Earthmoving Equipment Market size was valued at US$ 80 Bn. in 2020 and the total revenue is expected to grow at 2.01% through 2021 to 2027, reaching nearly US$ 92 Bn.
The research includes 34 nations that are thought to be appealing travel destinations for industry stakeholders. The important players are chosen for benchmarking and profiling based on their probable investment criteria, regional domination, and global reach. Each local, regional, and global actor's contribution to the market as a whole has been taken into account.
Earthmoving Equipment Market Overview:
The research conducted a micro level analysis of each country to determine the total market size by countries and segments. To estimate the size of the local and global markets, a bottom-up method is applied. A micro-level analysis of each country can be used to determine how much the unorganised market contributes to the size of the larger market. The Earthmoving Equipment market dictates the extensive analysis carried out by the company organisation to comprehend the Earthmoving Equipment market's drivers, restraints, and opportunities. The results are then verified through conversations with significant local business leaders. In the secondary investigation and analysis of the same, both premium and free data bases are utilised. The production and consumption information for each player is gathered from public databases, private databases, and, in the case of publicly traded enterprises, the financial reports of the company. If financial documents are not made available to the public, they may be requested from the local government's tax division.
Earthmoving Equipment Market Dynamics:
With MMR Research, a targeted and helpful research methodology, one can evaluate the major market dynamics by both developed and developing regions of the world. MMR professionals also carry out in-depth analyses of geographical locations in order to assist clients and businesses in flourishing in specialised industries and expanding in developing global markets. This market research report also emphasises the constantly shifting Player landscape that affects the industry's growth.
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Earthmoving Equipment Market Segmentation:
By Product, the Earthmoving Equipment market segment is dominated by an excavator in 2020 with total revenue of 48.36 billion with a CAGR of 4.7% and expected to reach 66.70 billion by holding the largest share in the earthmoving equipment segment. Excavators are largely used in heavy construction sites due to their multipurpose functionality and have different product types such as a crawler, wheeled, and short swing radius excavator. In 2020, Sany Heavy Industry limited beats big companies like JCB and Caterpillar by selling 98,705 units globally with a total 15% market share. Pile drivers, Compactor, and Trenchers are the other type of Earthmoving equipment market segment that has limited functionality with lesser market share.
Earthmoving Equipment Market Key players:
• Volvo CE
• Caterpillar Inc.
• Komatsu Limited
• Doosan Co.
• Hitachi Construction Machinery Co.
• Liebherr Group
• JCB
• Hyundai Construction Equipment Co. Ltd.
• Sany Heavy Industry Limited
• Terex Corporation
• CNH Heavy Industries Co. Ltd.
• Deere and Company
• Kobelco Construction Machinery Co. Ltd.
• Mitsubishi Heavy Industries Ltd.
• Zoomlion Heavy Industry Science & Technology Co. Ltd.
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Regional Analysis:
The Earthmoving Equipment market is divided into five primary geographic regions, including North America, Europe, Asia Pacific, the Middle East, Africa, and South America.
Research methodology:
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Nov 25, 2022