Earthmoving Equipment Industry To Rise As Of Growing Urban Population Demand For Leveraging Infrastructure Facilities

 Earthmoving equipment industry data book covers excavator, loader, motor grader, dumper, and dozer market.

The global earthmoving equipment industry was valued at USD 85,892.1 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.7% from 2023 to 2030. Increasing infrastructure development activities in developing countries and a rise in commercial and industrial construction activities is the primary factor expected to drive the growth of the global earthmoving equipment market. Countries such as India, China, and Australia are focused on improving the present infrastructure by initiating multiple projects related to roadway development, airport development, etc. This increasing infrastructure development activities and industrial construction projects call for heavy earthmoving equipment, such as excavators, loaders, dump trucks, etc. This machinery aids in tasks such as foundation digging, land leveling, and the transportation of heavy materials providing contractors an edge to overcome limitations pertaining to operations and time limitations.

 

Excavator Market Insights

 

The global excavators market size was valued at USD 40,006.1 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.2% from 2023 to 2030. Due to increased investments in the construction sector, particularly in growing nations like India, China, and South Korea, the Excavator industry has experienced significant growth. Excavators are pieces of hydraulic machinery with an arm-mounted bucket and an undercarriage. Global demand for excavators has increased as a result of an increase in the number of major road, port, mining, oil and gas construction projects. Another significant driving force for the excavator industry is the concept of excavator rentals, which allows manufacturers and operators to use the machinery to its fullest potential without having to make significant capital commitments.

Asia Pacific dominated the market and accounted for the largest revenue share of over 40.5% in 2022. It is expected to register the highest growth rate of 5.7% during the forecast period. The construction industry is being supported by improving economic conditions and quick infrastructure development in growing economies like China, India, and South Korea. China dominated the excavator industry owing to the presence of major manufacturers and their increasing efforts to establish new production plants.

 

Loader Market Insights

The global loader market size was valued at USD 32,963.1 million in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.1% from 2023 to 2030. Growing infrastructural developments and large number of construction projects in the developing and emerging countries are contributing to the market growth. The infrastructure developments in such regions are likely to proliferate the demand for construction equipment, such as loaders, which are widely used for moving materials and lifting heavy loads at construction sites. The loaders are used for different kinds of activities including waste handling, material handling, and demolition of buildings and infrastructure. Increasing number of redevelopment projects has increased the prospects for waste handling and the demolition segment, which is expected to boost the demand for loaders.

 

Asia Pacific dominated the market with a share of over 47.0% in 2019 and is anticipated to witness the fastest growth over the forecast period. North America is a prominent region and it plays a crucial role in the market. The growth of the region can be attributed to increasing demand for steer skid loaders in the region. Moreover, the region has a steady demand for backhoe loaders, whose sale has declined significantly in other areas, such as Europe.

 

Order your copy of the Free Sample of “Earthmoving Equipment Industry Data Book - Excavator, Loader, Motor Grader, Dumper And Dozer Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

 

Motor Grader Market insights

The global motor grader market size was valued at USD 835.4 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2023 to 2030. An increasing number of commercial, public, and residential construction projects and mining activities worldwide contribute to the uptick in motor grader demand. Favorable government investment in refurbishing existing public infrastructure and authorization to build new infrastructure, such as airports and roadways, is expected to instigate the growth of the motor grader industry within the forecast period. Major players within the motor grader industry landscape are investing in developing mechanically advanced motor graders.

Asia Pacific region accumulated revenue of over 50% in 2022 and is expected to witness significant market growth over the forecast period, showcasing dominance in the motor grader market. Improvements in economy and infrastructure growth in emerging countries like India, South Korea, and China support the construction industry due to the established foothold of large manufacturers and their ongoing efforts to create new manufacturing facilities.

 

Dumper Market Insights

 

An increase in infrastructure, residential, and commercial construction has led to a surge in demand for the construction dumper market. The rise in population and increase in demand for highways, tunnels roads and bridges coupled with high infrastructural development taking place across the major economies specifically that includes emerging economies in the Asia Pacific such as Malaysia, India, and Indonesia and Middle East countries are expected to drive the growth of the market. Moreover, the government's initiatives to provide housing for the population in the middle- and lower-income classes, the need to improve transportation infrastructure in order to expand the nation's trade routes, and other factors are expected to drive the construction dumper market's growth over the forecast period.

 

Dozer Market Insights

The government's investments in metros, real estate, highway, and rail projects are a key element fueling the expansion of the dozer market. Furthermore, the rate of real estate development is rising as a result of numerous government housing projects in developed nations. The growth of the dozer market over the forecast period will be aided by factors such as low unemployment, rising disposable income, low building costs, corporate relocations, e-commerce expansion, and an increase in the number of warehouses, distribution centers, and other commercial properties.

 

Go through the table of content of Earthmoving Equipment Industry Data Book to get a better understanding of the Coverage & Scope of the study.

 

Earthmoving Equipment Industry Data Book Competitive Landscape

 

The key strategies include strategic partnerships, collaborations, and agreements; new product development; mergers & acquisitions; and research & development initiatives. For instance, Catepillar acquires Kemper Valves and Fitting Corp. in order to expand it’s service offerings. Furthermore, the company also aims to improve cost structure, quality, reliability, delivery performance, and customer loyalty.

Key players operating in the earthmoving equipment industry are –

• Komatsu
• Hitachi Construction Machinery
• Caterpillar
• John Deere
• Volvo
• CNH