Crawler Excavator Market Growth, Analysis & Forecast, 2020–2027 | Key Drivers, Restraints and Opportunities

A crawler excavator is a tracked vehicle used to dig, move, or grade large objects from the ground. These vehicles usually comprise of a loader bucket attached at the front which is used for grading, digging, and earth-moving. They consist of components such as rotor support, crawler chassis, turntables, cab, central swivel joints, panel, and air-conditioners. There are many types of excavators available like walker, wheeled, rail, towed, and more.

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The attachments of the excavators can be replaced with others depending on the application and requirement. They are provided with crawler type wheels that have a chain wrapped over the wheels to improve the traction during operation. These vehicles have major application in industries like construction, mining, agriculture, and others.

COVID-19 Scenario analysis:

COVID-19 pandemic has shut-down the production of various products in the crawler excavator industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of crawler excavator market significantly from last few months, as is likely to continue during 2020.

COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.

The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.

Drivers, restraints, and opportunities

Surge in construction and mining activities worldwide are the major factors that are expected to drive the growth of the crawler excavator market in the upcoming years. Besides, features of crawler excavators like suitable for muddy conditions, capacity to carry huge weights, and more can potentially fuel the growth of the crawler excavator market for the next few years.

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Geographic Review

North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, Italy, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa)

Key Segments

By Product Type

Standard
Hybrid
Small trail
Others

By Application

Construction
Mining
Agriculture
Forestry
Others

By Capacity

Small
Medium
Small trail

Key Players

Major players analyzed include BEML, Deere & Company, Hitachi Construction Machinery, Caterpillar, JCB, Komatsu, Sany Heavy Industry, Liebherr International, Volvo Construction Equipment, and Terex, Kubota.

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