The global Earthmoving Equipment Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Earthmoving Equipment Market is expected to reach USD 184.56 billion by 2022. Earthmoving Equipment is a heavy machine mainly designed for construction operations that involve earth work. It is exclusively used to dig foundations for landscaping and move large amount of earth. It is also termed as heavy hydraulics, heavy trucks, engineering equipment, heavy machines, and construction equipment. However, hydraulic drive is used as a main source of motion.
Key Players:
- Atlas Copco
- Bharat Earth Movers Limited
- Bobcat Company
- Caterpillar
- CNH Global NV
- Doosan Infracore Ltd
- Hitachi Construction Machinery
- Hyundai Heavy Industries Ltd
- JCB
- John Deere & Co.
- Kobelco Construction Machinery Co. Ltd
- Komatsu Ltd
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Growth Drivers:
The Earthmoving Equipment Market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe.
Growth in construction spending, technological enhancement, high spending on R&D activities by manufacturers are documented as major factors of Earthmoving Equipment Market that are estimated to enhance the growth in the years to come. However, high cost of raw material are the factors that may restrain overall market growth in the coming years. Earthmoving Equipment industry is segmented based on product type, application, and region.
Application Outlook:
- Construction
- Mining
- Forestry
- Military
- Agricultural
- Others
Construction sector accounted for the substantial market share of Earth moving Equipment and is estimated to lead the overall market in the coming years.
Product Outlook:
- Motor Graders
- Crawler/Wheeled Excavators
- Wheeled Tractors
- Mini Excavators
- Bull Dozers/Crawler Tractors
- Backhoe Loaders
- Skid Steer Loaders
- Crawler/Wheeled/Compact Loaders
Backhoe loaders sector accounted for the substantial market share of Earthmoving Equipment and is estimated to continue its dominance in the coming years. This may be because of high demand for loaders from construction industry and growing construction activities in the regions.
Regional Outlook:
Globally, Asia Pacific accounted for the significant market share of Earth moving Equipment and is estimated to lead the overall market in the coming years. Moreover, the regional market is estimated to grow at highest CAGR in the coming years. The reason behind the overall market growth could be growing investment in the urban and rural infrastructure like IT parks, constructing residential areas, roads, and ports. The developing countries like India and China are the major consumers Earth moving Equipment in the region.
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