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Excavator Market Growth 2023- Industry Research, Size, Share, Future Scope, Growth Opportunity Forecast To 2032
Excavator Market
Excavator Market Size, Growth Rate, And Forecast
The global excavator market size is expected to grow from $47.74 billion in 2022 to $50.14 billion in 2023 at a compound annual growth rate (CAGR) of 5.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The excavator market size is expected to grow to $59.98 billion in 2027 at a CAGR of 4.6%.
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Excavator Market Drivers
The growing construction industry across the globe is contributing to the growth of the excavator market. The construction industry refers to the industrial division of production and trade that is concerned with the construction, repair, renovation, and maintenance of infrastructure. The construction industry uses an excavator as it offers advantages such as easily navigating rough terrain, being highly versatile, and being able to be transported easily and efficiently.
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Excavator Market Segments
1) By Type: Mini/ Compact Excavator, Crawler Excavator, Wheeled Excavator, Other Type
2) By Operating Weight: Upto 50K Kg, 51K to 75K Kg, 76K Kg and Above
3) By Mechanism Type: Electric, Hydraulic, or Hybrid
4) By Power Range: 0-300 BHP, 300-500 BHP, and 500 And Above
5) By End-Use Industry: Construction, Forestry And Agriculture, Mining and Other End-Use Industries
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Excavator market.
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Excavator Market Key Players
Major competitors in the Excavator market include Caterpillar Inc., Hitachi Construction Machinery Company Limited, Hyundai Heavy Industries Company Limited, JCB Limited, Komatsu Limited, Volvo Construction Equipment, Liebherr Group, Kobelco Construction Machinery Company Limited
The Table Of Content For The Excavator Market Include:
1. Executive Summary
2. Excavator Market Characteristics
3. Excavator Market Trends And Strategies
4. Excavator Market - Macro Economic Scenario
5. Excavator Market Size And Growth
……
27. Excavator Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Excavator Market
29. Excavator Market Future Outlook and Potential Analysis
30. Appendix
The Business Research Company's "Global Excavator Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
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