LONDON--(BUSINESS WIRE)--Technavio’s global crawler excavators market research report forecasts the market to grow at a CAGR of around 6% during the forecast period.
The development of hybrid excavators will be one of the major trends in the global crawler excavators market during 2018-2022. The stringent environmental regulations have led to manufacturers making considerable investments in new technological advances to reduce the emission of hazardous particles from crawler excavators. Similarly, end-users have been concentrating on adopting fuel-efficient crawler excavators because of the rising fuel cost and depletion of natural resources.
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According to Technavio analysts, one of the key drivers for the global crawler excavators market is the increasing automation in the construction industry:
Global crawler excavators market: Increasing automation in the construction industry
Construction is among the largest industries in the world, with an annual market capitalization exceeding USD 10 trillion. The growing use of automation in the construction industry has assisted in overcoming various problems such as a drop in the quality of manual work and labor shortage. Automation is becoming increasingly important due to the focus on the safety of labor and working conditions.
According to a senior analyst at Technavio for research on construction, “Automation has the potential to improve the quality, safety, and productivity of the construction industry owing to the emergence of new innovative technologies. Some of the advantages of automation in the construction industry include uniformity in quality and high accuracy, a decrease in casualties in dangerous work environments, and reduction in operational cost.”
Global crawler excavators market: Segmentation analysis
This global crawler excavators market analysis report provides market segmentation by the application (construction, mining, agriculture, forestry, and others), by product (small crawler excavators, medium crawler excavators, and large crawler excavators), and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the four major applications, the construction segment held the largest crawler excavators market share in 2017, contributing to over 31% of the market. This application segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for more than 37% share. It was followed by APAC and EMEA respectively. The Americas is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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