Global Ground Engaging Tools (GET) Market to Surpass USD 4.39 Bn By 2031

PUNE, India, June 26, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Ground Engaging Tools (GET) Market by Type (Bucket Teeth, Blades, Side Cutters, and Others), Weight (Below 15 Kg, 15Kg to 40 Kg, 50Kg to 70 Kg, 70Kg to 100Kg, and Above 100 Kg), Application (Loaders, Excavators, Dozers, Scrapers, and Others), End-use (Mining, Construction, and Others), Distribution Channel (Original Equipment Manufacturers (OEM) and Aftermarket), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031", the market size was USD 2.2 Bn in 2022 and is expected to surpass USD 4.39 Bn expanding at a CAGR of 7.9% by the end of 2031. Increasing mining and construction activities at a rapid pace is likely to propel the market.

Key Market Players Profiled in the Report

Caterpillar

ESCO Group LLC

Sandvik AB

KOMATSU

Hensley Industries

Black Cat Wear Parts

Hitachi Construction Machinery Co., Ltd

MTG SYSTEMS

Liebherr

J C Bamford Excavators Ltd

Kobelco Construction Machinery Co., Ltd.

Deere & Company

AB Volvo

BYG

combi wear parts

Bradken

VALLEY BLADES LTD

Ningbo Fenghua ND Machinery Co., Ltd

KEECH

Cutting Edges Equipment Parts Pty Ltd

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics. It provides an in-depth analysis of the market segments, which include types, weight, End-use, Distribution Channel, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

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Regional Highlights:

On the basis of region, the global ground engaging tools (GET) market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is anticipated to dominate the global market, due to the rapidly growing construction sector in emerging countries such as India and China.

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Key Takeaways from the Study:

Ground engaging tools are high wear-resistant metal components of equipment that come into direct contact with the ground during excavation.

It is used on construction sites for cutting, grading, and moving materials, which further reduces machine stress.

Growing demand for earthmoving machines from construction and mining sites is expected to fuel the market in the coming years.

Increasing advancements in ground engaging tools to optimize accuracy and performance is likely to boost the market.

Rising development of smart cities is projected to create potential opportunities for the market players.

The bucket teeth segment is projected to expand at the fastest CAGR during the forecast period, owing to the rising adoption in mining, forestry, and construction to loosen the soil.

The below 15kg segment is anticipated to hold a major share of the market, due to its cost-effectiveness compared to others.

The loaders segment is expected to expand at a significant pace during the forecast period, owing to the increasing adoption in various industries for carrying heavy loads.

The construction segment is likely to dominate the market in the coming years, due to the rising usage of heavy equipment for carrying rubble or leveling the ground.

Read 290 Pages Research Report with Detailed TOC on "Global Ground Engaging Tools (GET) Market by Type (Bucket Teeth, Blades, Side Cutters, and Others), Weight (Below 15 Kg, 15Kg to 40 Kg, 50Kg to 70 Kg, 70Kg to 100Kg, and Above 100 Kg), Application (Loaders, Excavators, Dozers, Scrapers, and Others), End-use (Mining, Construction, and Others), Distribution Channel (Original Equipment Manufacturers (OEM) and Aftermarket), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"

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Key Segments Covered

Type

Bucket Teeth

Blades

Side Cutters

Others

Weight

Below 15 Kg

15Kg to 40 Kg

50Kg to 70 Kg

70Kg to 100Kg

Above 100 Kg

Application

Loaders

Excavators

Dozers

Scrapers

Others

End-use

Mining

Construction

Others

Distribution Channel

Original Equipment Manufacturers (OEM)

Aftermarket

Region

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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