Press release
2025 Ground Engaging Tools (GET) Industry Trends Report: Long-Term Outlook Through 2034
Ground Engaging Tools (GET)
How Large Will the Ground Engaging Tools (GET) Market Size By 2025?
The market size for ground engaging tools (GET) has seen a significant increase in recent times. It is predicted to rise from $7.92 billion in 2024 to $8.38 billion in 2025, growing at a compound annual growth rate (CAGR) of 5.8%. The growth witnessed in the past is due to a surge in the use of precision and automated construction equipment, heightened consciousness about optimizing equipment lifecycle costs, increasing need to replace worn-out tools, and a heightened emphasis on safety and productivity in construction and mining sites. Furthermore, the ongoing trend of mechanization in the agriculture and forestry sectors also contributes to this growth.
How Big Is the Ground Engaging Tools (GET) Market Size Expected to Grow by 2029?
It's predicted that the market size of ground engaging tools (GET) will witness robust growth in the upcoming years, reaching $10.37 billion in 2029 with a compound annual growth rate (CAGR) of 5.5%. This growth in the forthcoming period is due to factors such as the escalating demand for construction and infrastructure advancements, growing investments in mining operations, widening urbanization and industrialization, a surge in focus towards equipment efficiency and productivity, and increased government expenditure on public infrastructure, including roads and railways. Key trends projected for the forecast period include progress in wear-resistant materials, the evolution of 3D printing technology, advancements in surface treatment technologies, the inclusion of autonomous and semi-autonomous equipment, and technology-fueled enhancements in casting and forging procedures.
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Which Key Market Drivers Powering Ground Engaging Tools (GET) Market Expansion and Growth?
The ground engaging tools (GET) market is anticipated to expand due to the escalating mining activities. These activities involve the extraction and processing of diverse geological materials and minerals from the earth, utilizing methods like drilling, blasting, and excavation. Rapid industrialization in developing economies, which boosts the demand for essential manufacturing minerals and metals, is behind the increase in mining activities. Ground engaging tools (GET) augment mining operations by enhancing the durability and efficiency of machinery used in the cutting, digging, and transportation of earth and rock, which in turn maximizes productivity and reduces equipment downtime. For example, Statistics Botswana, a statistics bureau in Botswana, reported in June 2022 that during the first quarter of 2022, the mining production index hit 97.0, which is a 30.4% growth in comparison to the 74.4 reported in the same quarter of 2021. Therefore, the rise in mining activities is stimulating the expansion of the ground engaging tools (GET) market.
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Which Fast-Growing Trends Are Poised to Disrupt the Ground Engaging Tools (GET) Market?
Major corporations in the ground engaging tools (GET) market are directing their efforts towards the development of innovative ideas like hammerless locking systems. The aim is to make component replacement quicker, safer, and to enhance the overall efficiency of operations. The concept of a hammerless locking system is a design created to increase safety by allowing for the swift, tool-free installation or removal of GET components without needing hammers. For example, MTG Systems, a manufacturing firm based in Spain, launched VEEMET in April 2023. This next-gen tooth system provides enhanced stability, optimized hammerless locking for safe and efficient tooth replacement, and exceptional penetration, improving productivity and prolonging machine uptime in mining and construction fields. Its digital integration coupled with a QR code feature offers continuous tracking and immediate entry to product data, which contributes to decreased downtime and operational expenses.
What Are the Emerging Segments in the Ground Engaging Tools (GET) Market?
The ground engaging tools (GET) market covered in this report is segmented -
1) By Product Type: Bucket Teeth, Adapters, Cutting Edges, Blades, Rippers, Other Product Types
2) By Material: Steel, Alloy Steel, Cast Iron, Polyurethane, Ceramic
3) By Application: Excavation, Loading, Grading, Trenching, Other Application
4) By End User: Construction, Mining, Agriculture, Other End Users
Subsegments:
1) By Bucket Teeth: Standard Teeth, Tiger Teeth, Rock Penetration Teeth
2) By Adapters: Weld-On Adapters, Corner Adapters, Bolt-On Adapters
3) By Cutting Edges: Double Bevel Flat, Serrated Cutting Edges, Single Bevel Flat
4) By Blades: Dozer Blades, Loader Blades, Grader Blades
5) By Rippers: Single Shank Rippers, Parabolic Rippers, Multi-Shank Rippers
6) By Other Product Types: Side Cutters, Shrouds, End Bits
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Who Are the Global Leaders in the Ground Engaging Tools (GET) Market?
Major Companies operating in the ground engaging tools (GET) market are Caterpillar Inc., John Deere, Komatsu Ltd., Liebherr Group, Doosan Corporation, Sandvik AB, Volvo Construction Equipment, Hitachi Construction Machinery, The Weir Group, Bradken Limited, Black Cat Wear Parts, Hensley Industries Inc., MTG S.A. Metalogenia, Columbia Steel Casting Co., WALKSON, BYG S.A., 2MT Mining Products Pty Ltd, Valley Blades Inc., Wilson Engineering Industries Pvt. Ltd, Ningbo Sanjin.
Which are the Top Profitable Regional Markets for the Ground Engaging Tools (GET) Industry?
North America was the largest region in the ground engaging tools (GET) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ground engaging tools (GET) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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