Earthmoving Equipment Industry Data Book - Excavator, Loader, Motor Grader, Dumper And Dozer Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030
Earthmoving equipment demand is anticipated to increase with 6.7% CAGR throughout the forecast timeframe 2023-2030 owing to the growing urban population demand for leveraging infrastructure facilities.
Earthmoving Equipment Industry Data Book Coverage –
Earthmoving Equipment Industry Data Book Coverage Snapshot
Markets Covered | ||||
Earthmoving Equipment Industry USD 85,892.1 million in 2022 6.7% CAGR (2023-2030) | ||||
Excavator Market Size USD 40,006.1 million in 2022 7.2% CAGR (2023-2030) | Loader Market Size USD 32,963.1 million in 2022 4.1% CAGR (2023-2030) | Motor Grader Market Size USD 854.4 million in 2022 6.0% CAGR (2023-2030) | Dumper Market Size USD 7,111.9 million in 2022 7.3% CAGR (2023-2030) | Dozer Market Size USD 4,975.6 million in 2022 6.2% CAGR (2023-2030) |
Access the Global Earthmoving Equipment Industry Data Book, 2023 to 2030, compiled with details like market sizing information forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies
Excavators Market Growth Trends
The global excavators market size is expected to reach USD 108.37 billion by 2030, expanding at 5.2% CAGR from 2023 to 2030, according to a new study by Grand View Research Inc. The primary driver of the market's expansion is the sharp rise in the demand for excavators among construction machinery contractors for site preparation tasks including grading and excavation. The increased construction of roads and highways, urban infrastructure, and the mining industry will likely lead to an increase in demand for wheeled excavators throughout the course of the projected period, thus supporting the excavator industry’s growth.
The expansion in investment in the mining and construction industries across numerous nations is what is driving the need for excavators. Increasing demand for "megacities" and "smart cities" in developing countries, as well as the construction industry's rapid growth, are some of the drivers driving the wheeled excavator industry. Moreover, the market for wheeled excavators is predicted to rise as a result of technological breakthroughs like the air-to-water intercooler engine, which produces a higher output. Furthermore, the excavator industry is growing due to features like special riding control, dedicated swing pumps, load-sensing hydraulics, work-toll adaptability, and hydraulically powered cooling fans.
Wheeled excavators are typically utilized in urban settings, and initiatives like smart cities and megacities are increasing demand for them. One of the main factors promoting the segment's growth is government spending on new infrastructure development and upgrading of existing infrastructure. Excavators are used in construction for grading, landscaping, building demolition, digging trenches, holes, and foundations, as well as for material handling and lifting. Their capacity varies depending on size and attachments, doing big operations or lesser ones.
Most excavator manufacturers are developing electric excavators to fulfil the regulatory and customers' changing requirements since strict laws continue to present manufacturers with several challenges and consumers are seeking to lower the environmental impact of the equipment they employ. Recently, Volvo Construction Equipment and Services, Inc. unveiled a totally electric prototype of a small-sized excavator that outperforms traditional excavators in terms of efficiency, noise level, and cost of ownership. Similarly, Hyundai Construction Equipment (HCE), which worked with Cummins Inc. to use its most recent innovations, including Li-ion technology in the production of electrically driven micro excavators. It is another manufacturer to introduce a 100% electric excavator prototype.
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Loader Market Growth Trends
The global loader market size is expected to reach USD 20.24 billion by 2027, expanding at a CAGR of 3.4% from 2020 to 2027, according to a new report by Grand View Research, Inc. The substantial growth owing to increased government spending on projects to develop public infrastructure would increase the demand for earthmoving equipment, including loaders. Moreover, increasing demand for construction equipment rental, especially in developed regions, such as North America and Europe, would further increase the demand.
The loader is one of the essential equipment predominantly used at any construction site. These equipment are used for conducting a number of construction activities, including demolition, renovation, building loads, and material handling. Development of technology and integration of advanced features, including advanced telematics, GPS, cellular network technology, and Bluetooth connectivity, have contributed to market growth. The operators are gradually getting accustomed to new and advanced machinery as it enables ease on the worksites and can complete major tasks within lesser time.
Demand for all-electric and hybrid variants of loaders are significantly increasing in regions, such as Europe. The companies are providing hybrid options of wheeled loaders, but at a higher price as the development cost is higher as compared to the conventional model. For instance, Volvo Construction Equipment is developing the L25 variant of the loader and would start production in mid-2020. The new electric loader would deliver reduced energy costs, zero exhaust emissions, improved efficiency, fewer maintenance requirements, and significantly lower noise levels compared to their conventional counterparts.
Competitive Landscape
Key players operating in the earthmoving equipment industry are –
- Komatsu
- Hitachi Construction Machinery
- Caterpillar
- John Deere
- Volvo
- CNH Industrial
Grand View Research’s earthmoving equipment Industry data book is a collection of market sizing information forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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