Global Hydraulic Excavator Market Size, Share, and COVID-19 Impact Analysis, By Type (Crawler, Mini, Wheeled), By Power Rating (0-250 HP, 251-500 HP, and Above 501 HP), By Application (Construction, Mining & Waste Management), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2022-2030

Market Perspective

The Hydraulic Excavator Market was valued at USD 10.04 Billion in 2021. The market is projected to grow USD 21.43 Billion in 2030, at a CAGR of 4.3%.

A hydraulic excavator is a big, purpose-built vehicle used for excavation and demolition work. Additionally, hydraulic excavators can be effectively utilized to move vast quantities of minerals and materials from one location to another. In construction, hydraulic excavators are typically used for foundation digging, shaft drilling, and grading. Hydraulic cylinders, fluids, and motors enable all of the movements and operations of hydraulic excavators. Applications for hydraulic excavators can be found in infrastructure, mining, and other related industries. Hydraulic excavators of today are available in many different sizes. Compact or mini excavators are smaller models.

A particular kind of vehicle made for digging, uncovering, and devastation is the hydraulic excavator. It is a piece of heavy construction machinery used for mining, sewage disposal, and building both homes and businesses. Hydraulic excavators assist users and workers in automating the demolish and build processes to lighten workloads and boost efficiency.

COVID-19 ANALYSIS

The outbreak of COVID-19 had negatively impacted the global hydraulic excavator market. Due to lockdowns, travel restrictions, and business closures, COVID-19 has had an impact on the businesses and industries of numerous nations. The closing of numerous plants and factories has had a damaging influence on the delivery schedules, production, and sales of goods on the international market. Construction of buildings and complexes, both residential and non-residential, has continued despite the pandemic's onset. Additionally, as consumers' purchasing power has significantly decreased, there is less need for hydraulic excavators.

Increasing Spending on Construction Activities

Rising purchasing power has resulted in increased spending in the building industry. Additionally, the demand for hydraulic excavators is expanding quickly and is anticipated to keep doing so in the near future due to the increased infrastructure investments in developing nations like China and India. The aforementioned elements are anticipated to increase demand for hydraulic excavators globally, fueling the market for these machines.

DRIVERS

Rising Urbanization Aiding the Market Growth

The demand for hydraulic excavators is picking up speed once more with increased urbanization. The global hydraulic excavator market is being driven by factors including rising urbanization, growing infrastructural investments, and an expanding world economy.

RESTRAINT

Concerns Pertaining to High Costs of Excavator hampering the Market Growth

The construction equipment sector has a number of difficulties, such as excessive costs, the global economic slump, and strict emission regulations set by the government and the environment. These elements are anticipated to limit the market growth for hydraulic excavators.

SEGMENTATION INSIGHT

The global hydraulic excavator market is segmented by Type (Crawler, Mini and Wheeled), By Power Rating (0-250 HP, 251-500 HP, and Above 501 HP), By Application (Construction, Mining, Waste Management, and Region. Based on the type, the market is categorized crawler, mini and wheeled. Based on power rating, the market is categorized into 0-250 HP, 251-500 HP, above 501 HP. Based on application, the market is categorized into construction, mining, waste management. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.

REGIONAL INSIGHTS

The global hydraulic excavator market is categorized into North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa.

North America region is dominating the market share of the global hydraulic excavator market owing to the demand for hydraulic excavators is once again on the rise thanks to booming infrastructure projects and expanding partnerships between rental fleet operators and excavator manufacturers.

However, the Asia Pacific region is anticipated to grow over the next few years global hydraulic excavator market owing to the increasing demand for hydraulic excavators as a result of growing infrastructure investments and urbanization in developing nations like China and India. In turn, this will increase demand in the Asia-Pacific region for hydraulic excavators.

LIST OF KEY COMPANIES PROFILED:

· AB Volvo

· Alamo Group Inc.

· Astec Industries Inc.

· BEML Ltd.

· Caterpillar Inc.

· CNH Industrial NV

· Deere and Co.

· Doosan Infracore Co. Ltd.

· FAYAT SAS

· Guangxi LiuGong Machinery Co. Ltd.

· Hitachi Construction Machinery Co. Ltd.

· Hyundai Construction Equipment Co., Ltd.

· J C Bamford Excavators Ltd.

· KATO WORKS CO. LTD.

· Lonking Holdings Ltd.

· SANY Group

· XCMG Group

· Others

Key Developments:

July 2022- CSN, one of world’s biggest mining companies, chooses SANY Mining Equipment, has chosen 23 SANY SKT90S off-road trucks and three SANY SY750H excavators of SANY Mining Equipment.

November 2021- Hitachi Construction Machinery announced that their first medium-sized Hitachi ZX200-6 utility hydraulic excavator has shipped to U.S. from Japan.

July 2020- Hitachi Construction Machinery has started verification tests for the development of autonomous ultra-large hydraulic excavators for the purpose of improving future mining site safety and productivity.

SEGMENTATION

By Type

• Crawler
• Mini
• Wheeled

By Power Rating

• 0-250 HP
• 251-500 HP
• Above 501 HP

By Application

• Construction
• Mining
• Waste Management

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa