Global Hydraulic Excavator
Market Report
2024
Hydraulic Excavator market size was $59,268.06 Million in 2024 and it is forecasted to reach $73,988.83 Million by 2029. Hydraulic Excavator Industry's Compound Annual Growth Rate will be 3.94% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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As per Cognitive Market Research's latest published report, the Global Hydraulic Excavator market size was $59,268.06 Million in 2024 and it is forecasted to reach $73,988.83 Million by 2029. Hydraulic Excavator Industry's Compound Annual Growth Rate will be 3.94% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Hydraulic Excavator Market Sales Revenue 2029 | $ 73 Million |
Global Hydraulic Excavator Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 3.94% |
Market Split by Size |
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Market Split by Operating Mechanism |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Hydraulic Excavator Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Hydraulic excavators are also called diggers. A hydraulic excavator comprises an upper carriage with a hydraulically rotating top deck (revolving 360o) and attachment, which is directly connected to either a wheeled or crawler undercarriage. The excavator attachment's front end is made up of a bucket, grapple, scrap shear, or another device.
Hydraulic excavators come in a variety of sizes, including up to 8t, 12t, and 20t. The machine's hydraulic arm, which has a blade at the tip, is designed to move on wheels or chains and rotate 360 degrees on its axis to excavate, rotate, and move objects, as well as load, mobilize, and demobilize them. It can be powered by an engine, an electric motor, or a hybrid system.
These high-performance excavators are especially beneficial for confined work locations that are inaccessible to traditional equipment. Hydraulic excavators are utilized in a variety of applications ranging from road and pipeline building to mining and the extraction of diamond and gold-bearing rocks. This increases the need for hydraulic excavators
Growing usage of a hydraulic excavators in mining
Hydraulic excavators play an important part in mining operations. Hydraulic excavators are one of the most significant engineering advances in a new generation of ultra-large mega mining machines meant to boost output and expand production in the mining industry.
Hydraulic mining excavators are widely used because they have various technical and technological benefits over electromechanical mining excavators. It includes the capacity to use all of the installed driving power in each actuator as well as greater working body kinematic mobility (bucket).
The hydraulic mining excavators dig and draw material back towards the machine using a bucket. They also incorporate a self-contained driver cabin on the body that houses the engine and other components. This is linked to the track assembly by a massive swivel joint, allowing it to spin 360 degrees.
With operating capacities at both upper and lower levels with the excavator's level, a hydraulic backhoe excavator can be employed as flexible loading equipment in mining, particularly in selective mining and deepening pit bottom for a deep surface mine.
Hydraulic excavators are employed in open-cut mines and have become vital due to their adaptability and mobility. In particular, the coal mining project strongly depends on the supplied hydraulic excavators. Hydraulic excavators work in coal mines around the clock under harsh conditions. These devices have the potential to be the deciding factor in a project's success.
Mining activity has expanded substantially in recent years as the demand for and use of minerals has increased. This increases the demand for hydraulic mining excavators. According to the statistics, mining production climbed from 11.3 billion metric tonnes in 2000 to 17.2 billion metric tonnes in 2020. According to the National Mining Association, each American consumes around 3.4 tonnes of coal and over 40,000 pounds of newly mined commodities each year. About half of all power generated in the United States comes from coal and uranium, and practically every manufactured commodity includes some mineral component. Consequently, the growing use of hydraulic excavators in mining fuels the growth of the hydraulic excavator market.
Urbanization is the process through which cities expand and a greater proportion of the population moves to the city. It is primarily the process through which towns and cities originate and grow in size as more people begin to live and work in core locations.
According to the United Nations Population Fund, currently, more than half of the population of the world is living in towns or cities and by 2030 this number is predicted to reach around 5 billion.
Population growth in cities causes people to be crammed into high-rise apartments or distributed throughout the outskirts of urban expansion. This drives towards the development of land for commercial properties, social and economic support institutions, transportation, and residential structures.
According to the Council on Tall Buildings and Urban Habitat, 84 percent of the world's skyscrapers over 200 meters have been built in the last 20 years. Similarly, the survey discovered that 23 tall structures were constructed in 2000, while 126 tall buildings were finished in 2019.
Hydraulic excavators are becoming more common as their use in construction and mining expands. However, the high expense of hydraulic excavators can limit their use. A new excavator typically costs between $10,000 and $500,000. Small excavators weighing 10 to 15 tonnes typically cost between $80,000 and $150,000. Mid-sized excavators weighing 15 to 20 tonnes typically cost $100,000 to $200,000. Large versions weighing 30 to 40 tonnes are often priced between $200,000 and $400,000.
In addition, the accessories necessary for hydraulic excavators are expensive. For example, each extra bucket of hydraulic excavators costs $1,000 to $5,000. For each attachment a customer buys, the price ranges from $5,000 to $10,000 for items like thumbs, rakes, blades, and hydraulic hammers.
Furthermore, the high maintenance costs of these hydraulic excavators are impeding market expansion. Electric rope shovels and hydraulic excavators/shovels frequently serve and load as many as 8–10 mining haul trucks per day, therefore unanticipated equipment shutdowns involving these pieces of equipment can result in a significant loss in output and operating profitability.
As a consequence of all of the aforementioned issues, the high cost of hydraulic excavators could impede the growth of the hydraulic excavator market.
The emergence of the COVID-19 pandemic has significantly impacted the overall industrial sector operations in which mining and construction top the charts. The government has imposed operational restrictions and shutdowns leading to a decrease in the demand for overall commodities. The trade-associated restriction has also hampered the supply chain of raw materials and finished products.
The mining industry is highly associated with the extraction of minerals and metals including copper, lithium, cobalt, aluminum, nickel, and graphite which are among the essential components required in electric vehicle batteries, consumer electronics, etc. Owing to COVID-19 operational restrictions, the manufacturing activities of such industries were suspended and thus, demand for minerals decreased. Moreover, with the highly contagious nature of coronavirus, all the construction projects were forced to halt. Further, the manufacturing operation associated with hydraulic excavators was also suspended owing to the imposed guidelines.
Hence with the decrease in demand from application industries and suspension of manufacturing activities of hydraulic excavators, a negative impact of COVID-19 has been observed on the growth of the hydraulic excavator market.
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Caterpillar specializes in the manufacturing of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. The company has about 107,700 employees worldwide. The company is operating under 21 brands. The company has four operating segments including construction industries, resource, energy and transportation and services provided in the portfolio.
The products of the company are segmented into equipment, power systems, attachments and parts. Equipment segment includes articulated trucks, excavators, backhoe loaders, compactors, pipelayers, road reclaimers, skid steer & compact track loaders and others. In addition, power systems include electric power, marine power system and others. Moreover, adapters, augers, bale grabs, cold planers, forks, brooms, buckets-excavator, bucket-loader and others are included in attachment
November 2020
The new Cat 320 GX and 323 GX hydraulic excavators brings benefits to China customers. The new dirt diggers feature classic Cat D Series quality coupled with modern upgrades. The new classic GX excavators give contractors even more choices to meet their needs along with the enhanced 320 and standard 320 GC models.
CNH Industrial N.V. is a UK based manufacturer of agricultural and construction equipment. The company operates through five operating segments including agriculture, construction, commercial and specialty vehicles, powertrain, and financial services.
Agriculture segment offers farm machinery including two-wheel and four-wheel drive tractors, crawler tractors, combines, cotton pickers, grape and sugar cane harvesters, hay and forage equipment, planting and seeding equipment, soil preparation and cultivation implements, and material handling equipment. It offers agriculture equipment under the New Holland Agriculture and Case IH brands, as well as the STEYR, Kongskilde and Överum brands in Europe and the Miller brand, primarily in North America and Australia.
Construction segment of company offers excavators, crawler dozers, graders, wheel loaders, backhoe loaders, skid steer loaders, and compact track loaders. Construction equipment is sold under the CASE Construction Equipment and New Holland Construction brands. Commercial and Specialty Vehicles segment provides wide range of light, medium, and heavy vehicles for the transportation and distribution of goods. These products are sold under the IVECO brand, HEULIEZ BUS brands, IVECO ASTRA brand, Magirus brand, and Iveco Defense Vehicles brand.
The company’s Powertrain segment offers engines, transmission systems and axles for on- and off-road applications, as well as for marine and power generation. These are sold under FPT Industrial brand. Further, the company’s financial services segment includes range of financial products and services to dealers and customers.
February 2022
CNH Industrial established CNH Industrial Ventures to accelerate time-to-market for valuable innovations to boost customer productivity and advance its ESG targets. Through this new initiative, creates a structure for its existing strategic investments and invites inventive and rapidly growing companies to join in shaping the future of agriculture and construction.
Top Companies Market Share in Hydraulic Excavator Industry: (In no particular order of Rank)
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Region and country analysis section of Hydraulic Excavator Industry Analysis has been segmented into 5 major region such as North America, Europe, Asia Pacific, Middle East & Africa ,and Latin America (along with respective major contributing countries) and provides the revenue share, current trends.
The base years considered for all the estimations by analyzing trends and growth rate will help you gain an in-depth understanding of the conclusions provided in this report. This report also includes figures, graphs, pie charts, tables and bar graphs that explain the data analysis based on current trends at the country level as well as key regions. This research report also focuses on assessing factors such as profit, product price, capacity, production, supply demand market growth rate along with others to create a clear picture on the future prospects of Hydraulic Excavator market.
The current report Scope analyzes Hydraulic Excavator Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Hydraulic Excavator Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Hydraulic Excavator Industry growth. Hydraulic Excavator market has been segmented with the help of its Size, Operating Mechanism , and others. Hydraulic Excavator market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The Upto 8T segment Revenue will be USD 27,894.26 Million by 2029.
Several manufacturers are offering very efficient excavators up to 8 Ton in capacity to meet the demands of urban infrastructure. The 8-ton tracked excavator is an ideal digger to utilize on a large site, with tremendous dig depth and reach, making it a popular choice for many customers. This hydraulic 8-tonne excavator is a dependable partner for irrigation, rural projects, brickworks, ponds, and fisheries, among other things.
12 tonnes excavators are excavators used for urban development, agricultural land improvement, port and harbor work, and other light-duty civil construction projects. It is also intended for social infrastructures construction tasks such as material loading at construction sites, general road construction, and the installation of water and sewage pipelines. These excavators were created with a focus on the capabilities required for civil construction applications while keeping their well-known operability and fuel efficiency..
Excavators that weigh 20 tonnes offer exceptional operator comfort and operability in this competitive class, as well as higher performance, greater efficiency, and productivity. The larger operational weight of the machine results in enhanced stability and superior lifting capability.
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The Electric segment Revenue in Hydraulic Excavators will be USD 7,590.70 Million by 2029.
With the growing popularity of electric vehicles, many hydraulic excavator manufacturers are concentrating on the introduction of electric hydraulic excavators. The excavator is outfitted with lithium-ion batteries and an electric motor that power the hydraulics that move the machine and attachment in place of the diesel engine. The batteries hold enough electric energy to keep the vehicle running for several hours.
Numerous hydraulic excavators have a diesel engine that is connected to a group of hydraulic pumps as part of its powertrain. They produce the crucial gallons per minute (gpm) of hydraulic fluid required to power the undercarriage, cab swing, bucket curl, attachment operation, and everything else.
Hydraulic excavator energy conservation is one of the most pressing issues confronting the construction machines sector. As a result, the demand for hybrid hydraulic excavators is increasing. It saves fuel by storing the energy created during swing deceleration in a capacitor as electrical energy, which is then effectively used to propel the swing by the swing electric motor.
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Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
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Size | Upto 8T, 8 - 12T, 12 - 20T |
Operating Mechanism | Electric, Conventional, Hybrid |
List of Competitors | Caterpillar Inc., CNH global NV, Doosan Infracore Ltd, Hyundai Heavy Industries Ltd, JCB, Komatsu, John Deere, Sumitomo Heavy Industries Ltd, SANY, Others |
This chapter will help you gain GLOBAL Market Analysis of Hydraulic Excavator. Further deep in this chapter, you will be able to review Global Hydraulic Excavator Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Size Analysis 2019 -2031, will provide market size split by Size. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Size Analysis 2019 -2031
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Chapter 11 Market Split by Operating Mechanism Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Hydraulic Excavator market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Upto 8T have a significant impact on Hydraulic Excavator market? |
What are the key factors affecting the Upto 8T and 8 - 12T of Hydraulic Excavator Market? |
What is the CAGR/Growth Rate of Electric during the forecast period? |
By type, which segment accounted for largest share of the global Hydraulic Excavator Market? |
Which region is expected to dominate the global Hydraulic Excavator Market within the forecast period? |
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