Global Crawler Excavator Market Projected to Reach USD 65,665.2 Million by 2033, Growing at a Modest CAGR of 2.7%

The Crawler Excavator Market is projected to exceed USD 50,307.3 million in 2023, with an estimated valuation of USD 65,665.2 million by 2033, reflecting a CAGR of 2.7% from 2023 to 2033.

Crawler excavators are vital for maintaining aging infrastructure, which requires regular upkeep and repairs to remain functional. This includes essential structures like roads, bridges, and pipelines that deteriorate over time, necessitating tasks such as repaving, reinforcement, and component replacement. Excavators are crucial for these maintenance activities.

Their versatility allows them to handle heavy materials, remove old pavement, and dig trenches for utility repairs, making them indispensable for the ongoing maintenance and upgrading of existing infrastructure. This consistent demand remains stable, even amid fluctuations in new construction projects, ensuring a reliable market for crawler excavators.

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In response to this demand, manufacturers are introducing more technologically advanced crawler excavators that feature GPS integration, telematics, and enhanced fuel efficiency. These innovations appeal to customers seeking to boost productivity and reduce operating costs.

Furthermore, large-scale construction projects, particularly in developing countries, driven by foreign investments in infrastructure-such as roads, airports, and power plants-are expected to further stimulate growth in the crawler excavator market. These initiatives are often supported by foreign governments, multinational corporations, or international development banks, providing a significant boost to market expansion.

Key Takeaways from Crawler Excavator Market Report:

In 2018, the global market size stood at USD 44,464.3 Million.
The market expanded at a CAGR of 2.5% from 2018 to 2022.
In 2022, the global market size stood at USD 49,080.3 Million.
The United States captured 13.5% of global market shares in 2022.
India captured 2.8% of global market shares in 2022.
China captured 3.0% of global market shares in 2022.
The United Kingdom captured 2.8% of global market shares in 2022.
The standard product type segment captured 51.3% of global market shares in 2022.
The medium (2.00 to 4.00) bucket capacity segment acquired 23.3% of global market shares in 2022.

Competitive Landscape

Major Players Revolutionizing the Market

Manufacturers are making operational advances in their excavator motors, hydraulic crawler excavators, structures, tracks, and cab construction to improve their telematics fuel efficiency and competitiveness. With several global players, the need for product differentiation has led to the up-gradation of technology such as remote access, autonomous machines, and more.

Key Players of Crawler Excavator Market

Tata Hitachi Construction Machinery (THCM)
Bharat Earth Movers Limited (BEML)
Komatsu
JCB
Doosan Excavator
Caterpillar
SANY
Volvo Construction Equipment
Kobelco Construction Equipment India
Hyundai Construction Equipment

Recent Developments Observed by FMI:

Volvo Construction Equipment unveiled the EC550E crawler excavator in India in July 2022. Users of the machine, which has a Tier 3 engine, may benefit from its performance, productivity, and efficiency that dominate the industry. The machine is perfect for the Indian market.
CASE Construction Equipment debuted its new CASE E-Series Crawler Excavator range in March 2022. Seven new models in the CASE E-Series line, with weights ranging from 13 to 30 tonnes, have been added, relying on a 180-year legacy of earth moving innovation, manufacturing know-how, and customer feedback. CX130E, CX160E, CX180E, CX210E, CX240E, CX250E, and CX300E are the aforementioned models.

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Crawler Excavator Market Segmentation

By Product Types:

Standard
Hybrid
Short Tail
Super Long Front

By Bucket Capacity:

Small (0.30 to 2.00)
Medium (2.00 to 4.00)
Large (Above 4.00)

By Operating Weight:

12,500 to 22,100 Kg
22,650 to 30,200 Kg
34,300 to 45,750 Kg
51,000 to 70,650 Kg
78,500 to 93,300 Kg
Above 95,900 Kg

By End Use Vertical:

Construction
Mining
Forestry & Agriculture
Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East & Africa (MEA)

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This release was published on openPR.