Excavators Market Size:
The Excavators Market is expected to grow from US$64.384 billion in 2025 to US$81.434 billion in 2030, at a CAGR of 4.81%.
Excavators Market Trends:
Excavator is one of the major machines used in the building and construction industry for a wide range of applications including excavating, moving construction material, and removing debris among others. The demand for excavators is witnessing significant growth due to rising investment in the construction industry in major developing economies. Simultaneously, the rising number of construction orders for residential and commercial buildings in the developed regions, on account of aging structures in these sectors, will add to the growing demand for excavators. Rising investments into research and development by major market players, in order to develop and market state-of-the-art equipment and boost the company’s growth, will augment the demand for excavators over the next five years.
By end-user, the excavator market is segmented as residential, commercial, and industrial. Industrial and commercial segments together account for the largest share in this market on account of an increasing number of huge projects in these sectors worldwide. However, the market in the residential sector is expected to witness impressive growth over the projected period and this growth will majorly be attributed to rapidly growing urbanization and the rising number of vast housing projects in many regions across the globe.
By geography, the excavators market is segmented as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The market in the Asia Pacific region holds the largest share on account of huge investments streaming into infrastructure development and the residential sector. Europe and North America also hold a significant share in this market. Regions like the Middle East and Africa, and South America hold a relatively small share in this market.
Excavators Market Drivers:
- Growing infrastructure spending in many regions
- Rising investments into research and development by major market players
Excavators Market Restraint:
- Long working life span of excavators
The major players profiled in the Excavators market include
Caterpillar, Komatsu Ltd, AB Volvo, Hitachi Construction Machinery Co., Ltd., Liebherr, Hyundai Construction Equipment, Terex Corporation, and among others.
Excavators Market Scope:
| Report Metric |
Details |
| Study Period |
2021 to 2031 |
| Historical Data |
2021 to 2024 |
| Base Year |
2025 |
| Forecast Period |
2026 – 2031 |
| Report Metric |
Details |
| Excavators Market Size in 2025 |
US$64.384 billion |
| Excavators Market Size in 2030 |
US$81.434 billion |
| Growth Rate |
CAGR of 4.81% |
| Study Period |
2020 to 2030 |
| Historical Data |
2020 to 2023 |
| Base Year |
2024 |
| Forecast Period |
2025 – 2030 |
| Forecast Unit (Value) |
USD Billion |
| Segmentation |
- Type
- Customer Type
- End-User
- Geography
|
| Geographical Segmentation |
North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in the Excavators Market |
- Caterpillar
- Komatsu Ltd
- AB Volvo
- Hitachi Construction Machinery Co., Ltd.
- Liebherr
|
| Customization Scope |
Free report customization with purchase |
Segmentation
The excavators Market has been analyzed through the following segments:
- By Type
- Crawlers and Wheel-Based
- Mini Excavators
- By Customer Type
- Regular Customers
- Rental Companies
- By End-User
- Residential
- Commercial
- Industrial
- By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Europe
- UK
- Germany
- France
- Italy
- Others
- Middle East and Africa
- Asia Pacific
- Japan
- China
- India
- Australia
- Other
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