ID: MRFR/CO/6794-CR | March 2021 | Region: Global | 147 pages
Motor Graders Market in terms of value is estimated to register a 4.59% CAGR during the forecast period.
Global Motor Graders Market is expected to grow significantly during the forecast period due to the growth in the construction industry, particularly in Asia-Pacific and Europe. However, the lack of skilled labor and slow growth of the construction sector is expected to restrict the growth of the global motor graders market during the forecast period.
Motor graders are construction machinery that feature a long blade that is used to create a flat surface. These machineries are also commonly known as road graders, a blade, a maintainer, or motor graders. The motor graders are mostly used in road construction applications for the construction and maintenance of dirt roads and gravel roads. The motor graders comprise three axles, engine, cab, which is situated at the top, the rear axles at one end of the vehicle, and a third axle fitted at the front end of the vehicle, with the blade in between. The global motor graders market is expected to witness high growth in the coming years. The demand for motor graders is poised to be driven by the proliferating construction activities, growing investments for urban transportation, and growing rental business
Increasing construction activities, growing adoption of motor graders in the mining and construction industries, and rising demand for rental and used construction equipment will spur the market growth. The global market for motor graders has been segmented based on product, power, application, and region.
Based on 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 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 application, the global motor graders market has been segmented into construction, mining, forestry & agriculture, and others. In 2019, the construction segment accounted for a considerable market share of 43.28%.
Global Motor Graders Market comprises many global and regional players. These players are adopting several strategies such as mergers & acquisitions, product development, partnerships, and expansions to expand their market share and improve their global market position. High competition, constant technology changes, and integrated solutions by industry participants are the key factors that impact market growth. Vendors compete based on cost, product quality, and reliability. These players need 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.
By region, the motor graders market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Global Motor Graders Market, by Region, 2019
Source: MRFR Analysis
Asia-Pacific is one of the prominent regions in the motor graders market due to 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 of 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 largely attributed to increased infrastructural investments by governments and the rise in public-private partnership projects. Moreover, the rapid industrialization and urbanization in emerging economies, such as China and India, are also contributing to 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 the 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.
The global motor graders market has been segmented based on product, power, application, and 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 likely to boost the market growth.
Key Questions Addressed by the Report
|Market Size||2027: Significant Value|
|CAGR||4.59% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Power, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Motor graders market is projected to grow at a 4.59% CAGR between 2018-2027.
The Asia Pacific region is expected to dominate the motor graders market.
The construction segment will lead the motor graders market.
High maintenance cost may limit the motor graders market growth.
Growing mining industry is a key factor that is driving the motor graders market.