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Earthmoving Equipment Market Report 2019-2024 | Regional Revenue, Growth & Trends Analysis

Author : Rahul Varpe | Published Date : 2019-10-28 

Earthmoving Equipment Market study added by Global Market Insights exhibits a comprehensive analysis of the growth trends present in the global business scenario. The study further presents conclusive data referring to the commercialization aspects, industry size and profit estimation of the market. The study also illustrates the competitive standing of leading manufacturers in the projection timeline whilst incorporating their diverse portfolio and regional expansion endeavors.

Earthmoving equipment market size is projected to reach USD 192.45 billion by 2023; as per the latest research report by Global Market Insights, Inc. growing adoption in the commercial sector, favorable Government initiatives and growing transport infrastructure development worldwide will drive the global market size.

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The multifunction equipment is preferred over single-function equipment for saving the cost. This also reduces the time and labor required to accomplish the task with improved efficiency and extended productivity as added advantages. Rising investments in R&D to discover solutions to enhance product offerings will propel the earthmoving equipment market.

Earthmoving machinery is mainly applied in the construction industry. The construction industry is predicted to maintain its dominance, with more than 60 % of the earthmoving equipment market share. Excavator are used in surface level and below ground operations.

Rising demand in factories and manufacturing facilities will drive the excavator segment growth. Obtaining construction equipment on rent or lease is a rising trend. The construction equipment rental market is predicted to exceed USD 85 billion by 2023.

Excavators will continue to be the most attractive equipment with more than 9% CAGR from 2016 to 2023. Real-time monitoring features for identifying and supervising system failure are expected to drive demand.

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Europe Earthmoving Equipment Market share will remain steady, with revenue forecast to exceed 43 billion in predicted timeframe. In Private and Government sectors, increasing demand for technologically advanced solutions, featuring better material handling and improved fuel efficiency combined with lower emissions and safety is expected to propel the market worldwide.

Growing trend towards the usage of used heavy machinery across numerous countries may prove to be a threat to the new products that are to be launched in the segment. Increasing expenditure on infrastructure activities is also forecast to escalate earthmoving equipment market demand, notably over the coming years.

Some of the key participants operating in the global earthmoving equipment market include

  1. John Deer
  2. Caterpillar
  3. Komatsu
  4. Volvo
  5. Hitachi
  6. Liebherr
  7. Doosan

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde

Corporate Sales, USA

Global Market Insights, Inc.

Phone:1-302-846-7766

Toll Free: 1-888-689-0688

Email: [email protected]

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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