LONDON--(BUSINESS WIRE)--The global hydraulic excavator market size is poised to grow by USD 5.55 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of over 2% during the forecast period.
Read the 139-page research report with TOC on "Hydraulic excavator Market Analysis Report by end-users (contractors, rental providers, and others), application (construction, mining, and utilities), technology (crawler excavators, mini excavators, and wheeled excavators), and geography (the Americas, APAC, and EMEA) 2019-2023 at: https://www.technavio.com/report/global-hydraulic-excavator-market-industry-analysis?
The market is driven by the increasing requirement for large-scale project management. Also, the increasing popularity of hybrid technology is anticipated to further boost the growth of the market during the forecast period.
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Organizations are concentrating on cultivating and managing the resources necessary for efficient product outputs. This increases the requirement for efficient solutions such as hydraulic excavators for large-scale project management. Some of the major benefits of using hydraulic excavators in large-scale project management include a reduction in response time to ensure efficient process management, the increase in revenue possibilities, and increase in overall productivity by deploying machine-driven processes. Thus, the increasing requirement for large-scale project management will drive the growth of the market during the forecast period.
The increasing popularity of hybrid technology will be another major growth factor in the global hydraulic excavator market. Hybrid hydraulic excavators have a swing framework, which incorporates electric motors and it charges a capacitor by the power generated through swing deceleration. This power is used to assist the hydraulic motor in swing acceleration. The mother motor that is associated with the hydraulic pumps adjusts to the measure electric energy in the capacitor. It helps in the generation of power and supports the engine, which helps in reducing the fuel utilized. Hybrid vehicles are being widely adopted as they provide improved productivity and are more efficient, resulting in increased cost savings.
To find out more about Hydraulic excavator Market Research 2019-2023, https://www.technavio.com/talk-to-us?report=IRTNTR30192
The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Caterpillar
- Hitachi Construction Machinery
- Komatsu
- Terex
- Volvo
Market Segmentation by End-Users:
The Hydraulic Excavator Market can be broadly categorized into the following end-user segment:
- Contractors
- Rental providers
- Others
Key Regions for the Hydraulic Excavator Market:
Featuring a breakdown of region-wise market shares until 2019.
- The Americas
- APAC
- EMEA
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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
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Related Reports on Industrials are:
Hydraulic Cylinder Market – Global Hydraulic Cylinder Market by end-users (agriculture, CMMH, A&D, and IE), and geography (the Americas, APAC, and EMEA).
Hydraulic Breakers Market – Global Hydraulic Breakers Market by products (small and medium range and large range) and by end-user (mining industry and construction industry) and geography (the Americas, APAC, and EMEA).
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