Press release
Undercarriage Components Market Expanding at USD 16.7 Billion by 2035 | Key Players: Dozco Pvt. Ltd, Gemmo Group Srl, Hitachi Construction Machinery Co., Ltd., Hoe Leong Corporation Ltd
Browse Full Report: https://www.factmr.com/report/1623/undercarriage-components-market
Why Is the Market Expanding?
Global infrastructure investments, reaching USD 3.7 trillion in 2024, drive demand for undercarriage components like tracks, rollers, and sprockets, essential for heavy machinery in construction and mining. The construction sector, with projects like the U.S.'s USD 1.2 trillion Infrastructure Investment and Jobs Act, boosts demand by 7% annually. Agricultural machinery, with global sales of 2.1 million units in 2024, relies on durable components for enhanced traction.
Technological advancements, such as Caterpillar's 2021 maintenance-free track chains lasting 4,000 hours, improve efficiency by 15%. The rise of electric and hybrid excavators, with 10% market adoption in 2024, requires specialized components, further fueling growth. Counterfeit products, impacting 10% of sales, are countered by OEMs offering wear-resistant technologies, reducing maintenance costs by 12%.
What Are the Key Market Projections?
The market is set to create an absolute dollar opportunity of USD 5.5 billion by 2035, growing from USD 11.2 billion in 2025 to USD 16.7 billion at a 4.1% CAGR. The crawler excavator segment, holding a 33% share in 2025, is projected to grow at a 4.5% CAGR, generating USD 1.8 billion in opportunities due to its widespread use in construction. Asia-Pacific, with a 46% share in 2025, leads with a 5.0% CAGR, driven by China's USD 1 trillion infrastructure projects and India's smart city initiatives.
North America, growing at a 3.8% CAGR, benefits from U.S. construction spending of USD 2 trillion in 2024. Historical growth (2017-2021) was negative at -2.1% due to economic slowdowns, but recovery is strong. Short-term growth (2025-2028) focuses on construction, while long-term trends (2029-2035) emphasize agriculture and mining.
How Can Stakeholders Capitalize on Opportunities?
Stakeholders in construction, mining, and agriculture can leverage opportunities by investing in advanced components, like Komatsu's 2024 IoT-enabled rollers, reducing downtime by 20% through predictive maintenance. Partnerships, such as Hitachi's 2023 collaboration with Indian contractors, enhance market reach in Asia-Pacific, projected to account for 50% of demand by 2030. Focusing on aftermarket sales, contributing 55% of revenue in 2025, ensures scalability due to frequent component replacements. Compliance with ISO and OSHA standards boosts market trust, while targeting high-growth markets like India, with a 6% CAGR, unlocks potential. Rental services, adopted by 30% of contractors in 2024, reduce upfront costs, driving demand for durable components.
What Does the Report Cover?
Fact.MR's report analyzes the Undercarriage Components Market across 30+ countries, covering segments by component type (track chains, rollers, idlers, sprockets, track shoes/rubber tracks), equipment type (crawler excavators, dozers, track loaders, crawler cranes), end-use (construction, mining, agriculture, forestry), and region (North America, Latin America, Europe, East Asia, South Asia & Oceania, Middle East & Africa). It highlights trends like IoT integration, modular designs, and sustainable manufacturing. Combining primary research from industry experts and secondary data, the report provides actionable insights into market dynamics, competitive strategies, and growth opportunities through 2035.
For More Insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=1623
Who Are the Market Leaders?
Key players include Caterpillar Inc., Komatsu Ltd., Deere & Company, Hitachi Construction Machinery, and AB Volvo. Caterpillar's 2021 advanced track undercarriage systems, with 4,000-hour maintenance-free chains, strengthened its market share.
Komatsu's 2024 IoT-enabled components gained traction in mining. These companies, holding over 50% of the market, drive innovation through R&D and acquisitions, like Dorman Products' 2021 purchase of Dayton Parts for USD 338 million. Regional players like Dozco Pvt. Ltd. focus on cost-effective solutions for Asia-Pacific, enhancing competitiveness. Strategic expansions, like ThyssenKrupp's 2023 facility in China, bolster market presence.
What Are the Latest Market Developments?
In 2024, global construction spending reached USD 12 trillion, boosting undercarriage component demand by 8%. Asia-Pacific's 46% share reflects China's 20% increase in infrastructure projects. Europe's growth, driven by a 10% rise in green construction, aligns with EU's 2024 sustainability mandates.
Innovations like ASV Holdings' 2021 MAX-Series RT-135 loader with enhanced tracks improved load distribution by 15%. The rise of electric excavators, with 5,000 units sold globally in 2024, supports specialized component demand. Regulatory advancements, such as stricter emission norms, increased adoption of hybrid machinery by 12%. Aftermarket sales grew by 10%, driven by frequent replacements.
What Challenges and Solutions Exist?
High maintenance costs, averaging USD 5,000 per unit annually, and counterfeit products, impacting 10% of sales, pose challenges. Supply chain disruptions, affecting 15% of deliveries in 2024, and skilled labor shortages, impacting 10% of operations, hinder growth. Solutions include modular systems, reducing maintenance costs by 15%, and high-strength steel components, improving durability by 20%.
Localized production in Asia-Pacific, adopted by 25% of manufacturers, mitigates supply risks. Training programs, implemented by 15% of U.S. firms, address labor shortages. Compliance with EPA and EU standards ensures environmental safety, while anti-counterfeit measures, like Caterpillar's 2024 QR-code tracking, boost market trust.
Conclusion:
The Global Undercarriage Components Market is set to reach USD 16.7 billion by 2035, driven by a 4.1% CAGR. With robust demand from construction and agriculture, infrastructure growth, and technological advancements, the market offers significant opportunities. Stakeholders can leverage Fact.MR's insights to target high-growth regions like Asia-Pacific, invest in innovative and sustainable solutions, and address cost and counterfeit challenges to thrive in this critical industry.
Check out More Related Studies Published by Fact.MR:
Automotive Brake Components Market: https://www.factmr.com/report/24/automotive-brake-component-market
Automotive Powertrain Components Market: https://www.factmr.com/report/888/automotive-powertrain-components-market
Heavy Vehicles Suspension Anti-vibration Components Market: https://www.factmr.com/report/1248/heavy-vehicles-suspension-anti-vibration-components-market
Automotive Sheet Metal Components Market: https://www.factmr.com/report/1507/automotive-sheet-metal-components-market
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232
Email: sales@factmr.com
About Fact.MR:
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Undercarriage Components Market Expanding at USD 16.7 Billion by 2035 | Key Players: Dozco Pvt. Ltd, Gemmo Group Srl, Hitachi Construction Machinery Co., Ltd., Hoe Leong Corporation Ltd here
News-ID: 4126840 • Views: …
More Releases from Fact.MR
Trauma Devices Market is Estimated to Reach USD 29.1 Billion by 2035 | DePuy Syn …
Fact.MR today released its latest report on the Trauma Devices Market, providing comprehensive insights into the global market's robust growth driven by rising traumatic injuries, advancements in medical technologies, and increasing global awareness of trauma care. Valued at USD 12.9 billion in 2025, the market is projected to expand at a compound annual growth rate (CAGR) of 8.7%, reaching USD 29.1 billion by 2035.
For More Insights into the Market,…
Microbiome Therapeutics Market is Projected to Reach USD 3,121.8 Million by 2035 …
The global microbiome therapeutics market is valued at USD 823.5 million in 2025 and is projected to grow at a compound annual growth rate (CAGR) of 14.2%, reaching USD 3,121.8 million by 2035. This robust expansion is driven by the increasing recognition of the human microbiome's role in managing chronic diseases, combined with rising investments in precision medicine and biotechnology innovation. As research uncovers the microbiome's influence on health conditions…
Insulin Patch Pumps Market is Anticipated to Reach USD 4.29 Billion by 2035
The global insulin patch pumps market is poised for substantial growth, with its valuation expected to rise from USD 1.42 billion in 2025 to USD 4.29 billion by 2035, reflecting a robust compound annual growth rate (CAGR) of 11.7%. This expansion is primarily driven by the escalating prevalence of diabetes worldwide and the increasing demand for convenient, discreet insulin delivery devices. As patients seek wearable insulin management systems that offer…
Wearable Payment Devices Market is Expanding USD 133.09 Billion by 2034 | Fact.M …
The global wearable payment devices market is valued at USD 33.47 billion in 2024 and is projected to expand to USD 133.09 billion by 2034, growing at a compound annual growth rate (CAGR) of 14.8%. This impressive growth is driven by the increasing adoption of contactless payment technologies, advancements in wearable devices, and rising consumer preference for convenient, secure transaction methods.
For More Insights into the Market, Request a Sample…
More Releases for USD
Chlorella Market Reach USD 465.85 Million USD by 2030
Market Growth Fueled by Increased Adoption of Plant-Based Proteins and Health Supplements
Global Chlorella Market size was valued at USD 303.75 Mn. in 2023 and the total Chlorella revenue is expected to grow by 6.3 % from 2024 to 2030, reaching nearly USD 465.85 Mn. . The growth of the market is majorly due to increase in the consumer awareness about health, the inclination towards plant-based food such as chlorella and…
Bamboo Clothing Market: USD 1.83B to USD 3.27B by 2030
Bamboo Clothing Market Poised for Robust Growth with Sustainability and Eco-Friendly Trends Driving Demand
The global bamboo clothing market is experiencing substantial growth, spurred by a significant shift towards sustainable fashion and eco-friendly materials. As consumers become increasingly conscious of their environmental impact, bamboo fabric-known for its natural, biodegradable properties-is gaining popularity in the fashion industry. This market is expected to continue its upward trajectory, driven by rising demand for eco-conscious…
Biometrics Market: "Biometrics: USD 34.3B to USD 112.4B by 2031"
Biometrics Market Market Scope:
Key Insights : Biometrics Market size was valued at USD 34.3 billion in 2022 and is poised to grow from USD 39.1 billion in 2023 to USD 112.4 billion by 2031, growing at a CAGR of 14.1% during the forecast period (2024-2031).
Discover Your Competitive Edge with a Free Sample Report :https://www.skyquestt.com/sample-request/biometrics-market
Access the full 2024 Market report for a comprehensive understanding @https://www.skyquestt.com/report/biometrics-market
In-Depth Exploration of the global Biometrics…
Advanced (3D/4D) Visualization Systems Market Size, Trends, Growth, Share to sur …
Fatpos Global has carefully studied specific areas, such as application and product type, in the global Advanced (3D/4D) Visualization Systems Market research study. During the predicted period of 2022 to 2032, each kind gives data on sales. The Advanced (3D/4D) Visualization Systems Market analysis examines into the characteristics and financials of the leading participants.
As per the analysis research report, the Advanced (3D/4D) Visualization Systems Market to…
$100,000,000 USD job contract for travel - $3,000,000 USD referral commission.
Khoja Consultants invites companies, teams or venture capitalists for a $100,000,000 USD contract for travel. The selected company will be providing all accommodations and expenses for a 6-month long business trip around the world. Khoja Consultants expects five-star treatment including close security with private planes, hotels, secured vehicles and helicopters if necessary. More details on the job contract and application are provided at - www.KhojaConsultants.com.
There is a $3,000,000…
IOT Solutions Market worth USD 553.9 million USD by 2026
"The global IoT solutions market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cybersecurity as a service market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa."
These days many businesses are adopting a market research report…
