According to Technavio’s latest market research study, the global hydraulic excavator market is expected to grow at a CAGR of close to 2% during the forecast period 2017-2021.
This report by Technavio provides an in-depth analysis of the global hydraulic excavator market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the technology type
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Hydraulic excavator market by crawler excavator: The extensive use of crawler excavator for uneven surfaces, sloppy grounds, and muddy territories helps in the growth of this market segment. These machines adapt to the soil texture and manage in soft surfaces and muddy soils, making it the most popular choice among contractors. These excavators are preferred because of their stability without using outriggers and better traction in muddy and slippery areas.
“The tracks of a crawler excavator have better contact with the ground, thus distributing the weight of the vehicle uniformly over a surface. This feature increases its stability when compared with the four stabilizer pads in a tracked excavator. This crawler has high applications in quarry mining,” says Likhitha Bandla, a lead analyst at Technavio for research on construction.
Hydraulic excavator market by mini excavator: The ability to work in tight and confined spaces of these type of excavators is helping in the growth of this market segment. These machines create minimal noise during operations, making them suitable for application in urban areas where there are restrictions on noise levels. Mini excavators are light machines and utilizing these machines help save money on commercial driver licenses and permissions for hauling the equipment on the expressway.
Hydraulic excavator market by wheeled excavator: The easy mobility coupled with low operation costs in the long term will help in the growth of this market segment during the forecast period. These machines are better suited for the urban environment and are believed by the Technavio analysts that municipalities will be interested in buying them for maintenance work.
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The top vendors operating in the global hydraulic excavator market are:
- Caterpillar
- Hitachi Construction Machinery
- Komatsu
- Volvo Construction Equipment
- Xuzhou Construction Machinery Group (XCMG)
Other prominent vendors in the market include Terex Construction, Liebherr, John Deere, SANY, Doosan Infracore, Zoomlion, JCB, Kobelco Construction Machinery, Metso, CNH Industrial, Hyundai Heavy Industries, Wirtgen Group, Atlas, LiuGong, Wacker Neuson, Manitou, Kubota, Sumitomo Heavy Industries, Palfinger, Sandvik Construction, Lonking, Fayat Group, Shantui, Hiab, Ammann, Astec Industries, Kato Works, Takeuchi, XGMA, Furukawa, Skyjack, BEML, IHI, Gradall, Yanmar, Rhino, New Holland, Mustang, LBX, Uralvagonzavod, and ST Kinetics.
A more detailed analysis is available in the Technavio report titled, ‘Global Hydraulic Excavator Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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