Above 200 HP Graders to Remain Highly Sought-after, Accounting for 57.3% of Total Graders Sales by 2032
The latest survey published by Fact.MR provide compelling insights into the global graders market between 2022 and 2032. The report reveals key dynamics such as drivers and opportunities across 6 regions. It also offers demand outlook for the graders market on the basis of base power, blade pull, and application for the coming decade
NEW YORK, May 18, 2022 /PRNewswire/ -- The global graders market is estimated to create an absolute dollar opportunity of nearly US$ 4.27 Bn by 2022, exhibiting growth at a CAGR of 2.7% during the forecast period 2022-2032.
As the trend of urbanization and industrialization continues to create deeper inroads, infrastructure development and construction activities across the globe are increasing. Governments in several countries are undertaking numerous initiatives to urbanize rural areas, which, in turn, is creating demand for associated construction equipment.
For instance, the Indian Government has launched rural area urbanizing initiatives such as Housing for All and Atal Mission for Rejuvenation and Urban Transformation (AMRUT) under Pradhan Mantri Awas Yojana.
As graders play a vital role in construction applications such as leveling and land grading, such developments are projected to bolster the demand in the market. Driven by this, sales of graders are projected to reach US$ 5.6 Bn by the end of 2032, in comparison to the US$ 4.17 Bn registered in the year 2021.
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Infrastructural projects for the construction of roads, bridges, railways, and ports are in progress across developing countries such as China, India, South Korea, and Brazil to strengthen the backbone of transportation.
Graders are extensively being used in road construction activities for making flat surfaces in the grading process before asphalt applications. In addition to this, increasing availability of grader blades with different sizes for diverse applications is anticipated to accelerate sales in the graders market.
Report Attributes | Details |
Base Year Value (2021A) | US$ 4.17 Billion |
Estimated Year Value (2022E) | US$ 4.27 Billion |
Projected Year Value (2032F) | US$ 5.6 Billion |
Global Growth Rate (2022-2032) | CAGR 2.7% |
Key Takeaways:
- The U.S. is projected to lead the graders market in North America, exhibiting growth at a CAGR of 2.9% over the assessment period.
- Germany is expected to witness growth at a robust rate, assisting the Europe market to account for around 23.1% of total market share in 2022.
- China is forecast to account for a dominant share in the East Asia market, owing to rising construction activities in the country.
- In terms of base power, the above 200 HP graders segment is expected to dominate the market, accounting for 57.3% of the total demand share by 2022.
- Based on applications, the construction segment is anticipated to account for around 41.2% of the total market share, with sales increasing at 3.4% CAGR through 2032.
Growth Drivers:
- Growing government emphasis on increasing mining activities to cater to the surging demand for iron, steel, copper, and coal is estimated to spur demand in the market.
- Increasing usage of graders for removal of snow and repairing ditches formed between roads will fuel sales of graders.
Restraints:
- High initial cost and cost of maintenance due to frequent wear and tear during handling heavy materials are hindering sales of graders.
- The availability of low-cost alternatives, such as wheel loaders equipped with grade blade attachments, will impede the demand for graders.
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Competitive Landscape:
Prominent manufacturers in the global graders market are introducing novel products with innovative features to strengthen their product portfolios. Also, some players are aiming at adopting strategies such as acquisitions, partnerships, and collaborations to expand their market share. For instance:
- In 2021, Deere and Company, an American manufacturer of heavy machinery, announced launching enhanced GP-Series motor graders. They come with innovations technologies such as auto-pass, auto-shift PLUS, SmartGrade remote support and others.
- In 2019, Komatsu Ltd., a Japanese multinational corporation that manufactures construction machinery announced introducing new, GD655-7 motor grader, which has a steering wheel, low-effort based control levers, a comfortable cabin, and a steering lever.
Key Companies Profiled by Fact.MR
- Caterpillar Inc.
- Deere and Company
- CNH Industrial N.V.
- Komatsu Ltd.
- Terex Corporation
- Volvo Construction Equipment and Services, Inc.
- Guangxi LiuGong Machinery Co. Ltd.
- Sany Group Co. Ltd.
- XCMG Construction Machinery Co. Ltd.
- Lonking Holdings Limited
- Shantui Construction Machinery Co. Ltd.
More Valuable Insights on Graders Market
In its latest study, Fact.MR highlights governing factors steering growth in the global graders market for the assessment period 2022-2032. The survey also provides key insights into drivers that are estimated to create growth prospects in the graders market through detailed segmentation as follows:
Graders Market by Base Power:
- Up to 200 HP Graders
- Above 200 HP Graders
Graders Market by Blade Pull:
- Up to 15,000 lbs. Graders
- Above 15,000 lbs. Graders
Graders Market by Application:
- Construction
- Mining
- Snow Removal
- Land Grading and Levelling
- Others
Graders Market by Region:
- North America Graders Market
- Latin America Graders Market
- Europe Graders Market
- East Asia Graders Market
- South Asia & Oceania Graders Market
- MEA Graders Market
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Key Questions Covered in the Graders Market Report
- What is the estimated revenue of the graders market during the forecast period?
- What are the challenges faced in the graders market?
- Which region is estimated to exhibit fastest growth rate in the global graders market during 2022-2032?
- What is the projected market valuation of the graders market in 2022?
- Which are the factors driving the graders during 2022-2032?
- What is the expected growth rate of the graders market until 2032?
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