Global excavator market
DUBLIN, April 3, 2024 (GLOBE NEWSWIRE) — Vehicle weight (< 10、46 >), Engine Power (Up to 250 HP, Over 500 HP), “Global Excavator Market Size, Share and Trend Analysis Report” by Type (Wheel, Crawler), Drive Type (Electric, ICE), Region, and Segment Forecasts, 2024-2030” report has been added. ResearchAndMarkets.com Recruitment.
The global excavator market is expected to reach USD 108.37 billion by 2030, registering a CAGR of 5% from 2024 to 2030. The demand for excavators around the world is increasing due to the focus on building robust transportation networks and exploiting vast mineral resources. Manufacturers are meeting this demand by offering a variety of excavator models specifically tailored to meet the unique requirements of construction and mining activities.
The increased emphasis on sustainable construction practices and the integration of advanced technology in construction machinery is driving demand for more energy-efficient and environmentally friendly machinery. Wheel excavators equipped with advanced hydraulic systems and emission reduction technologies are required to improve fuel efficiency and reduce environmental impact. As governments and regulators around the world continue to push for greener construction practices, demand for wheel excavators is gaining momentum, leading to a surge in global adoption.
Manufacturers continue to face several challenges due to strict legislation and consumers are demanding less environmental impact from the equipment they install, so manufacturers are complying with environmental regulations and meeting customer requirements. We are focusing on developing electric excavators that respond to changes. For example, Volvo Construction Equipment, a subsidiary of AB Volvo, launched his 50 ton electric excavator EC500 in India in December 2023. The company also launched the L120 Electric and EC80 Electric wheel loaders.
Market players are focusing on diversifying the uses of excavators to increase sales. In September 2022, Liebherr introduced a crawler excavator with a wide range of application possibilities. These Liebherr crawler excavators, weighing more than 50 tonnes, are gaining attention on the French market and are particularly successful in demolition and quarrying operations in the northern and north-eastern regions of France. Liebherr’s crawler excavators offer high performance, work stability and flexibility and are suitable for a wide variety of tasks. It offers a high level of operator comfort, along with features such as a suspension seat and excellent sound insulation in the cab. Compared to previous generation excavators, these models contribute to a significant reduction in fuel consumption, requiring only 30 liters per hour. The excavator also has considerable digging power and lifting capacity.
Excavator Market Report Highlights
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Based on vehicle weight, the 46> segment dominated the market with over 36% share in 2023 due to growth in infrastructure development in both developing and developed countries.
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Based on engine capacity, the segment up to 250 horsepower gained the largest market share in 2023. Increasing urbanization and the need to modernize aging infrastructure is expected to see governments around the world invest heavily in construction projects such as bridges, roads, and buildings.Driving demand for excavators up to 250 horsepower
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By type, crawler segment dominated the market due to rapid expansion of mining and agriculture sectors in various regions.
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The market in 2023 will be dominated by the Asia-Pacific region. Governments and private companies are investing heavily in building transportation networks, urban areas, and public works.
Key market trends
Analysis of market drivers
Market constraint analysis
industry opportunities
Key attributes:
|
report attributes |
detail |
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number of pages |
120 |
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Forecast period |
2023-2030 |
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Estimated market value in 2023 (USD) |
$75.85 billion |
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Projected market value to 2030 (USD) |
$108.37 billion |
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compound annual growth rate |
5.0% |
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Target area |
global |
Main topics covered:
Chapter 1 Excavator Market: Methodology and Scope
Chapter 2 Excavator Market: Overview
2.1. Market outlook
2.2. Segment outlook
2.3. Competitive Insights
Chapter 3 Excavator Market: Variables, Trends, and Scope
3.1. Market introduction/system outlook
3.2. Market size and growth prospects (USD million)
3.3. Industry value chain analysis
3.4. Market trends
3.4.1. Analysis of market drivers
3.4.1.1. Increased investment in the construction industry
3.4.1.2. Increasing technological progress
3.4.2. Market constraint analysis
3.4.2.1. Fluctuations in raw material prices
3.4.3. Industry opportunities
3.4.3.1. Rapid advances in battery technology
3.5. Excavator market analysis tools
Chapter 4 Excavator Market: Vehicle Weight Estimation and Trend Analysis
4.1. Segment Dashboard
4.2. Excavator Market: Vehicle Weight Transfer Analysis, USD Million, 2023 and 2030
4.3. < 10
4.4. 11-45
4.5.46>
Chapter 5 Excavator Market: Engine Capacity Estimation and Trend Analysis
5.1. Segment Dashboard
5.2. Excavator Market: Engine Capacity Trend Analysis, USD Million, 2023 and 2030
5.3. Up to 250 horsepower
5.4. 250-500 horsepower
5.5. More than 500 horsepower
Chapter 6 Excavator Market: Type Estimation and Trend Analysis
6.1. Segment Dashboard
6.2. Excavator Market: Type Trend Analysis, USD Million, 2023 and 2030
6.3. Wheels
6.4. Lifting aids
Chapter 7 Excavator Market: Drive Type Estimation and Trend Analysis
7.1. Segment Dashboard
7.2. Excavator Market: Drive Type Operation Analysis, Million USD, 2023 and 2030
7.3. Electricity
7.4. Ice
Chapter 8 Excavator Market: Regional Estimates and Trend Analysis
Chapter 9 Competitive Environment
9.1. Recent developments and impact analysis by key market participants
9.2. Company classification
9.3. Market position of the company
9.4. Company market share analysis
9.5.Corporate heat map analysis
9.6. Strategy Mapping
9.7. Company Profile
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Caterpillar Corporation
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CNH Industrial NV
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Doosan Co., Ltd.
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Escort Kubota Co., Ltd.
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Hitachi Construction Machinery Co., Ltd.
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Hyundai Construction Machinery Co., Ltd.
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JC BAMFORD EXCAVATORS LIMITED.
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Dear & Company
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Kobelco Construction Machinery Co., Ltd.
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Komatsu Co., Ltd.
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Liebherr International AG
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manitou group
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Hydromech
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Sanyi Heavy Industries Co., Ltd.
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Sumitomo Heavy Industries, Ltd.
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Mitsubishi Heavy Industries – VST Diesel Engines Pvt Ltd.
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Terex Co., Ltd.
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Volvo Construction Machinery AB
For more information on this report, please visit https://www.researchandmarkets.com/r/yp5wuh.
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