Press release
Earthmoving Equipment Market| Top Companies | Regional Scope, Segment Growth, Revenue Statistics | Industry Share Forecast
The global earthmoving equipment market size was USD 69.85 billion in 2018 and is projected to reach USD 84.24 billion by 2026, exhibiting a CAGR of 2.4% during the forecast period.
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Widening Service Offerings by OEMs to Elevate Market Potential
In a bid to enhance customer experience, Original Equipment Manufacturers (OEMs) are adopting different strategies to gain firm ground in this market, according to the earthmoving equipment market analysis. The most preferred strategies taken up by OEMs include constant improvement in operations, developing advanced machinery, and offering better and efficient after-sales services to customers. While in developing regions companies are competing over price, in developed nations competition is mainly based on delivering high-quality products and services that will benefit consumers in the long-run.
Key Industry Players:
Hyundai Heavy Industries Co. Ltd
J.C. Bamford Excavators Limited
AB Volvo
Doosan Infracore Co. Ltd
SANY America
Liebherr Group
Hitachi Construction Machinery Co. Ltd
Caterpillar Inc.
MARKET DRIVERS
The earthmoving machinery market growth across the globe is dominated by the players such as Caterpillar, Hitachi, Komatsu, Volvo Group, and SANY America. Considering the demands of the end-users, these companies are indulged in incorporating various business strategies that are used to enhance the customer experience.
Currently, it has been observed that the end-users across the developing countries, frequently prioritize on price in making investment decisions, while customers in developed economies generally prefer the productivity and other performance criteria to lower owning and operating costs over the lifetime of the machine.
In order to target the developed and the developing economies, these companies are emphasizing on developing products in accordance with customer-driven innovations that would enable the manufacturers to compete in the Earthmoving equipment market.
The Report Covers the Following, Major Points Precisely:
Top Players That Are Operating in the Global Market
• Market Segmentation
• Regional Analysis
• Deep Insights into the Market with Detailed Table of Content and Figures
• Global Market Predictions for Five Decades.
One of the primary forces driving the growth of this market is the rising investment and energy in infrastructure development across the globe. According to the World Infrastructure Congress, global expenditure on infrastructure will touch USD 9 trillion by 2025. A study by Oxford Economics estimates that the world will need to invest around USD 94 trillion between 2016 and 2040 to meet the demands of an ever-increasing world population.
This means, on average, infrastructure development will require an annual investment of USD 3.7 trillion till 2040. These numbers bode well for the earthmoving equipment market growth as rapid industrialization and urbanization, especially in developing nations, will ramp up the demand for heavy earth-moving machinery.
Stiff Competition to Energize Market Dynamics
Major companies are doubling down their investment in developing innovative products and introducing new-age technologies such as Internet of Things and Machine Learning. Furthermore, many companies are looking to entrench their position in this market through setting up of new plants and offering novel solutions to customers.
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Market Segmentation of Earthmoving Equipment Market -
By Equipment Type
Excavators
Mini Excavator
Crawler Excavator
Wheeled Excavator
Others (Dragline, Long Reach, etc.)
Loaders
Skid Steer
Backhoe
Wheeled
Crawler/ Track
Mini Loaders
Dump Trucks
Articulated Trucks
Rigid Trucks
Others (Dumpers, Motor Graders, etc.)
By Industry
Mining
Construction
Agriculture & forestry
Others (Oil & Gas, etc.)
3 .By Region
North America (U.S. and Canada)
Europe (U.K., Germany, France, and the Rest of Europe)
Asia Pacific (Japan, China, India, Southeast Asia, and the Rest of Asia Pacific)
Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)
Latin America (Brazil, Mexico, and the Rest of Latin America)
The major strategies that the OEMs inculcate for uplifting the production and sales of the construction equipment are as follows -
Developing next-generation machinery
Investing in Operational Excellence
Offer aftermarket services
Owing to the manufacturers implicit efforts to reach out to the maximum end-users across North America, the impact of this driver is anticipated to be high over the long-term period.
Table of Content -
Introduction
Definition, By Segment
Research Approach
Sources
Executive Summary
Market Dynamics
Drivers, Restraints and Opportunities
Emerging Trends
Key Insights
Macro and Micro Economic Indicators
Consolidated SWOT Analysis of Key Players
Porter's Five Forces Analysis
Global Earthmoving Equipment Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
Market Size Estimates and Forecasts
By Equipment Type (Value)
Excavators
Mini Excavator
Crawler Excavator
Wheeled Excavator
Others (Dragline, Long Reach, etc.)
Loaders
Skid Steer
Backhoe
Wheeled Excavator
Crawler/ Track
Mini Loaders
Dump Trucks
Articulated Trucks
Rigid Trucks
Others (Dumpers, Motor Graders, etc.)
By Industry (Value)
Mining
Construction
Agriculture & forestry
Others (Oil & Gas, etc.)
By Geography (Value)
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
North America Earthmoving Equipment Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
By Equipment Type (Value)
Excavators
Mini Excavator
Crawler Excavator
Wheeled Excavator
Others (Dragline, Long Reach, etc.)
Loaders
Skid Steer
Backhoe
Wheeled Excavator
Crawler/ Track
Mini Loaders
Dump Trucks
Articulated Trucks
Rigid Trucks
Others (Dumpers, Motor Graders, etc.)
By Industry (Value)
Mining
Construction
Agriculture & forestry
Others (Oil & Gas, etc.)
By Country (Value)
United States
Canada
TOC Continued…!!!
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