PUBLISHER: Value Market Research | PRODUCT CODE: 1542524
PUBLISHER: Value Market Research | PRODUCT CODE: 1542524
The global demand for Excavators Market is presumed to reach the market size of nearly USD 128.11 Billion by 2032 from USD 74.55 Billion in 2023 with a CAGR of 6.2% under the study period 2024 - 2032.
Excavators are heavy construction equipment that is used for a variety of excavation, demolition, and construction tasks. They consist of a boom, dipper or stick, and a bucket that is attached to a rotating platform called a "house". Excavators are typically powered by hydraulic systems and can be used for digging, trenching, lifting, and demolition work. Excavators come in a range of sizes, from small compact excavators that are used for landscaping and small-scale construction projects to large mining excavators that can weigh over 800 tons and are used for mining operations. Excavators are versatile machines that can be equipped with a variety of attachments, such as breakers, grapples, and augers, that allow them to perform a range of specialized tasks. They are widely used in construction, mining, forestry, and agriculture industries, as well as for infrastructure projects such as road building and bridge construction.
The growth in infrastructure development, including the construction of highways, bridges, and buildings, is a key driver of the excavators market. As more infrastructure projects are planned and developed, the demand for excavators to perform tasks such as excavation, demolition, and construction is increasing. The ongoing trend of urbanization, particularly in emerging economies, is driving demand for excavators. As urban areas expand, there is a need for infrastructure development, which in turn requires excavation and construction work. The demand for minerals and metals for use in construction, automotive, and electronics industry is driving the growth of the mining industry. Excavators are widely used in mining operations for tasks such as digging, hauling, and loading. The development of advanced excavator technologies, such as telematics, automation, and hybrid engines, is driving the market growth. These technologies increase efficiency, reduce fuel consumption, and improve safety. Government initiatives aimed at improving infrastructure and promoting economic development, such as the 'Belt and Road' initiative in China, are driving demand for excavators. Governments are also investing in infrastructure projects, which creates opportunities for the excavators market. The demand for environmentally friendly excavators that produce fewer emissions and have lower noise levels is increasing pushing the manufacturers to respond to this demand by developing hybrid and electric excavators.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of excavators. The growth and trends of excavators industry provide a holistic approach to this study.
This section of the excavators market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Excavators market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Excavators market include Atlas Copco, Caterpillar Inc., CNH Global NV, Doosan, Escorts Group, Hitachi Construction Machinery, Hyundai Heavy Industries Ltd, JC Bamford Excavators Ltd., John Deere, Kobelco, Komatsu Ltd., Liebherr-International AG, Manitou Group, Mitsubishi, Sany Heavy Industries Co Ltd., Sumitomo Heavy Industries Ltd. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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