Excavators are heavy construction equipment, which are mainly used in moving and digging large and heavy objects. It is considered as a major segment of construction equipment market. Excavators are also used for heavy lifting, material handling, demolition, landscaping and river dredging. 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.
Excavators are versatile and can be used to break the ground, drill and drag rocks and lift loose debris away from the excavation point. There are several types of excavators available in the market, exhibiting minor manufacturer differences. 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 global excavators market is expected to grow in future due to increasing urbanization, rising construction expenditure, and improving economy. Key trends of this market include high demand in the fuel-efficient excavator, rapid technological advancements, use of IoT in construction, increasing demand from the rental market and rising adoption for other applications. However, there are some factors which can hinder the market growth including stringent emission norms and high maintenance of hydraulic excavators.
The report “Global Excavator Market with Focus on Hydraulic Excavator: Industry Analysis & Outlook (2018-2022)” 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 North America, Europe, Asia and China region along with the global market. The report profiles the key players of the market including Caterpillar, Hitachi, Komatsu, and Terex.