A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Excavators
Market. The
study, titled “Excavators
Market - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast 2016 - 2024”,
is available for sale on the firm’s website.
Excavators,
also known as hydraulic excavators, are heavy construction equipment
that play an important role in the global construction equipment
market. Excavator is one of the major segments of the construction
equipment industry. It is widely used in applications such as
commercial construction, residential construction, mining, and sewage
disposal. An excavator comprises a backhoe called rear actor or back
actor, dipper or a stick, digging bucket, and cab on a rotating
platform known as a house. The backhoe draws towards itself the
bucket attached. The dipper or dipper stick carries the bucket. The
digging bucket digs the soils from the ground, while the cab on the
rotating platform dumps the soil at the required place. Excavator is
used to excavate soil of different forms.
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Various
types of excavators are available in the market. They are also
available in different power ranges. In terms of power range, the
excavators market can be segmented into 0-300 HP, 301-500 HP, and 501
& above HP. In terms of type, the excavator market can be divided
into mini, heavy, wheeled, and crawler. Mini excavator is also known
as compact excavator. It is smaller in size, and thus called mini
excavator. It weighs from 0.7 to 8.5 tons. Mini excavator consists of
a backfill blade and a boom swing. Heavy excavators are the usual
hydraulic excavators with backhoe, dipper, digging bucket, and cab.
Crawler excavator is a crawling digger designed to dig or move large
objects. It runs or moves on a crawler chassis. Wheeled excavators
are excavator with wheels. The crawler excavator segment dominated
the global excavators market in 2015. It was followed by the mini
excavator segment. This was due to the increasing demand for
technologically advanced and fuel-efficient excavators.
The
excavator market can also be segmented on the basis of end-user.
Excavators are employed in end-user markets such as infrastructure,
mining, and waste management. The product is used to place armors and
large rocks, move construction materials and other construction waste
in the infrastructure market. Excavators are used to dig the ground
for extraction of ores in the mining industry. In waste management,
excavators are employed to carry large heaps of waste from one place
to another for disposal. The excavators market expanded significantly
from 2014 to 2015 due to the increase in investments in construction
and mining sectors and rise in awareness about waste management.
Asia
Pacific dominates the global excavator market, led by the growth in
infrastructure development and rise in urbanization in China.
Increase in population in countries such as China and India is
expected to boost the construction market. Construction of roads and
infrastructure is anticipated to increase rapidly in developing
countries such as China and India. This is estimated to propel the
excavators market. North America is also a favorable market for
excavators. Outlook for the excavator market in Europe also appears
positive, as excavators are used on a large scale in developed
countries such as Germany, France, and the U.K. The excavator market
in Saudi Arabia and Turkey is also growing rapidly. This is projected
to augment the excavator market in Middle East & Africa. The
region is a leading market for oil & gas. This offers immense
opportunities to the excavator market in Middle East & Africa.
Excavators are employed in the mining of oil. Thus, demand for
excavators in Middle East & Africa is increasing. Competition is
likely to intensify in the global excavator market in the next few
years owing to implementation of new emission norms. This is also
estimated to create new market opportunities.
Key
players operating in the excavator market include Caterpillar Inc.,
Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Kobelco
Construction Equipment, and Volvo Construction Equipment. Increasing
investments in the residential construction segment followed by
transport infrastructure development is projected to augment the
prospects for growth in this market. This will be resulting in steady
market growth rate and boosting the sales of excavator manufacturers.
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accurate market forecast and analysis on the Excavators market.
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The
report offers a comprehensive evaluation of the market. It does so
via in-depth insights, understanding market evolution by tracking
historical developments, and analyzing the present scenario and
future projections based on optimistic and likely scenarios. Each
research report serves as a repository of analysis and information
for every facet of the market, including but not limited to: Regional
markets, technology developments, types, applications, and the
competitive landscape.
The
study is a source of reliable data on:
- Key market segments and sub-segments
- Evolving market trends and dynamics
- Changing supply and demand scenarios
- Quantifying market opportunities through market sizing and market forecasting
- Tracking current trends/opportunities/challenges
- Competitive insights
- Opportunity mapping in terms of technological breakthroughs
The
regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
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