About Excavator
Excavators which are hydraulic in nature are heavy construction equipment consisting of a boom, dipper or stick, bucket, and cab on a rotating platform known as the "house". The house is situated atop an undercarriage with tracks or wheels. They are also a natural progression from the steam shovels and often mistakenly called as power shovels. Excavators are also known as diggers, JCBs. Excavator is the machine that can excavate the soil forcefully of various types and then using the hydraulic system a hydraulic force is generated and by utilizing this force bucket is pull back towards the machine. Bucket of excavator can be replaceable. If a front bucket is exchanged with some of the other attachments then excavator can be used for multi-purpose. For example, pile diver, hydraulic jack hammer etc
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.6% |
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies Analyst at AMA Research estimates that United States and Chinese Manufacturers will contribute the maximum growth to Global Excavator market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Atlas Copco (Sweden), Caterpillar/CAT (United States), Komatsu (Japan), Doosan (United States), Volvo Construction Equipment (Belgium), Hyundai (South Korea), Hitachi (Japan), Kobelco (The Netherlands), Sumitomo (Japan) and John Deere (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Case Construction (United States), Kubota (Japan), JCB (United Kingdom), SANY (China), Zoomlion (China), Guangxi Liugong Group Co. (China) and Sunward Intelligent Equipment Co., Ltd (China).
Segmentation Overview
AMA Research has segmented the market of Global Excavator market by Type (Crawler excavators, Backhoe, Suction excavators and Dragline excavators), Application (Demolition, Material handling, Forestry, Underground excavation, Slope finishing and Others) and Region.
On the basis of geography, the market of Excavator has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Size, the sub-segment i.e. Mini Excavator will boost the Excavator market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Building/Real Estate will boost the Excavator market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
A compact electric excavator is trending in the market
Market Growth Drivers:
Rising infrastructure development and Technological upgradation and innovation
Challenges:
High Maintenance Cost for Excavators
Restraints:
High investment and a high cost of machinery and Regulations and safety measures
Opportunities:
Innovation in the developing region is creating opportunities
Market Leaders and their expansionary development strategies
On October 26, 2023, Volvo Construction Equipment expanded its mini excavator reach in China with the acquisition of Shandong Lingong Construction Machinery Co., Ltd. (SDLG). The deal strengthens Volvo's position in the fast-growing market segment.
In December 2023, Hitachi Construction Machinery and Hexagon collaborated to develop and implement autonomous excavator technology for mining and construction applications. This partnership leverages Hexagon's expertise in automation and positioning with Hitachi's construction machinery leadership.
Key Target Audience
Excavator Industry Investors, Excavator Providers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Product Suppliers/ Buyers, Research Institutes, Original Equipment Manufacturer, Component Supplier, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.