Nov 26, 2020, 11:30 ET
DUBLIN, Nov. 26, 2020 /PRNewswire/ -- The "Global Excavator Market Overview, 20220-2025" report has been added to ResearchAndMarkets.com's offering.
The global excavator market is expected to increase with more than 5% CAGR over the forecasted period with a gradual year on year growth.
The need for abrupt & flawless constructions have across the globe, propelled the demand in the excavator market. Along with this, the stellar need for movable types of equipment within the construction industry has given a boost to the market. The growth of the construction industry is driven by the development of large-scale infrastructure projects, transportation development facilities.
The increasing government expenditure over developing the public infrastructure and the individual living lifestyle, which have given rise to the demand for more housing units, is seen as the market drivers for the excavators globally. The introduction of new emission standards and the development of better fuel-efficient methods are to support the growth in the forecasted period.
The excavator industry is cost-sensitive, which has pushed the leading manufacturers to fund their R&D towards delivering efficient performance and unique features to attract more customers. The Asia Pacific region shows the increasing trend in the market share, owing to the availability of labour at cheaper rates and the need for improvising the infrastructure quality in the major developing countries. The Latin American region holds the least share globally.
The factors behind this lag are the fluctuation in fuel rates and the weak economical conditions. The North American region is likely to lose a part of its share by 2025 and reach below 17%. The market share of the Middle East & Africa regions does not show much fluctuation with a slight increase, expected to cover more than 13% by 2025.
Even though the market shows an overall growth, the industry is full of hindrance that hampers growth, leading manufacturers, and the end-users have made possible alternatives to overcome the same. The major issue being the high initial cost required for the purchase of this heavy machinery. Crushing this hurdle, many contracting firms have started opting for renting the excavators rather than owning one.
It not only helps them save on the initial expenses but save the other indirect outlay. Apart from this, vital issues such as lack of skilled labours, various environmental regulations imposed by the government, timely unavailability of components, are still faced by the manufacturers.
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the construction machinery and excavator industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
Key Topics Covered:
1. Executive Summary
2. Report Methodology
3. Global Excavator Market Outlook
3.1. Market Size By Value
3.2. Market Share
3.2.1. By Application
3.2.2. By Machinery type
3.2.3. By Region
3.2.4. By Country
3.2.5. By Company
4. North America Excavator Market Outlook
5. Europe Excavator Market Outlook
6. Asia Pacific Excavator Market Outlook
7. Latin America Excavator Market Outlook
8. Middle east & Africa Excavator Market Outlook
9. Global Excavator Market Dynamics
9.1 Key Drivers
9.2 Key Challenges
10. Market Trends & Developments
11. Competitive Landscape
12. Company Profiles
12.1 Caterpillar Private Limited
12.2 CNH Industrial
12.3 Doosan Infracore
12.4 Epiroc Construction Machinery Co. Ltd
12.5 Hitachi Construction Machinery Co. Ltd
12.6 J C Bamford Excavators Ltd
12.7 John Deere Ltd
12.8 Kobe Steel Ltd
12.9 Komatsu Ltd.
12.10 Kubota Corporation
12.11 Liebherr Group
12.12 Metso Corporation
12.13 Sandvik Mining And Rock Technology
12.14 Sany Group
12.15 Terex Corporation
12.16 Volvo Construction Equipments
12.17 XCMG Ltd.
12.18 Zoomlion Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/1uiyfi
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