Product Code: SR112024A2391
The global excavator market size reached US$ 91.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 269.2 Billion by 2032, exhibiting a growth rate (CAGR) of 12.3% during 2024-2032.
An excavator refers to a kind of heavy construction equipment that is used for digging excavations and trenching purposes. It is also used for digging holes, foundations, demolitions, dredging rivers, material handling and lifting heavy objects. It uses hydraulic motors powered by an electric, diesel or petrol engine to generate hydraulic force and control the mechanical arm of the machine. The machine consists of a rear/back actor, sipper, undercarriage, digging bucket and a cabin on a rotating platform. In comparison to the traditionally used machines, modern excavators are designed to keep the counterweights inside the track width during swinging, thereby keeping the movement safe and enhancing the maneuverability.
Significant growth in the construction industry is one of the key factors creating a positive outlook for the market. Excavators are mostly used in large-scale residential and commercial construction, development of roads and ports and mining projects across the globe. Furthermore, the widespread adoption of automated excavators is also driving the market growth. These excavators aid in minimizing labor costs and facilitate remote tracking of operations. Additionally, various product innovations, such as the utilization of fuel cell-based electric motors to power excavators, are acting as other growth-inducing factors. In comparison to a diesel engine, fuel cells are lighter and more efficient, thereby increasing the cabin space for the operator and improving the overall productivity of the machine. Other factors, including the advent of equipment rental services, along with extensive infrastructural development undertaken by the governments of various nations, are expected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global excavator market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product, mechanism type, power range and application.
Breakup by Product:
Mini/Compact
Crawler
Wheeled
Heavy
Breakup by Mechanism Type:
Electric
Hydraulic
Hybrid
Breakup by Power Range:
Upto 300 HP
301-500 HP
501 HP and Above
Breakup by Application:
Mining
Construction
Waste Management
Others
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being 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, Sany Heavy Industries Co. Ltd., Terex Corporation, Yanmar Construction Equipment Co. Ltd. and Volvo Construction Equipment AB.
Key Questions Answered in This Report:
- How has the global excavator market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global excavator market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the mechanism type?
- What is the breakup of the market based on the power range?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global excavator market and who are the key players?
- What is the degree of competition in the industry?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Excavator Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Product
- 6.1 Mini/Compact
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Crawler
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Wheeled
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Heavy
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Mechanism Type
- 7.1 Electric
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Hydraulic
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Hybrid
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
8 Market Breakup by Power Range
- 8.1 Upto 300 HP
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 301-500 HP
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 501 HP and Above
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
9 Market Breakup by Application
- 9.1 Mining
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Construction
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Waste Management
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Others
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.2 Asia Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Caterpillar Inc.
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.1.3 Financials
- 15.3.1.4 SWOT Analysis
- 15.3.2 CNH Industrial N.V.
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.2.3 Financials
- 15.3.2.4 SWOT Analysis
- 15.3.3 Doosan Corporation
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.3.3 Financials
- 15.3.4 Hitachi Construction Machinery Co., Ltd.
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.4.3 Financials
- 15.3.4.4 SWOT Analysis
- 15.3.5 Hyundai Heavy Industries Ltd
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.6 John Deere
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.7 Joseph Cyril Bamford Excavators Ltd.
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.8 Kobelco Construction Machinery Co. Ltd.
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.9 Komatsu Ltd.
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.9.3 Financials
- 15.3.9.4 SWOT Analysis
- 15.3.10 Liebherr Group
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.11 Sany Heavy Industries Co. Ltd.
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.12 Terex Corporation
- 15.3.12.1 Company Overview
- 15.3.12.2 Product Portfolio
- 15.3.13 Yanmar Construction Equipment Co., Ltd.
- 15.3.13.1 Company Overview
- 15.3.13.2 Product Portfolio
- 15.3.14 Volvo Construction Equipment AB
- 15.3.14.1 Company Overview
- 15.3.14.2 Product Portfolio
- 15.3.14.3 Financials
- 15.3.14.4 SWOT Analysis