PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1326592
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1326592
Global Motor Grader Market is valued at approximately USD 7.20 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.9% over the forecast period 2023-2030. A construction tool used in the grading process to level soil or surfaces is the motor grader, also referred to as a road grader. It helps create a smooth surface due to its long blade. It is frequently employed in the construction industry for the construction and upkeep of dirt and gravel roads. Moreover, rising demand for medium motor graders, which offer better handling with less weight, an efficient power supply, and precise control over the blades, real estate sector growth, improving economic conditions, and the development of residential and commercial infrastructure in emerging nations are the main drivers of the motor graders market.
In addition, the rising demand for graders is being driven by government spending on infrastructure and mining activities, particularly in emerging countries. According to Invest India, by 2025, it is anticipated that India's construction market is likely to be worth USD 1.4 trillion. The government also made an additional announcement of INR 48,000 crore under the PM Awas Scheme, which encourage the development of more than 80 lakh homes to provide affordable housing. According to the International Trade Administration, in 2023 in China, the total amount invested in new infrastructure over the 14th Five-Year Plan (2021-2025) is anticipated to be close to USD 4.2 trillion. The emphasis of the new plan was on the retrofitting of more than 350 million square metres of buildings as well as the construction of more than 50 million square metres of structures with net zero energy consumption. The market is expanding due to increased private-sector investment. Additionally, manufacturers have continued to improve motor graders using the newest and most advanced technologies, which further increases operation precision and gives graders more control. However, the high cost of motor graders, coupled with the increased maintenance and operating costs stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Motor Grader Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022. Infrastructure improvement & rising government capital expenditures are likely to be the main drivers for market growth. Also, the region's motor grader market is anticipated to grow as a result of emerging countries including India and China investing more money in residential buildings, renewable energy, and public infrastructure. Europe is expected to grow significantly during the forecast period, the growth is attributable to factors such as rising interest in efficient, effective, and environmentally friendly technologies, rising employment levels, and rising demand for new infrastructure projects. Additionally, due to Germany's reputation as the continent's best-performing machine and equipment sector and the ongoing demand for construction projects, Europe is anticipated to have significant growth potential over the course of the projected period.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable