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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Excavators Market Share
Excavator manufacturers offering products with advanced features and a range of attachments are expected to drive the growth of the excavators industry. OEMs are also increasingly making more advancements in their telematics to gain popularity with equipment owners looking to optimize their machine’s uptime and safety. Further, the market is likely to see a boost due to increased development activity.
In India, Hitachi witnessed increased deployment of ZAXIS X370GI excavators for irrigation and mining of iron ore. ZAXIS 470 continued to be popular in coal excavation, for which the company supplied larger ZAXIS 650 to EX 1900s.
JCB mini excavators are being employed for urban development projects that require compact machines to function in restricted spaces and municipal jobs. The range includes the 3-ton to 6-ton category in models such as 30 plus, 50z, 51R and 55z.
L&T is promoting its Komatsu PC210-10M0 for rough applications like stone, granite, and marble quarrying, and mass earthwork. The machine has robust structures, a more powerful engine, and a bigger hydraulic pump thus boosting the excavators demand growth.
Excavators Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 4.9% between 2024 and 2032.
The major drivers of the market include the government focus on major projects, booming construction industry, growing requirement of robust, effective, and mobile construction equipment over heavy construction equipment, rising advancements in technology, and widespread usage in mining applications.
Increasing number of private and public infrastructure projects and growing economic development activity are the key industry trends propelling the market's growth.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The market is categorised according to the product, wheeled, crawler, and mini/compact, among others.
Based on the application, the market is divided into construction, mining, and others.
The market’s key players are Caterpillar Inc., Komatsu Ltd., Liebherr-International Deutschland GmbH, Volvo Group, and Hitachi Construction Machinery Co., Ltd., among others.
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United States (Head Office)
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124