Earthmoving Equipment Market Size to Surpass $84.24 billion by 2026 | Increasing Pace of Infrastructure Development to Boost Growth
According to Fortune Business Insights, the global Earthmoving Equipment Market size is projected to grow from USD 69.85 Billion in 2018 to USD 84.24 billion in 2026 at CAGR of 2.4% during forecast period.
Pune, India, Nov. 21, 2023 (GLOBE NEWSWIRE) — The global earthmoving equipment market size is anticipated to grow from USD 69.85 billion in 2018 to USD 84.24 billion by 2026, exhibiting a CAGR of 2.4% over the estimated period. The earthmoving machinery market is experiencing dynamic trends and robust growth driven by a combination of technological advancements, increasing infrastructure projects, and a growing emphasis on sustainability. It is characterized by an amalgamation of technological innovation, sustainability initiatives, and a surge in infrastructure projects, fostering a landscape of continuous growth and evolution. As the industry navigates these trends, it is poised to shape the future of construction, mining, and related sectors on a global scale. Fortune Business Insights™ provides this information in its research report, titled “Earthmoving Equipment Market, Forecast 2019-2026”.
Industry Development:
Hitachi Construction Machinery’s wholly-owned subsidiary in Queensland, Australia, Bradken Pty Ltd, shipped two EH5000AC-3 rigid dump trucks that are about 10% lighter than the conventional Hitachi dump trucks.
J.C. Bamford Excavators Limited announced an investment worth £65 million to set up a new plant in Vadodara, Gujarat, which will dedicatedly fabricate and export parts via the port at Surat to meet increasing earthmoving equipment demand from the Middle East and Africa.
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2019 to 2026 |
| Forecast Period 2019 to 2026 CAGR | 2.4% |
| 2026 Value Projection | 84.24 billion |
| Base Year | 2018 |
| Earthmoving Equipment Market Size in 2018 | 69.85 billion |
| Historical Data for | 2015-2017 |
| No. of Pages | 120 |
| Segments covered | By Equipment Type, By Industry, By Region |
Market Drivers and Restraints:
The earthmoving machinery market growth across the globe is dominated by the players such as Caterpillar, Hitachi, Komatsu, Volvo Group, and SANY America. Considering the demands of the end-users, these companies are indulged in incorporating various business strategies that are used to enhance the customer experience.
Currently, it has been observed that the end-users across the developing countries, frequently prioritize on price in making investment decisions, while customers in developed economies generally prefer the productivity and other performance criteria to lower owning and operating costs over the lifetime of the machine
COVID-19 Impact:
Amid the challenges posed by the COVID-19 pandemic, certain factors have positively influenced the earthmoving machinery market, fostering resilience and innovation within the industry. One notable shift has been the accelerated adoption of technology. Construction companies, compelled to adapt to remote working conditions and ensure job site safety, have increasingly turned to advanced technologies in earthmoving machinery.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/earthmoving-equipment-market-101705
Report Coverage:
- It assimilates key market drivers and restraints.
- It profiles the rankings of key market players accordingly.
- It includes key market developments and information on different market segments.
- It provides a comprehensive market assessment.
- It assesses the COVID-19 pandemic’s impact on the market.
Earthmoving Equipment Market Segmentation Analysis:
Based on the Product
- Backhoes
- Excavators
- Loaders
- Compaction Equipment
- Other
Based on the Application
- Surface mining
- Underground mining
- Construction
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Competitive Landscape:
The competitive landscape of the earthmoving machinery market is characterized by the presence of key global players, each vying for market share through innovation, product diversification, and strategic collaborations. Caterpillar Inc., a behemoth in the industry, stands out with its comprehensive range of earthmoving equipment, including excavators, bulldozers, and loaders.
A List of Key Manufacturers Operating in the Global Market:
- Hyundai Heavy Industries Co. Ltd
- J.C. Bamford Excavators Limited
- AB Volvo
- Doosan Infracore Co. Ltd
- SANY America
- Liebherr Group
- Hitachi Construction Machinery Co. Ltd
- Terex Corporation
- Caterpillar Inc.
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Table of Content:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Earthmoving Equipment Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Equipment Type (Value)
- Excavators
- Mini Excavator
- Crawler Excavator
- Wheeled Excavator
- Others (Dragline, Long Reach, etc.)
- Loaders
- Skid Steer
- Backhoe
- Wheeled Excavator
- Crawler/ Track
- Mini Loaders
- Dump Trucks
- Articulated Trucks
- Rigid Trucks
- Others (Dumpers, Motor Graders, etc.)
- Excavators
- By Industry (Value)
- Mining
- Construction
- Agriculture & forestry
- Others (Oil & Gas, etc.)
- By Geography (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- By Equipment Type (Value)
Continued….
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