Market Analysis
The Motor Graders Market is been calculated after reaching the value of USD 2.8 billion in the year 2020, and it is also estimated to calculate the value of USD 5.8 billion by the year 2026. Additionally, it is also valued that it can reach a CAGR of the value 3.5% during the Motor Graders Market Forecast period from the year 2020-to 2026.
Key Players
Various factors are propelling the global Motor Graders Market share. According to the recent MRFR report, such factors include the growing demand for minerals and geological metals, demand for rental units, rising economy, increase in mining operations, growing construction sector, booming mining industry, and favorable government initiatives to expand the real-estate and infrastructure industries.
Eminent players profiled in the global motor graders market report include Hitachi Construction Machinery Co., Ltd (Japan), Komatsu Ltd (Japan), Sinomach-HI (Luoyang) Co., Ltd. (Japan), Mahindra Mahindra Ltd. (US), AB Volvo (Sweden), Caterpillar Inc. (US), Terex Corporation (US), J.C. Bamford Excavators Limited (UK), Sany Group (China), and Deere Company (US). Industry players have incorporated strategies such as mergers and acquisitions, joint ventures, strategic alliances, geographic expansions, extensive RD, and new product launches to stay at the forefront.
On the contrary, high maintenance costs, lack of skilled labor, fluctuating raw material price, and the COVID-19 impact are factors which may restrain the global motor graders market growth over the forecast period.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global Motor Graders Industry based on application, capacity, and product type.
By product type, the global motor graders market is segmented into articulated frame motor grader and rigid frame motor grader. Of these, the articulated frame motor grander is predicted to lead the market over the forecast period.
By capacity, the global motor graders market is segmented into large motor graders (above 300 HP), medium motor graders (150-300 HP), and small motor graders (80-150 HP). Of these, the small motor graders will dominate the market over the forecast period.
By application, the global motor graders market is segmented into forestry and agriculture, mining, construction, and others. Of these, the construction segment will have a major share in the market over the forecast period.
Regional Analysis
Based on the region, the global motor graders market report covers the recent trends and growth opportunities across the Asia Pacific (APAC), North America, Europe, the Rest of the World (RoW). Of these, the APAC region will have the lions share in the market over the forecast period. Rapid urbanization and industrialization in Japan, China, and India, increasing government investments in the construction sector, the region being the largest consumer of coal, metals, and mineral for the growing economy, and China, India, and Australia being leading producers of minerals and metals such as platinum, coal, tungsten, base metals, gold, tin, and diamonds are adding to the global motor graders market growth in the region.
The global motor graders market in Europe is predicted to hold the second-largest share over the forecast period. The presence of economically stable countries such as Germany, the UK, Canada, and the US, growing demand for new infrastructural projects, growing inclination towards technologies that are eco-friendly, productive, and effective, and improving employment level are adding to the global motor graders market growth in the region.
The global motor graders market in North America is predicted to have healthy growth over the forecast period. Demand for construction activities is adding to the global motor graders market growth in the region.
The global motor graders market in the RoW is predicted to have sound growth over the forecast period. Increasing industrialization and urbanization, increasing inclination of consumers towards eco-friendly, efficient, and productive technologies, and growing demand for construction projects are adding to the global motor graders market growth in the region.
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