According to a recent market study published by Growth Market Reports, titled, “North America Aftermarket Undercarriage Components Market by Type, by Application, by End-Use Industry, and by Country: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market is projected to value at US$ 4,008.04 Million in 2031 and is anticipated to expand at a growth rate of 5.28% in the forecasted period 2022-2031.

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The Undercarriage system holds significant importance in the functionality and resilience of tracked heavy machinery such as Excavators, Dozers, & Cranes. Comprised of intricately engineered components such as Track Chains, Sprockets, Idlers, and Bogie Wheels, it serves as the fundamental platform for mobility, stability, and terrain navigation. Undercarriage components market presents a robust and inextricably linked ecosystem to the overall production of heavy machinery, experiencing consistent growth fueled by burgeoning infrastructure development and industrial expansion, particularly within emerging economies. This dynamic market landscape is comprised of two primary stakeholder groups: vertically integrated vehicle manufacturers who undertake in-house production of undercarriage components, and specialized independent component suppliers that cater to the needs of multiple vehicle brands. Both segments play crucial roles in ensuring the continuous availability and reliable performance of undercarriage parts, driving operational efficiency and productivity across diverse heavy machinery applications.

The North America Aftermarket Undercarriage Components Market has been segmented in terms of by Type, by Application, by End-Use Industry, and by Country. In terms of type, the North America Aftermarket Undercarriage Components Market is segmented into Rollers, Track Chains, Shoes, Idlers, Sprockets, Track Adjusters, and Others. On the basis of Application, the market is bifurcated into Excavators, Dozer, Track Loaders, Pavers, and Others. Based on End-Use Industry, the market is fragmented into Mining, Construction, Utilities, and Others. Considering Countries, the market is divided into the U.S., Canada, and Mexico.

The COVID-19 pandemic has had a significant impact on the North America Aftermarket Undercarriage Components Market by affecting the demand for these components. The unavailability of finished metal products, that are essential for assembling undercarriage systems, has hampered the manufacturing process. The disruptions in the supply chain, reduced demand, and changes in the manufacturing process have resulted in a negative impact on the market growth. Moreover, transportation of non-OEM parts has also been affected leading to delays in the production process.

Key Takeaways from the Study:

  • Players in the North America Aftermarket Undercarriage Components Market ITR America, Komatsu, AB Volvo, Deere & Company, Hitachi Construction Machinery Americas Inc., Berco, Brewer Machine & Gear Company, ENSTRUC, Chermack Machine Inc., and KTSU America, LLC. These players held a major share of the North America Aftermarket Undercarriage Components Market in 2022.

  • Undercarriage components are exposed to harsh operating conditions and heavy loads, leading to high wear and tear. To ensure optimal performance and safety of the equipment, regular maintenance and repair services are required. The aftermarket provides these services along with replacement parts, creating a steady demand for undercarriage components. These aftermarkets offer authentic and high-quality products and services to customers who seek enhanced value and performance.

  • The undercarriage components market is witnessing technological innovations and product development aimed at enhancing the efficiency, durability, and sustainability of the products. Some manufacturers are incorporating sensors, actuators, and software to monitor the condition and performance of the components as well as provide predictive maintenance solutions. These innovations and developments are expected to create new opportunities for the market in terms of offering upgraded & customized products and services to customers.

  • Based on product type, the North America Aftermarket Undercarriage Components Market is segmented into Rollers, Track Chains, Shoes, Idlers, Sprockets, Track Adjusters, and Others. Growth in construction, infrastructure development, and mining activities in various regions around the region drives the demand for heavy equipment with undercarriage systems, which, in turn, fuels the need for aftermarket rollers. Furthermore, the growth of the construction and heavy equipment industries, which heavily rely on tracked machinery, can drive the demand for aftermarket sprockets.

  • Based on Application type, the North America Aftermarket Undercarriage Components Market is segmented into Excavators, Dozer, Track Loaders, Pavers, and Others. The demand for track loaders in North America is rising, due to their versatility, stability, and ability in various applications, from construction to landscaping. Similarly, Excavators are crucial for tasks such as digging, trenching, and material handling in various construction projects such as residential & and commercial developments, infrastructure, and road construction.

  • Based on the end-use industry, the North America Aftermarket Undercarriage Components Market is segmented into Mining, Construction, Utilities, and Others. Government and the private sector investments in infrastructure are driving the construction industry. Likewise, the mining industry growth is driving infrastructure development, such as improved transportation networks and access to remote mining sites.

  • Based on country, the North America Aftermarket Undercarriage Components Market is segmented into the U.S., Canada, and Mexico. In the U.S., the presence of prominent undercarriage components manufacturers, coupled with the availability of advanced technology, has further invigorated the market in this region. Moreover, in Canada, the market shows considerable progress, due to Emergent needs from the construction sector, particularly the heavy machinery segment, which inflates the demand for top-notch undercarriage components. Similarly, the market in Mexico is witnessing exponential growth, its growth is driven by the rapidly growing construction, agriculture, and mining industries, especially in the country.

Report Scope:

Report Metric

Details

Market Value in 2022

US$ 2,526.85 Million

Market Growth Rate (from 2022 to 2031)

5.28%

Historical Data

2016 - 2021

Base Year

2022

Forecast Period

2023 – 2031

Units Considered

Value (USD Million)

Market Segments

By Type, By Application, By End-Use Industry, And By Country

Key Companies Profiled

ITR America, Komatsu, AB Volvo, Deere & Company, Hitachi Construction Machinery Americas Inc., Berco, Brewer Machine & Gear Company, ENSTRUC, Chermack Machine Inc., and KTSU America, LLC.

Customization Scope

Report customization available on request

Pricing and Purchase Options

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Target Audience:

  • Supply-side: Vendor, Manufacturer, Distributors, Supplier, Retailer.

  • Regulatory Side: Concerned government authorities, and other approved regulatory bodies.