India Rubber Crawler Market Size Study, By Type, Application, And Regional Forecasts 2018-2028
Bharat Book Bureau Provides the Trending Market Research Report on “India Rubber Crawler Market By Equipment Type (Bulldozers, Excavators, Multi Terrain Loaders, Track Loaders, Backhoe Loaders, Skid Steer Loaders, Military Vehicles, Others), By Material (Natural Rubber, Synthetic Rubber), By Demand Category (OEM, Aftermarket), By Aftermarket (Genuine Products, Duplicated Products), By End Use (Construction & Mining, Agriculture, Military), By Region, Competition, Forecast & Opportunities, 2018-2028” under the Automotive Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
India rubber crawler Market is expected to grow from USD100.51 million in 2022 to USD142.14 million by 2028, registering a CAGR of 6.37% by 2028. India is heading toward rapid development in infrastructure activities, high production in agriculture and technological advancement in military vehicles through various government initiatives which involves increasing use of crawler vehicles for higher productivity and better control of vehicle on uneven surfaces resulting in increasing demand for rubber crawler across all regions and consequently drive the India rubber crawler market in the upcoming years.
India rubber crawler market is divided into eight segments based on equipment type such as bulldozers, excavators, multi terrain loaders, track loaders, backhoe loaders, skid steer loaders, military vehicles, and others. Excavator segment dominates in terms of market share and is leading the segment as it is widely used in construction & mining, agriculture, and military leading to a higher number of crawler vehicles sales in 2022. Military vehicles capture second largest share in equipment type segment. Aftermarket dominates the demand category segment as the fleet size of crawler vehicles in all vehicle types is expected to increase throughout forecasted period. Furthermore, aftermarket is divided into duplicate and genuine products. India rubber crawler market is further classified by end use into construction & mining, agriculture, and military. Bridgestone, with its strong brand reputation dominates in supplying rubber crawlers to OEM’s (Original Equipment Manufacturers).
Due to outbreak of COVID-19, there was disruption in supply chain and sudden halt in production of OEM equipment, which resulted in drop in sales of rubber crawlers in 2021. However, in 2022 demand for rubber crawler has shown recovery in sales volume.
Development Of Agrarian Economy
From government statistics, the agriculture sector in India contributes about 17% of India's GDP. The agriculture sector is expanding globally because of ongoing modernization and use of heavy equipment and vehicles in farming industry to increase productivity. Various types of vehicles including crawler vehicles are being introduced in agriculture which aids in overcoming the challenges accounting for higher productivity. The country's need for rubber crawlers is being significantly fueled by the growing use of agricultural equipment vehicles. The companies are improving lifespan of rubber crawler while being cost effective as well.
About Bharat Book Bureau:
Bharat Book is Your One-Stop-Shop with an exhaustive coverage of 15,00,000 reports and insights that includes latest Market Study, Market Trends & Analysis, Forecasts Customized Intelligence, Newsletters and Online Databases. Overall a comprehensive coverage of major industries with a further segmentation of 100+ subsectors.
Contact us at:
Bharat Book Bureau
Tel: +91 22 27810772 / 27810773
|Related Link: Click here to visit item owner's website (0 hit)|
|Target Prov.: All Provinces|
Target City : All Cities
Last Update : Oct 04, 2022 3:35 AM
Number of Views: 29
|Item Owner : Kartik|
Contact Phone: 02227810772
|Friendly reminder: Click here to read some tips.|