The crawler excavator market size surpassed US$ 50,307.3 million in 2023 and is projected to reach a valuation of US$ 65,665.2 million by 2033. The market share of crawler excavators is forecasted to grow at a CAGR of 2.7% from 2023 to 2033. The increasing demand for crawler excavators is driven by advancements in conventional designs and the manufacturing of compact crawler excavators, resulting in superior quality and high performance.
The Asia Pacific Excluding Japan (APEJ) region, valued at US$ 17.32 billion in the base year, is expected to lead the global crawler excavator market during the forecast period. The APEJ market is projected to advance at a CAGR of 3.2% during the study period. Robust industrialization and urbanization in Asia Pacific countries are key factors contributing to the creation of lucrative market opportunities and growth prospects for market players in this region.
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Key Takeaways from Crawler Excavator Market Report:
- In 2018, the global market size stood at US$ 44,464.3 million.
- The market expanded at a CAGR of 2.5% from 2018 to 2022.
- In 2022, the global market size stood at US$ 49,080.3 million.
- The United States captured 13.5% of global market shares in 2022.
- India captured 2.8% of global market shares in 2022.
- China captured 3.0% of global market shares in 2022.
- The United Kingdom captured 2.8% of global market shares in 2022.
- The standard product type segment captured 51.3% of global market shares in 2022.
- The medium (2.00 to 4.00) bucket capacity segment acquired 23.3% of global market shares in 2022.
Key Players in the Global Market
- Tata Hitachi Construction Machinery (THCM)
- Bharat Earth Movers Limited (BEML)
- Komatsu
- JCB
- Doosan Excavator
- Caterpillar
- SANY
- Volvo Construction Equipment
- Kobelco Construction Equipment India
- Hyundai Construction Equipment
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Crawler Excavator Market Segmentation
By Product Types:
- Standard
- Hybrid
- Short Tail
- Super Long Front
By Bucket Capacity:
- Small (0.30 to 2.00)
- Medium (2.00 to 4.00)
- Large (Above 4.00)
By Operating Weight:
- 12,500 to 22,100 Kg
- 22,650 to 30,200 Kg
- 34,300 to 45,750 Kg
- 51,000 to 70,650 Kg
- 78,500 to 93,300 Kg
- Above 95,900 Kg
By End Use Vertical:
- Construction
- Mining
- Forestry & Agriculture
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
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