Excavator Market Anticipated to Reach USD 67.7 Billion by 2024

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Global excavator market is dominated by developing countries such as India, China and Indonesia owing to rapid industrialization and growing construction industry. North America is projected to be the second fastest growing market.


 

New York, USA, February 10, 2019 - /PressReleasePoint/ -According to Goldstein Research, global excavator market is expected to reach USD 64.7 billion by 2024 from USD 38.7 billion in 2016, growing at a CAGR of 6.7% over the forecast period 2016-2024. Huge investments by government bodies and private sector for infrastructure development and rapid urbanization are major factors for the growth of excavator market all across the globe. Excavator market segmentation has been carried out on the basis of product type and power range. By power range, high power excavators modern technology are witnessing faster growth compared to low end excavators. In terms of power, 0-300 BHP excavators have grown at a CAGR of 9% while 300-500 BHP excavators have registered growth of 23% CAGR during past decade.

Market Segmentation

On the basis of in-depth analysis, Global Excavator Market can be segmented as follows:

By Product Type

  • Crawler Excavators
  • Backhoe
  • Suction Excavators
  • Dragline Excavators

By Power range

  • 0-300 BHP
  • 300-500 BHP
  • 500 & Above

 By Region

  • North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

Excavator Market report by Goldstein Research contains detailed overview of the global excavator market.Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Caterpillar Inc., Hitachi, Kobelco, Komatsu Ltd., Volvo, JCB, Hyundai, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents the global excavator market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.


Download Exclusive Sample Report:  https://www.goldsteinresearch.com/request-sample/excavator-market-outlook-2024-global-opportunity-and-demand-analysis-market-forecast-2016-2024Excavator
 

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