Insights on Rubber Tracks Market to 2023 | Industry Statistics, Emerging Demands, Forecast to 2030 | Nintendo, Sony PlayStation Portable (PSP), Xbox Cloud Gaming

The global rubber track market is anticipated to grow at a significant CAGR of 4.2% during the forecast period. Rubber tracks are used in off-road vehicles to offer improved stability on slopes and uneven terrains. They are made of a tear-resistant compound and a mixture of natural and synthetic rubbers with steel cords and inflated metal cores. The combination provides a smoother ride, minimizing noise, and vibration on harder surfaces, and improved flexibility and floatation. The global rubber track market is growing significantly across the globe due to rising demand from end-users which includes agriculture, construction, military, and other sectors. The higher cost of rubber tracks as compared to other alternatives is estimated to be the major factor that is holding back the growth of the market in the region. The rising demand from the construction and transportation sector is boosting the rubber track market in the Asia-Pacific. Growing rubber industries are creating scope for rubber tracks across the globe especially, the EU and Asia-Pacific are considered to be the most lucrative destinations for rubber track industries.

Rubber tracks are mainly used in excavators, dozers, and pavers. In the last few years, the use of rubber tracks in tractors, industrial ATV/UTVs, forest machinery, and harvesters have increased substantially in the recent past. The producers are constantly developing innovative rubber tracks that can be utilized in heavy machinery. For instance, in 2016, Mattracks, Inc. announced the development of 400M1A1 rubber track for heavy commercial machinery that weighs up to 35,000 pounds. It has also been observed that manufacturers are focusing on designing lug patterns and newer treads to enhance the functioning stability to allow versatile track usage. The producers are emphasizing on improving the overall functionality by blending synthetic and natural rubber that is used in the manufacturing of the rubber tracks. Region-wise, Asia-Pacific is expected to dominate the rubber tracks market owing to increasing construction activities and other factors.

Military & defense are increasingly adopting rubber tracks in heavy machinery. Camso Inc., Soucy Holding Inc., and Bridgestone Corp. provides innovative rubber tracks specially designed for military machinery. For instance, Soucy provides military rubber track applications for vehicles under 25 tons, 25-35 tons and 35-45 tons. Moreover, the rubber band tracks (RBT) for vehicles under 25 metric tons provide greater mobility. Rubber tracks are almost 50% lighter than conventional steel tracks, as a result, it allows troops to add more ballistic protection and quick speed with significant fuel efficiency.

In the agriculture industry, due to industrialization, the producers are increasingly focused on sensor-equipped cutting-edge advancements for the determination of internal temperature that could provide an improved service life of components, targeted monitoring, cut-down in costs, and improved efficiency of the vehicle. However, extreme off-road conditions including iron, broken pavements, continuous transporting, and broken stones could hamper the rubber tracks market growth.

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Rubber Tracks Market - Segmentation

By Type

· Triangular Tracks

· Regular Tracks

By Product

· Tires

· Ladder Frames

· Rubber Tracks

By Application

· Agricultural Machinery

· Construction Machinery

· Military Machinery

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Rubber Tracks Market - Segment by Region

North America

· United States

· Canada

Europe

UK

Germany

Spain

France

Italy

Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of The World

· Latin America

· Middle East & Africa

Company Profiles

· Alpine Track Systems

· Bridgestone Corp.

· Camso Inc.

· Chermack Machine Inc.

· Continental AG

· DIGBITS Ltd.

· Dominion Equipment Parts, LLC

· Global Track Warehouse USA

· GRUPPO MINITOP SRL

· Leach Lewis Rubber Tracks Ltd.

· Mattracks, Inc.

· McLaren Industries, Inc.

· Prowler Industries

· Soucy Holding Inc.

· Superior Tire & Rubber Corp.

· VMT International

· Zhejiang Jiuyun Vehicle Parts Co., Ltd.

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