{"product_id":"excavator-market-global-industry-trends-share-size-growth-opportunity-and-forecast-2023-2028","title":"Excavator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028","description":"\u003cp\u003eExcavator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028\u003cbr\u003e\nMarket Overview:\u003c\/p\u003e\n\n\u003cp\u003eThe global excavator market size reached US$ 80.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 177.7 Billion by 2028, exhibiting a growth rate (CAGR) of 14% during 2023-2028.\u003c\/p\u003e\n\n\u003cp\u003eAn excavator refers to a kind of heavy construction equipment that is used for digging excavations and trenching purposes. It is also used for digging holes, foundations, demolitions, dredging rivers, material handling and lifting heavy objects. It uses hydraulic motors powered by an electric, diesel or petrol engine to generate hydraulic force and control the mechanical arm of the machine. The machine consists of a rear\/back actor, sipper, undercarriage, digging bucket and a cabin on a rotating platform. In comparison to the traditionally used machines, modern excavators are designed to keep the counterweights inside the track width during swinging, thereby keeping the movement safe and enhancing the maneuverability.\u003c\/p\u003e\n\n\u003cp\u003eSignificant growth in the construction industry is one of the key factors creating a positive outlook for the market. Excavators are mostly used in large-scale residential and commercial construction, development of roads and ports and mining projects across the globe. Furthermore, the widespread adoption of automated excavators is also driving the market growth. These excavators aid in minimizing labor costs and facilitate remote tracking of operations. Additionally, various product innovations, such as the utilization of fuel cell-based electric motors to power excavators, are acting as other growth-inducing factors. In comparison to a diesel engine, fuel cells are lighter and more efficient, thereby increasing the cabin space for the operator and improving the overall productivity of the machine. Other factors, including the advent of equipment rental services, along with extensive infrastructural development undertaken by the governments of various nations, are expected to drive the market further.\u003c\/p\u003e\n\n\u003cp\u003eKey Market Segmentation:\u003cbr\u003e\nIMARC Group provides an analysis of the key trends in each sub-segment of the global excavator market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, mechanism type, power range and application.\u003c\/p\u003e\n\n\u003cp\u003eBreakup by Product:\u003c\/p\u003e\n\n\u003cp\u003eMini\/Compact\u003cbr\u003e\nCrawler\u003cbr\u003e\nWheeled\u003cbr\u003e\nHeavy\u003cbr\u003e\n \u003cbr\u003e\nBreakup by Mechanism Type:\u003c\/p\u003e\n\n\u003cp\u003eElectric\u003cbr\u003e\nHydraulic\u003cbr\u003e\nHybrid\u003cbr\u003e\n \u003cbr\u003e\nBreakup by Power Range:\u003c\/p\u003e\n\n\u003cp\u003eUpto 300 HP\u003cbr\u003e\n301-500 HP\u003cbr\u003e\n501 HP and Above\u003cbr\u003e\n \u003cbr\u003e\nBreakup by Application:\u003c\/p\u003e\n\n\u003cp\u003eMining\u003cbr\u003e\nConstruction\u003cbr\u003e\nWaste Management\u003cbr\u003e\nOthers\u003cbr\u003e\n \u003cbr\u003e\nBreakup by Region:\u003c\/p\u003e\n\n\u003cp\u003eNorth America\u003cbr\u003e\nUnited States\u003cbr\u003e\nCanada\u003cbr\u003e\nAsia Pacific\u003cbr\u003e\nChina\u003cbr\u003e\nJapan\u003cbr\u003e\nIndia\u003cbr\u003e\nSouth Korea\u003cbr\u003e\nAustralia\u003cbr\u003e\nIndonesia\u003cbr\u003e\nOthers\u003cbr\u003e\nEurope\u003cbr\u003e\nGermany\u003cbr\u003e\nFrance\u003cbr\u003e\nUnited Kingdom\u003cbr\u003e\nItaly\u003cbr\u003e\nSpain\u003cbr\u003e\nRussia\u003cbr\u003e\nOthers\u003cbr\u003e\nLatin America\u003cbr\u003e\nBrazil\u003cbr\u003e\nMexico\u003cbr\u003e\nOthers\u003cbr\u003e\nMiddle East and Africa\u003cbr\u003e\n \u003cbr\u003e\nCompetitive Landscape:\u003cbr\u003e\nThe report has also analysed the competitive landscape of the market with some of the key players being Caterpillar Inc., CNH Industrial N.V., Doosan Corporation, Hitachi Construction Machinery Co. Ltd., Hyundai Heavy Industries Ltd., John Deere, Joseph Cyril Bamford Excavators Ltd., Kobelco Construction Machinery Co. Ltd., Komatsu Ltd., Liebherr Group, Sany Heavy Industries Co. Ltd., Terex Corporation, Yanmar Construction Equipment Co. Ltd. and Volvo Construction Equipment AB.\u003c\/p\u003e\n\n\u003cp\u003eKey Questions Answered in This Report:\u003cbr\u003e\nHow has the global excavator market performed so far and how will it perform in the coming years?\u003cbr\u003e\nWhat has been the impact of COVID-19 on the global excavator market?\u003cbr\u003e\nWhat are the key regional markets?\u003cbr\u003e\nWhat is the breakup of the market based on the product?\u003cbr\u003e\nWhat is the breakup of the market based on the mechanism type?\u003cbr\u003e\nWhat is the breakup of the market based on the power range?\u003cbr\u003e\nWhat is the breakup of the market based on the application?\u003cbr\u003e\nWhat are the various stages in the value chain of the industry?\u003cbr\u003e\nWhat are the key driving factors and challenges in the industry?\u003cbr\u003e\nWhat is the structure of the global excavator market and who are the key players?\u003cbr\u003e\nWhat is the degree of competition in the industry?\u003c\/p\u003e","brand":"Heavy Industry","offers":[{"title":"October, 2023 \/ 146 Pages \/ MCW16215200","offer_id":47617400242482,"sku":null,"price":2999.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/excavator-market-global-industry-trends-share-size-growth-opportunity-and-forecast-2023-2028","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}