Excavator Market is estimated to be US$ 71.81 million by 2030 with a CAGR of 4.30% during the forecast period-By PMI

covina, March 21, 2023 (GLOBE NEWSWIRE) -- Excavator Market is estimated to be US$ 71.81 million by 2030 with a CAGR of 4.30% during the forecast period

Excavators are hydraulic machines that work on their own. With the help of a digging bucket at the end of the two-part articulated arm, these devices are utilized for discharge and excavation. Excavators are huge construction equipment that are utilized in a range of market applications such as well sinking, trench digging, and land levelling, among others. Huge investments in infrastructure projects and commercial activities such as mining, which have led to greater use of excavators, are expected to drive the expansion of the excavators market. The increasing degree of execution of rigorous government rules relating to emission control has resulted in the development of environmentally friendly equipment, which is likely to drive market demand throughout the forecast period, which ends in 2028.

Region Analysis:

During the forecast period, which will finish in 2028, the Asian Pacific, as a component of the increasing excavators market size, is expected to see the highest market growth. The APAC region currently dominates the worldwide excavator market, owing to increased infrastructural development and rapid urbanization in developing countries such as China. During the current era, which ends in 2028, the burgeoning construction market in the APAC region is predicted to continue to drive market expansion. Due to a fall in construction expenditure and limited investment in the non-residential building and infrastructure business in Europe, excavator market share is declining.

Key Highlights:

• On November 9, 2021, Akasol, a major battery manufacturer in Germany, announced a framework agreement to sell the AK System OEM PRC battery system to KTEG GmbH (Germany), a leading worldwide construction vehicle manufacturer. Akasol would offer batteries for KTEG excavators, allowing KTEG to equip over one hundred KTEG ZE85 small excavators.

• Caterpillar announced its new technology as an aftermarket option for Cat next-generation compact hydraulic excavators in the 6- to 10-ton class range on November 26, 2021. Cat Grade with Advanced 2D or Cat Grade with 3D are now available for excavators. To maintain grade and avoid overcutting and undercutting, automatics provide simple, single-joystick control over the stick and bucket.

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Key Market Insights from the report:

Global Excavator Market accounted for US$ 46.54 billion in 2020 and is estimated to be US$ 71.81 billion by 2030 and is anticipated to register a CAGR of 4.3%. The global excavator market is segmented based on type, power range, end-user, and region.

• Based on Type, Global Excavator Market is segmented into Mini, Heavy, Wheeled, And Crawler Type.
• Based on Power Range, Global Excavator Market is segmented into 0-300 HP, 301-500 HP, and 501 & above HP.  
• Based on End-User, Global Excavator Market is segmented into Infrastructure, Mining, and Waste Management. 
• By Region, the Global Excavator Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Top Key Players:

• Caterpillar Inc.
• Komatsu Ltd.
• Hitachi Construction Machinery Co. Ltd.
• Kobelco Construction Equipment
• Volvo Construction Equipment
• Doosan Corp.
• Hyundai Motor Company
• Sumitomo Corp.
• John Deere India Private Ltd.
• Case Construction Equipment, Inc.
• Kubota Corp.

Scope of the Reports:

Excavator Market, By Type 2020 – 2030, (US$ Bn)

• • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
    • Y-o-Y Growth Analysis (%), 2020 – 2030
    • Segment Trends
  • Mini
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
  • Heavy
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
  • Wheeled
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
  • Crawler Type
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030

Excavator Market, By Power Range 2020 – 2030, (US$ Bn)

• • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
    • Y-o-Y Growth Analysis (%), 2020 – 2030
    • Segment Trends
  • 0-300 HP
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
  • 301-500 HP
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
  • 501 & Above HP
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030

Excavator Market, By End User 2020 – 2030, (US$ Bn)

• • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
    • Y-o-Y Growth Analysis (%), 2020 – 2030
    • Segment Trends
  • Infrastructure
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
  • Mining
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
  • Waste Management
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030

Excavator Market, By Region, 2020 – 2030, (US$ Bn)

• • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
    • Y-o-Y Growth Analysis (%), 2020 – 2030
    • Regional Trends

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