Excavator Market Overview 2023-2032 – Market Growth Analysis, Trends And Drivers

The Business Research Company’s Excavator Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Excavator Global Market Report 2023 evaluates excavator market size, growth rate, drivers, trends, and major companies.

The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The global excavator market size is expected to grow from $47.74 billion in 2022 to $50.14 billion in 2023 at a compound annual growth rate (CAGR) of 5.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The excavator market size is expected to grow to $59.98 billion in 2027 at a CAGR of 4.6%.

The growing construction industry across the globe is contributing to the growth of the excavator market. The construction industry refers to the industrial division of production and trade that is concerned with the construction, repair, renovation, and maintenance of infrastructure. The construction industry uses an excavator as it offers advantages such as easily navigating rough terrain, being highly versatile, and being able to be transported easily and efficiently. For instance, in May 2022, according to the National Highways Authority of India report, an autonomous agency of the government of India that develops, maintains, and manages national highways, the rate of annual construction of four-, six-, and eight-lane national highways had increased by more than 300% in seven years, reaching 3,963 km during 2021–22. Therefore, the increased growth of the construction industry is anticipated to propel the excavator market growth over the coming years.

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The excavator market segments in the report are:

1) By Type: Mini/ Compact Excavator, Crawler Excavator, Wheeled Excavator, Other Type

2) By Operating Weight:  Upto 50K Kg, 51K to 75K Kg, 76K Kg and Above

3) By Mechanism Type: Electric, Hydraulic, or Hybrid

4) By Power Range: 0-300 BHP, 300-500 BHP, and 500 And Above

5) By End-Use Industry: Construction, Forestry And Agriculture, Mining and Other End-Use Industries

The table of contents in TBRC’s excavator market report includes:

1. Executive Summary
2. Excavator Market Characteristics
3. Excavator Market Trends And Strategies
4. Excavator Market – Macro Economic Scenario
5. Excavator Market Size And Growth
6. Excavator Market Segmentation
7. Excavator Market Regional And Country Analysis

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27. Excavator Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Excavator Market
29. Excavator Market Future Outlook and Potential Analysis

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