Wheel Tractor Scrapers Market Size, Share & Industry Analysis, By Type (Standard Tractor Scraper, Ejector Tractor Scraper, Finishing Tractor Scraper), By Application (Construction, Mining, Arboriculture, Others) And Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
The government in Latin American countries, including Brazil and Mexico are making in public infrastructure development, such as airports, railway stations, and malls etc. As of 2019, the Brazilian Ministry of Infrastructure has 59 new qualified projects under its Investment Partnership Program (PPI Program), to include 22 airports, six port terminals, and 14,500 kilometers of highways to be granted to the private sector. The estimated total investment is about USD 10 billion. This will surge the demand for construction machines in these region over the forecast timeline further supplementing the wheel tractor scrapers market. In addition to that, According to The BNC Construction Intelligence, Gulf Cooperation Council (GCC) had exceeded USD 2.52 trillion by the end of June, 2019. Apart from this, major manufacturers are striving hard to build connected construction equipment at job sites to reduce labor costs, improve efficiency and productivity at every level of the operations. Also, key suppliers are emphasizing on adopting various marketing strategies mainly mergers & acquistions, joint ventures, new product development to expand its geographical presence and sustain in the global market. However, the outbreak of COVID-19 pandemic is creating repercussions in every industry around the globe and will have a drastic impact on the construction equipment industry. According to The Construction Equipment Association, United Kingdom construction equipment sales fell by 17% in Q3 of 2020. Also, the sudden lockdown announced across the globe hit hard to the rental construction equipment providers as they were unable to reach out to its customers which further resulted in disruption in managing cash outlay and meet the future rental deals. Neverteless, in the long term, the construction equipment is likely to go significantly as governmental bodies are investing heavily in infrastructure development as a strategy to recover the losses incured during the pandemic and retain its position in the global economy.
Key Market Driver -
• Increasing penetration of wheel tractor scrapers across landscaping and mining industries is driving product demand • Availability of wheel tractor scrapers on rental basis is propelling the market
Key Market Restraint -
• Stringent regulatory norms for carbon emissions is limiting market growth.
Key Players Covered:
Some of the key competitors in the wheel tractor scrapers market include AP Machinebouw B.V., Caterpillar, K-Tec Earthmovers Inc., N C Machinery, Terra Cat, Fontana s.r.l., Blount International, Inc., LEON Mfg. Company Inc., Enorossi, Yancey Bros. Co., and others.
Regional Analysis
Asia Pacific is anticipated to grow significantly in the coming years owing to the rising industrialization across developed nations mainly China, India, South Korea and other countries. Also, increase in commercial, industrial and residential construction activities and massive investments from regulatory bodies for infrastructure development is likely to fuel the product demand. Also, presence of local authorized and unauthorized Chinese players catering the local market is creating an impact on the scrappers penetration.
Followed by Asia Pacific, North America and Europe are anticipated to witness substantial growth in the forecast period, owing to the presence of major manufacturers operating in this region. Also, stringent regulatory norms and standards for carbon emissions and massive investments by major manufacturers in research and development activities to develop technological advanced product is further responsible for the market growth.
The Middle East and Africa and South America are expected to have a moderate growth in the wheel tractor scrapers market owing to burgeoning construction of high-end buildings and commercial spaces. Also, major vendors are expanding its sales and distribution channels across various geographies mainly Brazil, Turkey, GCC to cater the unattended market and expand its regional presence further creating a potential impact on the wheel tractor scrapers market.
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Segmentation
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Key Industry Developments
- December, 2020: - Caterpillar uneviled a new wheel tractor-scraper with improved onboard payload and spacious cab to boost operator comfort ideally for highway construction and mining applications.
- Ongoing
- 2023
- 2019-2022
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