Earthmoving Equipment Industry Data Book Covers Excavator, Loader, Motor Grader, Dumper And Dozer Market
The global Earthmoving Equipment Industry generated over USD 85,892.1 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2023 to 2030.
Grand View Research’s earthmoving equipment industry data book is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Access the Global Earthmoving Equipment Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Excavators Market Growth & Trends
The global excavators market size is expected to reach USD 108.37 billion by 2030, expanding at 7.2% CAGR from 2023 to 2030, according to a new study by Grand View Research Inc. The primary driver of the market's expansion is the sharp rise in the demand for excavators among construction machinery contractors for site preparation tasks including grading and excavation. The increased construction of roads and highways, urban infrastructure, and the mining industry will likely lead to an increase in demand for wheeled excavators throughout the course of the projected period, thus supporting the excavator industry’s growth.
The expansion in investment in the mining and construction industries across numerous nations is what is driving the need for excavators. Increasing demand for "megacities" and "smart cities" in developing countries, as well as the construction industry's rapid growth, are some of the drivers driving the wheeled excavator industry. Moreover, the market for wheeled excavators is predicted to rise as a result of technological breakthroughs like the air-to-water intercooler engine, which produces a higher output. Furthermore, the excavator industry is growing due to features like special riding control, dedicated swing pumps, load-sensing hydraulics, work-toll adaptability, and hydraulically powered cooling fans.
Wheeled excavators are typically utilized in urban settings, and initiatives like smart cities and megacities are increasing demand for them. One of the main factors promoting the segment's growth is government spending on new infrastructure development and upgrading of existing infrastructure. Excavators are used in construction for grading, landscaping, building demolition, digging trenches, holes, and foundations, as well as for material handling and lifting. Their capacity varies depending on size and attachments, doing big operations or lesser ones.
Most excavator manufacturers are developing electric excavators to fulfil the regulatory and customers' changing requirements since strict laws continue to present manufacturers with several challenges and consumers are seeking to lower the environmental impact of the equipment they employ. Recently, Volvo Construction Equipment and Services, Inc. unveiled a totally electric prototype of a small-sized excavator that outperforms traditional excavators in terms of efficiency, noise level, and cost of ownership. Similarly, Hyundai Construction Equipment (HCE), which worked with Cummins Inc. to use its most recent innovations, including Li-ion technology in the production of electrically driven micro excavators. It is another manufacturer to introduce a 100% electric excavator prototype.
Order your copy of the Free Sample of “Earthmoving Equipment Industry Data Book - Excavator, Loader, Motor Grader, Dumper and Dozer Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Motor Grader Market Growth & Trends
The global motor grader market size is expected to expand at a CAGR of 6.0% from 2023 to 2030, according to a new study by Grand View Research Inc. The growing demand for motor graders among construction contractors for preparing sites through operations, including carrying debris and grading, is the main factor driving the growth of the motor grader industry. Throughout the anticipated period, there will probably be a growth in motor grader demand due to the development of roads and highways, urban infrastructure, and the mining industry, supporting the expansion of the motor grader industry.
The increasing investment in construction and mining sectors across multiple nations drives the demand for motor graders. The growing need for megacities and smart cities in developing nations and the brisk expansion of the construction sector are factors propelling the motor grader industry. A higher output engine known as the air-through water cooler is a technological advancement expected to boost the market for motor graders. In addition, attributes like a unique riding control, a specialized swing pump, load sensor hydraulics, and a hydraulics-based powered cooling fan are contributing to the market expansion.
Motor graders are frequently used in urban and mining environments. Government investment in fresh infrastructure development projects and refurbishing old infrastructure is one of the primary drivers encouraging the segment's growth. In construction, motor graders are used for grading, leveling grounds, and varying debris, as well as for lifting and material handling. Their ability to do large or small operations depends on their size and attachments, which are expected to support the growth of the motor grader industry.
Since stringent laws are compelling manufacturers with numerous hindrances and end users are looking to reduce the environmental impact of the equipment they use, the majority of motor grader manufacturers are developing electric motor graders to satisfy the regulatory and customers' changing requirements, supporting the motor grader industry growth.
Go through the table of content of Earthmoving Equipment Industry Data Book to get a better understanding of the Coverage & Scope of the study
Competitive Landscape
Key players operating in the Earthmoving Equipment industry are –
- Komatsu
- Hitachi Construction Machinery
- Caterpillar
- John Deere
- Volvo
- CNH Industrial
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