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The market for excavators was valued at USD 70,650.8 million in 2022, and from 2023 to 2030, it is anticipated to rise at a CAGR of 6.2%. The Excavator business has seen tremendous expansion as a result of rising investments in the construction sector, particularly in developing nations like India, China, and South Korea. Excavators are hydraulically powered machines featuring an arm-mounted bucket and a drive train. The number of significant road, port, mining, oil and gas construction projects has increased, which has led to a growth in the demand for excavators on a global scale. The idea of excavator rentals, which enables producers and operators to use the equipment to its best potential without having to make substantial capital commitments, is another important factor propelling the excavator sector.
The coronavirus has spread quickly through a number of nations and areas, having a considerable influence on both everyday life and various industries. Production was suspended and supply lines were disturbed by the COVID-19 outbreak. An economic downturn afterwards had an impact on excavator demand from both commercial and non-commercial customers. However, as containment strategies and vaccination programmes reduced the effects of the coronavirus, the mining and construction sectors experienced growth. The demand for excavators increased, which is likely to have contributed to the revival of the excavator sector.
Because they save time and alert service centres in the case of a malfunction or other operational concerns, excavators with technology are more effective than traditional gear. Due to stringent emission control rules, equipment manufacturers are developing environmentally friendly equipment. The primary duty of manufacturers is to deliver technologically advanced, effective equipment that complies with laws and standards and fulfils customer expectations. Excavators are used in confined areas such as forestry, agriculture, and small-scale construction projects. The tool is useful for quickening construction operations and is designed to provide stronger operating abilities, which will elevate the expansion of the excavator business. The incorporation of cutting-edge hydraulic systems and electricity is expected to give mini excavators new technological features and lower emissions. In impoverished nations, an increasing number of smart infrastructure initiatives are being started with strong government support. The demand for hydraulic excavators in the construction industry will rise as a result of healthy consumer real estate investments and rising disposable income. For instance, the U.S. Trade & Development Agency awarded a technical support grant to the Digital Economy Promotion Agency (DEPA) of Thailand in September 2022.
Additionally, rigorous emission control regulations have made it necessary to adopt environmentally friendly equipment, creating profitable growth opportunities for the global Crawler excavator market.Most excavators used in a variety of industrial industries run on diesel fuel. To lessen air pollution caused by heavy machinery with ignition engines, such as excavators, numerous regulatory authorities have passed severe emission rules that all excavator market players must adhere to.
Report Coverage
Global Excavators research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Excavators report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Excavators competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Excavators market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Excavators market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Excavators market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Atlas Copco, Caterpillar Inc.; CNH Global NV; Doosan; Escorts Group; Hitachi Construction Machinery; Hyundai Heavy Industries Ltd; JC Bamford Excavators Ltd.; John Deere; Kobelco, Komatsu Ltd.; Liebherr-International AG; Manitou Group; Mitsubishi; Sany Heavy Industries Co Ltd.; Sumitomo Heavy Industries Ltd; Terex Corporation; Volvo Construction Equipment AB
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Excavators market based on the below-mentioned segments:
Global Excavators Market, By Vehicle Weight
<10
11 to 45
46>
Global Excavators market, By Engine Capacity
Up to 250 HP
250-500 HP
More than 500 HP
Global Excavators Market, By Type
Wheel
Crawler
Global Excavators market, Regional Analysis
The coronavirus has spread quickly through a number of nations and areas, having a considerable influence on both everyday life and various industries. Production was suspended and supply lines were disturbed by the COVID-19 outbreak. An economic downturn afterwards had an impact on excavator demand from both commercial and non-commercial customers. However, as containment strategies and vaccination programmes reduced the effects of the coronavirus, the mining and construction sectors experienced growth. The demand for excavators increased, which is likely to have contributed to the revival of the excavator sector.
Because they save time and alert service centres in the case of a malfunction or other operational concerns, excavators with technology are more effective than traditional gear. Due to stringent emission control rules, equipment manufacturers are developing environmentally friendly equipment. The primary duty of manufacturers is to deliver technologically advanced, effective equipment that complies with laws and standards and fulfils customer expectations. Excavators are used in confined areas such as forestry, agriculture, and small-scale construction projects. The tool is useful for quickening construction operations and is designed to provide stronger operating abilities, which will elevate the expansion of the excavator business. The incorporation of cutting-edge hydraulic systems and electricity is expected to give mini excavators new technological features and lower emissions. In impoverished nations, an increasing number of smart infrastructure initiatives are being started with strong government support. The demand for hydraulic excavators in the construction industry will rise as a result of healthy consumer real estate investments and rising disposable income. For instance, the U.S. Trade & Development Agency awarded a technical support grant to the Digital Economy Promotion Agency (DEPA) of Thailand in September 2022.
Additionally, rigorous emission control regulations have made it necessary to adopt environmentally friendly equipment, creating profitable growth opportunities for the global Crawler excavator market.Most excavators used in a variety of industrial industries run on diesel fuel. To lessen air pollution caused by heavy machinery with ignition engines, such as excavators, numerous regulatory authorities have passed severe emission rules that all excavator market players must adhere to.
Report Coverage
Global Excavators research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Excavators report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Excavators competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Excavators market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Atlas Copco, Caterpillar Inc.; CNH Global NV; Doosan; Escorts Group; Hitachi Construction Machinery; Hyundai Heavy Industries Ltd; JC Bamford Excavators Ltd.; John Deere; Kobelco, Komatsu Ltd.; Liebherr-International AG; Manitou Group; Mitsubishi; Sany Heavy Industries Co Ltd.; Sumitomo Heavy Industries Ltd; Terex Corporation; Volvo Construction Equipment AB |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Excavators Market from 2021 to 2030.
- Market Forecast for Excavators Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Excavators competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Excavators
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Excavators market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Excavators market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Atlas Copco, Caterpillar Inc.; CNH Global NV; Doosan; Escorts Group; Hitachi Construction Machinery; Hyundai Heavy Industries Ltd; JC Bamford Excavators Ltd.; John Deere; Kobelco, Komatsu Ltd.; Liebherr-International AG; Manitou Group; Mitsubishi; Sany Heavy Industries Co Ltd.; Sumitomo Heavy Industries Ltd; Terex Corporation; Volvo Construction Equipment AB
Primary Target Market
- Market Players of Excavators
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Excavators market based on the below-mentioned segments:
Global Excavators Market, By Vehicle Weight
<10
11 to 45
46>
Global Excavators market, By Engine Capacity
Up to 250 HP
250-500 HP
More than 500 HP
Global Excavators Market, By Type
Wheel
Crawler
Global Excavators market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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