Construction equipments include all equipments required in any construction work. Global construction equipment market outlook remained negative in the past few years resulting from the lower demand in North America and Europe regions. However, the market is expected to grow in future supported by increased infrastructure investments in North America & Asia regions.
Excavator market is one of the major segments of construction equipment market. Excavators are used in moving and digging large and heavy objects. A huge range of excavators is available in the market with different sizes and functions. Excavators are generally categorized into two types; crawler excavator and wheeler excavator. Crawler excavator runs on two infinite tracks and used in hilly areas whereas, wheeler excavator runs on wheels and used on plain grounds.
The global excavators market is expected to grow in future due to increasing urbanization, rising construction expenditure and increased global GDP. Key trends of this market include high demand in fuel efficient excavator, launch of new products, rising demand in high efficient hydraulic fluid. However, there are some factors which can hinder the market growth including stringent emission norms and high maintenance of hydraulic excavators.
The hydraulic excavator is most commonly used for digging rocks and soil, but with its many attachments it can also be used for cutting steel, breaking concrete, drilling holes in the earth, laying gravel onto the road prior to paving, crushing rocks, steel, and concrete, and mowing landscapes. The demand for hydraulic excavators is likely to increase in the coming years as a result of rising construction in commercial as well as residential sectors globally.
The report “Global Excavators Market with Focus on Hydraulic Excavator: Industry Analysis & Outlook (2017-2021)” by Koncept Analytics, provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers and challenges of the market, covering the North America, Europe, Asia regions along with the global market. The report profiles the key players of the market including Caterpillar, Hitachi, Komatsu and Terex.