LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global wheeled excavators market report until 2021. This research report also lists 25 other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global wheeled excavators market for 2017-2021 provides a detailed industry analysis based on the end-users (contractors and rental providers) and geography (EMEA, APAC, and the Americas).
“The global wheeled excavators market is projected to grow to USD 4,210 million by 2021, at a CAGR of nearly 2% over the forecast period. The booming construction of pipelines to provide essential services such as gas, water, and sewage is boosting the market growth,” says Likhitha Bandla, a lead analyst at Technavio for construction research.
Competitive vendor landscape
The global wheeled excavators market is highly competitive with the presence of several fragmented vendors offering various models based on operating weight and engine rated power within the mini excavator segment. The demand for wheeled excavators is increasing at a steady pace because of the rising urban infrastructure development and growth in the residential and non-residential construction sectors. This is also increasing the competition among vendors operating in this segment.
The accelerated growth of the construction market in China has led to the growth of new manufacturers in the excavator market. Riding on the construction boom and beneficial policies from China, these manufacturers have become global giants. The primary competitive factors among the market vendors are related to product design (telescopic boom, knuckle boom, mono boom), product price, product line (in terms of attachments and size of the equipment), bucket and stick forces, digging and dumping height and after-sales service rendered by the manufacturers.
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Top five vendors in the global wheeled excavators market
Caterpillar manufactures and sells mining and construction equipment, natural gas and diesel engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its financial products offer retail and wholesale financing mainly for Caterpillar equipment, machinery, and engines.
Hitachi Construction Machinery
Hitachi Construction Machinery designs, manufactures, and markets construction equipment, transportation equipment, and other machines and services. The company manufactures and supplies a range of excavators. The product line includes excavators such as mini and midi excavators, large excavators, loading shovels, wheeled excavators, and on barge excavators.
Komatsu designs, manufactures, markets, and sells a broad range of construction and mining equipment. The company provides its products and services through the construction, mining, and utility equipment segment and the industrial machinery and others segment.
Volvo Construction Equipment
Volvo Construction Equipment develops, manufactures, and markets equipment for construction and related industries under the brands Volvo, SDLG, and Terex Trucks. The company offers a wide range of excavators, backhoe loaders, skid steer loaders, and wheel loaders.
Xuzhou Construction Machinery Group
Xuzhou Construction Machinery Group (XCMG) was established in 1989. From inception, XCMG has remained on the front line of the Chinese construction machinery industry and evolved into one of the largest, most influential, and aggressive enterprise.
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