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Earthmoving Equipment Market

Global Earthmoving Equipment Market Size, Share, Growth, Trends, Price, Forecast: By Product Type: Excavators, Loaders, Dump Trucks, Others; By Application: Mining, Construction, Agriculture and Forestry, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Earthmoving Equipment Market Outlook

The global earthmoving equipment market attained a value of nearly USD 84.32 billion in 2023. The market is projected to grow at a CAGR of 2.7% between 2024 and 2032 to reach a value of around USD 107.16 billion by 2032.

 

Key Trends in the Market

Earthmoving equipment refers to a type of heavy-duty machinery designed for applications involving earthworks, such as the displacement of rock and soil. This equipment is generally used for digging up foundations or landscaping. Earthmoving equipment uses hydraulic drive as its primary motion source, which enables it to carry out heavy digging operations.

 

Global Earthmoving Equipment Market

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  • The thriving construction sector across developed and developing countries, supported by rising population, favourable government initiatives, and the rapid development of smart cities, is driving the demand for earthmoving equipment in applications like digging trenches and grading soil, among others.
  • Leading heavy industrial machinery manufacturers are expanding their product portfolio and launching innovative earthmoving equipment like excavators for use in diverse applications, including mass excavation, large-site digging, and large-scale mining. This factor is one of the crucial earthmoving equipment market trends.
  • The availability of earthmoving equipment rental services, along with the flexibility of online booking, is another key trend in the market for earthmoving equipment.
  • Heightening demand for heavy-duty equipment, such as bulldozers, across the agriculture sector to facilitate various processes, like soil spreading, material transporting, and shallow digging, among others, is likely to aid the earthmoving equipment market growth in the forecast period.

 

Market Analysis

Based on product type, the market is divided into include excavators, loaders, and dump trucks, among others. On the basis of application, the market is classified into mining, construction, and agriculture and forestry, among others. The major regional markets for earthmoving equipment are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Earthmoving Equipment Market

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global earthmoving equipment market report, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

 

  • Caterpillar Inc.
  • Komatsu Ltd.
  • Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
  • Sany Heavy Industry Co., Ltd
  • Deere & Company
  • AB Volvo
  • Liebherr-International Deutschland GmbH
  • Hitachi Construction Machinery Co., Ltd.
  • Sandvik AB
  • Others

 

Market Share by Product Type

Loaders account for a significant portion of the earthmoving equipment market. This can be attributed to their high load-carrying capacity, versatility, and easy operability. Low operating costs of the equipment as compared to its counterparts, along with its growing availability in different sizes, are also boosting its demand.

 

In addition, the high load-carrying capacity of loaders enables them to carry out infrastructure construction activities quickly and efficiently, surging their demand across the construction sector.

 

Global Earthmoving Equipment Market

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Market Share by Region

The Asia Pacific market for earthmoving equipment is likely to witness a healthy growth in the forecast period, owing to the large-scale investments in renovation activities in the region. The rapid development of parks, highways, roads, and railways across emerging economies such as India, China, and the Philippines, among others, is also fuelling the earthmoving equipment market growth.

 

Moreover, due to the strong foothold of leading companies, coupled with the economic growth of various countries, the demand for earthmoving equipment is likely to witness a heightened growth in the forecast period.

 

Competitive Landscape

Caterpillar Inc. is a leading manufacturer of construction and mining equipment. The product portfolio of this company also includes diesel and natural gas engines. It was founded in 1925 and is headquartered in Texas, the United States.

 

Komatsu Ltd. is an equipment manufacturing company which manufactures and sells construction, mining equipment, and forest and industrial machinery, among others. The company was established in 1921 and is headquartered in Tokyo, Japan.

 

Xuzhou Construction Machinery Group Co., Ltd. (XCMG) is a state-owned manufacturing company which sells construction equipment such as excavators and loaders. The company was founded in 1989 and is headquartered in Xu Zhou Shi, China.

 

Other market players include Sany Heavy Industry Co., Ltd, Deere & Company, AB Volvo, Liebherr-International Deutschland GmbH, Hitachi Construction Machinery Co., Ltd., and Sandvik AB, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2017-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • Application
  • Region
Breakup by Product Type
  • Excavators
  • Loaders
  • Dump Trucks
  • Others
Breakup by Application
  • Mining
  • Construction
  • Agriculture and Forestry
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Supplier Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • Caterpillar Inc.
  • Komatsu Ltd.
  • Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
  • Sany Heavy Industry Co., Ltd
  • Deere & Company
  • AB Volvo
  • Liebherr-International Deutschland GmbH
  • Hitachi Construction Machinery Co., Ltd.
  • Sandvik AB
  • Others

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Earthmoving Equipment Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Earthmoving Equipment Historical Market (2018-2023) 
    8.3    Global Earthmoving Equipment Market Forecast (2024-2032)
    8.4    Global Earthmoving Equipment Market by Product Type
        8.4.1    Excavators
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Loaders
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Dump Trucks
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Others
    8.5    Global Earthmoving Equipment Market by Application
        8.5.1    Mining
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Construction
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Agriculture and Forestry
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Others
    8.6    Global Earthmoving Equipment Market by Region
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2023)
            8.6.5.2    Forecast Trend (2024-2032)
9    North America Earthmoving Equipment Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Earthmoving Equipment Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Earthmoving Equipment Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Earthmoving Equipment Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Earthmoving Equipment Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price  
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Caterpillar Inc.
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Komatsu Ltd.
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Sany Heavy Industry Co., Ltd
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Deere & Company
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    AB Volvo
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Liebherr-International Deutschland GmbH
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Hitachi Construction Machinery Co., Ltd.
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Sandvik AB
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables


1.    Global Earthmoving Equipment Market: Key Industry Highlights, 2018 and 2032
2.    Global Earthmoving Equipment Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3.    Global Earthmoving Equipment Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4.    Global Earthmoving Equipment Historical Market: Breakup by Application (USD Billion), 2018-2023
5.    Global Earthmoving Equipment Market Forecast: Breakup by Application (USD Billion), 2024-2032
6.    Global Earthmoving Equipment Historical Market: Breakup by Region (USD Billion), 2018-2023
7.    Global Earthmoving Equipment Market Forecast: Breakup by Region (USD Billion), 2024-2032
8.    North America Earthmoving Equipment Historical Market: Breakup by Country (USD Billion), 2018-2023
9.    North America Earthmoving Equipment Market Forecast: Breakup by Country (USD Billion), 2024-2032
10.    Europe Earthmoving Equipment Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    Europe Earthmoving Equipment Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Asia Pacific Earthmoving Equipment Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Asia Pacific Earthmoving Equipment Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Latin America Earthmoving Equipment Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Latin America Earthmoving Equipment Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Middle East and Africa Earthmoving Equipment Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Middle East and Africa Earthmoving Equipment Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Global Earthmoving Equipment Market Structure

Key Questions Answered in the Report

The market reached a value of nearly USD 84.32 billion in 2023.

The market is estimated to grow at a CAGR of 2.7% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 107.16 billion by 2032.

The thriving construction sector across developed and developing countries, the increasing demand for heavy industrial machinery from the agriculture sector, and the growing demand for earthmoving equipment across various end use sectors, including mining, are the major drivers of the market.

The key trends in the market include the rising demand for loaders, surging infrastructure development activities, and increasing investments by heavy industrial machinery manufacturers towards expanding their product portfolio.

Excavators, loaders, and dump trucks, among others, are the different product types considered in the market report.

Mining, construction, and agriculture and forestry, among others, are the major applications of earthmoving equipment.

Caterpillar Inc., Komatsu Ltd., Xuzhou Construction Machinery Group Co., Ltd. (XCMG), Sany Heavy Industry Co., Ltd, Deere & Company, AB Volvo, Liebherr-International Deutschland GmbH, Hitachi Construction Machinery Co., Ltd., and Sandvik AB, among others, are the key earthmoving equipment market players.

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