Excavator market size is Projected to reach USD 62.2 billion by 2026 – Polaris Market Research

Excavator Market Share, Size, Trends, & Industry Analysis Report by Product Type (Mini, Heavy, Wheeled, Crawler); By Application (Infrastructure, Mining, Waste Management); By Region, Segment Forecasts, 2020 – 2026

The global excavator market size is expected to reach USD 62.2 billion by 2026 according to a new study by Polaris Market Research. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.

Excavators are building equipment which is equipped with a dipper, boom or bucket fixed on a mobile platform that is based on application requirements. The excavators assist in the execution of excavation, landscaping, picking and placing, handling and construction of materials, demolition and other activities. The excavators also help to complete labor-intensive tasks or earlier work performed using heavy building equipment.

Advances in technology have also resulted in superior equipment for excavators with high power output and performance capabilities, offering effective alternative solutions for heavy construction equipment. As a result, excavators are available for various applications in various power output capacities.

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Excavators Market Report Scope –

One of the major indicators driving the growth of the market for excavators during the forecast period is the growing construction industry. It is also expected that the versatile advantages of excavators, such as durability, compact size, superior maneuverability, availability of different power output ranges and others, will fuel the demand for excavators over the forecast period. In order to optimize the building process in the construction industry, rapid infrastructural development and technological advancement lead to the incorporation of advanced machinery and equipment.

In addition, heavy construction equipment is also projected to boost the growth of the market for excavators over the demand for efficient, robust, and mobile construction equipment, providing lucrative opportunities for market players. However, it is expected that the lack of skilled operators and technicians will hamper the growth of the market for excavators in emerging economies.

In addition, heavy construction equipment is also projected to boost the growth of the market for excavators over the demand for efficient, robust, and mobile construction equipment, providing lucrative opportunities for market players. However, it is expected that the lack of skilled operators and technicians will hamper the growth of the market for excavators in emerging economies.

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 Regional Outlook –

Asia Pacific dominates the global market, driven by the growth in China’s urbanization and growth in infrastructure development. Population growth is expected to boost the construction market in countries like India and China. The construction of roads and infrastructure in developing countries such as China and India are expected to increase rapidly. This is estimated to boost the market for excavators. Also, North America is a favorable market for this industry. Another positive outlook in Europe is that excavators are used on a large scale in developed countries such as Germany, France and the United Kingdom.

Saudi Arabia and Israel’s market is also growing rapidly. This is expected to increase the Middle East & Africa market share. The region is a leading oil and gas market and thus offers huge opportunities for the MEA region. Due to the implementation of new emission standards, companies are trying to introduce environment friendly machines and are constantly trying to develop enhanced products which would meet the international regulations and norms. This is one of the major concerns for the overall industry.

Polaris Market research has segmented the excavators market report on the basis of product type, application and region

Excavators Product Type Outlook (Revenue, USD Billion, 2015 – 2026)

  • Mini
  • Heavy
  • Wheeled
  • Crawler
  • Excavators Application Type Outlook (Revenue, USD Billion, 2015 – 2026)
  • Construction
  • Mining
  • Waste Management
  • Excavators Regional Outlook (Revenue, USD Million, 2015 – 2026)
  • North America
  • U.S
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Asia Pacific
  • India
  • Japan
  • China
  • South Korea
  • Latin America
  • Brazil
  • Mexico
  • Colombia
  • Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Israel
  • UAE

About  Us-

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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Polaris Market Research
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