Press release
Germany Crawler Excavator Market Revenue to Hit $1.7 Billion by 2029, the Sales of the Market to Reach 35.1 Thousand Units by 2029 - Arizton
Germany Crawler Excavator Market Research Report by Arizton
To Know More, Click: https://www.arizton.com/market-reports/germany-crawler-excavator-market-opportunities-assessment-forecast
Report Summary
Market Size- Volume (2029): 35.1 Thousand Units
Market Size- Volume (2023): 29.2 Thousand Units
CAGR- Volume (2023-2029): 3.11%
Market Size- Revenue (2029): USD 1.7 Billion
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Size, Gross Power, And End Users
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In 2023, the German crawler excavator sector experienced a transitional phase marked by a downturn in building construction and geopolitical tensions. New order intake decreased notably, yet sales remained relatively stable in the market. This stability was attributed to the reduction of the significant order backlog from 2021/2022. As per September 2023, HD Hyundai Infracore Co. is establishing its directly managed European subsidiary in Germany to counterbalance the sluggish demand from financially strained Chinese developers.
Moreover, Germany has committed to investing $220 billion by 2026 to support its industrial transformation, focusing on climate protection, hydrogen technology, and the expansion of electric vehicle charging stations.
The European Commission's Green Infrastructure Strategy, introduced in 2020, aims to develop both natural and engineered systems that act as living infrastructure. This strategy promotes social, economic, and ecological growth with an emphasis on sustainable development.
In 2024, the German government approved $63 billion to combat climate change, with the objective of achieving greenhouse gas neutrality by 2045. This includes approximately $20 billion allocated to the construction sector for building renovations and new construction projects. Additionally, $13.7 billion is designated for renewable energy subsidies, and $5.1 billion is set aside for expanding the country's electric vehicle charging infrastructure.
These investments in green construction are expected to drive a significant increase in the sales of crawler excavators during the forecast period.
Germany Crawler Excavator Market Dynamics
Drivers
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Surge In Renovation & Repair Projects for Public Infrastructure
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Focus On Sustainability and Smart Cities Development
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Increased Investment in Green Fuel Solutions
Trends
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Adoption Of Building Information Modeling (BIM)
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Investment In Green Infrastructure Strategy
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Growing Demand for Mini & Small Crawler Excavators
Challenges
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Residential Slump in Germany
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Skilled Labor Shortage
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New Emission Norms Are Expected to Restrict the Use of Large Excavators
Key Highlights
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In 2023, crawler excavator uses in the construction industry accounted for the largest market share by end-users.
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In 2023, the German crawler excavator sector experienced a transitional phase marked by a downturn in building construction and geopolitical tensions. New order intake decreased notably, yet sales remained relatively stable. This stability was attributed to reducing the significant order backlog from 2021 & 2022.
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According to VDMA, construction equipment sales, including crawler excavators, are expected to decline by nearly 10% in 2024.
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In 2023, the construction sector in Germany faced difficulties due to an overall economic slowdown. Factors like increased product costs, labor shortages, and financing challenges affected the market, especially in housebuilding. The PMI index has continuously declined since April 2022, suggesting a prolonged downturn with no immediate resolution.
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Residential construction is expected to decrease by 6.0% in 2024 but recover by 3.5% in 2025 despite increased demand from Ukrainian refugees and migrants.
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Additionally, non-residential construction spending is forecasted to decrease by 2.5% in 2024 before a slight recovery of 3.0% in 2025, influenced by weaker economic growth and high costs.
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As of Sept 2023, HD Hyundai Infracore Co. is establishing its directly managed European subsidiary in Germany to counterbalance sluggish demand from financially strained Chinese developers.
Buy this Research @ https://www.arizton.com/market-reports/germany-crawler-excavator-market-opportunities-assessment-forecast
Prominent Vendors
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Caterpillar
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Komatsu
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Volvo Construction Equipment
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Hitachi Construction Machinery
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Liebherr
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JCB
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SANY
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Xuzhou Construction Machinery Group (XCMG)
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Kobelco
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Hyundai Construction Equipment
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Zoomlion Heavy Industry Science & Technology Co., Ltd.
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John Deere
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Kubota
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LiuGong
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Yanmar
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Takeuchi Manufacturing
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DEVELON
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Hidromek
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Bobcat
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Mecalac
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Wacker Neuson
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CNH Industrial
Distributor Profiles
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Thomas Baumaschinen
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Kuhn-Baumaschinen.de
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Schluter Baumaschinen GmbH
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Tecklenborg
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Werner Seemann GmbH & Co. KG
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Baumaschinen Aschauer
Market Segmentation
Crawler Excavator
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Size
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Mini Excavator
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Small Excavator
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Medium Excavator
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Large Excavator
*
Gross Power
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Less Than 60 HP
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60 HP -100 HP
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101 HP-200 HP
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Above 200 HP
End Users
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Construction
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Mining
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Agriculture
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Forestry
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Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)
Key Questions Answered in the Report:
How big is the Germany crawler excavator market?
Who are the key players in the Germany crawler excavator market?
What are the trends in the Germany crawler excavator market?
Who are the key players in the Germany crawler excavator market?
Which are the major distributor companies in the Germany crawler excavator market?
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About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Media Contact
Company Name: Arizton Advisory & Intelligence
Contact Person: Jessica
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