The report on the hydraulic excavator market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis. This study identifies the increasing requirement for large-scale project management as one of the prime reasons driving the hydraulic excavator market growth during the next few years. Organizations are focusing on cultivating and managing the resources necessary for efficient product outputs, which increases the requirements for efficient solutions for large-scale construction project management.
The main benefits of employing hydraulic excavators in large-scale project management are process management, projecting profitability, and automation. In addition, the growing construction of green buildings is another factor supporting the hydraulic excavator market growth. However, stringent emission regulations for construction machinery is hindering the hydraulic excavator market growth. Environment-governing bodies across the world have set strict emission norms for factories, vehicles, production facilities, waste management, machinery, and equipment. Subsequently, the rise in costs will also have an impact on the cost incurred by buyers. This will challenge the growth of the global hydraulic excavator market during the forecast period.
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Technavio analyzes the market by Technology (Crawler excavators, Mini excavators, and Wheeled excavators), Application (Construction, Mining, and Utilities), and Geography (APAC, Europe, North America, South America, and MEA). The crawler excavators technology segment held the largest hydraulic excavator market share in 2020. The segment will continue to retain its market dominance during the forecast period mainly due to its variety of uses. Companies across the globe are launching customized crawler excavator configurations, in turn, boosting the market’s growth during the forecast period.
The construction application segment was the highest revenue-contributing segment of the hydraulic excavator market in 2020. The construction of skyscrapers and the development of massive infrastructure projects are aided by these machines. The construction industry’s expansion will have a direct impact on the worldwide hydraulic excavator market. In terms of Geography, APAC was the largest revenue-generating regional segment of this market in 2020. APAC will generate growth across all the years of the forecast period between 2020 and 2025. The year-on-year growth during this period will vary between 2.93% and 3.65%. The expanding number of construction projects such as roads, dams, and airports is driving the growth of the hydraulic excavator market in APAC. Several major construction machinery manufacturers are expanding their presence in APAC due to the region’s growth possibilities.
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The hydraulic excavator market covers the following areas:
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
Hydraulic Excavator Market Sizing
Hydraulic Excavator Market Forecast
Hydraulic Excavator Market Analysis
Vendor Highlights
The hydraulic excavator market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. The manufacturers of hydraulic excavators are emphasizing producing equipment that is suitable for the customers’ local environmental conditions. The competition in the market is projected to intensify as many companies are investing in emerging economies in anticipation of future growth prospects. Increased investments in infrastructure development worldwide and the rise in tourism are driving the construction industry. This, in turn, is expected to trigger the demand for construction equipment, including hydraulic excavators.
Companies Mentioned
- Alamo Group Inc.
- BEML Ltd.
- Caterpillar Inc.
- Hitachi Ltd.
- J C Bamford Excavators Ltd.
- KATO WORKS CO. LTD.
- Komatsu Ltd.
- SANY Group
- Takeuchi Mfg. Co. Ltd.
- Terex Corp.
Speak to our Analysts for Customized Reports on Extensive Vendor Insights and their Strategic Moves.
Related Reports:
Excavator Market in Japan by Type and Application – Forecast and Analysis 2023-2025
Mini Excavators Market by End-User and Geography – Forecast and Analysis 2023-2025
Crawler Excavators Market by Application and Geography – Forecast and Analysis 2023-2025
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Hydraulic Excavator Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.82% |
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Market growth 2023-2025 |
$ 5.58 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
2.50 |
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Regional analysis |
APAC, Europe, North America, South America, and MEA |
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Performing market contribution |
APAC at 58% |
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Key consumer countries |
China, US, India, Germany, France, and Canada |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Alamo Group Inc., BEML Ltd., Caterpillar Inc., Hitachi Ltd., J C Bamford Excavators Ltd., KATO WORKS CO. LTD., Komatsu Ltd., SANY Group, Takeuchi Mfg. Co. Ltd., and Terex Corp. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Construction – Market size and forecast 2020-2025
- Mining – Market size and forecast 2020-2025
- Utilities – Market size and forecast 2020-2025
- Market opportunity by Application
Market Segmentation by Technology
- Market segments
- Comparison by Technology
- Crawler excavators – Market size and forecast 2020-2025
- Mini excavators – Market size and forecast 2020-2025
- Wheeled excavators – Market size and forecast 2020-2025
- Market opportunity by Technology
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2020-2025
- Europe – Market size and forecast 2020-2025
- North America – Market size and forecast 2020-2025
- South America – Market size and forecast 2020-2025
- MEA – Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Alamo Group Inc.
- BEML Ltd.
- Caterpillar Inc.
- Hitachi Ltd.
- J C Bamford Excavators Ltd.
- KATO WORKS CO. LTD.
- Komatsu Ltd.
- SANY Group
- Takeuchi Mfg. Co. Ltd.
- Terex Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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