Ground Engaging Tools Market Size, Share, Growth Analysis, By Distribution Channel(Original Equipment Manufacturers (OEM) and Aftermarket), By End-Use(Mining, Construction, Industrial and Others), By Application(Loaders, Excavators, Dozers, Scrapers), By Weight(Below 15 Kg, 15Kg to 40 Kg, 50Kg to 70 Kg, 70Kg to 100Kg), By Type(Bucket Teeth, Blades, Side Cutters, and Others), By Region - Industry Forecast 2024-2031

Global Ground Engaging Tools Market size was valued at USD 18.35 Billion in 2022 and is poised to grow from USD 20.09 Billion in 2023 to USD 41.52 Billion by 2031, growing at a CAGR of 9.5% in the forecast period (2024-2031).

The growing demand for construction and infrastructure facilities is contributing to the rise in demand for flooring equipment. Growing urban population and increasing number of smart cities support the growth of the market. Increasing demand for expansion of roads, buildings, water, sanitation facilities and transportation corridors boosts the market. Equipment connected to earth directly influences equipment in terms of fuel consumption use, operation, longevity of equipment and maintenance costs to improve resource utilization, etc. Moreover, the growing mining industry is driving the geothermal equipment market. Mechanization of heavy equipment such as blade shovels, backhoes, front shovels and wheel drives that are essential in the mining industry has increased the demand for ground attachments.

Stricter regulations by governments are increasing processing times for renewal permits and may hamper demand for mining equipment. Thus, this could have a negative impact on market growth over the forecast period. Ground adhesive equipment consists of corrosion-resistant steel parts in direct contact with the ground during construction and excavation. These steel products are specially designed for excavators and conveyors, bulldozers, and other machinery. Drilling machinery and construction are the most common materials used in earthmoving machinery.