Dublin, June 25, 2024 (GLOBE NEWSWIRE) -- The "U.S. Excavator Market Size, Share & Trends Analysis Report by Vehicle Weight (<10, 11 to 45, 46>), Engine Capacity (Up to 250 HP), Type (Wheel, Crawler), Drive Type (Electric, ICE), and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. excavator market size is anticipated to reach USD 13.86 billion by 2030, expanding at a CAGR of 3.2% from 2024 to 2030
The demand for excavators is likely to rise due to several factors, such as urbanization, residential and commercial construction, and government investment in infrastructure projects.
Technological innovations in excavators, such as improved fuel efficiency, automation, and enhanced operational capabilities, have made these machines more appealing to a broader range of industries. The ongoing urbanization trend has increased demand for buildings, which drives the need for construction equipment. The widespread use of excavators across these sectors underscores their importance to the U.S. economy and infrastructure.
Increasing emphasis on environmentally friendly construction practices, driving the demand for electric and hybrid excavators. These models are expected to gain a larger market share as companies seek to reduce their carbon footprint in the coming years. Moreover, with a massive development in the infrastructure and construction industry, excavators are characterized by a wide range of applications across various sectors. Excavators are known for their versatility and efficiency in construction and infrastructure, mining, landscaping and agriculture, forestry, disaster relief and cleanup, and utility work.
U.S. Excavator Market Report Highlights
- Based on vehicle weight, the more than 46 metric tons segment accounted for the largest revenue share of 38.3% in 2023 and is expected to continue to rise over the forecast period. It is attributed to its ability to operate in large-scale construction sites and heavy-duty infrastructure projects
- Based on engine capacity, the up to 250 HP segment dominated the market in 2023 and is expected to grow at a significant CAGR over the forecast period. This is attributed to the increasing number of residential and commercial construction projects
- Based on type, the crawler excavators segment accounted for the maximum revenue share in 2023. The ability to move and perform tasks with high precision makes crawler excavators of significant use
- Based on drive type, the ICE segment accounted for the largest revenue share in 2023. Growing demand for heavy-duty excavators in mining and heavy construction projects is driving the market growth of this segment
- In December 2022, Caterpillar Inc. launched a powerful excavator that offers more power, stability, and efficiency for earthmoving operations. The 347 HP excavator comprises Smart, Power, and Eco features. These features allow users to adjust engine power according to digging conditions, maximum power use, and fuel-saving
Company Profiles
- AB Volvo
- Caterpillar Inc.
- CNH Industrial America LLC
- Deere & Company
- Doosan Bobcat
- Hyundai Construction Equipment: America, Inc.
- J C Bamford Excavators Ltd.
- Kobelco Construction Machinery U.S.A. Inc.
- Komatsu Ltd.
- Mitsubishi Heavy Industries Ltd.
- Sany America
- Terex Corporation
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. U.S. Excavator Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related Market Outlook
3.2. Industry Value Chain Analysis
3.2.1. Distribution Channel Analysis
3.2.2. Raw Material Trends
3.2.3. Technological Overview
3.3. Regulatory Framework
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Industry Analysis Tools
3.5.1. Porter's Five Forces Analysis
3.5.2. Macro-environmental Analysis
Chapter 4. U.S. Excavator Market: Vehicle Weight Estimates & Trend Analysis
4.1. Vehicle Weight Analysis & Market Share, 2023 & 2030
4.2. U.S. Excavator Market Estimates & Forecast, by Vehicle Weight, 2018 to 2030 (Units, USD Million)
4.3. < 10
4.4. 11 to 45
4.5. 46>
Chapter 5. U.S. Excavator Market: Engine Capacity Estimates & Trend Analysis
5.1. Engine Capacity Analysis & Market Share, 2023 & 2030
5.2. U.S. Excavator Market Estimates & Forecast, by Engine Capacity, 2018 to 2030 (Units, USD Million)
5.3. Up to 250 HP
5.4. 250-500 HP
5.5. More Than 500 HP
Chapter 6. U.S. Excavator Market: Type Estimates & Trend Analysis
6.1. Type Analysis & Market Share, 2023 & 2030
6.2. U.S. Excavator Market Estimates & Forecast, by Type, 2018 to 2030 (Units, USD Million)
6.3. Wheel
6.4. Crawler
Chapter 7. U.S. Excavator Market: Drive Type Estimates & Trend Analysis
7.1. Drive Type Analysis & Market Share, 2023 & 2030
7.2. U.S. Excavator Market Estimates & Forecast, by Drive Type, 2018 to 2030 (Units, USD Million)
7.3. Electric
7.4. ICE
Chapter 8. U.S. Excavator Market - Competitive Landscape
8.1. Recent Developments & Impact Analysis, by Key Market Participants
8.2. Company Categorization
8.3. Company Heat Map/Position Analysis, 2023
8.4. Strategy Mapping
8.4.1. Expansion
8.4.2. Mergers & Acquisition
8.4.3. Partnerships & Collaborations
8.4.4. New Product Launches
8.4.5. Research and Development
For more information about this report visit https://www.researchandmarkets.com/r/uty2ed
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