The global rubber track market is anticipated to grow at a significant CAGR of 4.2% during the forecast period. Rubber tracks are used in off-road vehicles to offer improved stability on slopes and uneven terrains. They are made of a tear-resistant compound and a mixture of natural and synthetic rubbers with steel cords and inflated metal cores. The combination provides a smoother ride, minimizing noise, and vibration on harder surfaces, and improved flexibility and floatation. The global rubber track market is growing significantly across the globe due to rising demand from end-users which includes agriculture, construction, military, and other sectors. 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. The rising demand from the construction and transportation sector is boosting the rubber track market in the Asia-Pacific. Growing rubber industries are creating scope for rubber tracks across the globe especially, the EU and Asia-Pacific are considered to be the most lucrative destinations for rubber track industries.
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The COVID-19 pandemic has underlined the growing importance of the services sector, in particular the distribution sector, in keeping trade flowing. The crisis has also underlined the importance of digital trade. Improvements in bandwidth and technological innovation have been the main factors for the increase in e-commerce and digital trade. The COVID-19 pandemic has highlighted the limitations of existing tools for measuring trade. vehicle production took a drastic hit during the peak of the pandemic, affecting the production of peripheral components like rubber tracks for security and defense as well, due to lockdowns and reduced demand. key players have been making efforts to recover from the pandemic, by undertaking various strategies to solidify their position in the post-pandemic era. For instance, in December 2021, Loc Performance finalized the acquisition of the St. Marys facility of Continental, which produces rubber track solutions for the construction, defense, and agricultural industries.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Rubber Tracks Market by Type
- Triangular Tracks
- Regular Tracks
Global Rubber Tracks Market by Product
- Tires
- Ladder Frame
- Rubber Tracks
Global Rubber Tracks Market by Application
- Agricultural Machinery
- Construction Machinery
- Military Machinery
Regional Analysis
- North America
- US
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Alpine Track Systems
- Bridgestone Corp.
- Camso Inc.
- Chermack Machine Inc.
- Continental AG
- DIGBITS Ltd.
- Dominion Equipment Parts, LLC
- Global Track Warehouse USA
- GRUPPO MINITOP SRL
- Leach Lewis Rubber Tracks Ltd.
- Mattracks, Inc.
- McLaren Industries, Inc.
- Prowler Industries
- Soucy Holding Inc.
- Superior Tire & Rubber Corp.
- VMT International
- Zhejiang Jiuyun Vehicle Parts Co., Ltd.
The Report Covers
- Market value data analysis of 2019 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global rubber tracks market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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