March 28, 2020

Crawler Excavator Market: Increasing Industrialization and Urbanization Is Driving the Market

According to a new market research report published by Credence Research “Global Crawler Excavator Market (Product (Standard, Hybrid, Small Trail, Super Long Front); Bucket Capacity (Small {0.30-2.00}, Medium {2.00-4.00}, Large {Above 4.00}); Application (Construction, Mining, Forestry & Agriculture) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”

The crawler excavator market is set to grow with a CAGR of 2.5% during the forecast period.

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Crawler Excavator Market

Market Insights

The increasing adoption of the advance machine and equipment along with the automated machineries is propelling the demand for the crawler excavators market. The construction companies are swiftly adopting advance automated machineries and equipment to promote the safe working conditions and safety of workers. This is encouraging the use of the crawler excavators among the construction companies for grinding, excavation and other activities.

Moreover, the advancement in the crawler excavators design and technology is further aid in the growth of the market. The advent of the hybrid crawler and excavators has led to the development of multiple new avenues for the growth of the market. Additionally, the growing construction activities across the globe are propelling the market growth.

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The construction sector accounted for more than 60% share in the crawler excavators market. The growth of the market is attributed to the wide scale adoption of the excavators for digging, grading, and earth moving applications. Furthermore, the growing adoption advance machineries across the construction sector is also estimated to augment the market growth. On the other hand, mining industry is estimated to grow substantially during the forecast period. The growth of the market is driven by the rising need of safety in the mining operations.

Asia Pacific is estimated to become the most lucrative region for the crawler excavators market with a CAGR of more than 3% during forecast period. The growth of the market is driven by the rising industrialization and urbanization in the emerging economies such as India and China. Steady economic conditions in the region are also driving the demand for the crawler excavators in the region. Moreover, the rising mining activities in the region are also developing myriad growth opportunities for the growth of the market. 

Key players in the crawler excavator market are Caterpillar, China SINOMACH Heavy Industries, CNH Industries, Deere & Company, Doosan Bobcat Inc., Hitachi Construction Machinery, Hyundai Construction Company, J C Bamford Excavators, Komatsu, Liebherr, RM-Terex, Sany Group, and Volvo Construction Equipment.

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