Crawler Excavator Market By Product (Standard, Hybrid, Small Trail, Super Long Front), By Size (Small (0.3-2.0), Medium (2.0-4.0), Large (Above 4.0)), By Application (Construction, Mining, Forestry & Agriculture, Others) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

Industrialization and urbanization are propelling the crawler excavator market.

Globally, the crawler excavator market is expected to grow at a CAGR of 2.5% during the forecast period from 2019 to 2027. The increasing industrialization and urbanization across the globe are the primary factors driving the demand for crawler excavators. As industrialization spreads across emerging markets, the rural population is rapidly migrating from remote areas to cities in search of jobs and a better way of life.

This is encouraging governments across the globe to develop infrastructure and colonies to accommodate the rising urban population. Moreover, the growing trend of automation across the industry verticals, along with the adoption of next-generation construction equipment and machinery, is also serving as a major driver for the growth of the market.

The advancements in the technology and design of crawler excavators are also accelerating market growth. However, the high capital cost of the crawler excavators is acting as a major inhibitor to the growth of the market. Furthermore, the high maintenance cost is also restricting adoption.

The crawler excavator requires periodic servicing and maintenance for proper functioning. This significantly reduces the operational costs of the organization. Therefore, organizations are still reluctant to buy crawler excavators and prefer the renting option.

Market Synopsis

The Small Trail Crawler Excavator Industry Is Estimated To Grow Significantly During The Forecast Period.

The crawler excavators market is divided into standard, hybrid, small trail, and super long front types based on the product market. The small trail crawler excavators market is estimated to grow significantly with a CAGR of more than 3.5% during the forecast period due to their increasing adoption among mining applications. The superior properties of the excavators, along with their high efficiency, make them a suitable option for mining applications.

North America Is the Crawler Excavator Market Leader

In 2018, North America dominated the crawler excavators market, accounting for more than 30% of total revenue. The growth of the market is driven by the increasing industrialization and urbanization of the region. The rapidly growing construction activities in the region also aid in the growth of the market. Furthermore, the region's crawler excavators market is being accelerated by the increasing adoption of advanced pieces of machinery across the construction sector, as well as rising automation.

The prominent players in the crawler excavator market are Caterpillar, China SINOMACH Heavy Industries, CNH Industries, Deere & Company, Doosan Bobcat Inc., Hitachi Construction Machinery, Hyundai Construction Company, J. C. Bamford Excavators, Komatsu, Liebherr, RM-Terex, Sany Group, and Volvo Construction Equipment.

Historical and Forecast Period

This research report presents the analysis of each segment from 2017 to 2027,considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The crawler excavator market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global crawler excavator market based on product, capacity, application, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

• What was the market size of crawler excavators in 2018, and what is the forecast up to 2027?
• Which is the largest regional market for crawler excavators?
• What are the major trends followed in the crawler excavator market across different regions?
• Who are the key companies in the crawler excavator market?
• What are the key strategies adopted by the leading crawler excavator companies in the market?

Unique data points of this report

• Statistics on crawler excavators and spending worldwide
• Recent trends across different regions in terms of the adoption of crawler excavators across industries
• Notable developments are going on in the industry.
• Attractive investment propositions for segments as well as geography
• Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

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