Digger Machinery Market Forecast and CAGR
According to latest research by Fact.MR, digger machinery market is set to witness steady growth during 2021-2031. Demand for digger machinery will witness steady recovery in short-term, with optimistic growth outlook in the long-run. Mounting infrastructure spending across globe is likely to propel digger machinery market during forecasted period.
What is Driving Demand for Digger Machinery?
Whetherit is wide area soil extraction or lifting heavy amount of soil, digger machines are playing their role effectively and efficiently. These machines feature various parts such as hydraulic arm, movable tracks or tires, rotating carb, and bucket. Their superiority in mobility and digging allows them to perform variety of tasks such as digging holes and trenches, making hole to lift away heavy weight etc. Evolving end-user demand for lightweight and high-performancedigger machinery continues to drive the market. Construction applications will continue to be a lucrative sector for manufacturers.
Global mining industry is experiencing surge with increased extended mineral portfolio such as Lithium, chromium, Bauxite etc. for the various end use industries. This spike in demand resulted in expanding mining production output. This development is likely to be optimistic for digging machinery market over the assessment period.
Who are the Key Manufacturers and Suppliers of Digger Machinery?
Some of the leading manufacturers and suppliers of digger Machinery include
- Deere & Company
- Komatsu Ltd
- VOLVO Construction Equipments
- Kobelco Construction Machinery Co. Ltd.
- Doosan infracore
- Hitachi Construction Machinery Co Ltd.
- Hyundai Construction Equipment Co. Ltd.
The digger machinery market is fragmented, and manufacturers are focusing on developing new innovations to stay ahead of the competition and grow their market shares.
Geographical Outlook of Global Digger Machinery Market
North America, Latin America, Europe, East Asia, South East Asia & Oceania, and MEA are the six main regions covered by the digger machinery market. Because of its early technological growth and adoption rate, North America is expected to be a prominent area amongst them. Its developed infrastructure and mining industry has contributed in historical growth of digger machinery market. Highly technological input in its agriculture, forestry and landscaping industry will provide further momentum for growth in the region.
Europe matured Building and construction industryis likely to provide marginal growth for machines. High disposable income of population will fuel the demand for small digging machines for landscaping purpose. As the region is moving towards building sustainable infrastructure, this new horizon is expected to bring positive outlook for the target market.
COVID-19 Impact Outlook for Digger Machinery Market
Globally, Covid-19 pandemic lockdown restrictions resulted in non-movement of man and materials. Across the globe manufacturing sector was down, thus digger machinery market suffered loss.
Globally to curb the spreading pandemic under the strict lockdown infrastructure development was at halt and the construction industry was down. The developed global north and the developing global south saw a decline in their construction activities. Digger machinery find its large spool of share in the construction industry thus the demand for the instrument saw a plunge.
Similarly, the industries such as mining, forestry and agriculture which comprises of significant share in the global market was also under stress. The industry saw decline in the activities across the regions which resulted in the demand drop. On the similar grounds the manufacturing industries were under lockdown and the manufacturing was disrupted which created the void from supply side.
By Equipment Type
- Mini excavators
- Tracked Excavators
- Wheeled Excavators
- Long Reach Excavators
By Power Output
- Below 25 HP
- 75 HP – 125 HP
- 125 HP – 175 HP
- 175 HP – 225 HP
- Above 225 HP
By End-use Industry
- Oil & Gas
- Forestry & Landscaping
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.
US Sales Office:
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583