The Latest Excavator Industry Statistics Explained
The global construction equipment market size, including excavators, was valued at $105.6 billion in 2020.
The statistic indicates that in 2020, the total market size for construction equipment, specifically including excavators, was estimated to be $105.6 billion globally. This figure represents the value of sales or revenues generated by companies involved in manufacturing, distributing, and selling construction equipment such as excavators on a global scale during the specified year. This statistic serves as an important indicator of the size and significance of the construction equipment industry, reflecting the demand for such equipment and the overall level of activity within the construction sector worldwide in 2020.
The expected CAGR (Compound Annual Growth Rate) for the construction equipment market, including excavators, from 2021-2028 is 3.7%.
The expected CAGR (Compound Annual Growth Rate) of 3.7% for the construction equipment market, specifically for excavators, from 2021 to 2028 implies that on average, the market is anticipated to grow at a rate of 3.7% per year over this period. This statistic provides insight into the projected level of growth and performance of the construction equipment industry, particularly in the excavator segment, over the next seven years. It suggests that the market is expected to expand steadily at a moderate pace, with the potential for increased demand and investment in construction equipment during this timeframe.
The total revenue for Worldwide Construction Machinery (including excavators) was approximately $139 billion in 2018.
The statistic indicates that the total revenue generated by Worldwide Construction Machinery, which includes excavators, amounted to approximately $139 billion in the year 2018. This figure serves as a key indicator of the financial performance and scale of the construction machinery industry on a global scale during that specific year. The significant revenue generated highlights the robust market demand for construction machinery, including excavators, and suggests a thriving industry with a high level of economic activity and investment. This statistic can be instrumental for stakeholders such as investors, policymakers, and industry analysts in evaluating the performance and trends within the construction machinery sector.
The excavator market size in Europe was valued at more than $5.5 billion in 2019.
The statistic indicates that the excavator market in Europe was estimated to be worth over $5.5 billion in 2019. This figure represents the total value of excavators sold or in use within the European market during that year. The market size reflects the demand for excavators in the region, which can be influenced by factors such as construction activity, infrastructure projects, and economic conditions. A valuation of $5.5 billion suggests a significant market for excavators in Europe, highlighting the importance of this equipment in various industries such as construction, mining, and agriculture.
The market for mini excavators is expected to grow at a CAGR of 4% between 2020 and 2026.
This statistic signifies that the market for mini excavators, which are compact construction machines used for digging and excavation purposes, is projected to experience a Compound Annual Growth Rate (CAGR) of 4% between the years 2020 and 2026. This growth rate indicates a steady increase in demand for mini excavators over the specified period. A CAGR of 4% implies that the market size for mini excavators is expected to expand by approximately 4% each year on average during this timeframe. Factors such as infrastructure development, construction activities, and technological advancements in the construction industry may be driving this growth in the mini excavator market.
China accounted for more than 50% of the overall excavator market share in the Asia Pacific in 2019.
The statistic indicates that in 2019, China held a dominant position in the excavator market within the Asia Pacific region, capturing over half of the market share. This suggests that China’s demand for excavators was substantial compared to other countries in the region. Factors such as infrastructure development, construction projects, and economic growth in China likely contributed to its significant market share. The statistic highlights China’s influence and dominance in the excavator industry in the Asia Pacific region during the specified year.
It is forecasted that by 2028, the approximate number of construction machines, including excavators, sold worldwide, will be 1.1 million.
The statistic indicates a forecasted estimate for the year 2028, suggesting that approximately 1.1 million construction machines, including excavators, are expected to be sold globally. This data point is crucial in assessing the potential growth and demand within the construction industry. The projected number of machines sold may serve as an indicator of expected construction activity and investments in infrastructure projects around the world. It could also have implications for equipment manufacturers, distributors, and other stakeholders in the construction machinery market in terms of production planning, supply chain management, and market positioning strategies.
The expected revenue of the world’s major construction & mining equipment manufacturer, Caterpillar, will be near $50 billion in 2021.
The statistic stating that the expected revenue of Caterpillar, one of the world’s major construction and mining equipment manufacturers, will be close to $50 billion in 2021 indicates a significant financial forecast for the company for the upcoming year. This estimate suggests that Caterpillar is anticipated to generate substantial revenue from its operations in the construction and mining equipment industry, showcasing its market strength and potential growth prospects. The figure of $50 billion reflects the company’s robust performance and market demand for its products and services, positioning Caterpillar as a key player in the global construction and mining equipment sector.
The market for hydraulic excavators is expected to reach a value of $23.3 billion by 2026.
The statistic indicates that the market for hydraulic excavators is projected to grow significantly, with an estimated value of $23.3 billion by the year 2026. This suggests a substantial increase in demand for hydraulic excavators, likely driven by factors such as infrastructure development, construction projects, and the need for efficient earthmoving equipment. The growth forecast highlights potential opportunities for manufacturers, suppliers, and stakeholders in the hydraulic excavator market to capitalize on this trend and strategize accordingly to meet the anticipated demand and leverage the potential market size in the upcoming years.
India is expected to grow at the fastest rate in the excavator market from 2020-2026.
The statistic suggests that India is projected to experience the highest growth rate within the excavator market between the years 2020 and 2026. This growth indicates an increasing demand for excavators in the Indian market, likely driven by factors such as infrastructure development, construction projects, and industrial expansion. The fast pace of growth in India’s excavator market may be influenced by economic trends, government policies, and investment in construction and infrastructure projects, positioning India as a key market for excavator manufacturers and suppliers looking to capitalize on the growing demand for construction equipment in the country.
The global excavator market size was estimated at USD 40.54 billion in 2019.
The statistic indicates that in 2019, the global market for excavators was valued at approximately USD 40.54 billion. This figure represents the total value of excavator sales worldwide during that year. Excavators are heavy construction equipment used for digging and earthmoving purposes in various industries such as construction, mining, and agriculture. The market size serves as a key indicator of the demand for excavators across different regions and provides insights into the overall economic activity and investment in construction projects globally. This statistic is significant for industry stakeholders, policymakers, and investors to understand the current market trends and make informed decisions regarding future developments and investments in the excavator industry.
The global excavator market size is expected to hit USD 62.2 billion by 2026.
The statistic “The global excavator market size is expected to hit USD 62.2 billion by 2026” indicates that market analysts predict a significant growth in the global market for excavators, which are heavy construction equipment used for digging and earthmoving purposes. The projected value of USD 62.2 billion by 2026 suggests a substantial increase in demand for excavators worldwide, likely driven by factors such as infrastructure development, urbanization, and construction projects. This statistic serves as a key indicator for industry stakeholders, investors, and decision-makers to anticipate and capitalize on the growing opportunities in the excavator market over the coming years.
North America Excavator market is expected to grow at a CAGR of over 3% from 2020-2026.
The statement indicates that the North America excavator market is forecasted to experience a Compound Annual Growth Rate (CAGR) of over 3% between the years 2020 and 2026. This means that the market is anticipated to steadily increase at a rate of at least 3% annually over this period. The growth rate reflects the expected expansion and stability of the excavator market in North America, suggesting a positive trend in demand for excavators in the region over the specified time frame.
Electric and hybrid excavator sales are expected to rise by 10% between 2022 and 2025.
The statistic suggests that sales of electric and hybrid excavators are projected to increase by 10% from 2022 to 2025. This growth trend indicates a growing consumer interest and adoption of more environmentally friendly construction equipment options. The rise in sales could be driven by various factors such as increasing awareness of the benefits of electric and hybrid excavators, government incentives supporting sustainable practices in the construction industry, and improvements in the technology and efficiency of these machines. The anticipated growth in sales reflects a positive trend towards the use of cleaner and more sustainable equipment in the construction sector.
The global market for electric excavators is expected to reach a volume of 46.7 thousand units by 2027.
The statistic “The global market for electric excavators is expected to reach a volume of 46.7 thousand units by 2027” indicates a projected significant growth in the demand for electric excavators in the global market over the next few years. This forecast suggests an increasing shift towards sustainable and environmentally friendly practices within the construction and mining industries, driving the adoption of electric excavators. The anticipated surge in the volume of electric excavators signifies a growing emphasis on reducing carbon emissions and transitioning towards cleaner energy sources. This statistic highlights a promising market opportunity for manufacturers, suppliers, and other stakeholders within the electric excavator industry to capitalize on this upward trend and meet the rising demand for eco-friendly construction equipment.
The Middle East and Africa region is expected to showcase a CAGR of 7.3% in the excavator market from 2019-2024.
This statistic indicates that the Middle East and Africa region is projected to experience a Compound Annual Growth Rate (CAGR) of 7.3% in the excavator market between 2019 and 2024. A CAGR of 7.3% suggests that the market for excavators in this region is anticipated to grow at a steady rate over the specified time period. This growth rate reflects the expected increase in demand for excavators in various industries such as construction, mining, and infrastructure development within the Middle East and Africa region. The CAGR is a useful metric for understanding the annual growth trend of a market and can provide insights into the potential opportunities for businesses operating in the excavator industry in this region.
The global construction machinery market (including excavators) is projected to grow to around 140 billion U.S. dollars by 2026.
The statistic indicates that the global construction machinery market, which encompasses a range of equipment such as excavators used in construction projects, is forecasted to reach a total value of approximately 140 billion U.S. dollars by the year 2026. This projection suggests a significant growth trend in the industry, reflecting potential increased demand for construction machinery across various sectors worldwide. Factors driving this anticipated expansion may include infrastructure development projects, urbanization trends, technological advancements leading to more efficient and advanced machinery, and overall economic growth stimulating construction activities. The statistic points to a positive outlook for the construction machinery market in the coming years, with opportunities for manufacturers, suppliers, and other stakeholders operating in this sector.
The global crawler excavator market size was USD 19.50 billion in 2018.
The statistic “The global crawler excavator market size was USD 19.50 billion in 2018” represents the total estimated value of sales generated by crawler excavators worldwide during the year 2018. Crawler excavators are heavy-duty construction equipment used for digging and earthmoving activities in various industries such as construction, mining, and agriculture. The market size figure of USD 19.50 billion indicates the economic significance and scale of the global crawler excavator industry in 2018, reflecting the demand for these machines and the overall health of the construction and related sectors during that period. This statistic is crucial for stakeholders in the industry, including manufacturers, suppliers, investors, and policymakers, as it provides valuable insights into the market’s size and potential growth opportunities.
24.8% of the global excavator market share is expected to be held by the Asia Pacific in 2027.
The statistic ‘24.8% of the global excavator market share is expected to be held by the Asia Pacific in 2027’ indicates that approximately a quarter of the market for excavators worldwide is projected to be dominated by countries in the Asia Pacific region by the year 2027. This figure suggests a significant presence and influence of Asia Pacific countries in the excavator industry, highlighting the region’s growing importance and market power within the global economy. Factors such as rapid urbanization, infrastructure development, and increased construction activity in Asia Pacific nations may contribute to this anticipated market share growth.
The global mini excavator market is expected to register a CAGR of about 2% during the forecast period, 2020-2025.
The statement indicates that based on market research and projections, the global mini excavator market is anticipated to experience a Compound Annual Growth Rate (CAGR) of approximately 2% over the period spanning from 2020 to 2025. This suggests a gradual, steady increase in market size and demand for mini excavators at an average annual rate of 2% during the specified timeframe. Factors such as technological advancements, infrastructure development projects, and increasing construction activities may contribute to this projected growth in the mini excavator market.
Conclusion
Understanding Excavator industry statistics can provide valuable insights into market trends, competitive landscape, and potential growth opportunities. By analyzing data on sales, production, and market share, businesses in the excavator industry can make informed decisions to stay ahead of the competition and drive future growth.
References
0. – https://www.www.statista.com
1. – https://www.www.researchandmarkets.com
2. – https://www.www.fortunebusinessinsights.com
3. – https://www.www.acumenresearchandconsulting.com
4. – https://www.www.globenewswire.com
5. – https://www.www.mordorintelligence.com
6. – https://www.www.gminsights.com
7. – https://www.www.grandviewresearch.com
