The report provides detailed information about y-o-y growth of the excavator market in terms of market value (US$ million) and market volume (units).
The Fact.MR study finds that the demand for excavator will improve as the heavy construction equipment industry has been recovering from a major slump. Owing to the positive growth of the construction industry, especially in developing countries, excavator market is expected to witness steadily increasing growth in the future.
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Excavators are commonly used in a wide range of sectors including construction, mining, agriculture, and forestry. However, according to the Fact.MR report, the construction industry is expected to hold the largest volume share – approximately 72% -- by the end of 2019. Manufacturers in the excavator market are focusing on introducing performance features that will suit the requirements of end-users from the construction industry to capitalize on the increasing demand for excavators as a construction equipment.
Emerging Stakeholders and New Entrants will Hold a Sizeable Share in Excavator Market
According to the Fact.MR report, Caterpillar Inc., KUBOTA Corporation, and Doosan Bobcat Inc. are the Tier 1 manufacturers in the excavator market and they collectively account for around 30% revenue share.
Tier 2 and Tier 3 players, including CNH Industrial N.V., Deere & Co., and Sany Group Co. Ltd., continue to grow rapidly to intensify the competitive environment in the excavator market.
Due to the slowdown in the excavator market, a majority of manufacturers are focusing on introducing innovative performance features of excavators to boost sales.
Leading vendors are investing in technology and R&D to capture lucrative sales opportunities in developed countries.
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Key Segments Covered in the Excavator Industry Survey
By Product
By Application
By Region
Competitive Landscape
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Key players in the Excavator Market
Stringent Environmental Regulations Create Challenges for Excavator Manufacturers
Despite steady demand from construction industry, stringent environmental regulation and high quality standards for conventional excavators continue to create manufacturing challenges for market players.
Conventional excavators are subject to guidelines regulating the use and operation of heavy equipment. Manufacturers in the excavator market need to conform to these stringent regulatory requirement, which may add to the production cost, ultimately restricting manufacturers from maintaining competitive prices.
Key Questions Covered in the Excavator Market Outlook Report
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Aug 02, 2022