Press release
Earthmoving Equipment Market to Grow at 2.01% CAGR from 2024 to 2030
The global ๐๐๐ซ๐ญ๐ก๐ฆ๐จ๐ฏ๐ข๐ง๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ is experiencing significant growth, driven by ongoing advancements in construction, mining, and infrastructure projects. As industries evolve and economies expand, demand for advanced machinery, including backhoes, excavators, bulldozers, and loaders, continues to rise. According to the latest market research report, the earthmoving equipment market is projected to grow at a CAGR of 2.01% from 2023 to 2030, reaching a market size of US$ 97.60 Bn.by the end of the forecast period.๐๐๐ซ๐ญ๐ก๐ฆ๐จ๐ฏ๐ข๐ง๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
๐๐๐ซ๐ค๐๐ญ ๐๐ข๐ณ๐: US$ 97.60 Bn. by 2030
๐๐๐๐: 2.01% (2023-2030)
๐๐๐ฒ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ: Urbanization, infrastructure development, mining, and construction activities.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐๐๐ญ๐ ๐๐ง๐ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ฒ ๐ฏ๐ข๐๐ฐ๐ข๐ง๐ ๐ญ๐ก๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ @https://www.maximizemarketresearch.com/request-sample/123477/
๐๐๐ฒ ๐๐๐๐๐ง๐ญ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐๐ซ๐ญ๐ก๐ฆ๐จ๐ฏ๐ข๐ง๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ:
Technological Advancements: The integration of smart technologies, including IoT and AI-driven automation, is transforming the market landscape. Companies are investing heavily in creating energy-efficient and environmentally friendly machinery that can operate with reduced emissions and lower fuel consumption.
Mergers & Acquisitions: The earthmoving equipment market is seeing a surge in consolidation. Notable mergers and acquisitions include ๐๐๐ญ๐๐ซ๐ฉ๐ข๐ฅ๐ฅ๐๐ซ'๐ฌ acquisition of CME to expand its product portfolio, and ๐๐จ๐ฆ๐๐ญ๐ฌ๐ฎ'๐ฌ strategic partnership with ๐๐๐๐ to penetrate emerging markets.
๐๐๐ซ๐ญ๐ก๐ฆ๐จ๐ฏ๐ข๐ง๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐ข๐ง ๐๐ข๐๐ญ๐ง๐๐ฆ
Vietnam's growing economy and rapid urbanization have created a surge in demand for earthmoving equipment, particularly in the construction and infrastructure sectors. With several large-scale infrastructure projects underway, the government is investing significantly in transportation, residential, and industrial construction.
๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ:
๐๐๐ญ๐๐ซ๐ฉ๐ข๐ฅ๐ฅ๐๐ซ recently announced a strategic collaboration with Vietnamese construction companies, offering specialized equipment tailored to local needs.
๐๐๐ซ๐ญ๐ก๐ฆ๐จ๐ฏ๐ข๐ง๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐ข๐ง ๐๐ก๐๐ข๐ฅ๐๐ง๐
Thailand is one of the fastest-growing markets for earthmoving equipment in Southeast Asia. With increasing demand in the construction and mining sectors, the Thai market is projected to see a CAGR over the forecast period. Thailand's strategic location as a manufacturing hub also contributes to its strong market position.
๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ:
๐๐จ๐ฅ๐ฏ๐จ ๐๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ข๐จ๐ง ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ has expanded its dealership network in Thailand to enhance its service offerings and penetrate the growing market for heavy machinery.
๐๐๐ซ๐ญ๐ก๐ฆ๐จ๐ฏ๐ข๐ง๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ ๐ข๐ง ๐๐๐ฉ๐๐ง
Japan, with its advanced infrastructure and technology-driven construction sector, remains a key market for high-end earthmoving equipment. Japan's emphasis on sustainability and automation in construction equipment is opening up new opportunities for growth.
๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ:
๐๐ข๐ญ๐๐๐ก๐ข ๐๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ข๐จ๐ง ๐๐๐๐ก๐ข๐ง๐๐ซ๐ฒ launched its new fleet of environmentally friendly, energy-efficient earthmoving machines designed to meet the needs of modern construction.
๐๐๐ญ ๐ ๐๐ฅ๐จ๐ฌ๐๐ซ ๐ฅ๐จ๐จ๐ค ๐๐ญ ๐ญ๐ก๐ ๐ ๐๐ฆ๐-๐๐ก๐๐ง๐ ๐ข๐ง๐ ๐ฉ๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐ ๐ฌ๐ฎ๐๐๐๐ฌ๐ฌ :https://www.maximizemarketresearch.com/request-sample/123477/
๐๐๐ซ๐ญ๐ก๐ฆ๐จ๐ฏ๐ข๐ง๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง ๐ข๐ง ๐๐จ๐ฎ๐ญ๐ก ๐๐จ๐ซ๐๐
South Korea's strong manufacturing sector and emphasis on high-tech equipment have led to steady demand for earthmoving machinery. The government's push for infrastructure improvements and public-private partnerships further supports this growth trajectory.
๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ:
๐๐ฒ๐ฎ๐ง๐๐๐ข ๐๐จ๐ง๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ข๐จ๐ง ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ announced the acquisition of several regional companies to improve its market presence in South Korea and expand its international footprint.
๐๐๐ซ๐ญ๐ก๐ฆ๐จ๐ฏ๐ข๐ง๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ฉ๐๐๐ญ๐ข๐จ๐ง ๐ข๐ง ๐๐ข๐ง๐ ๐๐ฉ๐จ๐ซ๐
Singapore is positioning itself as a regional leader in smart construction technologies, and this is influencing demand for innovative earthmoving equipment. The market in Singapore is expected to grow driven by digital construction initiatives and sustainable development.
๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ:
๐๐๐๐ unveiled a new line of electric-powered earthmoving equipment aimed at reducing environmental impact and meeting Singapore's green construction standards.
๐๐๐ซ๐ญ๐ก๐ฆ๐จ๐ฏ๐ข๐ง๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐ง๐ข๐ญ๐๐ ๐๐ญ๐๐ญ๐๐ฌ
The United States remains a dominant player in the global earthmoving equipment market, with steady growth driven by the construction, infrastructure, and mining sectors. The U.S. government's focus on rebuilding infrastructure through initiatives like the ๐๐ข๐ฉ๐๐ซ๐ญ๐ข๐ฌ๐๐ง ๐๐ง๐๐ซ๐๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ฎ๐ซ๐ ๐๐๐ฐ is expected to further boost demand for earthmoving equipment.
๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ:
๐๐๐ญ๐๐ซ๐ฉ๐ข๐ฅ๐ฅ๐๐ซ expanded its operations in the U.S. with new facilities focused on the production of autonomous and smart equipment.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐๐๐ญ๐ ๐๐ง๐ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ฒ ๐ฏ๐ข๐๐ฐ๐ข๐ง๐ ๐ญ๐ก๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ @https://www.maximizemarketresearch.com/request-sample/123477/
๐๐๐ซ๐ญ๐ก๐ฆ๐จ๐ฏ๐ข๐ง๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ ๐ข๐ง ๐๐ฎ๐ซ๐จ๐ฉ๐
The European earthmoving equipment market is characterized by a strong emphasis on sustainability and innovation. The market is grow driven by stricter environmental regulations and technological advancements in machinery. Countries like Germany, France, and the UK lead the demand for earthmoving equipment, with infrastructure projects gaining momentum.
๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ::
๐๐ข๐๐๐ก๐๐ซ๐ซ introduced a new series of hybrid-powered machines in Europe, aligning with the EU's goals for greener construction practices.
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง:
๐๐ฒ ๐๐ซ๐จ๐๐ฎ๐๐ญ
Excavator
Crawler Excavator
Wheeled Excavator
Short swing radius excavator
Pile Driver
Diesel impact hammer
Vibratory hammer
Air/Steam impact hammer
With a total revenue of 48.36 billion in 2023 and a compound annual growth rate (CAGR) of 4.7%, the excavator is predicted to hold the greatest proportion of the earthmoving equipment market category, reaching 66.70 billion. Because of their multifunctionality and variety of product kinds, including crawler, wheeled, and short swing radius excavators, excavators are frequently utilized on heavy construction projects. With a 15% market share and 98,705 units sold worldwide in 2023, Sany Heavy Industry Limited surpasses major players like JCB and Caterpillar. The third market segment for earthmoving equipment with less capability and a smaller market share is trenchers, pile drivers, and compactors.
๐๐ฒ ๐๐ฒ๐ฉ๐
Construction
Mining
Other
๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
Diesel
Electric
The market for earthmoving equipment is dominated by the construction industry. Large-scale construction operations necessitated mining, excavation, demolition, and heavy machinery and earthmoving equipment. Due to their extensive national highway construction projects, smart city infrastructure development, and waterway connection projects, developed and developing nations like China and India are the ones that generate the most demand. The second most common use of earthmoving equipment is for granite, mineral, and oil mining, both onshore and offshore.
๐๐๐ญ ๐ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:https://www.maximizemarketresearch.com/market-report/earthmoving-equipment-market/123477/
๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
1. Volvo CE
2. Caterpillar Inc.
3. Komatsu Limited
4. Doosan Co.
5. Hitachi Construction Machinery Co.
6. Liebherr Group
7. JCB
8. Hyundai Construction Equipment Co. Ltd.
9. Sany Heavy Industry Limited
10. Corporation
11. CNH Heavy Industries Co. Ltd.
12. Deere and Company
13. Kobelco Construction Machinery Co. Ltd.
14. Mitsubishi Heavy Industries Ltd.
15. Zoomlion Heavy Industry Science & Technology Co. Ltd.
๐๐ก๐๐๐ค ๐จ๐ฎ๐ญ ๐จ๐ฎ๐ซ ๐ญ๐ซ๐๐ง๐๐ข๐ง๐ ๐ฌ๐ญ๐ฎ๐๐ข๐๐ฌ ๐ญ๐จ ๐ฎ๐ง๐๐๐ซ๐ฌ๐ญ๐๐ง๐ ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ฌ๐ก๐ข๐๐ญ๐ฌ :
โฆ Cloud Applications Market https://www.maximizemarketresearch.com/market-report/global-cloud-applications-market/116735/
โฆ Baking Ingredients Market https://www.maximizemarketresearch.com/market-report/global-baking-ingredients-market/27219/
โฆ Sarcoma Drugs Market https://www.maximizemarketresearch.com/market-report/sarcoma-drugs-market/164814/
โฆ Account-Based Marketing Market https://www.maximizemarketresearch.com/market-report/global-account-based-marketing-market/28686/
โฆ Global Event Stream Processing Market https://www.maximizemarketresearch.com/market-report/global-event-stream-processing-market/34822/
โฆ Global Resistant Starch Market https://www.maximizemarketresearch.com/market-report/global-resistant-starch-market/101256/
โฆ Oil and Gas Tubular Goods Market https://www.maximizemarketresearch.com/market-report/oil-and-gas-tubular-goods-market/71371/
โฆ AI Camera Market https://www.maximizemarketresearch.com/market-report/ai-camera-market/145884/
โฆ France Electric Vehicle Market https://www.maximizemarketresearch.com/market-report/france-electric-vehicle-market/65954/
โฆ 3D NAND Flash Memory Market https://www.maximizemarketresearch.com/market-report/global-3d-nand-flash-memory-market/28292/
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๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
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