The report “Global Excavator Market, By Type (Mini, Heavy, Wheeled, and Crawler Type), By Power Range (0-300 HP, 301-500 HP, and 501 & Above HP), By End-user (Infrastructure, Mining, and Waste Management), and Region – Global Forecast to 2029″ Global excavator market is projected to grow from US$ 45.8 billion in 2020 to US$ 67.2 billion by 2029. Global excavator market is driven by fast growing urbanization. In addition, growth in construction expenditure and growing economy are another factors propelling growth of the global excavator market. Some of the noteworthy trends and developments of the global market is growing demand for fuel efficient excavator. Moreover, introduction of new product and usage of high efficiency hydraulic fluids are expected to fuel growth of the global excavator market over the forecast period. Increasing investments in the residential construction segment followed by transport infrastructure development is projected to create opportunities for growth of the global market over the forecast period.
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- On June 2019, Hitachi Construction Machinery Co., Ltd. has signed an agreement for joint investment in the Hitachi Construction Machinery Operators Training Center Co., Ltd. which implements skills training for construction machinery and other equipment
- On April 2019, Doosan Infracore has announced that Doosan Infracore and Doosan Bobcat has participated in BAUMA 2019 which is a construction machinery exhibition held in Munich, Germany. BAUMA is the world’s largest construction machinery trade show
Key Market Insights from the report:
The global excavator market accounted for US$ 45.8 billion in 2020 and is projected to register a moderate CAGR of 4.3 % over the forecast period. The market report has been segmented on the basis of application, end-user, and region.
- By type, the global excavator market is segmented into mini, heavy, wheeled, and crawler type. The crawler excavator type segment dominates the global market, followed by mini excavator type segment, owing to increasing demand for technologically advanced and fuel-efficient excavators.
- By power range, the global excavator market is bifurcated into 0-300 HP, 301-500 HP, and 501 & above HP.
- By end-user, the global excavator market is categorized into infrastructure, mining, and waste management. The end-user excavator segment has expanded significantly due to increase in constructor and mining segments, and rise in awareness about waste management.
- By region, Asia Pacific dominates the global excavator market, owing to growth in infrastructure development and rise in urbanization in China. Growing population in countries such as China and India is expected to boost the construction market over the forecast period. Thus, propel growth of the global market.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “ Global Excavator Market” By Type (Mini, Heavy, Wheeled, and Crawler Type), By Power Range (0-300 HP, 301-500 HP, and 501 & Above HP), By End-user (Infrastructure, Mining, and Waste Management), and by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) – forecast till 2029
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The prominent player operating in the global excavator market includes Caterpillar Inc., Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Kobelco Construction Equipment, Volvo Construction Equipment, Doosan Corp., Hyundai Motor Company, Sumitomo Corp., John Deere India Private Ltd., Case Construction Equipment, Inc., and Kubota Corp.
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