Crawler and excavator is one of the essential heavy duty equipment in several industrial operations which includes construction and mining activities in particular. Equipment such as standard, short tail, hybrid and super long front crawler and excavator are widely used across the globe.
According to the report by Future Market Insights, the global crawler and excavator market was estimated to exceed valuation of US$ 180 Mn by the end of 2026. The global crawler and excavator market is expected to register a moderate CAGR of 2.7% during the forecast period. Following insights have been cited from an exclusive interview between a journalist and market analyst associated with Future Market Insights.
Based on your exhaustive research on crawlers and excavators, what are the key aspects that are likely to surge its uptake across the globe?
Building construction, transport and commercial infrastructure activities play crucial role in the development of a particular region. With the growing need for urbanization, construction activities are highly likely to witness potential growth during the forecast period. Crawlers and excavators are gaining popularity in mining sector as they allow efficient removal of debris and reduced complexities in excavation processes. Moreover, arrival of innovative technologies to develop existing product is expected to strengthen market growth of crawlers and excavators in coming years.
In terms of application of crawler and excavator, which equipment are likely to remain in high demand during the forecast period?
Based on the product type, short trail crawler and excavator are highly likely to gain popularity owing to its excellent features and improved efficiency. Sales of short trail crawler and excavator are expected to account for nearly 32% value share globally.
As per FMI’s demarcation on crawler and excavator market based on equipment’s operating weight, what’s your take on increase/decrease in uptake?
Crawlers and excavators with an operating weight in the range of 22,650-30,200 Kg is expected to find various application in both mining and construction sectors. The sales of crawlers and excavators based on above mentioned operating weight are anticipated to exceed US$ 48.2 Mn across the globe.
Based on the salient features of crawler and excavators is there any specific component that influences sales growth?
Bucket capacity of crawlers and excavators plays significant role in its functionality. Based on bucket capacity, small (0.30-2.00), medium (2.00-4.00) and large (Above 4.00) are available in the market. Among these, medium sized bucket capacity are likely to remain high in demand and expected to account for nearly 40% of value share during the forecast period.
Who are the major stakeholders to gain maximum market value share? What is the key strategy for market players to compete on global platform?
Several manufacturers are focusing to expand their product portfolio with the launch of innovative equipment for versatile application at reduced prices. Another area of focus is to build long-term supply relations with construction and mining companies in order to expand market share and attract large customer base.
European companies such as FL Smidth, CNH Industries, Liebherr and ThyssenKrupp are expected to account maximum value share along with Japan based key players like Hitachi Construction Machinery Co. and Komatsu. Other companies based in the North America like Caterpillar, Deere & Company, Volvo Construction Equip., Doosan and Bobcat, Inc. are likely to gain potential opportunities in crawler and excavator market.
According to you, how has crawler and excavator gain traction in the Europe over the recent past?
The Asia Pacific excluding Japan (APEJ) is highly likely to remain lucrative market place for application of crawler and excavator. Growing middle class population has led to encourage rapid industrialization and urbanization in this region. Thereby, increasing construction and mining activities has led to encourage adoption of crawler and excavators in the near future. Thus crawler and excavator market in APEJ is expected to register a CAGR of 3.2% during the forecast period.
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