October 16, 2019 by Amanpreet
The global excavator market has been propelled with steady growth across the construction industry. To be precise, it has been analyzed that progress across developing countries will pick up drastic pace in the near future. Fact.MR has recently published a new research study focusing on the global excavator market that is likely to experience prudent CAGR growth exceeding 3.2% until 2026. This assessment is titled “Excavator Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2017 to 2026”, which diligently highlights several market factors such as value chain, cost structure, market dynamics, Y-o-Y growth, market size (US$ Mn & Volume), Porter’s analysis and a lot more. Furthermore, readers are also served with knowledge associated to leading players and their contributions to the global market for excavators.
Rigorous Emission Regulations and Safety Standards Likely to Motivate Product Innovation
At present, majority of excavators deployed in various industrial sectors make use of diesel as fuel. With a purpose to curb air pollution caused due to heavy equipment comprising ignition engines, such as excavators, different governing bodies have integrated stringent emission regulations. These guidelines are necessary to be followed by all players active in the excavator market.
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Interestingly, the U.S. Environmental Protection Agency (EPA) has formulated Tier 4 emission standards, certification requirements, along with other compliance provisions aimed at manufacturers functioning in the excavator market. Moreover, non-road mobile machinery emission regulations formulated by the European Commission and the Regulation (EU) 2016/1628 involve manufacturers to amend their manufacturing strategies that might add to the overall manufacturing costs.
Almost 70% Volume Share Controlled by Construction Industry
The usefulness of excavators is primarily concentrated towards construction, agriculture, mining and forestry. Based on this Fact.MR report, the construction industry is likely to acquire the largest volume share, close to 72% by the end of 2019. Furthermore, manufacturers active in the global excavators market are working to introduce performance features which would conveniently match with end-user requirements from the construction industry.
Preview Analysis of Global Excavator Market research report categorizes the global market by Product Type (Compact Excavator, Crawler Excavator, Dragline Excavator, Long Reach Excavator, Suction Excavator), By Size Class (Mini or Compact (<13,227 lbs), Medium (13,227 – 22,046 lbs), Standard/Full-Size (22,046 – 198,416 lbs), Heavy Excavator (>198,416 lbs)), By Mechanism Type (Electric, Hydraulic, Hybrid), By End use vertical (Construction, Mining, Forestry & Agriculture, Others), & By Region –
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Lucrative Opportunities Delivered by Emerging Nations to Bolster Market Growth
With a deeper analysis of the geographical stretch active across the global excavator market, Asia Pacific is seen as the hub for two of the fastest growing markets in the world. In addition, many small economies across the region are escalating their outmoded network of roads and highways, thereby, creating substantial demand for heavy construction equipment. The Fact.MR study mentions that the APEJ region acquired more than 47% volume share in the excavator market in 2018. It is further projected that the target region would continue to present lucrative sales opportunities for active market players during the forecast period.
As the report comes to a shutdown, readers are served with information directed at the competition scenario prevailing across the global excavators market. Some of the leading players mentioned in the report are Caterpillar Inc., Deere & Co., KUBOTA Corporation, Hitachi, Ltd., CNH Industrial N.V., Doosan Bobcat Inc., Yanmar Co., Ltd., Volvo Construction Equipment and Services, Inc., JCB, Inc., KOBELCO Construction Machinery Co., Ltd., Nagano Industry Co., Ltd. and many more.
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