Motor Graders Market Overview
The Motor Graders Market has 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 2030. Additionally, it is also valued that it can reach a CAGR of the value 4.59% during the Motor Graders Market Forecast period from the year 2021 to 2030.
The report covers segmentation and drivers for a better glimpse of the market in the coming years. Motor Graders Industry has registered significant growth in adoption rates over the past few years in developing countries, such as China, Japan, the US, and Germany, owing to increasing construction activities in the region.
Increasing construction activities, growing adoption of motor graders in the mining and construction industries, and the rising demand for rental and used construction equipment are expected to spur market growth. The market for motor graders has been segmented based on product, power, application, and region.
Based on power, the global market has been segmented into 75–100 HP, 101–150 HP, 151–250 HP, and above 250 HP. In 2019, the 75–100 HP segment accounted for a considerable market share of 38.89%.
Based on the product, the motor graders market has been segmented into rigid frame motor graders and articulated frame motor graders. In 2019, the articulated frame motor graders segment accounted for the larger market share of 62.43%.
Based on application, the Motor Graders Emerging Market Segmenthas been segmented into construction, mining, forestry & agriculture, and others. In 2019, the construction segment accounted for a considerable market share of 43.28%.
Geographic analysis of the Motor Graders Market spans across North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Asia-Pacific is one of the key markets for motor graders due to the increasing construction activities in the region. Asia-Pacific is the fastest-growing regional market for construction, with China, India, Vietnam, and Australia being the major country-level markets in the region. The growth in the development of new infrastructure and the improvement in financial conditions in this region have led to the growth of the construction industry and, consequently, the motor graders market. The dynamic growth of the construction equipment market in India can be attributed to the increased infrastructural investments by governments and the increase in public-private partnership projects. Moreover, the rapid industrialization and urbanization in emerging economies, such as China and India, are also boosting the growth of the motor graders market in the region.
Motor graders are used for paving surfaces; hence the refurbishment and renovation of old buildings have increased the investments in the construction industry, fueling the growth of the motor graders market. Rapid urbanization, rising investments in real estate, and increased government and consumer spending are expected to double the size of ASEAN economies in the next 10–15 years, which will trigger the growth of the building & construction industry in the region. The growing construction industry is projected to propel the demand for motor graders in the region.
Global Motor Graders Market comprises many global and Regional Players. These players are adopting strategies such as mergers & acquisitions, product development, partnerships, and expansions to expand their market share and improve their global market position. High competition, constant changes in technology, and integrated solutions by industry participants are the key factors that impact market growth. Vendors compete based on cost, product quality, and reliability. It is vital for these players to offer cost-effective and superior products to succeed in the competitive market environment.
The success of the market vendors depends on the market conditions, government support, and industry development. Thus, they should focus on improving their products and expanding their regional presence. CNH Industrial N.V. (UK), Deere & Company (US), Mahindra & Mahindra Ltd (India), VEEKMAS OY, and China National Machinery Industry Corporation Ltd (China) are some of the other key players operating in the global motor graders market. Caterpillar, AB Volvo, Deere & Company, CNH Industrial NV, Sany Group, and Komatsu Ltd held nearly 65% of the market share in 2019.
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