Undercarriage Component Market Report 2026

The undercarriage component market size has grown strongly in recent years. It will grow from $6.44 billion in 2025 to $6.8 billion in 2026 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to construction equipment usage growth, mining sector expansion, reliance on tracked machinery, demand for equipment durability, infrastructure development.

The undercarriage component market size is expected to see strong growth in the next few years. It will grow to $8.33 billion in 2030 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to automation in heavy equipment, demand for low-maintenance components, expansion of mining projects, sustainable material adoption, predictive maintenance integration. Major trends in the forecast period include demand for durable undercarriage parts, growth in aftermarket replacement, adoption of advanced wear-resistant materials, expansion of heavy equipment fleets, focus on lifecycle cost reduction.

The rising demand for electric vehicles is expected to drive the growth of the undercarriage components market going forward. Electric vehicles are automobiles powered by electric motors that draw energy from rechargeable battery packs or other energy storage systems. The increasing demand for electric vehicles is driven by factors such as environmental concerns, expanding charging infrastructure, social and cultural shifts toward sustainable mobility, and favorable economic conditions. Undercarriage components are critical to the efficient operation, safety, and overall performance of electric vehicles, as they help address the specific requirements associated with electric propulsion systems. For example, in January 2024, according to the U.S. Department of Energy, a U.S.-based government agency, plug-in electric vehicles accounted for 9.8% of all light-duty vehicle sales in December 2023, up from 7.8% in December 2022. Throughout 2023, plug-in vehicles consistently represented at least 8% of monthly sales, compared with a range of 5.5% to 7.8% in 2022. Therefore, the increasing demand for electric vehicles is fueling the growth of the undercarriage components market.

Major companies in the undercarriage components market are concentrating on developing advanced solutions, such as high-performance undercarriage parts, to improve equipment durability, efficiency, and operational reliability. High-performance undercarriage components include essential parts such as track rollers, carrier rollers, front idlers, sprockets, and track chains, which are engineered to withstand harsh working environments and reduce maintenance downtime. For instance, in February 2025, Quanzhou Peers Construction Machinery Parts Co. Ltd., a China-based manufacturer of excavator and bulldozer components, began production of its 2025 range of undercarriage parts. This product line includes track bottom rollers, upper rollers, front idlers, track chains, sprockets, and key attachment components such as bucket pins, bucket bushings, and bucket teeth. Designed using advanced manufacturing techniques and high-quality materials, these components are intended to enhance performance, extend service life, and lower operating costs for construction and mining equipment operators.

In November 2024, H-E Parts International LLC, a U.S.-based manufacturing company, acquired Brake Supply Co. Inc. for an undisclosed amount. Through this acquisition, H-E Parts aims to strengthen its undercarriage component remanufacturing capabilities in North America by integrating Brake Supply’s remanufacturing facilities, parts warehouses, and skilled workforce. Brake Supply Co. Inc. is a U.S.-based company specializing in the remanufacturing of components for mining and heavy construction machinery.

Major companies operating in the undercarriage component market report include Caterpillar Inc., Deere And Company, Volvo Group, ThyssenKrupp AG, Komatsu Limited, SANY Group, Hitachi Construction Machinery, Doosan Bobcat, CASE Construction Equipment, Wirtgen Group, Topy Industries Ltd., Titan International Inc., Daechang Forging Co. Ltd., Hoe Leong Corporation Ltd., Valuepart Inc., New Holland Construction, Dozco Pvt. Ltd., Verhoeven Group, DIGBITS Ltd., Xuzhou Construction Machinery Group Co. Ltd. (XCMG), Taiheiyo Seiki K.K.

North America was the largest region in the undercarriage component market in 2025. The regions covered in the undercarriage component market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the undercarriage component market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The undercarriage component market consists of sales of braking system components, drive shafts, and suspension systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.