Hydraulic Excavators Market Growth Analysis | 2022-2027

Market Insights

The hydraulic excavators market is likely to witness a CAGR of 2.5% during the forecast period.

What is a hydraulic excavator?

A hydraulic excavator is a vehicle that is built for digging, uncovering, and demolition. It is a type of heavy construction equipment that is used in commercial and residential buildings, as well as mining and sewage disposal.

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Market Dynamics

The market is expected to grow owing to the increasing demand for transportable and low-cost energy-efficient hydraulic excavators from various sectors such as infrastructure, mining, and waste management. Furthermore, technological innovation and upgradation by manufacturers are expected to propel the demand for hydraulic excavators and fuel the market growth over the forecast period.

Segments' Analysis

By Type

Based on the type, the market is segmented as crawler, mini, and wheeled. The wheeled segment is expected to witness significant growth in the market during the forecast period. The segment's growth is driven by the ease with which wheeled-hydraulic excavators can be transported from one location to another, as well as their weight.

By Application Type

Based on the application type, the market is segmented as infrastructure, mining, and others. The infrastructure application segment is estimated to account for the major share of the market during the forecast period as the purchasing power of people has increased, resulting in increased investments in the building sector. Furthermore, demand for hydraulic excavators is increasing at a rapid rate, owing to growing infrastructure investments in developing nations such as China and India, and this trend is expected to continue in the coming years. The aforementioned factors are likely to drive the demand for hydraulic excavators, hence propelling the growth of the market.

Regional Insights

In terms of regions, Asia-Pacific is estimated to be the leading region in the market during the forecast period. The growth of the region’s market is driven by increasing urbanization and infrastructure-related activities in developing economies such as China and India. Also, North America is expected to have a significant market share in terms of revenue, followed by Europe over the forecast period.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market. 

The market is segmented into the following categories.

By Type

• Crawler
• Mini
• Wheeled

By Application Type

• Infrastructure
• Mining
• Others

By Power Rating Type

• 0-300 HP
• 301-500 HP
• Above 501 HP

By End-User Type

• Contractors
• Rental Providers
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the key players in the market are-

• Hyundai Heavy Industries Co., Ltd.
• Doosan Infracore.
• Sany Heavy Industry Co., Ltd.
• John Deere Shandong Lingong Construction Machinery Co., Ltd.
• Zoomlion Heavy Industry Science and Technology Co., Ltd.
• Kobelco Construction Machinery
• Xuzhou Construction Machinery Group
• Hitachi Construction Machinery
• Komatsu Limited

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation by any one of the types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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