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Global Excavators Market: By Product: Wheeled, Crawler, Mini/Compact, Others; By Application: Construction, Mining, Others; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; Industry Events and Developments

Global Excavators Market Outlook

The global excavators market is expected to grow at a CAGR of 4.9% during the period 2022-2027. Increasing number of private and public infrastructure projects, growing economic development activity, and government focus on major projects are the factors expected to drive demand, especially in developing nations including India. The need for high productivity and fuel-efficient machines is expected to stimulate market growth. North America, Europe and Asia are expected to be key markets.

 

Global Market Likely to be Driven by Increasing Industrial and Development Activity

Excavators are heavy construction equipment often employed for earthmoving projects. Sectors using excavators include mining, forestry, construction, pipeline industries, etc. These comprise a boom, bucket, arm, and cab on a spinning structure on an undercarriage with wheels or tracks. Excavators are used for digging, lifting and carrying tasks in different applications. By attaching particular tools such as hydraulic breakers, cutters, shears, grapples, couplers, etc. at the end of the various boom and arm formations, excavators become capable of performing a broader range of tasks. Excavators differ in size, according to the job required to be performed, and considerations including productivity, fuel efficiency, and multi-functional purposes. Each size is meant for a specific purpose, some being highly specialized.

Types of excavators include:

Crawler excavators – Also called general-purpose excavators, these comprise a bucket, boom, and arm to the anterior of the machine. Crawlers are available in different sizes, and may be used to dig, demolish structures and surfaces, perform trenching, and lift heavy objects.

Wheeled excavators – General-purpose excavators, the key difference being that these run on wheels instead of tracks. A major advantage of wheeled excavators is that these may be driven from one job site to another by road; crawler excavators that run on tracks usually need to be carried on a trailer for long-distance travel. Thus, wheeled excavators are more convenient and save time and cost.

Short swing radius excavators – A variation of the general-purpose excavator, it offers the same performance with a shorter swing radius superstructure, offering several benefits in urban and confined areas. These are available in both crawler and wheeled types.

Long-reach excavators – These general-purpose excavators have an extended boom and arm offering longer working range for tasks far away from the machine that may be otherwise difficult to reach, for example deep trenching, underwater digging.

Backhoe loaders – Generally used for landscaping and mining. A large bucket or blade (used to level or push surfaces with miles of materials such as soil) is connected to the front of the machine with a boom, arm, and bucket at the back. The boom and arm attached at the back serve the same purpose as a general-purpose excavator, but rotate nearly 205 degrees instead of 360.

The various types of excavator tools include Bucket, Thumb, Augers, Hydraulic Breaker, Shears, Hydraulic Quick Coupler, Ripper, and Tilt-rotator, among others. Excavators come in different sizes, including Compact Excavators- Mini/ Midi Size, and General-purpose Excavators – Large.

 

Offerings by Major Manufacturers Expected to Boost Market Growth

Several manufacturers offer excavators. Many companies manufacture different sizes and models of excavators to cater to projects of all sizes and natures. Poplar brands of excavator manufacturers include:

Caterpillar – also popular as CAT, it is one of the most popular brands of heavy equipment and machinery in the world, and a major heavy equipment manufacturer.  Caterpillar manufactures many kinds of excavators.

Volvo – Volvo is known to push the boundaries of construction equipment manufacturing. In 2019, Volvo CE announced the goal of launching a range of electric compact excavators and wheel loaders by mid-2020. Such solutions are expected to contribute to the growth of the global excavators market. The company offers crawler excavators, wheeled excavators, mini excavators and short swing excavators. The company is most well-known for its wheeled excavators.

Komatsu – Modern excavators from Komatsu feature new engines and hydraulic technology which driving fuel efficiency. The company strives to build their excavators with the best quality material and superior craftsmanship. Komatsu offers a variety of excavators for all types of projects. Mid-range models such as the Komatsu PC170LC-11 offer a 121 hp with 2,100 rpm with an operating weight of up to 43,115 lbs. Komatsu also manufactures the PC240LC-10 Super Long Front, providing a productive and stable equipment base for deep ditch digging or sloping applications.

John Deere & Co – The company manufactures over 20 different kinds of excavators in different sizes, weight, and horsepower. The company’s largest excavator – the 870G LC Excavator enables 31ft in digging depth and a 512 hp. The 75G mid-sized excavator enables a 15ft digging depth, 56.9hp and weighs just under 18,000 lbs.

 

Technically Advanced Features with a Range of Attachments Offered by Manufacturers and Increasing Industrial and Development Activity, Especially in Developing Countries, Expected to Drive Market Growth

Excavator manufacturers offering products with advanced features and a range of attachments are expected to drive the global excavators market. OEMs are also increasingly making more advancements in their telematics to gain popularity with equipment owners looking to optimize their machine’s uptime and safety. Further, the market is likely to see a boost due to increased development activity.

In India, Hitachi witnessed increased deployment of ZAXIS X370GI excavators for irrigation and mining of iron ore. ZAXIS 470 continued to be popular in coal excavation, for which the company supplied larger ZAXIS 650 to EX 1900s.

JCB mini excavators are being employed for urban development projects that require compact machines to function in restricted spaces and municipal jobs. The range includes the 3-ton to 6-ton category in models such as 30 plus, 50z, 51R and 55z.

L&T is promoting its Komatsu PC210-10M0 for rough applications like stone, granite, and marble quarrying, and mass earthwork. The machine has robust structures, a more powerful engine and a bigger hydraulic pump.

 

Market Segmentation

By product, the market is segmented into:

  • Wheeled
  • Crawler
  • Mini/Compact
  • Others

By application, the market is divided into:

  • Construction
  • Mining
  • Others

By region, the market is classified into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Key Industry Players in the Market

The report presents a detailed analysis of the following key players in the global excavators market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Caterpillar Inc.
  • Komatsu Ltd.
  • Liebherr-International Deutschland GmbH
  • Volvo Group
  • Hitachi Construction Machinery Co., Ltd.
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report

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

  • Product
  • Application
  • Region
Breakup by Product
  • Wheeled
  • Crawler
  • Mini/Compact
  • Others
Breakup by Application
  • Construction
  • Mining
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Caterpillar Inc.
  • Komatsu Ltd.
  • Liebherr-International Deutschland GmbH
  • Volvo Group
  • Hitachi Construction Machinery Co., Ltd.
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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    Industry Opportunities and Challenges
8    Global Excavators Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Excavators Historical Market (2017-2021) 
    8.3    Global Excavators Market Forecast (2022-2027)
    8.4    Global Excavators Market by Product
        8.4.1    Wheeled
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Crawler
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
        8.4.3    Mini/Compact
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021)
            8.4.3.3    Forecast Trend (2022-2027)
        8.4.4    Others
    8.5    Global Excavators Market by Application
        8.5.1    Construction
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Mining
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Others
    8.6    Global Excavators Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Caterpillar Inc.
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Komatsu Ltd.
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Liebherr-International Deutschland GmbH
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Volvo Group
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Hitachi Construction Machinery Co., Ltd.
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Others
13    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Excavators Market: Key Industry Highlights, 2017 and 2021
2.    Global Excavators Historical Market: Breakup by Product (USD Million), 2017-2021
3.    Global Excavators Market Forecast: Breakup by Product (USD Million), 2022-2027
4.    Global Excavators Historical Market: Breakup by Application (USD Million), 2017-2021
5.    Global Excavators Market Forecast: Breakup by Application (USD Million), 2022-2027
6.    Global Excavators Historical Market: Breakup by Region (USD Million), 2017-2021
7.    Global Excavators Market Forecast: Breakup by Region (USD Million), 2022-2027
8.    North America Excavators Historical Market: Breakup by Country (USD Million), 2017-2021
9.    North America Excavators Market Forecast: Breakup by Country (USD Million), 2022-2027
10.    Europe Excavators Historical Market: Breakup by Country (USD Million), 2017-2021
11.    Europe Excavators Market Forecast: Breakup by Country (USD Million), 2022-2027
12.    Asia Pacific Excavators Historical Market: Breakup by Country (USD Million), 2017-2021
13.    Asia Pacific Excavators Market Forecast: Breakup by Country (USD Million), 2022-2027
14.    Latin America Excavators Historical Market: Breakup by Country (USD Million), 2017-2021
15.    Latin America Excavators Market Forecast: Breakup by Country (USD Million), 2022-2027
16.    Middle East and Africa Excavators Historical Market: Breakup by Country (USD Million), 2017-2021
17.    Middle East and Africa Excavators Market Forecast: Breakup by Country (USD Million), 2022-2027
18.    Global Excavators Market Structure

Key Questions Answered in the Report

The global excavators market is projected to grow at a CAGR of 4.9% between 2022 and 2027.

The major drivers of the market include the government focus on major projects, booming construction industry, growing requirement of robust, effective, and mobile construction equipment over heavy construction equipment, rising advancements in technology, and widespread usage in mining applications.

Increasing number of private and public infrastructure projects and growing economic development activity are the key industry trends propelling the market's growth.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The various products in the market include wheeled, crawler, and mini/compact, among others.

The significant applications of the market are construction and mining, among others.

The major players in the industry are Caterpillar Inc., Komatsu Ltd., Liebherr-International Deutschland GmbH, Volvo Group, and Hitachi Construction Machinery Co., Ltd., among others.

Analyst Review

The global excavators market was driven by the increasing number of private and public infrastructure projects in the historical period. Aided by the widespread usage in mining applications and growing economic development activity, the market is expected to grow at a CAGR of 4.9% in the forecast period of 2022-2027.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The various products in the market are wheeled, crawler, and mini/compact, among others. The significant applications of the market are construction and mining, among others. The major regional markets for excavators are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The major players in the market are Caterpillar Inc., Komatsu Ltd., Liebherr-International Deutschland GmbH, Volvo Group, and Hitachi Construction Machinery Co., Ltd., among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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