Global rubber track market is anticipated to grow at a CAGR of 4.2% during the forecast period (2024-2031). The market growth is driven by the rising demand from end-users, which includes agriculture, construction, military, and other sectors. The growing rubber industry is creating scope for rubber tracks across the globe especially, in the EU and Asia-Pacific. The higher cost of rubber tracks as compared to other alternatives is estimated to be the major factor that is holding back the growth of the market in the region.
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The global rubber track market is segmented by type (triangular tracks and regular tracks), by product (tires and ladder frame), and by application (agricultural machinery, construction machinery, and military machinery), and by geographies (North America, Europe, Asia-Pacific, and Rest of the World).
The major players in the global rubber track market include Bridgestone Corp., Continental AG, Camso Inc., Chermack Machine Inc., DIGBITS Ltd., GRUPPO MINITOP SRL, and McLaren Industries, Inc., among others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.
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Recent Developments
- In February 2024, Mattracks launched a track conversion system for skid steers. The system features 15-in. wide RT125 TC features a rubber torsion suspension system with four tracks independently oscillating to conform to the ground and contour with the terrain when the machine is in operation.
- In June 2024, the Michelin group launched a series of tires ranging from new winter tires for armored vehicles and trucks, to light vehicle tires, to rubber tracks, to non-pneumatic tires. The tire range was launched at Eurosatory 2024.
- In January 2024, Mattracks launched the narrowest tracks, starting at only 9.6” and ranging up to 12” wide. It is designed for row crops, and reduces compaction by up to 40%, as compared to tires, contributing to higher yields and profits. The system features a rubber torsion anti-torque system and internal rubber torsion rocker suspension. It also has a concentric pivot frame, steel frames, and an all-terrain, self-cleaning tread style.
- In January 2024, ZC Rubber subsidiary Yonggu announced the expansion of its capacity to produce rubber tracks and other rubber products. The capacity would be located at the site of the former Hangzhou Taihong Rubber Track plant in Jiande, in China’s Zhejiang Province. The estimated capacity for the facility is estimated at 1 million tracks a year.
- In April 2023, BKT launched its first rubber track series, AGRIFORCE, at the trade shows SIMA and EIMA, for farming applications. The AGRIFORCE BK T71 for tractors scored a great success. Just a few months later, BKT also announced the launch of a new product line for industrial and construction applications, at ConExpo in Las Vegas.
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