Global Hydraulic Excavator Market, By Type (Crawler, Mini, Wheeled), Power Rating (0-300 HP, 301-500 HP, Above 501 HP), End-User (Contractors, Rental providers, Others) - Industry Trends and Forecast to 2030.
Hydraulic Excavator Market Analysis and Size
Rising awareness towards global warming and climate change is increasing demand for the green building which is driving the growth of the market. Growing urbanization and infrastructural activities in many regions are driving the growth of the global hydraulic excavator market. The increasing number of large scale mining-related projects; road and port construction is also boosting the market. The increased demand for oil and gas construction sectors has also expected to grow the market. Growing popularity for hybrid hydraulic excavator vehicles will propel the growth.
Global hydraulic excavator market was valued at USD 70,650.22 million in 2022 and is expected to reach USD 88,711.23 million by 2030, registering a CAGR of 2.8% during the forecast period of 2023-2030. “Crawler” accounts for the largest service segment in the respective market owing to the high preference due to the subject-matter expertise offered by vendors. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Hydraulic Excavator Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023-2030
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Base Year
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2021
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Historic Years
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2020 ((Customizable to 2015- 2020)
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Quantitative Units
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Revenue in USD million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Crawler, Mini, Wheeled), Power Rating (0-300 HP, 301-500 HP, Above 501 HP), End- User (Contractors, Rental providers, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa
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Market Players Covered
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Caterpillar (U.S.), Hitachi Construction Machinery Co., Ltd. (U.S.),, Komatsu India Pvt. Ltd(U.S.),., AB Volvo(U.S.),, JCB(U.S.),, Tata Hitachi Construction Machinery(U.S.),, Telcon Ltd, UTD Motor(U.S.),, Sumitomo Heavy Industries, Ltd(U.S.), SANY GROUP(U.S.),, SCHWING Stetter (INDIA) Pvt. Ltd.
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Market Opportunities
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Market Definition
The hydraulic excavator is a type of vehicle that is specifically designed for digging, unearthing, and destruction purposes. It is the heavy construction equipment and used for commercial and residential construction, mining, and sewage disposal. Hydraulic excavators help the workers and users in automating the destruction and construction process to decrease workloads and increase work productivity.
Global Hydraulic Excavator Market Dynamics
Drivers
- Growing Urbanization and Infrastructural Activities in Many Regions
Growing urbanization and infrastructural activities in many regions are driving the growth of the global hydraulic excavator market. The increasing number of large scale mining-related projects; road and port construction is also boosting the market. The increased demand for oil and gas construction sectors has also expected to grow the market. Growing popularity for hybrid hydraulic excavator vehicles will propel the growth.
- Advancement in Technologies
The increase in the advancement in technologies such as artificial intelligence (AI) and the internet of things (IoT) accelerate the market growth. The ability of IoT- enables wireless fire detection systems prevents fire accidents and injuries.
Opportunities
- Rising Awareness Towards Global Warming and Climate Change
Excavator equipped with technology are more effective than conventional machinery because they save time and inform service centers in the event of a malfunction or other operational issues. Equipment producers are creating environmentally friendly equipment as a result of strict emission control regulations. The main responsibility of manufacturers is to provide technologically sophisticated, efficient equipment that complies with regulations and meets consumer expectations
Restraints/Challenges
- High Cost Associated with Installation and Maintenance
On the other hand, high cost associated with the production of volumetric video, and less effective projection under sunlight are expected to obstruct the market growth
This global hydraulic excavator market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on global hydraulic excavator market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In August 2018, Napco Security has announced the launch of Napco FireLink 8-32 Zone FACP with Built-in LTE Cellular Communicator which would help in connecting the fire alarm systems. It would be beneficial for the company as the product is custom programmable &/or expandable up to 32 points using any combination of conventional, addressable and wireless devices and is NFPA 72/UL certified which would give assurance of the quality to the customers
Global Hydraulic Excavator Market Scope
Global hydraulic excavator market is segmented on the type, power rating, and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Type
- Crawler
- Mini
- Wheeled
Power Rating
- 0-300 HP
- 301-500 HP
- Above 501 HP
End-User
- Contractors
- Rental providers
- Others
Global Hydraulic Excavator Market Region Analysis/Insights
Global hydraulic excavator market is segmented on the type, power rating, and end-user as referenced above.
The countries covered in the global hydraulic excavator market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific is expected to dominate the market as the region is capturing the largest market share of the global hydraulic excavator market due to the increase in urbanization and infrastructure-related activities in developing countries such as China and India expected to grow with a steady growth rate in the coming years.
North America is the fastest growing region as the market is also steady due to a rising in housing activities across the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Hydraulic Excavator Market Share Analysis
The global hydraulic excavator market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global hydraulic excavator market.
Some of the major players operating in global hydraulic excavator market are
- Caterpillar (U.S.)
- Hitachi Construction Machinery Co., Ltd. (U.S.)
- Komatsu India Pvt. Ltd (U.S.)
- AB Volvo (U.S.)
- JCB (U.S.)
- Tata Hitachi Construction Machinery (U.S.)
- Telcon Ltd, UTD Motor (U.S.)
- Sumitomo Heavy Industries, Ltd (U.S.)
- SANY GROUP (U.S.)
- SCHWING Stetter Pvt. Ltd. (INDIA)
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