The global excavators market was valued at US$46.056 billion in 2018 and is expected to grow at a CAGR of 4.98% over the forecast period to reach a total market size of US$61.633 billion by 2024.
The demand for excavators is witnessing a significant growth due to rising investment in construction industry in major developing economies. Simultaneously, rising number of constructions orders for residential and commercial buildings in the developed regions, on account of ageing structures in these sectors, will add to the growing demand for excavators. Rising investments into research and development by major market players, in order to develop and market state-of-the-art equipment and boost the company's growth, will augment the demand for excavators over the next five years.
By end user, the excavator market is segmented as residential, commercial and industrial. Industrial and commercial segments together account for the largest share in this market on account of increasing number of huge projects in these sectors worldwide. However, the market in residential sector is expected to witness an impressive growth over the projected period and this growth will majorly be attributed to rapidly growing urbanization and rising number of vast housing projects in many regions across the globe.
By geography, the excavators market is segmented as North America, South America, Europe, Middle East and Africa and Asia Pacific. The market in Asia Pacific region holds the largest share on account of huge investments streaming into infrastructure development and in residential sector. Europe and North America also hold a significant share in this market. Regions like Middle East and Africa, and South America hold a relatively small share in this market.
The major players profiled in the Excavators market include Caterpillar, Komatsu Ltd, AB Volvo, Hitachi Construction Machinery Co., Ltd., Liebherr, Hyundai Construction Equipment and Terex Corporation among others.
- Growing infrastructure spending in many regions
- Rising investments into research and development by major market players
- Long working life span of excavators
Key Topics Covered
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.6. Base, and Forecast Years Timeline
2. Research Methodology
2.1. Research Design
2.2. Secondary Sources
3. Executive Summary
4. Market Dynamics
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter's Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. Excavators Market by Type
5.1. Crawlers and Wheel-Based
5.2. Mini Excavators
6. Excavators Market by Customer Type
6.1. Regular Customers
6.2. Rental Companies
7. Excavators Market by End-user
8. Excavators Market by Geography
8.1. North America
8.1.1. United States
8.2. South America
8.4. Middle East and Africa
8.4.1. Saudi Arabia
8.5. Asia Pacific
9. Competitive Intelligence
9.1. Competitive Benchmarking and Analysis
9.2. Recent Investments And Deals
9.3. Strategies of Key Players
10. Company Profiles
10.2. Komatsu Ltd.
10.3. AB Volvo
10.4. Hitachi Construction Machinery Co. Ltd.
10.6. Hyundai Construction Equipment
10.7. Zoomlion Heavy Industry Science & Technology Co. Ltd.
10.8. Terex Corporation
10.9. Doosan Infracore
10.10. Deere & Company
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