Motor Grader Market was valued at $6.8 billion in 2021, and is projected to reach $12.1 billion by 2031, growing at a CAGR of 5.9% from 2022 to 2031
WILMINGTON, DELAWARE, UNITED STATES, March 13, 2024 /EINPresswire.com/ — Expansion of the construction sector, increase in government investments in infrastructure projects all around the world, growth in the mining sector in emerging countries in Asia-Pacific, and greater focus by market players on manufacturing motor grader vehicles for construction and mining sectors drive the growth of the global motor grader market. Region-wise, the market in Asia-Pacific is expected to dominate the market in terms of revenue from 2022 to 2031.
The global motor grader market generated $6.8 billion in 2021, and is estimated to reach $12.1 billion by 2031, witnessing a CAGR of 5.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Covid-19 Scenario:
The outbreak of the COVID-19 pandemic had a negative impact on the motor grader market.
Manufacturing activities were halted or restricted, leading to a decline in the manufacturing of various equipment used for dust control systems as well as their demand in the market, thereby restraining the growth of the motor grader market. However, few players adopted employee lay-offs to sustain themselves during the health crisis.
As the pandemic situation improved, industries gradually resumed their regular manufacturing and services which led to the re-initiation of dust control systems companies at their full-scale capacities. This helped the motor grader industry to recover.
The report offers a detailed segmentation of the global motor grader market based on product type, capacity, application and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on product type, the articulated frame segment held the largest share in 2021, accounting for nearly three-fourths of the global motor grader market and would dominate the market in terms of revenue through 2031. The same segment is estimated to witness the fastest CAGR of 6.3% during the forecast period.
In terms of capacity, the medium motor graders segment captured the largest market share of nearly three-fifths of the global motor grader market in 2021 and is expected to lead the trail in 2031. However, the small motor graders segment is expected to achieve the fastest CAGR of 7.5% through 2031.
In terms of application, the construction segment captured the largest market share of more than two-fifths of the global motor grader market in 2021 and is expected to lead the trail during the forecast period. However, the oil and gas segment is likely to achieve the fastest CAGR of 10.6% through 2031. The report also studies the infrastructure, mining, and others segments.
Based on region, the market in Asia-Pacific was the largest in 2021, accounting for nearly half of the global motor grader market in 2021 and is likely to maintain its dominance during the forecast period. However, the market in LAMEA is expected to manifest the highest CAGR of 13.3% from 2022 to 2031. The other regions analyzed in the study include North America and Europe.
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Leading Players:
Leading players of the global motor grader market analyzed in the research include Deere & Company, AB Volvo, Calder Brothers Corporation, Sany Group Co Ltd,, Guangxi Liugong Machinery Co., Ltd., Veekmas Oy, Caterpillar Inc., CNH Industrial N.V, Leeboy, and KOMATSU Ltd.
The report analyzes these key players of the global motor grader market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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