Excavation Equipment Market Forecast and CAGR

According to the latest research by Fact. MR., the excavation equipment market is expected to show consistent growth during 2021-2031. In the short term, the demand for excavation equipment will witness substantial growth owing to the growing end-uses and will show a positive outlook in the long run. Additionally, the widespread use of construction equipment in construction projects augments the demand for excavation equipment.

What is Driving Demand for Excavation Equipment?

Excavation equipment are specially designed machinery used to perform various construction operations. Tractors, bulldozers, power shovels, scrapers, backhoe are the most used equipment in construction sites.

In addition, the option for a different type of excavation equipment specially designed for particular work made an impact on overall market demand. There is equipment specially made for every step for construction projects which includes projection initiation and completion.

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Likewise, a Rock hammer used to remove rock from sites, the task can be very time-consuming and labour intensive but the equipment made the work easy and convenient. Compacting and grading equipment used for slope and shape of construction land (basically used for increasing soil density of the land. This process may include the uses of a motor grader and grade trimmer.

One of the most preferring heavy equipment for construction is a bulldozer. The equipment is known as the monster of the excavation industry. Pushes large piles of dirt or breaks up huge boulders are the common uses of bulldozers. Most of the congested construction sites are witnessing more uses of bulldozers along with other excavation equipment.

Key Segments

By Product

• Bulldozers
• Dump Trucks
• Excavators
• Graders
• Loaders
• Truck & Trailers
• Forklift & Telehandlers
• Power Shovels
• Others

By Application

• Construction
  • Commercial Buildings
  • Pipeline

• Road building
• others

• Mining
• Solid waste
• Defense
  • Road construction
  • Bridges construction
• Other military engineering works

By Region

• North America
  • US & Canada
• Latin America
  • Brazil, Mexico, Others
• Western Europe
  • EU5
  • Nordics
  • Benelux
• Eastern Europe
• Asia Pacific
  • Australia and New Zealand (ANZ)
  • Greater China
  • India
  • ASEAN
  • Rest of Asia Pacific
• Japan
• Middle East and Africa
  • GCC Countries
  • Other Middle East
  • South Africa
  • Other Africa

Who are the Key Manufacturers and Suppliers of Excavation Equipment?

Some of the leading manufacturers and suppliers of excavation equipment include

• Excavation Equipment Pty Ltd
• Caterpillar
• SANY
• Hitchi
• Komtsu
• Volvo Deere & Company
• Liebherr
• JCB
• Hydrema
• Other

Witnessing the wide array of end uses there is a numerous number of manufacturers dealing in the global market. The market is highly consolidated in nature and leading players among the market adopting the organic and inorganic strategy to capture most of the market demand. Some of the manufacturers are facing a challenge with maintaining price with quality, the equipment with high quality and less price is in demand.

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