Excavator Market
Overview and Scope
An excavator refers to construction equipment used in the construction industry to extract earth, move, or transport loose gravel, sand, or soil on a construction site. These excavators help with picking and placing, digging, landscaping, demolition, and material handling tasks.
Sizing and Forecast
The excavator market size has grown strongly in recent years. It will grow from $50.29 billion in 2023 to $53.22 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to earthmoving and excavation needs, construction industry growth, mining sector expansion, demolition operations, utility and pipeline installation, landscaping and grading, forestry and logging.
The excavator market size is expected to see strong growth in the next few years. It will grow to $65.79 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to focus on operator comfort and safety, focus on sustainability, versatility in attachment compatibility, emerging market development, focus on fuel efficiency and emissions reduction. Major trends in the forecast period include technological advancements in excavator design, hybrid and electric excavators, telematics and iot integration, autonomous and remote-controlled excavators, rental market growth, , rise in compact and mini excavators..
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/excavator-global-market-report
Segmentation & Regional Insights
The excavator market covered in this report is segmented –
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, Hybrid
4) By Power Range: 0-300 BHP, 300-500 BHP, 500 And Above
5) By End-Use Industry : Construction, Forestry And Agriculture , Mining , Other End-Use Industry
Asia-Pacific was the largest region in the excavator market in 2023. The regions covered in the excavator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8134&type=smp
Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the excavator market report are Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., Hyundai Heavy Industries Co. Ltd., JCB Limited, Komatsu Limited, Terex Corporation, Volvo Construction Equipment, Liebherr Group, Kobelco Construction Machinery Co. Ltd., Sany Heavy Industries Co. Ltd., Sandvik AB, Bobcat Company, LiuGong Machinery Corporation, CNH Industrial NV, BEML Limited, Takeuchi Mfg Company Limited, Xuzhou Construction Machinery Group Co. Ltd., Doosan Infracore Co. Ltd., Wacker Neuson SE, Yanmar Holdings Co. Ltd., Atlas Copco AB, Bell Equipment Limited, Foton Lovol International Heavy Industry Co. Ltd., Guangxi LiuGong Machinery Co. Ltd., Deere & Company, Kato Works Co. Ltd., Kubota Corporation, Mahindra & Mahindra Ltd., Manitou Group, Manitowoc Company Inc., Mitsubishi Heavy Industries Ltd., Palfinger AG
The excavator market report table of contents includes:
1. Executive Summary
…..
Explore the trending research reports from TBRC:
https://topprnews.com/oral-care-market-size
https://topprnews.com/panel-filters-market-growth
https://topprnews.com/non-volatile-memory-express-market
https://goodprnews.com/solar-tracker-global-market
https://goodprnews.com/warehouse-robotics-global-market
https://goodprnews.com/aeroengine-composites-global-market
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info
Healthcare Blog: https://healthcareresearchreports.com
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Overview of the Italy Coffee Market The Italy Coffee Market was valued at USD 4.03 billion in…
Columbia Coffee Market Overview The Columbia Coffee Market is a significant player in the global coffee industry,…
Mexico Coffee Market Overview The Mexico Coffee Market, valued at USD 3.154 billion in 2023, is…
Operational Predictive Maintenance Market, 2024 report by The Business Research Company offers comprehensive insights into…
Overview of the Netherlands Coffee Market The Netherlands Coffee Market was valued at approximately USD…
US Social Commerce Market Overview The U.S. Social Commerce Market, valued at USD 95.3 billion in 2023, is…