Global Dozer MarketSize and Trends

Increasing construction activities is the main driving factor for growth of the dozer market

The growth of the construction industry is a major factor leading to increasing adoption of dozers, thus aiding in growth of the market. According to Chartered Institute of Building, by 2030, the construction industry is expected to account for 14.7% of the global GDP. Moreover, by 2030, the global construction market is projected to be valued at US$ 17.5 trillion up from US$ 8 trillion in 2015. Governments of various countries are focusing on various initiatives to develop better infrastructure such as roads, railways, and airports to enhance economic development. For instance, according to Indian Government’s Union Budget 2018 – 2019, the government has allocated funds of US$ 92.22 billion for the infrastructure sector. Moreover, urbanization led to increasing demand for better facilities, infrastructure, and housing. This is expected to aid in growth of the construction industry. According to United Nation Organization’s analysis, 54.5% of the world population lived in urban cities in 2016 and is projected to reach 60% by 2030. Bulldozers being an essential equipment in the construction industry, this is anticipated aid in growth of the market over the forecast period.

Increasing applications of dozers in various verticals is expected to be major factor for growth of the market over the forecast period