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Allied Market Research

Crawler Excavator Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

A07849
Pages: NA
Dec 2020 | 40 Views
 
Author(s) : NA
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A crawler excavator is a tracked vehicle used to dig, move, or grade large objects from the ground. These vehicles usually comprise of a loader bucket attached at the front which is used for grading, digging, and earth-moving. They consist of components such as rotor support, crawler chassis, turntables, cab, central swivel joints, panel, and air-conditioners. There are many types of excavators available like walker, wheeled, rail, towed, and more. The attachments of the excavators can be replaced with others depending on the application and requirement. They are provided with crawler type wheels that have a chain wrapped over the wheels to improve the traction during operation. These vehicles have major application in industries like construction, mining, agriculture, and others.   

Market scope and structure analysis:

                 Report Metric

                                       Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value ($USD Million)

  Segments covered

  Product type, capacity, application, and region

  Geographies covered

North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, Italy, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa)

  Companies covered

 

Major players analyzed include BEML, Deere & Company, Hitachi Construction Machinery, Caterpillar, JCB, Komatsu, Sany Heavy Industry, Liebherr International, Volvo Construction Equipment, and Terex, Kubota.

 

COVID-19 Scenario analysis:

  • COVID-19 pandemic has shut-down the production of various products in the crawler excavator industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of crawler excavator market significantly from last few months, as is likely to continue during 2020.
  • COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year. 
  • The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
  • Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Drivers, restraints, and opportunities

Surge in construction and mining activities worldwide are the major factors that are expected to drive the growth of the crawler excavator market in the upcoming years. Besides, features of crawler excavators like suitable for muddy conditions, capacity to carry huge weights, and more can potentially fuel the growth of the crawler excavator market for the next few years. Moreover, new infrastructural developments and new mining projects initiated by governments of different countries can boost the demand in the crawler excavator market. However, the requirement of large capital investments for installation, maintenance, replacements and repairs of crawler excavators are anticipated to hamper the growth of the global crawler excavators market. On the contrary, growing government incentives in construction and mining industries are anticipated to provide lucrative growth opportunities for the crawler excavator market during the forecast period.

Trends in crawler excavator market

Focus on waste management providing huge returns

The increasing need for waste management in manufacturing industries is expected to provide many opportunities for the crawler excavator market. The immense construction activities observed in the emerging countries like China and India can boost the demand for these vehicles. Gathering waste from industrial sites, construction sites and waste yards have raised the demand for heavy material handling systems like backhoe loaders, wheeled loaders and others, thereby propelling the growth of the crawler excavators market. In addition, government implemented schemes for proper waste management like the Solid Waste Management Rules, implemented by the government of India in 2016 are expected to contribute significantly for the growth of the crawler excavator market in the upcoming years.

Notable growth in mining sector 

Governments of different nations are investing heavily on new mining projects. For example, the government of India has approved new mining projects like Adasa underground mine project in Maharasthra, Kulda opencast project in Odisha, and more. The crawler excavators have a wide range of application in the mining industry as the extraction of mining products essentially need ground engaging equipment. Moreover, the mining sector throughout the world is witnessing fast recovery from an economic crisis in recent years. These factors can be augmented for the positive growth of the crawler excavator market during the forecast period.

                     Segments

                 Sub-segments

  Product type

  1. Standard
  2. Hybrid
  3. Small trail
  4. Others

  Application

  1. Construction
  2. Mining
  3. Agriculture
  4. Forestry
  5. Others

  Capacity

  1. Small
  2. Medium
  3. Small trail

 

Key benefits of the report:
 

  • This study represents the analytical representation of the global crawler excavator market combined with the ongoing trends and future predictions to determine investment opportunities.
  • The present market is thoroughly analyzed from 2019 to 2027 to enlighten the crawler excavator market growth.
  • The report gives information regarding the important drivers, restraints, and opportunities provided with an in-depth analysis of the global crawler excavator market.
  • Segmentation details of the global crawler excavator market.
  • The report gives a comprehensive global crawler excavator market analysis based on competitiveness and how the performance of the competitors will take shape in the coming years. 
 
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