San Francisco,9 October
2018: The global excavator market size
is anticipated to reach USD 56.46 billion by 2025, according to a new report by
Grand View Research, Inc., exhibiting a CAGR of 4.7% during the forecast
period. Surging demand for excavators among construction equipment operators
for excavating, grading, and site preparation is the key factor bolstering the
growth of the market.
Demand for wheeled
excavators is likely to grow over the forecast period owing to increasing
development of urban infrastructure, roads and highways, and mining sector.
Wheeled excavators are mainly used in urban areas and projects such as smart
cities and megacities are boosting their demand. The wheeled excavators segment
is projected to post a CAGR of 6.5% over the forecast period.
The construction
application segment held the largest share in the excavator market in 2016 and
is poised to cross the mark of USD 35 billion by 2025. Investments by
governments in construction and upgradation of existing infrastructure is one
of the primary growth stimulants for the segment. Excavators are used in
construction for digging trenches, holes and foundations, demolishing
buildings, material handling and lifting, grading, and landscaping. Depending
on size and attachments, their capabilities vary from handling heavy jobs or
smaller jobs.
Access Research Report
of Excavator Market @ www.grandviewresearch.com/industry-analysis/excavators-market
Further key findings from the report suggest:
· Mini/Compact excavators emerged as the
largest segment in 2016 and is estimated to generate revenue over USD 11.43
billion by 2025
· The other excavators segment is expected to
witness moderate growth over the coming years. The segment includes long reach,
dragline, walking, bucket-wheel, suction, and steam excavators
· The excavator market for other applications
such as mining, utility, and agriculture is anticipated to reach USD 21.42
billion by 2025
· The Asia Pacific market is likely to
witness substantial growth over the next decade. The regional market is
projected to progress at a CAGR of 5.1% from 2017 to 2025
· Key players including Caterpillar, Komatsu,
and Liebherr dominated the market, accounting for a sizeable share in the
overall market in 2016.
Browse more reports of this category by Grand View Research
at: www.grandviewresearch.com/industry/hvac-and-construction-technologies
Grand View Research has
segmented the global excavator market on the basis of product, application, and
region:
Excavator Application Outlook (Revenue, USD Billion, 2014
- 2025)
·
Construction
·
Others
Excavator Product Outlook (Revenue, USD Billion, 2014 -
2025)
·
Crawler
·
Wheeled
·
Mini/Compact
·
Others
Excavator Regional Outlook (Revenue, USD Billion, 2014 -
2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
France
o
U.K.
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
Access Press Release of
Excavator Market@ www.grandviewresearch.com/press-release/global-excavator-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
