The crawler excavator market demand is expected to cross US$ 50,307.3 million in 2023 and is anticipated to attain a valuation of US$ 65,665.2 million by 2033. The crawler excavator market share is predicted to thrive at a CAGR of 2.7% from 2023 to 2033.
The Crawler Excavator Market is witnessing substantial growth driven by the increasing demand for heavy construction machinery in various infrastructure and construction projects worldwide. Crawler excavators are versatile earthmoving machines equipped with tracks or crawlers that provide stability, mobility, and maneuverability in diverse terrains and working conditions.
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Moreover, rapid urbanization, infrastructure development, and investment in construction projects, such as road construction, building construction, mining, and excavation, are driving the demand for crawler excavators. These machines are essential for tasks such as digging, trenching, material handling, demolition, and landscaping, making them indispensable in the construction industry.
Furthermore, advancements in excavator technology, such as improved fuel efficiency, higher productivity, enhanced operator comfort and safety features, and integration with telematics and GPS systems, are driving innovation in the market. Manufacturers are increasingly focusing on developing eco-friendly and energy-efficient excavators to meet regulatory requirements and customer preferences for sustainable construction practices.
Additionally, emerging trends such as the adoption of electric and hybrid excavators, autonomous operation, and remote monitoring and control systems are shaping the future of the crawler excavator market. As construction activities continue to expand globally, driven by infrastructure investment and urban development, the demand for crawler excavators is expected to remain strong, presenting opportunities for manufacturers to innovate and capitalize on growth opportunities in the construction machinery sector.
Key Takeaways from Crawler Excavator Market Report:
- In 2018, the global market size stood at US$ 44,464.3 million.
- The market expanded at a CAGR of 2.5% from 2018 to 2022.
- In 2022, the global market size stood at US$ 49,080.3 million.
- The United States captured 13.5% of global market shares in 2022.
- India captured 2.8% of global market shares in 2022.
- China captured 3.0% of global market shares in 2022.
- The United Kingdom captured 2.8% of global market shares in 2022.
- The standard product type segment captured 51.3% of global market shares in 2022.
- The medium (2.00 to 4.00) bucket capacity segment acquired 23.3% of global market shares in 2022.
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Key Players in the Global Market
- Tata Hitachi Construction Machinery (THCM)
- Bharat Earth Movers Limited (BEML)
- Komatsu
- JCB
- Doosan Excavator
- Caterpillar
- SANY
- Volvo Construction Equipment
- Kobelco Construction Equipment India
- Hyundai Construction Equipment
Crawler Excavator Market Segmentation
By Product Types:
- Standard
- Hybrid
- Short Tail
- Super Long Front
By Bucket Capacity:
- Small (0.30 to 2.00)
- Medium (2.00 to 4.00)
- Large (Above 4.00)
By Operating Weight:
- 12,500 to 22,100 Kg
- 22,650 to 30,200 Kg
- 34,300 to 45,750 Kg
- 51,000 to 70,650 Kg
- 78,500 to 93,300 Kg
- Above 95,900 Kg
By End Use Vertical:
- Construction
- Mining
- Forestry & Agriculture
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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