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The global crawler dozers market size is projected to reach USD 10.22 billion by the end of 2027. The rising investments by SMEs indicate the potential held by crawler dozers across the world. According to a report published by Fortune Business Insights, titled “Crawler Dozers Market Size, Share & COVID-19 Impact Analysis, By Horsepower (Less than 300 HP, 300 - 600 HP & More than 600 HP), By Application (Construction, Mining, Agriculture & Others), and Regional Forecast, 2020-2027,” the market was worth USD 6.51 billion in 2019 and will exhibit a CAGR of 5.9% during the forecast period, 2020-2027.
Crawler dozers are machines that are mounted with a high-load spade and are used to move and shove huge volume of debris and other materials including soil, sand, and rubble. The rising applications of this, driven by the increasing building and road construction activities will have a huge impact on the growth of the overall market in the foreseeable future. Technological intervention has played a massive role in the growth of the market in the coming years. The increasing investments in the integration of technologically sound concepts have yielded a few exceptional products in recent years. Moreover, the presence of several large scale companies in this sector will have a huge impact on the growth of the overall market in the foreseeable future. The
efforts taken to construct seamless roads as well as visually appealing construction will lead to a wider adoption of this equipment across the world.
LiuGong’s New Crawler Dozer is Making Headlines Across the World
The report highlights a few of the major industry developments of recent times and discusses their impact on the growth of the overall market. As technological intervention plays a massive role in the growth of the market, several large scale companies are focused on introducing innovative products with the bid to establishing a stronghold in the market. As a result, there have been numerous innovative crawler dozers in the market in recent years. In March 2020, Liugong Dressta announced the launch of a new dozer with advanced operational capabilities. The company introduced ‘TD-16N,’ a product that was unveiled at the CONEXPO 2020. The company states that this product will set the benchmark for visibility and it has incorporated concepts that will enable applications that are much more flexible than its previous versions. Dressta’s latest dozer is creating a lot of buzz across the world and given the status and manner of manufacturing units during the pandemic, the company will generate substantial revenue in the coming years.
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Smart Concepts and Innovations to Emerge in Favor of Companies
The massive efforts taken to integrate innovative concepts in the crawler dozers will have a massive impact on the overall market. Due to increasing competition in the global market, companies are increasingly focusing on product innovations, with the aim of acquiring a
stronghold in the competitive market. Advances in technology have certainly catered to the demand for automated and efficient products.
SMEs turn Towards Developing Economies as Developed Countries are Dominated by Established Firms
The market shaped up as a consolidated space with a few companies acquiring a major share. This has made it difficult for small and medium enterprises. As a result, mid-sized companies are turning towards developing companies, with a view to building a strong profile as well as generating immediate revenue and returns.
List of companies profiled in the report:
The global market is segmented on the basis of:
Value (USD Billion)