GLOBAL DOZER MARKET ANALYSIS

Regional Analysis

On the basis of region, the dozer market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.

Asia Pacific held the dominant position in the market in 2017 and is projected to retain its dominance throughout the forecast period (2018–2025). China, India, and Japan are the growth engines in the region. This is owing to increasing infrastructure projects in these countries. For instance, in 2013, China announced 'one belt one road initiative' to connect three regions (Asia, Africa, and Europe), which has increased aided in growth of the construction industry in the country. Moreover, increasing government investments in infrastructure sector in India is expected to aid in growth of the market. For instance, according India Brand Equity Foundation (IBEF), in April 2018, in the Union Budget 2018-2019, Government has allocated US$ 92.22 Billion for the infrastructure sector. Dozers play a vital role in the construction industry, thus creating a conducive environment for growth of the dozer market in Asia Pacific.