND ENGAGING TOOL MARKET KEY PLAYERS
- Caterpillar
- Bradken
- MTG
- Komatsu
- Black Cat Blades
- Hitachi Construction Machinery
- John Deere
- Atlas-Copco
- Sandvik
- Liebherr
GLOBAL GROUND ENGAGING TOOL MARKET, BY TYPE
- Excavators
- Dozers
- Loaders
- Motor Graders
- Others
GLOBAL GROUND ENGAGING TOOL MARKET, BY APPLICATION
- Mining & Quarries
- Construction
- Agriculture
- Others
GLOBAL GROUND ENGAGING TOOL MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA
TABLE OF CONTENT
1. Ground Engaging Tool Market Overview
1.1. Study Scope
2. Executive Summary
2.1. Market Snippet
2.1.1. Market Snippet by Type
2.1.2. Market Snippet by Application
2.1.3. Market Snippet by Country
2.1.4. Market Snippet by Region
2.2. Competitive Insights
3. Ground Engaging Tool Key Market Trends
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. Ground Engaging Tool Industry Study
4.1. PEST Analysis
4.2. Porter’s Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Ground Engaging Tool Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Ground Engaging Tool Market Landscape
6.1. Market Share Analysis, 2021
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players’ Analysis
6.2.2. Emerging Players’ Analysis
7. Ground Engaging Tool Market – By Type
7.1. Overview
7.1.1. Segment Share Analysis, By Type, 2021 & 2028 (%)
7.1.2. Excavators
7.1.3. Dozers
7.1.4. Loaders
7.1.5. Motor Graders
7.1.6. Others
8. Ground Engaging Tool Market – By Application
8.1. Overview
8.1.1. Segment Share Analysis, By Application, 2021 & 2028 (%)
8.1.2. Cast Iron
8.1.3. Mining & Quarries
8.1.4. Construction
8.1.5. Agriculture
8.1.6. Others
9. Ground Engaging Tool Market– By Geography
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2021 & 2028 (%)
9.2. North America
9.2.1. Overview
9.2.2. Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
9.2.4. North America Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.2.5. North America Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.2.6. U.S.
9.2.6.1. Overview
9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.2.6.3. U.S. Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.2.6.4. U.S. Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.2.7. Canada
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.2.7.3. Canada Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.2.7.4. Canada Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.3. Europe
9.3.1. Overview
9.3.2. Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
9.3.4. Europe Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.3.5. Europe Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.3.6. Germany
9.3.6.1. Overview
9.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.6.3. Germany Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.3.6.4. Germany Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.3.7. Italy
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.7.3. Italy Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.3.7.4. Italy Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.3.8. United Kingdom
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.8.3. United Kingdom Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.3.8.4. United Kingdom Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.3.9. France
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.9.3. France Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.3.9.4. France Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.3.10. Russia
9.3.10.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.10.2. Russia Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.3.10.3. Russia Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.3.11. Netherlands
9.3.11.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.11.2. Netherlands Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.3.11.3. Netherlands Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.3.12. Sweden
9.3.12.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.12.2. Sweden Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.3.12.3. Sweden Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.3.13. Poland
9.3.13.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.13.2. Poland Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.3.13.3. Poland Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.3.14. Rest of Europe
9.3.14.1. Overview
9.3.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.14.3. Rest of the Europe Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.3.14.4. Rest of the Europe Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.4. Asia Pacific (APAC)
9.4.1. Overview
9.4.2. Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
9.4.4. Asia Pacific Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.4.5. Asia Pacific Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.4.6. India
9.4.6.1. Overview
9.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.6.3. India Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.4.6.4. India Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.4.7. China
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.7.3. China Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.4.7.4. China Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.4.8. Japan
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.8.3. Japan Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.4.8.4. Japan Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.4.9. South Korea
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.9.3. South Korea Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.4.9.4. South Korea Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.4.10. Australia
9.4.10.1. Overview
9.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.10.3. Australia Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.4.10.4. Australia Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.4.11. Thailand
9.4.11.1. Overview
9.4.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.11.3. Thailand Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.4.11.4. Thailand Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.4.12. Indonesia
9.4.12.1. Overview
9.4.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.12.3. Indonesia Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.4.12.4. Indonesia Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.4.13. Philippines
9.4.13.1. Overview
9.4.13.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.13.3. Philippines Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.4.13.4. Philippines Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.4.14. Rest of APAC
9.4.14.1. Overview
9.4.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.14.3. Rest of APAC Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.4.14.4. Rest of APAC Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.5. Latin America
9.5.1. Overview
9.5.2. Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
9.5.4. Latin America Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.5.5. Latin America Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.5.6. Brazil
9.5.6.1. Overview
9.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.5.6.3. Brazil Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.5.6.4. Brazil Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.5.7. Mexico
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.5.7.3. Mexico Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.5.7.4. Mexico Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.5.8. Argentina
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.5.8.3. Argentina Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.5.8.4. Argentina Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.5.9. Colombia
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.5.9.3. Colombia Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.5.9.4. Colombia Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.5.10. Rest of LATAM
9.5.10.1. Overview
9.5.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.5.10.3. Rest of LATAM Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.5.10.4. Rest of LATAM Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
9.6.4. Middle East and Africa Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.6.5. Middle East and Africa Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.6.6. Saudi Arabia
9.6.6.1. Overview
9.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.6.3. Saudi Arabia Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.6.6.4. Saudi Arabia Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.6.7. United Arab Emirates
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.7.3. United Arab Emirates Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.6.7.4. United Arab Emirates Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.6.8. Israel
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.8.3. Israel Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.6.8.4. Israel Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.6.9. Turkey
9.6.9.1. Overview
9.6.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.9.3. Turkey Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.6.9.4. Turkey Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.6.10. Algeria
9.6.10.1. Overview
9.6.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.10.3. Algeria Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.6.10.4. Algeria Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.6.11. Egypt
9.6.11.1. Overview
9.6.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.11.3. Egypt Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.6.11.4. Egypt Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
9.6.12. Rest of MEA
9.6.12.1. Overview
9.6.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.12.3. Rest of MEA Market Size and Forecast, By Type, 2017 - 2028 (US$ Million)
9.6.12.4. Rest of MEA Market Size and Forecast, By Application, 2017 - 2028 (US$ Million)
10. Key Vendor Analysis
10.1. Competitive Dashboard
10.2. Company Profiles
10.2.1. Caterpillar
10.2.2. Bradken
10.2.3. MTG
10.2.4. Komatsu
10.2.5. Black Cat Blades
10.2.6. Hitachi Construction Machinery
10.2.7. John Deere
10.2.8. Atlas-Copco
10.2.9. Sandvik
10.2.10. Liebherr
11. 360 Degree Analyst View
12. Appendix
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us
