The global crawler excavator market size is projected to have a sluggish-paced CAGR of 2.7% during the forecast period. The market is currently estimated to be worth US$ 49.08 billion in 2022. By the year 2032, it is predicted that the market for crawler excavators would reach a high of US$ 64.07 billion.
Crawler excavators continue to gain popularity across the globe owing to their exceptional features such as high lifting capacity, flexibility and mechanical power. Demand for advanced crawler excavators is increasing at a substantial level in mining and construction activities. Infrastructural development, industrialization and urbanization which is ongoing in emerging countries situated in region such as Asia Pacific, the Middle East and Latin America has also provided an impetus to the global crawler excavator market.
Sectors such as construction mining and excavation are undergoing immense scale of automation, which is resulting in increased adoption of crawler excavators in these sectors.
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Realising the potential, many market players are actively focusing on further technological innovation and adding cutting-edge features to their product. In order to increase market presence, players are stepping efforts to improve their product functionality. Crawler excavators offer greater level of safety and efficiency in construction and mining activities.
Moreover, this equipment facilitates faster digging and removal of debris, which is consider as a major factor supporting their adoption. Using crawler excavator, builders, construction companies and mining companies are not only reaching higher efficiency but they can easily manage some of most complex construction tasks. Also, these vehicles can greatly reduce downtime in construction and mining sites.
The modern hydraulic crawler excavator has automated and remote control applications, which allow operators to remotely control or manage loading/unloading and digging operations. The factors as such are expected to support the global market for crawler excavator during the forecast period.
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Key Takeaways from the Crawler Excavator Market
- Asia Pacific is projected to dominate the global crawler excavator market with a CAGR of 3.2% during the forecast period.
- Medium Bucket Capacity segment is likely to dominate the market during the forecast period and accounted for a market share of 40% in 2021.
- As per FMI, North America accounted for a revenue share of US$ 9.62 Bn in the base year.
- Short Trail Crawler Excavator segment accounted for 32% volume share in the base year.
“Urbanization and rapidly growing investments in the infrastructure sector and other government strategic initiatives will further push the construction sector, creating growth opportunities in the crawler excavator market.” – Says an FMI Analyst
Recent Developments in the Crawler Excavator Market
- In September 2017, Komatsu launched a second excavator and second semi-automated excavator.
- In February 2017, John Deere updated its two 75G and 85G excavators that are capable of working around congested job sites in an efficient fashion.
- Caterpillar Inc. announced the acquisition of select assets from San Francisco-based robot and autonomy technology company Marble Robot Inc. The company has also hired employees from Marble Robot Inc. The acquisition was a part of the company’s strategy towards automation and a commitment to deliver next-generation Jobsite solutions.
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Competitive Landscape
Key players profiled in the report include Hyundai Construction Company, Deere & Company, Volvo Construction Equip., CNH Industries, Liebherr, Caterpillar, Hitachi Construction Machinery, Komatsu, Doosan Bobcat, Inc, and Sany Group.
Segmentation
Product Types
- Standard
- Hybrid
- Short Tail
- Super Long Front
Bucket Capacity
- Small (0.30-2.00)
- Medium (2.00-4.00)
- Large (Above 4.00)
Operating Weight
- 12,500-22,100 Kg
- 22,650-30,200 Kg
- 34,300-45,750 Kg
- 51,000-70,650 Kg
- 78,500-93,300 Kg
- Above 95,900 Kg
End Use Vertical
- Construction
- Mining
- Forestry & Agriculture
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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