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Dozer Market 2024 - By Size, Share, Forecast And Trends Analysis Report 2033
Dozer Market
According to The Business Research Company's, the dozer market size has grown strongly in recent years. It will grow from $1.32 billion in 2023 to $1.45 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to environmental awareness and regulations, government incentives and subsidies, consumer demand for fuel efficiency, global efforts to combat climate change, infrastructure development for electric vehicles..
The dozer market size is expected to see strong growth in the next few years. It will grow to $2.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to evolving automotive regulatory landscape, expanding charging infrastructure, rising energy efficiency standards, cost reductions in battery manufacturing, global market competition and innovation, consumer perception and awareness.. Major trends in the forecast period include adoption of silicon carbide (sic) and gallium nitride (gan) semiconductors, integration of regenerative braking systems, shift towards multi-motor configurations, development of direct drive systems, integration of predictive maintenance technologies, focus on scalability and modularity in drivetrain design..
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Market Drivers and Trends:
The increasing construction activities are expected to propel the growth of the dozer market going forward. Construction activities refer to the various tasks and processes involved in the creation, modification, or maintenance of structures, buildings, infrastructure, and other physical facilities. Dozers play a crucial role in various construction activities due to their versatility, efficiency, and ability to handle heavy-duty tasks. For instance, in September 2021, according to a report published by Oxford Economics, a UK-based economic information services company, the global construction production was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion. Therefore, the increasing construction activities are driving the growth of the dozer market.
Major companies operating in the dozer market are focusing on developing innovative unmanned bulldozer variants to provide reliable services to their customers. An unmanned bulldozer, also known as an autonomous bulldozer, is a type of construction equipment that operates without the need for a human operator on board by utilizing advanced technology to perform various tasks. For instance, in September 2022, Shantui Construction Machinery Co. Ltd., a China-based construction machinery manufacturing company launched the world's first unmanned bulldozer. With this bulldozer, autonomous operation is made possible by a robust processing system, precise positioning technology, and a 5G connection. Using these autonomous machines on building sites would save labor costs and result in several safety benefits.
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Major Key Players of the Market:
Hitachi Construction Machinery Co. Ltd., Caterpillar Inc., Deere & Company, Mitsubishi Heavy Industries Ltd. , Komatsu Ltd., CNH Industrial N.V., Kubota Corporation, Xuzhou Construction Machinery Group Co. Ltd., Liebherr International AG, Volvo Construction Equipment AB, Yanmar Co. Ltd. , Bobcat Company, BEML Limited, Sany Group Co. Ltd., YTO Group Corporation, Liugong Machinery Co. Ltd., Guangxi Liugong Machinery Co. Ltd., Shandong Shantui Construction Machinery Import & Export Co. Ltd., Bell Equipment Co SA , Kobelco Construction Machinery Co. Ltd. , Rockland Manufacturing Company, Dressta Co. Ltd., Zoomlion Heavy Industry Science & Technology Co. Ltd., Doosan Infracore Construction Equipment, Chelyabinsk Tractor Plant
Dozer Market 2024 Key Insights:
• The dozer market is expected to grow to $2.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%.
• Construction Boom Ignites Dozer Market Growth
• Increasing Focus On Innovative Products Such As Unmanned Bulldozer Variant To Provide Reliable Services To Their Customers
• Asia-Pacific was the largest region in the dozer market in 2023
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