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PUBLISHER: Polaris Market Research | PRODUCT CODE: 1424115
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1424115
Excavator Market Share, Size, Trends, & Industry Analysis Report By Product Type (Mini, Heavy, Wheeled, Crawler); By Application (Construction, Mining, Waste Management); By Region, Segment Forecasts, 2020 - 2026
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The global Excavator market size is expected to reach USD 69.52 Billion by 2032, according to a new study by Polaris Market Research. The report "Excavator Market Share, Size, Trends, & Industry Analysis Report By Product Type (Mini, Heavy, Wheeled, Crawler); By Application Type; By Region, Segment Forecasts, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Excavators, which are also known as hydraulic excavators, are heavy-duty machines that play an essential role in the construction and mining industry. They are commonly used in residential and commercial construction, sewage disposal, surface and underground mining, and other infrastructure development projects.
Excavators are vital for tasks such as earthmoving, digging, and foundation work, which are necessary for the construction of roads, bridges, airports, and other public facilities. As countries worldwide invest in modernizing and expanding their infrastructure to meet the demands of growing populations and urbanization, the demand for excavators also increases correspondingly. These versatile machines play a pivotal role in the execution of large-scale infrastructure projects, enabling efficient and timely completion.
The growth of the construction industry also directly influences the demand for excavators. Excavators are heavily relied upon for tasks ranging from excavation and grading to site preparation for construction projects, whether residential, commercial, or industrial. However, during economic downturns or recessions, construction activities and infrastructure investments tend to reduce as companies tighten budgets and delay projects. This reduction in demand for excavators can subsequently affect the market growth.
Excavator companies are currently putting a lot of effort into enhancing their product lines. They are integrating advanced technologies such as the Internet of Things (IoT), Machine Learning (ML), and automation into their products. Additionally, major players in the market are exploring opportunities for expansion through mergers, acquisitions, and other strategies to maximize their earnings.
Excavator Market Report Highlights
The demand for wheeled excavators is expected to increase during the forecast period because of their superior mobility on urban construction sites, where quick operations and limited space are significant factors. Their ability to move effortlessly in congested and tight spaces makes them ideal for utility installations, road maintenance, and urban renewal projects.
The construction segment is expected to grow above average due to increased demand for excavators resulting from industrialization.
The focus on infrastructure development in Asia Pacific has significantly contributed to the growth of the Excavator Market. In 2023, the market held a higher revenue share due to the region's consistent investments in upgrading and expanding its infrastructure, such as roads, bridges, and utility projects. As a result, excavators have become essential for tasks such as earthmoving and excavation.
The global key market players include Sumitomo Heavy Industries Ltd, Kobelco, Caterpillar Inc., Terex Corporation, Volvo Construction Equipment AB, Atlas Copco, Hyundai Heavy Industries Ltd, JC Bamford Excavators Ltd., John Deere, Hitachi Construction Machinery, Mitsubishi, Sany Heavy Industries Co Ltd., CNH Global NV, Doosan, Escorts Group, Komatsu Ltd., Liebherr-International AG, Manitou Group, etc.
Polaris Market Research has segmented the Excavator market report based on product type, application type, and region:
Excavator, Product Type Outlook (Revenue - USD Billion, 2019 - 2032)
- Mini
- Heavy
- Wheeled
- Crawler
Excavator, Application Type Outlook (Revenue - USD Billion, 2019 - 2032)
- Construction
- Mining
- Waste Management
Excavator, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Product Code: PM1641
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
- 2.1. Market Highlights
3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Excavator Market Insights
- 4.1. Excavator Market - Industry Snapshot
- 4.2. Excavator Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Infrastructure Development and Construction Industry Drives the Market Growth
- 4.2.1.2. Increased demand for urbanization and land excavation projects.
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High initial costs deter potential buyers and investors.
- 4.2.1. Drivers and Opportunities
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Excavator Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Excavator Market, by Product Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Excavator, by Product Type, 2019-2032 (USD Billion)
- 5.3. Mini
- 5.3.1. Global Excavator Market, by Mini, by Region, 2019-2032 (USD Billion)
- 5.4. Heavy
- 5.4.1. Global Excavator Market, by Heavy, by Region, 2019-2032 (USD Billion)
- 5.5. Wheeled
- 5.5.1. Global Excavator Market, by Wheeled, by Region, 2019-2032 (USD Billion)
- 5.6. Crawler
- 5.6.1. Global Excavator Market, by Crawler, by Region, 2019-2032 (USD Billion)
6. Global Excavator Market, by Application Type
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 6.3. Construction
- 6.3.1. Global Excavator Market, by Construction, by Region, 2019-2032 (USD Billion)
- 6.4. Mining
- 6.4.1. Global Excavator Market, by Mining, by Region, 2019-2032 (USD Billion)
- 6.5. Waste Management
- 6.5.1. Global Excavator Market, by Waste Management, by Region, 2019-2032 (USD Billion)
7. Global Excavator Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. Excavator Market Assessment, By Geography, 2019-2032 (USD Billion)
- 7.3. Excavator Market - North America
- 7.3.1. North America: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.3.2. North America: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.3.3. Excavator Market - U.S.
- 7.3.3.1. U.S.: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.3.3.2. U.S.: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.3.4. Excavator Market - Canada
- 7.3.4.1. Canada: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.3.4.2. Canada: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.4. Excavator Market - Europe
- 7.4.1. Europe: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.4.2. Europe: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.4.3. Excavator Market - UK
- 7.4.3.1. UK: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.4.3.2. UK: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.4.4. Excavator Market - France
- 7.4.4.1. France: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.4.4.2. France: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.4.5. Excavator Market - Germany
- 7.4.5.1. Germany: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.4.5.2. Germany: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.4.6. Excavator Market - Italy
- 7.4.6.1. Italy: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.4.6.2. Italy: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.4.7. Excavator Market - Spain
- 7.4.7.1. Spain: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.4.7.2. Spain: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.4.8. Excavator Market - Netherlands
- 7.4.8.1. Netherlands: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.4.8.2. Netherlands: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.4.9. Excavator Market - Russia
- 7.4.9.1. Russia: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.4.9.2. Russia: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.5. Excavator Market - Asia Pacific
- 7.5.1. Asia Pacific: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.5.2. Asia Pacific: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.5.3. Excavator Market - China
- 7.5.3.1. China: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.5.3.2. China: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.5.4. Excavator Market - India
- 7.5.4.1. India: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.5.4.2. India: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.5.5. Excavator Market - Malaysia
- 7.5.5.1. Malaysia: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.5.5.2. Malaysia: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.5.6. Excavator Market - Japan
- 7.5.6.1. Japan: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.5.6.2. Japan: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.5.7. Excavator Market - Indonesia
- 7.5.7.1. Indonesia: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.5.7.2. Indonesia: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.5.8. Excavator Market - South Korea
- 7.5.8.1. South Korea: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.5.8.2. South Korea: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.6. Excavator Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.6.2. Middle East & Africa: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.6.3. Excavator Market - Saudi Arabia
- 7.6.3.1. Saudi Arabia: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.6.3.2. Saudi Arabia: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.6.4. Excavator Market - UAE
- 7.6.4.1. UAE: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.6.4.2. UAE: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.6.5. Excavator Market - Israel
- 7.6.5.1. Israel: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.6.5.2. Israel: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.6.6. Excavator Market - South Africa
- 7.6.6.1. South Africa: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.6.6.2. South Africa: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.7. Excavator Market - Latin America
- 7.7.1. Latin America: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.7.2. Latin America: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.7.3. Excavator Market - Mexico
- 7.7.3.1. Mexico: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.7.3.2. Mexico: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.7.4. Excavator Market - Brazil
- 7.7.4.1. Brazil: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.7.4.2. Brazil: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- 7.7.5. Excavator Market - Argentina
- 7.7.5.1. Argentina: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- 7.7.5.2. Argentina: Excavator Market, by Product Type, 2019-2032 (USD Billion)
8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
- 9.1. Atlas Copco
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Caterpillar Inc.
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. CNH Global NV
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Doosan
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. Escorts Group
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Hitachi Construction Machinery
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. Hyundai Heavy Industries Ltd
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. JC Bamford Excavators Ltd.
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. John Deere
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Kobelco
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
- 9.11. Komatsu Ltd.
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
- 9.12. Liebherr-International AG
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Product Benchmarking
- 9.12.4. Recent Development
- 9.13. Manitou Group
- 9.13.1. Company Overview
- 9.13.2. Financial Performance
- 9.13.3. Product Benchmarking
- 9.13.4. Recent Development
- 9.14. Mitsubishi
- 9.14.1. Company Overview
- 9.14.2. Financial Performance
- 9.14.3. Product Benchmarking
- 9.14.4. Recent Development
- 9.15. Sany Heavy Industries Co Ltd.
- 9.15.1. Company Overview
- 9.15.2. Financial Performance
- 9.15.3. Product Benchmarking
- 9.15.4. Recent Development
- 9.16. Sumitomo Heavy Industries Ltd
- 9.16.1. Company Overview
- 9.16.2. Financial Performance
- 9.16.3. Product Benchmarking
- 9.16.4. Recent Development
- 9.17. Terex Corporation
- 9.17.1. Company Overview
- 9.17.2. Financial Performance
- 9.17.3. Product Benchmarking
- 9.17.4. Recent Development
- 9.18. Volvo Construction Equipment AB
- 9.18.1. Company Overview
- 9.18.2. Financial Performance
- 9.18.3. Product Benchmarking
- 9.18.4. Recent Development
Product Code: PM1641
List of Tables
- Table 1 Global Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 2 Global Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 3 Excavator Market Assessment, By Geography, 2019-2032 (USD Billion)
- Table 4 North America: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 5 North America: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 6 U.S.: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 7 U.S.: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 8 Canada: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 9 Canada: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 10 Europe: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 11 Europe: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 12 UK: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 13 UK: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 14 France: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 15 France: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 16 Germany: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 17 Germany: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 18 Italy: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 19 Italy: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 20 Spain: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 21 Spain: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 22 Netherlands: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 23 Netherlands: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 24 Russia: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 25 Russia: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 26 Asia Pacific: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 27 Asia Pacific: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 28 China: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 29 China: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 30 India: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 31 India: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 32 Malaysia: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 33 Malaysia: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 34 Japan: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 35 Japan: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 36 Indonesia: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 37 Indonesia: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 38 South Korea: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 39 South Korea: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 40 Middle East & Africa: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 41 Middle East & Africa: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 42 Saudi Arabia: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 43 Saudi Arabia: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 44 UAE: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 45 UAE: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 46 Israel: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 47 Israel: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 48 South Africa: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 49 South Africa: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 50 Latin America: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 51 Latin America: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 52 Mexico: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 53 Mexico: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 54 Brazil: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 55 Brazil: Excavator Market, by Product Type, 2019-2032 (USD Billion)
- Table 56 Argentina: Excavator Market, by Application Type, 2019-2032 (USD Billion)
- Table 57 Argentina: Excavator Market, by Product Type, 2019-2032 (USD Billion)
List of Figures
- Figure 1 Global Excavator Market, 2019-2032 (USD Billion)
- Figure 2 Integrated Ecosystem
- Figure 3 Research Methodology: Top-Down & Bottom-Up Approach
- Figure 4 Market by Geography
- Figure 5 Porter's Five Forces
- Figure 6 Market by Application Type
- Figure 7 Global Excavator Market, by Application Type, 2022 & 2032 (USD Billion)
- Figure 8 Market by Product Type
- Figure 9 Global Excavator Market, by Product Type, 2022 & 2032 (USD Billion)
- Figure 10 Excavator Market Assessment, By Geography, 2019-2032 (USD Billion)
- Figure 11 Strategic Analysis - Excavator Market
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