Excavator Attachments Market Report

Market Insights

The Global Excavator Attachments Market is expected to grow from USD 4.8 billion in 2020 to USD 6.1 billion by 2026 at a CAGR of over 4.1% during the forecast period.

Figure: Global Excavator Attachments Market Size, 2020-2026 (USD Billion)

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What are Excavator attachments?

Excavator attachments are defined as equipment that is being widely used at construction and mining sites for various applications such as drilling, demolition, compacting, digging, and ripping. These excavators are available in different sizes from mini to large. Excavators are the most commonly used equipment in the construction industry.

Key Players

Key players operating in the global Excavator Attachments Market are-

• Caterpillar Inc. (The US),
• Craig Manufacturing Ltd. (Canada),
• Sandvik AB (Sweden),
• Epiroc Mining India Limited (India),
• Rockland Acquisition Company, LLC (The US),
• Geith International Ltd. (Ireland),
• Doosan Infracore (South Korea),
• Atlas-copco (Sweden),
• Kenco Group (The US),
• Manitou (France),
• ACS Industries (The US),
• AMI Attachments (Canada),
• EVERDIGM (South Korea), and
• Komatsu Ltd. (Japan).

Market Dynamics

The growth of the global excavator attachments market is primarily driven by expanding construction industry with rising in both residential and non-residential construction activities.

• In the construction industry excavators are primarily used for digging holes, trenches, and foundations.
• Increased spending on the renovation of buildings to make energy-efficient and modern buildings is likely to fuel the product demand significantly.
• The growing mining industry with high demand for precious metals is propelling the market growth substantially.
• High demand for more technologically advanced products is likely to create lucrative opportunities for the players operating in the global excavator attachment market.

Segment Analysis

Type Trends

Based on type, the market has been segmented into buckets, grapples, rakes, hammers, augers, and others.

• The buckets segment accounted for more than a 25% share of the global excavator attachments market in 2020.
• Buckets are used for various applications such as digging, grading and ditch cleaning among others.
• Hammers segment is expected to register healthy CAGR during the review period.

Regional Trends

Geographically, the market in Asia-Pacific accounted for the largest market share in 2020 and is expected to continue its dominance during the review period.

• The market growth can be attributed to expanding industrialization and growing urbanization in countries such as China and India. Increased spending by the government construction activities for infrastructural development in the emerging economies is likely to propel the market growth further.
• The market in Europe and Asia-Pacific region is expected to register considerable CAGR during the review period.

COVID-19 Impact on Global Excavator Attachments Market

The spread of coronavirus led to the enforcement of lockdown to curb the spread of the virus. This led to travel restrictions and supply chain disruptions which affected the growth of the excavator attachments market. The cancellation of various construction and mining projects amid the lockdown period hampered the market growth significantly. However, with the lift of lockdown, the growth of the end-use industries is likely to gain momentum and thus, drive the market growth.

Critical Questions Answered in the Report

• What are the key trends in the global excavator attachments market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global excavator attachments market?
• What are the key strategies adopted by the major vendors to lead in the global excavator attachments market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the Excavator Attachments market hopes to have the greatest opportunity to convert-

• Excavator attachments manufacturers
• Excavator attachments suppliers
• Excavator attachments distributors
• Organizations
• Government bodies

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