PUBLISHER: The Business Research Company | PRODUCT CODE: 1932492
PUBLISHER: The Business Research Company | PRODUCT CODE: 1932492
Excavators, crucial construction equipment in the building industry, are utilized for tasks involving earth extraction, movement, and transportation of loose materials like gravel, sand, or soil within construction sites. They efficiently handle activities such as picking and placing, digging, landscaping, demolition, and material handling.
Within the category of excavators, several types prevail, including mini/compact excavators, crawler excavators, wheeled excavators, among others. Mini/compact excavators are smaller, lighter variants weighing between 0.7 and 6 tons. Featuring a shorter swing radius superstructure, these excavators offer advantages in urban or confined settings. Excavators vary in operating weight, classified into weight ranges of up to 50K kg, 51K to 75K kg, and 76K kg and above. They operate through various mechanisms such as electric, hydraulic, and hybrid, with power ratings falling within ranges of 0-300 bhp, 300-500 bhp, and 500 bhp and above.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
Tariffs are significantly affecting the excavator market by increasing costs of imported engines, hydraulic systems, steel structures, electronic control units, and drivetrain components. Construction and mining companies in North America and Europe are most impacted due to reliance on globally sourced components, while Asia-Pacific manufacturers face export-related pricing challenges. These tariffs are raising equipment prices and influencing fleet replacement decisions. However, they are also encouraging local assembly, regional supplier development, and innovation in electric and hybrid excavator platforms.
The excavator market research report is one of a series of new reports from The Business Research Company that provides excavator market statistics, including excavator industry global market size, regional shares, competitors with an excavator market share, detailed excavator market segments, market trends and opportunities, and any further data you may need to thrive in the excavator industry. This excavator market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The excavator market size has grown steadily in recent years. It will grow from $54.63 billion in 2025 to $57.32 billion in 2026 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to expansion of construction and infrastructure projects, growth in mining activities, rising mechanization in earthmoving operations, availability of advanced hydraulic systems, increasing demand for versatile equipment.
The excavator market size is expected to see steady growth in the next few years. It will grow to $69.47 billion in 2030 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to increasing investments in smart construction equipment, rising focus on low-emission machinery, expansion of urban infrastructure development, growing adoption of autonomous equipment technologies, increasing demand for fuel-efficient excavators. Major trends in the forecast period include increasing adoption of electric and hybrid excavators, rising integration of telematics and monitoring systems, growing demand for compact excavators, expansion of heavy-duty mining applications, enhanced operator safety features.
Anticipated growth in global trade is poised to elevate the excavator market. Global trade denotes the exchange of goods, services, and capital across international borders. Excavators are crucial in port development, cargo handling, and infrastructure projects, facilitating efficient goods movement. A report by the United Nations Conference on Trade and Development in September 2023 forecasts a 2.4% rise in maritime trade for 2023, with consistent growth projected from 2024 to 2028. The increased oil and gas trade, rising by 6.0% and 4.6%, respectively, in 2022, further amplifies the demand for excavators.
Leading companies in the excavator market focus on innovative products, including demolition excavators, to cater to diverse customer needs. Demolition excavators are specialized machines designed for structure and building demolition. For instance, Volvo Construction Equipment introduced the EC300E Straight Boom demolition excavator in February 2023. Distinguished by its 23-foot-long straight boom, this crawler excavator offers superior height and reach capabilities compared to conventional models. Safety features, such as a frame-mounted Falling Objects Guard and impact-resistant glass windows, ensure operator protection in challenging demolition environments.
In April 2024, Epiroc AB, a Sweden-based provider of mining and infrastructure equipment, acquired STANLEY Infrastructure for an undisclosed amount. This acquisition is intended to strengthen Epiroc's foothold in the excavator attachments and handheld hydraulic tools market, especially in the U.S. infrastructure and construction sectors. STANLEY Infrastructure is a U.S.-based global manufacturer of high-performance equipment, focusing on attachments for excavators and hydraulic tools.
Major companies operating in the excavator market are Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., Hyundai Heavy Industries Co. Ltd., JCB Limited, Komatsu Limited, Terex Corporation, Volvo Construction Equipment, Liebherr Group, Kobelco Construction Machinery Co. Ltd., Sany Heavy Industries Co. Ltd., Bobcat Company, LiuGong Machinery Corporation, CNH Industrial NV, BEML Limited, Takeuchi Mfg Company Limited, Xuzhou Construction Machinery Group Co. Ltd., Doosan Infracore Co. Ltd., Wacker Neuson SE, Yanmar Holdings Co. Ltd., Bell Equipment Limited, Foton Lovol International Heavy Industry Co. Ltd., Deere & Company, Kato Works Co. Ltd., Kubota Corporation, Mahindra & Mahindra Ltd., Manitou Group, Mitsubishi Heavy Industries Ltd.
Asia-Pacific was the largest region in the excavator market in 2025. The regions covered in the excavator market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the excavator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The excavator market consists of sales of heavy excavators, dragline excavators, and backhoe and suction excavators. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Excavator Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses excavator market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for excavator ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The excavator market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Added Benefits available all on all list-price licence purchases, to be claimed at time of purchase. Customisations within report scope and limited to 20% of content and consultant support time limited to 8 hours.