WorldWide Earthmoving Equipment Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 - 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Earthmoving Equipment Market

Industry / Sector Trends

Earthmoving Equipment Market size was USD 104.97 billion in 2015 with revenue estimates of USD 192.45 billion by 2023, at 7.9% CAGR. Increasing transport infrastructure development worldwide and favorable government initiatives is expected to drive growth.
 

India earthmoving equipment market size, by application, 2012 - 2023 (USD Billion)
 

Technological focus has led to a significant number of development initiatives and superior equipment. Major technological developments such as real-time monitoring facilities for detecting as well as monitoring system failure are forecast to propel demand. Growing adoption in the commercial sector will also favorably impact revenue.
 

Multifunctional machinery has witnessed considerable adoption over the recent past, and provides several advantages over traditional or single function counterparts. These include reduce time and labor, as well as high degree of efficiency and productivity.

Growing large scale construction projects along with enhancement in after-sales services are among other key drivers.
 

High capital and operating expenditure may restrain growth. Unpredictable raw material cost, uncertainty in economic conditions, and the presence of emission control regulations are factors responsible for impacting the global earthmoving equipment market price trend.
 

Market Segmentation, Outlook & Regional Insights: Earthmoving Equipment Market

 Earthmoving Equipment Market, By Application

Construction is forecast to remain the leading application, with over 60% of the earthmoving machinery market share in 2015.
 

Underground mining equipment include hydraulic shovels, long wall mining equipment, cable shovels, etc.

Other mining equipment includes mineral processing machinery, surface machinery, pulverizing & screening equipment, and crushing, drills & breakers. Demand across these sectors is predicted to boost earthmoving equipment market size. Global surface mining equipment market is predicted to exceed USD 29 billion by 2023.
 

Earthmoving Equipment Market, By Product

Excavators are forecast to grow at 9% CAGR over the forecast timeframe. They are used in below ground and surface level operations, such as trench digging, well sinking, and land traveling. Loaders comprise skid loaders, backhoe or diggers, etc. Backhoe loaders find application across construction projects, mainly due to their small size and versatility. They help in executing tasks including small demolitions, powering building machinery, digging, excavation, construction, paving roads, as well as building material transportation.
 

Increasing demand in manufacturing facilities and factories is expected to catapult excavator segment growth. Increasing affinity by end-users to obtain earth moving equipment on lease or rent is a growing trend. Increasing availability of lease-based machinery has spurred adoption on a global scale. The construction equipment rental market is forecast to surpass USD 85 billion by 2023.
 

Earthmoving Equipment Market, By Region

U.S. earthmoving equipment market size exceeded USD 12 billion in 2015.
 

Increasing mechanization of construction processes coupled with strong economic growth is anticipated to boost the Asia Pacific industry demand. Increasing spending in infrastructure activities may also escalate demand, with 8.3% CAGR estimates.
 

Industry players prioritize lower price points as opposed to high energy efficiency in price sensitive regions. They also aim to reduce production cost and meet emission regulations.
 

Europe earthmoving equipment market share is predicted to remain steady, with revenue projected at over USD 43 billion by 2023.
 

Key Players, Recent Developments & Sector Viewpoints: Earthmoving Equipment Market


Investment in technology, innovation and R&D are the key growth strategies employed to address changing customer requirements. Competitors aim at providing product differentiation as the customer loyalty depends on competitive pricing, quick delivery and after-sales technical support.
 

Global earthmoving machinery market share is consolidated in nature. Major companies include Caterpillar, Volvo, Komatsu, Liebherr, Hitachi, Doosan, John Deere, etc.
 

Intense competition between global and emerging participants coupled with rising demand for advanced technology have forced small operators to form strategic alliances with the major players.
 

Rental companies have enabled contractors to complete specific job requirements with greater cost control and flexibility. Rising trend towards usage of used heavy machinery across several countries is expected to prove as a threat to the new products that are to be launched in the industry.
 

Key Insights Covered: Exhaustive Earthmoving Equipment Market
1.  Market size (sales, revenue and growth rate) of Earthmoving Equipment industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Earthmoving Equipment industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Earthmoving Equipment industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Earthmoving Equipment industry.

Research Methodology: Earthmoving Equipment Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.