Excavator Market is expected to grow at a CAGR of 10.52% during the period 2015-2019: Radiant Insights, Inc

About excavators

Excavators are used to unearth, transport, and unload materials with the help of a bucket fitted to a boom. They move on crawlers or wheels. Excavators are versatile heavy construction machines used for below- and above-ground operations, including land leveling, digging trenches, and sinking wells.

The global excavator market witnessed a healthy growth of 10.24% Y-o-Y in 2014, as compared to 10.17% in 2013. The market was driven by increased investment in the construction sector, particularly in APAC. In 2014, APAC accounted for the highest market share of 70.41% of the global excavator market. Countries such as China, India, Indonesia, Singapore, Malaysia, and Philippines have significantly contributed to the growth of the market. Large-scale investments have been planned across these countries for the development of transport infrastructure and construction of new power plants, particularly nuclear. Further, investments in the mining sector, particularly in Latin America, have also contributed to the growth of the market. Owing to the above-mentioned factors, the demand for excavators is expected to grow significantly during the forecast period. According to Technavio, the global excavator market is expected to grow at a CAGR of 10.52% during the period 2014-2019.

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In 2014, the crawler excavator segment dominated the global excavator market with a market share of 78.37%, while the remaining share was accounted for by the mini excavator segment with a share of 21.63%. This trend is likely to continue during the forecast period. Owing to such high demand for excavators, equipment manufacturers are developing new excavators that are fuel-efficient and technologically advanced with features such as display of real time information regarding performance. In addition, the equipment rental business is also growing rapidly in Europe and the US, but the sector is still in the nascent stage in APAC.

The global excavator market to grow at a CAGR of 10.52% over the period 2014-2019.

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Covered in this report

This report covers the present scenario and the growth prospects of the global excavators market for the period 2015-2019. The market size has been calculated based on the total revenue generated from the consumption of excavators. It does not consider the sale of used equipment or revenue generated from contracts and maintenance.

The report also presents a detailed analysis of the geographical segmentation. In addition, the report also presents a detailed analysis on the Key vendors in the market. The report also discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends emerging in the market.

Key vendors

• Caterpillar
• Deere & Company
• Hitachi Construction Machinery
• Komatsu
• Volvo Construction Equipment

Other prominent vendors

• Bharat Earth Movers
• Doosan Heavy Industries & Construction
• Guangxi LiuGong Machinery
• JCB
• Sany Group
• XCMG
• Zoomlion Heavy Industry Science and Technology

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