Global Excavators Market Research Report by Product (Crawler, Wheeled, Heavy), by Power Range (Upto 300 HP, 301-500 HP, 501 HP and Above) by Application (Mining, Construction, Waste Management, Others), by Mechanism Type (Electric, Hydraulic, Hybrid, Others), by Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19
Report ID : QR1001494 | Industries : Automotive and Transportation | Published On :June 2022 | Page Count : 245Global Excavators Market
The global Excavators market was valued at USD 44,500.30 million in 2021 which expected to reach USD 65,300.10 million by 2027 at a CAGR 5.72% from 2021-2027.
Excavators are construction machines with a dipper, boom, or bucket mounted on a moveable platform, depending on the application. These excavators help in landscaping, excavation, demolition, picking and placing, material handling, and construction projects, among other things.
Market Drivers
Increasing Adoption of Crawlers to Augment Growth.
The product's demand is expected to be driven by the high demand for oil and gas, infrastructure, commercial spaces, and other items associated with the growing population. Leading companies like Terex Corporation are heavily investing in research and development, which is expected to benefit the global excavators market's growth.
Crawler productivity has increased as a result of the recent market shift from traditional to automated products. These machines are cost-effective and efficient in terms of operational flaws or malfunctions because they automatically notify service centers and reduce costs.
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Market Restraint
High initial investments and maintenance costs
The excavator market's growth is hampered by high initial investments and equipment maintenance costs. Excavators are high-maintenance machines that must be inspected and maintained on a regular basis. These machines are prone to untimely system failures, which can occur as a result of improper operations or usage beyond the specified capacity, necessitating maintenance.
Manufacturers and rental companies provide professional training sessions to workers to reduce the likelihood of machinery breakdown.
Impact of COVID-19
The COVID-19 crisis had a significant impact on the excavators industry. Manufacturing was disrupted by lockdown mandates, which had an impact on production and sales. The market's growth was hampered by a broken supply chain and halted import-exports of key raw materials and components. Furthermore, economic uncertainty influenced demand for construction equipment, causing consumer purchasing patterns to shift and mega construction projects to come to a halt.Excavators are in high demand as a result of the resumption of various construction activities.
Market Segmentation
The Global Excavators Market is segmented into Product, Power Range Application, and Mechanism Type. Based on the Application, the market is segmented into Mining, Construction, Waste Management, Others. Further, market is segmented into The Mechanism Type, the market is segmented into near Electric, Hydraulic, Hybrid, Others s. By Power Range, the market is segmented into Upto 300 HP, 301-500 HP, 501 HP and Above
Regional Analysis
Global Excavators Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market in Asia-Pacific is projected to dominate the Global Excavators market led by the growth in infrastructure development and rise in urbanization in China. Increase in population in countries such as China and India is expected to boost the construction market.
Key Players
Various key players are listed in this report such as Caterpillar Inc, CNH Industrial N.V., Doosan Corporation, Hitachi Construction Machinery Co., Ltd., Hyundai Heavy Industries Ltd, John Deere, Joseph Cyril Bamford Excavators Ltd, Kobelco Construction Machinery Co. Ltd, Komatsu Ltd, Liebherr Group
Market Taxonomy
By Product
- Crawler
- Wheeled
- Heavy
By Power Range
- Upto 300 HP
- 301-500 HP
- 501 HP and Above
By Application
- Mining
- Construction
- Waste Management
- Others
By Mechanism Type
- Electric
- Hydraulic
- Hybrid
- Others
By Region
- North America
- Latin America
- Europe
- China
- Asia Pacific
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Global Excavators Market?
- What will be the growth rate from 2020 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
Global Excavators Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Excavators Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Excavators Market, By Product
5.1 Y-o-Y Growth Comparison, By Product
5.2 Global Excavators Market Share Analysis, By Product
5.3 Global Excavators Market Size and Forecast, By Product
5.3.1 Crawler
5.3.2 Wheeled
5.3.3Heavy
6 Global Excavators Market, By Power Range
6.1 Y-o-Y Growth Comparison, By Power Range
6.2 Global Excavators Market Share Analysis, By Power Range
6.3 Global Excavators Market Size and Forecast, By Power Range
6.3.1 Upto 300 HP
6.3.2 301-500 HP
6.3.3 501 HP and Above
7 Global Excavators Market, By Application
7.1 Y-o-Y Growth Comparison, By Application
7.2 Global Excavators Market Share Analysis, By Application
7.3 Global Excavators Market Size and Forecast, By Application
7.3.1 Mining
7.3.2 Construction
7.3.3 Waste Management
7.3.4 Others
8 Global Excavators Market, By Mechanism Type
8.1 Y-O-Y Growth Comparison, By Mechanism Type
8.2 Global Excavators Market Share Analysis, By Mechanism Type
8.3 Global Excavators Market Size and Forecast, By Mechanism Type
8.3.1 Electric
8.3.2 Hydraulic
8.3.3 Hybrid
8.3.4 Others
9 Global Excavators Market, By Region
9.1 Global Excavators Market Share Analysis, By Region
9.2 Global Excavators Market Share Analysis, By Region
9.3 Global Excavators Market Size and Forecast, By Region
10 North America Excavators Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 North America Excavators Market Share Analysis, By Product
10.3 North America Excavators Market Size and Forecast, By Power Range
10.4 North America Excavators Market Size and Forecast, By Application
10.5 North America Excavators Market Size and Forecast, By Mechanism Type
10.6 North America Excavators Market Size and Forecast, By Country
10.7.1 U.S.
10.7.2 Canada
10.7.3 Mexico
11 Europe Excavators Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Europe Excavators Market Share Analysis, By Product
11.3 Europe Excavators Market Size and Forecast, By Power Range
11.4 Europe Excavators Market Size and Forecast, By Application
11.5 Europe Excavators Market Size and Forecast, By Mechanism Type
11.6 Europe Excavators Market Size and Forecast, By Country
11.6.1 Germany
11.6.2 France
11.6.3 UK
11.6.4. Rest of Europe
12 Asia Pacific Excavators Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Asia Pacific Excavators Market Share Analysis, By Product
12.3 Asia Pacific Excavators Market Size and Forecast, By Power Range
12.4 Asia Pacific Excavators Market Size and Forecast, By Application
12.5 Asia Pacific Excavators Market Size and Forecast, By Mechanism Type
12.6 Asia Pacific Excavators Market Size and Forecast, By Country
12.6.1 China
12.7.2 Japan
12.8.3 India
12.9.4. Rest of Asia Pacific
13 Latin America Excavators Market Analysis and Forecast (2021-2027)
13.1 Introduction
13.2 Latin America Excavators Market Share Analysis, By Product
13.3 Latin America Excavators Market Size and Forecast, By Power Range
13.4 Latin America Excavators Market Size and Forecast, By Application
13.5 Latin America Excavators Market Size and Forecast, By Mechanism Type
13.6 Latin America Excavators Market Size and Forecast, Country
13.7.1. Brazil
13.8.2. Rest of Latin America
14 Middle East Excavators Market Analysis and Forecast (2021-2027)
14.1 Introduction
14.2 Middle East Excavators Market Share Analysis, By Product
14.3 Middle East Excavators Market Size and Forecast, By Power Range
14.4 Middle East Excavators Market Size and Forecast, By Application
14.5 Middle East Excavators Market Size and Forecast, By Mechanism Type
14.6 Middle East Excavators Market Size and Forecast, By Country
14.7.1. Saudi Arabia
14.8.2. UAE
14.9.3. Egypt
14.10.4. Kuwait
14.11.5. South Africa
15Competitive Analysis
15.1 Competition Dashboard
15.2 Market share Analysis of Top Vendors
15.3 Key Development Strategies
16 Company Profiles
16.1 Caterpillar Inc
16.1.1 Overview
16.1.2 Offerings
16.1.3 Key Financials
16.1.4 Business Segment & Geographic Overview
16.1.5 Key Market Developments
16.1.6 Key Strategies
16.2. CNH Industrial N.V.
16.2.1 Overview
16.2.2 Offerings
16.2.3 Key Financials
16.2.4 Business Segment & Geographic Overview
16.2.5 Key Market Developments
16.2.6 Key Strategies
16.3. Doosan Corporation
16.3.1 Overview
16.3.2 Offerings
16.3.3 Key Financials
16.3.4 Business Segment & Geographic Overview
16.3.5 Key Market Developments
16.3.6 Key Strategies
16.4 Hitachi Construction Machinery Co., Ltd.
16.4.1 Overview
16.4.2 Offerings
16.4.3 Key Financials
16.4.4 Business Segment & Geographic Overview
16.4.5 Key Market Developments
16.4.6 Key Strategies
16.5 Hyundai Heavy Industries Ltd
16.5.1 Overview
16.5.2 Offerings
16.5.3 Key Financials
16.5.4 Business Segment & Geographic Overview
16.5.5 Key Market Developments
16.5.6 Key Strategies
16.6 John Deere
16.6.1 Overview
16.6.2 Offerings
16.6.3 Key Financials
16.6.4 Business Segment & Geographic Overview
16.6.5 Key Market Developments
16.6.6 Key Strategies
16.7 Joseph Cyril Bamford Excavators Ltd
16.7.1 Overview
16.7.2 Offerings
16.7.3 Key Financials
16.7.4 Business Segment & Geographic Overview
16.7.5 Key Market Developments
16.7.6 Key Strategies
16.8 Kobelco Construction Machinery Co. Ltd
16.8.1 Overview
16.8.2 Offerings
16.8.3 Key Financials
16.8.4 Business Segment & Geographic Overview
16.8.5 Key Market Developments
16.8.6 Key Strategies
16.9 Komatsu Ltd
16.9.1 Overview
16.9.2 Offerings
16.9.3 Key Financials
16.9.4 Business Segment & Geographic Overview
16.9.5 Key Market Developments
16.9.6 Key Strategies
16.10 Liebherr Group
16.10.1 Overview
16.10.2 Offerings
16.10.3 Key Financials
16.10.4 Business Segment & Geographic Overview
16.10.5 Key Market Developments
16.10.6 Key Strategies