The global rubber track market is anticipated to grow at a considerable CAGR of around 4.2% during the forecast period. The primary factor contributing to the growth of the market includes a rapid surge in investments in developing rubber tracks by key companies to propel the growth of the market. For instance, in December 2021, Deere & Company unveiled improved rubber tracks for its compact track loaders, and military and construction equipment end-users. In August 2021, Trelleborg launched a rubber track named CRT-800 for compact loader applications. The company’s technology was designed for all-season usage.
Browse the full report description “Global Rubber Track Market Size, Share & Trends Analysis Report by Type (Triangular Tracks and Regular Tracks), by Product (Tires and Ladder Frame), and by Application (Agricultural Machinery, Construction Machinery, and Military Machinery) Forecast Period (2022-2028)” at https://www.omrglobal.com/industry-reports/rubber-tracks-market-size
Apart from this, in February 2021, As part of the PEM (Platform Electrification and Mobility) project, Soucy International's Defense Division was given a contract to manufacture and deploy an SCRT (Segmented Composite Rubber Track) system prototype for the US Army's GVSC (Ground Vehicle Systems Center). The goal of this initiative was to create, instill, and research vital electrification and mobility technologies needed for military experimentation with both manned and unmanned NGCV (Next-Generation Combat Vehicle) platforms. In January 2021, Elbit Systems was awarded a contract from an APAC country to supply light tanks worth $172 million. The company will supply Sabrah, a steel tracked tank with integrated rubber pads.
Furthermore, in May 2020, the US Army awarded BAE Systems a contract, worth $339 million, for the procurement of M109A7 self-propelled howitzers and M992A3 transporter, ammunition, and tracked vehicles. Thus, continuous investments by unmanned military vehicle manufacturers on rubber tracks are contributing to the global rubber tracks market growth.
Market Coverage
Segment Covered-
Regions Covered-
Competitive Landscape- Bridgestone Corp., Continental AG, Camso Inc., Chermack machine Inc., DIGBITS Ltd., and others.
Key questions addressed by the report
oDeviation from the pre-COVID-19 forecast
oMost affected region and segment
Global Rubber Track Market Report Segment
By Type
By Product
By Application
Global Rubber Track Market Report by Region
North America
Europe
Asia-Pacific
Rest of the World
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