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.
Due to its remarkable qualities, including a large lifting capacity, flexibility, and mechanical strength, crawler excavators are still becoming more and more well-liked on a global scale. In the mining and construction industries, there is a significant increase in demand for sophisticated crawler excavators. The global crawler excavator market has also benefited from continuous industrialisation, urbanisation, and infrastructure development in developing nations in the Asia Pacific, Middle East, and Latin American regions.
Construction, mining, and excavation are some of the industries that are heavily automating, which is leading to a rise in the use of crawler excavators in these industries.
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Many market participants are actively focused on additional technical innovation and including cutting-edge features in their product as they recognise the potential. Players are working harder to make their products more functional in order to boost their market presence. In mining and construction, crawler excavators offer a higher level of efficiency and safety.
Additionally, this equipment makes it easier to excavate and remove waste more quickly, which is thought to be a key cause in their widespread acceptance. Builders, building firms, and mining organisations may tackle some of the most difficult construction tasks with ease by using crawler excavators in addition to achieving improved efficiency. Additionally, these vehicles can significantly reduce downtime at mining and construction sites.
The automated and remote control applications on today’s hydraulic crawler excavators enable operators to remotely control or manage digging and loading/unloading tasks. As such, the factors are anticipated to support the worldwide crawler excavator market over 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.
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.
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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
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