Excavator Market, By Type (Mini, Heavy, Wheeled, and Crawler Type), By Power Range (0-300 HP, 301-500 HP, and 501 & Above HP), By End-user (Infrastructure, Mining, and Waste Management), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) – Trends, Analysis, and Forecast till 2034

Report Code: PMI99119 | Publish Date: April 2024 | No. of Pages: 168

Global Excavator Market By Type Overview

Introduction:

Excavator Market was valued at US$ 47.1 Billion in 2024 and is projected to grow at a CAGR of 11.00% to reach US$ 122.2 Billion by 2034.

Excavators are one of the major sectors of construction equipment industry. These are used extensively in numerous fields ranging from construction of roads, building structures to mining, sewage disposal, and extraction of gold and diamonds. There are various types of excavators present in the industry, based on their size and machinery. An excavator comprises a backhoe called rear actor or back actor, dipper or a stick, digging bucket, and cab on a rotating platform known as a house. The backhoe draws towards itself the bucket attached. The dipper or dipper stick carries the bucket. The digging bucket digs the soils from the ground, while the cab on the rotating platform dumps the soil at the required place.

Global Excavator Market By Type Dynamics

Rising industrialization and urbanization

The major key factor driving growth of the excavator market is fast growing urbanization. In addition, growth in construction expenditure and growing economy are another factor propelling growth of the global market. Some of the noteworthy trends and developments of the global market is growing demand for fuel efficient excavator. Moreover, introduction of new product and usage of high efficiency hydraulic fluids are expected to fuel growth of the global market over the forecast period.

However, high maintaining cost for hydraulic excavators and strict regulatory compliance imposed on producers are the major factor hindering growth of the global market. Nevertheless, increasing investments in the residential construction segment followed by transport infrastructure development is projected to augment the prospects for growth of the global market. This will be resulting in steady global market growth rate and boosting the sales of excavator manufacturers.

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Global Excavator Market By Type Segmentation

Excavator market is segmented based on type, power range, end-user, and region.

On the basis of type, the global market is segmented into mini, heavy, wheeled, and crawler type. The crawler excavator type segment dominates the global market, followed by mini excavator type segment, owing to increasing demand for technologically advanced and fuel-efficient excavators. Based on power range, the target market is bifurcated into 0-300 HP, 301-500 HP, and 501 & above HP. Based on end-user, the target market is categorized into infrastructure, mining, and waste management. The end-user excavator segment has expanded significantly due to increase in constructure and mining segments, and rise in awareness about waste management.

Regional Insights:

Excavator market accounted for US$ 46.54 billion in 2020 and is estimated to be US$ 70.91 billion by 2030 and is anticipated to register a CAGR of 4.3%. On region the excavator market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific dominates the excavator market, owing to growth in infrastructure development and rise in urbanization in China. Growing population in countries such as China and India is expected to boost the construction market over the forecast period. Thus, propel growth of the global market. North America is also a favorable market for excavators. Europe global market is growing significantly, due to large scale use of excavators in developed countries such as Germany, France, and the U.K. Middle east & Africa is projected to augment the global market over the forecast period. The region is a leading market for oil & gas which offers immense opportunities to the global market in Middle East & Africa. Excavators are employed in the mining of oil which increases the demand for excavator market in Middle East & Africa.

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Report Scope:

Attribute

Details

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Billion & CAGR from 2024 – 2034

Market Segmentation

By Type- Mini, Heavy, Wheeled, and Crawler Type

By Power Range– 0-300 HP, 301-500 HP, and 501 & Above HP

By End User– Infrastructure, Mining, and Waste Management  

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the excavator market report based on, type, power range, end-user, and region.

Excavator Market-Segmentation

Excavator Market, By Region:

  • North America
    • Middle East & Africa
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa
    • Latin America
        • Brazil
        • Mexico
        • Rest of Latin America
    • Asia Pacific
        • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Europe
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
      • U.S.
      • Canada

Global Excavator Market By Type Key Players

The key players operating in the excavator market includes Caterpillar Inc., Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Kobelco Construction Equipment, Volvo Construction Equipment, Doosan Corp., Hyundai Motor Company, Sumitomo Corp., John Deere India Private Ltd., Case Construction Equipment, Inc., and Kubota Corp.

Global Excavator Market By Type Company Profile

  •  Caterpillar Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Komatsu Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Hitachi Construction Machinery Co. Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Kobelco Construction Equipment
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Volvo Construction Equipment
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Doosan Corp.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Hyundai Motor Company
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Sumitomo Corp.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • John Deere India Private Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Case Construction Equipment, Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Kubota Corp.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview

Global Excavator Market By Type Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Preview
    • Executive Summary
    • Key Findings—Global Outlook for Excavator Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Type
      • Market Snippet, By Power Range
      • Market Snippet, By End User
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Market Segmentation, By Type 2024 – 2034, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • Mini
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Heavy
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Wheeled
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Crawler Type
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
  1. Market Segmentation, By Power Range 2024 – 2034, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • 0-300 HP
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • 301-500 HP
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • 501 & Above HP
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
  1. Market Segmentation, By End User 2024 – 2034, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Segment Trends
    • Infrastructure
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Mining
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
    • Waste Management
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
  1. Global Market, By Region, 2024 – 2034, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
      • Y-o-Y Growth Analysis (%), 2024 – 2034
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Bn), By Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Power Range, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By End User, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Bn), By Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Power Range, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By End User, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
        • UK
        • France
        • Germany
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Bn), By Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Power Range, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By End User, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Bn), By Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Power Range, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By End User, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Bn), By Type, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Power Range, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By End User, 2024 – 2034
      • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  2. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  3. Company Profiles
  •  Caterpillar Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Komatsu Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Hitachi Construction Machinery Co. Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Kobelco Construction Equipment
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Volvo Construction Equipment
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Doosan Corp.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Hyundai Motor Company
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Sumitomo Corp.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • John Deere India Private Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Case Construction Equipment, Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  • Kubota Corp.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Overview
  1. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

Excavator market is segmented based on type, power range, end-user, and region.

The major key factor driving growth of the excavator market is fast growing urbanization. In addition, growth in construction expenditure and growing economy are another factor propelling growth of the global market.

Europe is expected to lead the market and estimate for about 35% revenue share in 2020. This is mainly attributed due to large number of coronavirus cases in the European region coupled with high volume of swabs tested in Germany.

The key players operating in the excavator market includes Caterpillar Inc., Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Kobelco Construction Equipment, Volvo Construction Equipment, Doosan Corp., Hyundai Motor Company, Sumitomo Corp., John Deere India Private Ltd., Case Construction Equipment, Inc., and Kubota Corp.