The market for rubber tracks was valued at USD 2,681 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5.1% to reach a value of USD 3,945 million by 2032. In 2022, 1,411,230 units were consumed in the market, and by 2032, a CAGR of 4.1% is expected to achieve a volume of 2,076,290.
The market for rubber tracks is significantly impacted by the expansion of the agriculture sector. In the agricultural sector, rubber tracks are commonly utilized, mostly on tractors and other heavy machinery that is used for planting, harvesting, and other agricultural tasks. The need for rubber tracks is predicted to rise in tandem with the global increase in food demand and the growth of the agriculture sector.
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Regional Scope
- North America
- Europe
- APAC
- South America
- Middle East
- Africa
Key Company
- Bridgestone Corporation
- Camso Ltd.
- Continental AG
- Trelleborg AB
- Mattracks, Inc.
- Soucy International Inc.
- McLaren Industries Inc.
- Global Track Warehouse USA
- Summit Supply LLC
- Dominion Rubber Tracks & Systems
Regional Insights
Asia Pacific dominates the worldwide rubber track market, with an active share of 46% in 2022. The region’s growth is largely driven by the following factors:
Construction sector growth: The Asia Pacific area is undergoing significant urbanization and infrastructure development, which is increasing demand for heavy equipment like excavators and loaders. This, in turn, increases demand for rubber tracks, which are an essential component of heavy equipment.
Increased use of rubber tracks in agriculture: The Asia Pacific area is home to several significant agricultural countries, including China and India, where farmers are increasingly realizing the benefits of employing rubber tracks in their equipment. This is pushing up demand for rubber tracks on agricultural equipment.
Scope of the Report
This report offers data and projections on the global rubber track market covering the past, present, and future. The market estimates in the study are derived from a thorough research methodology. Numerous research avenues are employed in the process, including primary, secondary, and subject-specific expert opinion. The Seasonal Affective Disorder Market is impacted by several economic, social, and political factors, in addition to the current market dynamics, which are used to develop the market estimates. Additional factors defining the market statistics include increasing R&D, government funding, and a number of laws. The market estimates account for both favorable and unfavorable changes.
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