April 16, 2019 by alok
Hyundai Construction Company., Liebert, Sany Group, CNH Industries, Doosan Bobcat Inc., Volvo Construction Equip., Komatsu, Hitachi Construction Machinery, Deere & Company, Caterpillar, Automotive , Crawler Excavator Market
Market Research Reports Search Engine (MRRSE) has recently updated its massive report catalogue by adding a fresh study titled “Crawler Excavator Market Growth Focusing on Trends & Innovations during the Period until 2026”. This business intelligence study encapsulates vital details about the market current as well as future status during the mentioned forecast period of 2026.The report also targets important facets such as market drivers, challenges, latest trends, and opportunities associated to growth of manufacturers in global market for Crawler Excavator Market. Along with these insights, the report provides the readers crucial insights on the strategies implemented by leading companies to remain in the lead of this competitive market.
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Global demand for crawler excavator is expected to remain influenced by the growth of mining, excavation, and construction sectors. Over the years, usage of crawler excavators has increased to a significant extent in this sectors. This is primarily owing to their superior functionality and efficiency as compared to the conventional systems. Market Research Reports Search Engine (MRRSE) projects that the global crawler excavator market will exhibit a volume CAGR of 2.7% during the assessment period (2017-2026). Crawler excavators are becoming increasingly popular in construction and mining sites. They allow faster and safer removal of debris. With the help of crawler excavator, digging procedures have become much simpler and easier. Moreover, the arrival of more technologically advanced crawler excavators is also driving their adoption across sectors. Some of the latest crawler excavators have a wider application range. Effective use of the equipment also greatly increase reliability and efficiency of construction activities.
Increased automation coupled with rapid adoption of next-gen construction technology is expected to reflect favourably on the global crawler excavators market. Manufacturers are also considering concepts such as driverless and self-managed vehicles. At the same time, emphasis is also being placed on improving speed and payloads capacity to meet the fast-evolving industry requirements. However, the high level of investment cost involved in installation of crawler excavator continues to hamper its adoption in small scale construction or mining activities. Also, the additional cost of maintenance might not make it a viable option for many. Preference for crawler excavation remains low for short-term construction projects as its rental cost can add substantially to the overall cost.
The crawler excavators required periodical servicing for proper functioning, which is usually mandated by regulatory authorities. Most customers prefer to rent crawler excavators as purchasing them usually proves to be a costly affair and unfeasible.
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Asia Pacific excluding Japan (APEJ) is expected to spearhead the global crawler excavator market during the forecast period. Factors such as robust industrialization and urbanization in various APEJ countries have played an important role in creating market opportunities in the region. APEJ’s market is projected to exhibit a volume CAGR of 3.2% between 2017 and 2026.
Short trail crawler excavators continue to gain popularity in various end-use industries. This is primarily owing to their cutting-edge features and high efficiency. Global sales of short trail crawler excavators currently accounts for more than 32% volume share of the market. By the end of assessment period, nearly US$ 76 ‘000 units of short trail crawler excavators are estimated to be sold across the globe.
Preference for crawler excavator with medium (2.00-4.00) capacity is expected to remain high throughout the assessment period. By the end of 2026, close to US$ 93 ‘000 units of medium (2.00-4.00) capacity crawler excavators are expected to be sold globally. In term of volume, global sales of medium (2.00-4.00) capacity crawler excavators currently represent for around 40% market share.
Crawler excavators with operating weight of 22,650-30,200 Kg will continue to find application in sectors such as construction and mining. By 2026-end, nearly US$ 48.2 ‘000 units of crawler excavators with operating weight of 22,650-30,200 Kg are expected to be sold globally.
Some of the leading players functioning in the global crawler excavator market include Caterpillar, Deere & Company, Hitachi Construction Machinery, Komatsu, Volvo Construction Equip., Doosan Bobcat, Inc, CNH Industries, Sany Group, Liebherr, and Hyundai Construction Company.
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