Continuous Track Wheels Market: Introduction
Continuous track wheels are the driving mechanism used in crawling mediums in all the crawlers across the world. These wheels are manufactured using iron, nylon, phenolic or polypropylene. Continuous track wheels are popular with tracked vehicles which operate in uneven terrains. These wheels are housed between the track and sprockets, thereby facilitating the motion of the crawler. Continuous track wheels find use in various machines, such as agricultural tractors, mining vehicles, armored tanks and robots. In case of army tanks or industrial crawlers, continuous track wheels are referred to as road wheels or suspension wheels. This is mainly because these wheels are a part of the suspension system of tanks.
Two wheels are connected to a suspension system in such a way that they form a set of independent suspension systems for each other, housed inside the same spring arrangement. Road wheels or continuous track wheels are available in various sizes and formats, depending on the tank size and application. The demand for continuous track wheels is quite high from end-use industries, such as mining, agriculture and defense industries.
Continuous Track Wheels Market: Dynamics
With the growth in mining, agricultural and defense applications, the demand for continuous track wheels is also anticipated to increase exponentially during the forecast period. The replacement rate is highest in case of mining applications, which are followed by agricultural and defense applications, respectively. Although the mining sector is facing a downfall these days, the agricultural sector is set to grow at a significant pace owing to the growing demand from consumers. That apart, rising competition between the armies throughout the world will further strengthen the base for sales of continuous track wheels in the defense sector. This can be seen as a new trend in the road wheels market.
With such a diversified end use market structure, the scope for better sales is only apparent. The main factor responsible for the growth of the market are the crawling robots being employed for sting operations in the defense sector and for acquiring information from within deep holes down the earth in archeological & mining applications. However, there are a few constrains related to the market, such as low rate of replacement leading to less scope for aftermarket sales. Apart from this, the market seems poised for positive growth throughout the forecast period.
Continuous Track Wheels Market: Segmentation
On the basis of wheel type, the Global Continuous Track Wheels Market can be segmented into:
On the basis of track type, the Global Continuous Track Wheels Market can be segmented into:
On the basis of wheel material, the Global Continuous Track Wheels Market can be segmented into:
On the basis of applications and end-use industries, the Global Continuous Track Wheels Market can be segmented into:
Continuous Track Wheels Market: Regional Outlook
China is expanding its army exponentially and this will lead to higher sales of continuous track wheels. The same is the case with India, U.K., Germany and the U.S. The agricultural sector is witnessing a boom in emerging economies of APAC, MEA and LA. Agricultural advancements are being observed in North America and Europe as well which will steer the market of continuous track wheels towards growth. Mining brings in a lot of scope for sales in emerging economies. Overall, the market is expected to be distributed mainly among Asia Pacific, Eastern Europe, Russia, Latin America and North America. Middle East and Africa is underdeveloped in terms of mining activities as of now and is thus anticipated to grow in the coming years in the continuous track wheels market.
Continuous Track Wheels Market: Key Players
Examples of some of the market participants identified across the value chain of the Continuous Track Wheel Market are:
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