San Francisco, 16 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.
Full Research Report On Excavator Market Analysis:
www.grandviewresearch.com/industry-analysis/excavators-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 Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-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.
For more information: www.grandviewresearch.com/
