San Francisco, Oct 23 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.
Browse full research report on Excavator 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:
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
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East
& Africa
Browse press release of this report
by Grand View Research: 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
No comments:
Post a Comment