According to Cognitive Market Research, the global Undercarriage Components Market size is USD 7124.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 4.50% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 2849.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 2137.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 1638.57 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.
Latin America had a market share for more than 5% of the global revenue with a market size of USD 356.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 142.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
The Load-based ASRS held the highest Undercarriage Components Market revenue share in 2024.
