Large Excavators Market By Operating Weight (45 to 65 Ton, 65 to 100 Ton, Above 100 Ton), By Business Type (New Sales, Aftersales), By End User (Construction and Infrastructure, Mining and Quarrying, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global large excavators market was valued at $21,984.3 million in 2022 and is projected to reach $29,275.6 million by 2032, registering a CAGR of 3.0% from 2023 to 2032. An excavator is a heavy industrial machinery used in construction, mining, and other industries for digging and earthmoving applications. Excavators with operating weights of 45 tons and more are considered large excavators. The framework of an excavator comprises essential components, including a boom, dipper, and bucket. These elements are linked to a cab positioned on a revolving house. Many excavator cabs have the capability to rotate a complete 360 degrees, enhancing overall visibility.
Large excavators are primarily used in the construction and mining industry and rapid growth in these industries is driving the growth of the market. For example, India's ambitious National Infrastructure Pipeline project, with an anticipated expenditure of $759.76 billion spread over five years (2020-2025), significantly contributes to the increasing demand for large excavators. Furthermore, the rising demand for metals and minerals from the industrial sector is driving the mining sector. The mining and quarrying sector is a major user of large excavators. However, the region-specific environmental regulations are limiting market growth. Contrarily, technological advancements such as the integration of automation, Artificial Intelligence, and other such technologies are anticipated to present lucrative growth opportunities for the market growth.
Furthermore, the price of oil & gas and the price of raw materials have experienced increased volatility globally, due to a rise in inflation driven by Ukraine–Russia war. This has led to slow-paced growth of the large excavators market.
The large excavators market is segmented on the basis of large excavators operating weight, business type, end user, and region. On the basis of operating weight, the market is divided into 45 to 65 Tons, 65 to 100 tons, and Above 100 tons. On the basis of business type, the market is categorized into new sales and aftersales. On the basis of end user, the market is divided into construction and infrastructure, mining and quarrying, and others. On the basis of region the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, the UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competition AnalysisCompetitive analysis and profiles of the major players in the large excavators market are provided in the report. Major companies in the report include AB Volvo, LIEBHERR-INTERNATIONAL AG, KOMATSU Ltd, Hitachi Ltd., XCMG Construction Machinery Co., Ltd., Deere & Company, CNH Industrial N.V., Sanny Global, HD Hyundai Infracore Co., Ltd., and Caterpillar Inc. Major players to remain competitive adopt development strategies such as product launches, business expansion, acquisitions, expansion, partnerships, and mergers.
Key benefits for stakeholdersThe report provides an extensive analysis of the current and emerging large excavators market trends and dynamics.
In-depth market analysis is conducted by constructing market estimations for the key market segments between 2022 and 2032.
Extensive analysis of the large excavators market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
The global large excavators market forecast analysis from 2023 to 2032 is included in the report.
Key market players within the large excavators market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the large excavators industry.
Key Market SegmentsBy Operating Weight65 to 100 Ton
Above 100 Ton
45 to 65 Ton
By Business TypeNew Sales
Aftersales
By End UserConstruction and Infrastructure
Mining and Quarrying
Others
By RegionNorth America
U.S.
Canada
Maxico
Europe
Germany
France
UK
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market PlayersAB Volvo
LIEBHERR-INTERNATIONAL AG
KOMATSU Ltd
XCMG Construction Machinery Co., Ltd.
Deere & Company
Sanny Global
HD Hyundai Infracore Co., Ltd.
Caterpillar Inc.
Hitachi, Ltd
CNH Industrial N.V.
Please Note: It will take 7-10 business days to complete the report upon order confirmation.