Press release
Crawler Excavator Market Size to Grow at a Steady Rate During Forecast Period 2017-2027
In the current market scenario, hydraulic crawler excavators have captured the market share of the normal crawler excavators, owing to its high lifting capacity, power and flexibility. Moreover the more powerful hydraulic excavators is estimated to diminish the market for the conventional crawler loaders and excavators because of its high operational capabilities. However, the crawler loaders are been manufactured and used in construction and mining activities in the Europe, APAC and Latin America region.
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Crawler Excavator market: Market Dynamics
Drivers
Increasing automation across various industries such as construction, excavation and mining industries is expected to fuel up the crawler excavator market. Intelligent crawler excavator and its buckets are more efficient compared to the conventional crawler excavator. Crawler excavator are also used in construction and mining application for digging and excavation. Owing to the rising awareness and concern for environment and stringent government regulations towards the disposal of construction waste and debris, this is expected drive the crawler excavator market in the near future. With the effective use of crawler excavator the overall efficiency, reliability, of the construction activities can be increased considerably. Moreover it can also optimize the operation cost and reduce idle time these are some of the key factors which is estimated to augment the usage of crawler excavator in the global market. Moreover, the hydraulic crawler excavator are capable of controlling the motors from a central location and hence it is very easy for the operator to control the loading/unloading and digging operations.
Restraints
High level of investment cost incurred for the installation of crawler excavator is a restraining factor for crawler excavator market. Owing to rise in maintenance as well as initial costs, there has been a substitution effect, which is influencing end users to rent the crawler excavators as opposed to making an outright purchase of the same. According to one of the leading rental companies, if the use of an equipment is not for at least two-thirds of its average life, one should seriously consider renting the heavy constructional equipments as it is far more economical than purchasing it. The crawler excavators need to be serviced periodically as mandated by the authorities. Since, the maintenance cost is relatively high, customers tend to refrain from the purchase of crawler Excavators, instead, search for other alternatives
Trends
Prominent market participants invest heavily in R&D, which is intended to implement new features in the crawler excavator. The introduction of new technologies to their products is further fueling the use of crawler excavator among the consumers in the global crawler excavator market. The advancement in automation and research division has lead the manufacturers to manufacture crawler excavator, which are driverless and behave like robot vehicles for harsh mining and construction activities. The monster robot construction equipment can travel at a higher speeds and haul a higher payloads, which is faster enough for construction and mining operations.
Crawler Excavator market: Segmentation
On the basis of product type crawler Excavator market is segmented as:
Compact Excavators
Wheeled Excavators
On the basis of end use of Crawler Excavator market is segmented as:
Construction
Mining
Excavation
Others Industrial Applications (Quarrying)
Crawler Excavator Market: Regional Outlook
Prominent market players are trying to develop strong and long lasting chassis for construction equipments, which can be used efficiently and sustain load depending on the object to be moved and transported. The advancement in the material science technologies in the manufacturing industries have enabled them to use new advanced and strong materials such as alloys of aluminum and steel, which makes the chassis and the body of the vehicles durable and stronger under extreme payloads. North America and Europe is expected to have high market share owing to increasing automation in manufacturing and construction sectors. Expansion of construction and mining industries in the emerging economic such as India and China is expected to be a key driving factor for the crawler excavator market growth in the Asia-Pacific region. Latin America and Middle East is projected to open new opportunities for crawler Excavator market over the forecasted period.
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Crawler Excavator Market: Key Participants
Terex Corporation.
Liebherr International AG
Komatsu Limited
CNH Global LLC
Caterpillar Inc.
J.C. Bamford Excavators
Deere & Company
Volvo AB
MITSUBISHI HEAVY INDUSTRIES, LTD.
Liugong Machinery Co., Ltd.
Sinomach-HI (Luoyang) Co., Ltd.
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