The Global Excavator Equipment Market size is projected to grow from USD 4.5 billion in 2021 to USD X.X billion by 2028, at a CAGR of 5.7%. Major factors driving the growth are increasing demand for construction projects, growing need for infrastructure development, and rising inflow of investments in mining & oil well industries across the globe. The major restraints include high initial investment costs and a lack of skilled labor force for operating these machines.
Excavator equipment is a machine that helps in digging and moving earth, rocks, or any other construction material. They are used for excavation purposes such as land development, demolition work, and road works. Excavators can be seen across various sectors like mining & oil well industry, public utilities sector (i.e., water treatment plants), real estate, etc.
Excavator equipment is the modern version of excavators that are used for digging, loading, and hauling. It can be operated by one person but it weighs a lot so there should also be someone to operate this machine as well. This excavating machinery is usually powered by diesel or gasoline engines which develop revolutions per minute (RPM) ranging from 1000-3000 RPMs depending on their size and specifications.
On the basis of Type, the global excavator equipment market is segmented into Mini Excavators, Small Excavators, Medium-Sized Excavators, and Large-sized excavators.
Mini excavators are small in size and have a maximum payload capacity of 0.33 to 13 tons, which makes them the best choice for excavation works at sites with limited access or on construction sites where space is not readily available. They can also be used in digging trenches for installing water pipelines, sewer lines, etc., as well as performing landscaping jobs like backfilling trenches, loading/unloading materials from trucks and trailers.
Small Excavators are used for digging, loading, and carrying materials such as soil, gravel, or rubble. Usually, small-sized ones have RPM in between 2000-2500. They can be operated by one person and they offer high maneuverability in tight spaces. Their small size means that it is easy to transport them over short distances with trucks or trailers. Small excavators have very large buckets which allow the operator to dig deeper trenches than would otherwise be possible with larger machines.
Medium-sized excavators are designed to handle medium-sized loads. Medium-sized ones have higher RPM than 3000 because they work longer hours and carry heavy loads along with bigger blades to cut through hard surface materials like rocks, concrete, etc. They have a bucket capacity of between 0.75 and one cubic meters, making them suitable for most earthmoving tasks on building sites or in quarries where the terrain is fairly level with few obstacles.
A large-Sized Excavator is a type of excavator that has an engine power of more than 257 kW. Large types are designed specifically for mining operations such as strip mining where a huge amount of material needs to get excavated. It can also be used for construction and other applications where larger excavation might be required. Larger sized equipment is generally preferred over small or medium size if there’s a need to perform heavy-duty tasks from removing rubble/earthwork to shifting large materials like rocks as well as recycling concrete & asphalt wastes. The demand for these machines will surge especially across developing countries with development projects planned around big cities. The large-sized earth moving equipment is designed to handle larger tasks like leveling, grading, and excavating more than 70 tons of material.
On the basis of Application, the global excavator equipment market is segmented into Building/Real Estate Industry, Public Utility Sector, Mining & Oil Well industry.
Excavators are used in the construction industry to dig trenches, drill holes and move materials. Excavator equipment is a major part of this process as it provides high productivity for both small-scale and large-scale projects by shifting soil or rocks from one place to another. This helps reduce digging time significantly which reduces project cost too. Some excavator equipment is available specifically designed for use in building sites as well such as attachments that can be fitted into front shovels of these machines which allows them to perform multiple tasks like grading work, digging trenches & foundation slabs at one time.
The public utility sector is a vital subset of the construction industry. Some examples that fall under this category are gas, water, and electricity companies. These types of businesses have to dig up land in order to install infrastructures such as pipelines, cables, or power lines. Excavator equipment has made this process much easier for these types of organizations by providing them with tools like hydraulic breakers and continuous track loaders (CTLs) which make excavation tasks faster and less labor-intensive than manual digging methods.
Excavator equipment is used in the mining industry for opening up new mines. Excavators are also employed to open and develop existing mine sites, remove waste rock from mined areas or summit slopes, and digging trenches for roads. The use of excavators helps to increase work efficiency as well as reduces operating costs which ultimately lead to higher profits. In addition, mini diggers help with improving safety measures by working at a safe distance away from other workers on site. The Oil Well industry is the primary consumer of excavator equipment. The excavation work in oil wells consists of drilling and splitting to remove rocks, earth, or soil for exploration purposes. Excavators are used by various operators such as metal mining companies that use them to find minerals below the surface of the land.
On the basis of Region, the global excavator equipment market is segmented into North America, Latin America, Europe, and Asia-Pacific. In 2017, Asia Pacific held the largest share of over 37% in terms of revenue generated from sales of excavators globally followed by North America which accounted for 32%. The rising construction activities across countries; especially China is driving growth in this region. Furthermore, increasing government initiatives towards development projects will further boost market growth.
As the world is experiencing unprecedented industrial growth, there's a high demand for excavator equipment across various industries and that has led to significant investments in infrastructure. The global market for excavators is expected to experience robust growth due to factors such as a rise in construction activities (such as roads, bridges, etc.), increased use of excavation machinery on worksites & mining areas, and growing need for land reclamation projects.
Up Market Research published a new report titled “Excavator Equipment Market research report which is segmented by Types (Mini Excavators, Small Excavators, Medium-Sized Excavators, Large-sized Excavators), By Applications (Building/Real Estate, Public Utilities, Mining & Oil Well), By Players/Companies Honeywell, CAT, Komatsu, Doosan, Hyundai, Hitachi, Kobelco, Sumitomo, John Deere, Case Construction, Kubota, JCB, SANY, Zoomlion, Liugong Group, Sunward”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Excavator Equipment Market Research Report
|Mini Excavators, Small Excavators, Medium-Sized Excavators, Large-sized Excavators
|Building/Real Estate, Public Utilities, Mining & Oil Well
|Honeywell, CAT, Komatsu, Doosan, Hyundai, Hitachi, Kobelco, Sumitomo, John Deere, Case Construction, Kubota, JCB, SANY, Zoomlion, Liugong Group, Sunward
|North America, Europe, APAC, Latin America, MEA
|2018 to 2019 (Data from 2010 can be provided as per availability)
|Number of Pages
|Number of Tables & Figures
|Yes, the report can be customized as per your need.
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Mini Excavators, Small Excavators, Medium-Sized Excavators, Large-sized Excavators and By Application Building/Real Estate, Public Utilities, Mining & Oil Well.
Some of the companies that are profiled in this report are:
Excavator Equipment Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Excavator Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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