According to IMARC Group’s latest report, titled “Excavator Market Size, Trends, Share, Growth, Opportunity and Forecast 2020-2025”, the global excavator market grew at a CAGR of around 5% during 2014-2019. Looking forward, IMARC Group expects the global market to continue its moderate growth by 2025.
An excavator refers to heavy construction equipment designed for digging excavations and trenching purposes. It is also deployed for digging holes, demolitions, foundations, material handling, and lifting heavy objects. Excavator uses hydraulic motors backed by an electric, petrol, or diesel engine to produce hydraulic force and operate the mechanical arm of the machine. The machine primarily consists of a rear/back actor, undercarriage, sipper, digging bucket, and a cabin on a rotating platform.
The rising utilization of excavators in large-scale commercial and residential construction, development of roads and ports, and mining projects is also propelling the market growth. Furthermore, the growing adoption of automated excavators is also augmenting the demand for excavator. These excavators help in reducing labor costs and allow remote tracking of operations. Additionally, the introduction of fuel cell-based electric motors to power excavators, is also providing a thrust to the global market. Compared to the diesel engine, fuel cells are lighter and more efficient, thereby increasing the cabin space for the machine operator and improving the overall productivity of the equipment. Several other factors, including the wide availability of equipment rental services, along with extensive infrastructural development undertaken by the governments of numerous nations, are expected to further propel the global market for excavators in the coming years.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Excavator Market Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the excavator market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Hitachi Construction Machinery Co. Ltd.
Terex Corporation
CNH Industrial N.V.
Liebherr Group
Hyundai Heavy Industries Ltd.
Volvo Construction Equipment AB.
John Deere, Joseph Cyril Bamford Excavators Ltd.
Caterpillar Inc.
Sany Heavy Industries Co. Ltd.
Doosan Corporation
Komatsu Ltd.
Yanmar Construction Equipment Co. Ltd.
Kobelco Construction Machinery Co. Ltd.
The report has segmented the global excavator market on the basis of product, mechanism type, power range, application and region.
Breakup by Product:
Mini/Compact
Crawler
Wheeled
Heavy
Breakup by Mechanism Type:
Electric
Hydraulic
Hybrid
Breakup by Power Range:
Upto 300 HP
301-500 HP
501 HP and Above
Breakup by Application:
Mining
Construction
Waste Management
Others
Breakup by Region:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
Explore report description with table of contents: https://www.imarcgroup.com/excavator-market
Key highlights of the report:
Market Performance (2014-2019)
Market Outlook (2020-2025)
Market Drivers and Success Factors
Industry Trends
The Impact of COVID-19 on the Global Market
Structure of the Global Market
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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