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The global excavator market is experiencing robust growth, driven by the burgeoning construction and infrastructure development activities worldwide. Excavators, versatile earthmoving equipment used for digging, trenching, and lifting heavy materials, play a pivotal role in various industries such as construction, mining, and agriculture. Increasing urbanization, population growth, and government investments in infrastructure projects, particularly in emerging economies, are fueling the demand for excavators.
Moreover, technological advancements in excavator design, including the integration of telematics, GPS tracking, and automation features, are enhancing machine efficiency, safety, and productivity. The market is witnessing a shift towards fuel-efficient excavators, driven by environmental regulations and the emphasis on sustainability, with hybrid and electric models gaining traction.
Asia-Pacific dominates the global excavator market, propelled by rapid urbanization and infrastructure development in countries like China, India, and Southeast Asian nations. North America and Europe also contribute significantly to market growth, driven by renovation and infrastructure modernization projects.
The rental market for excavators is expanding as construction companies and contractors opt for rental services to meet short-term project requirements while minimizing capital expenditure. Despite challenges posed by the COVID-19 pandemic, the excavator market has shown resilience and is poised for steady growth in the coming years, supported by recovering economic activities, infrastructure investments, and technological innovations.
The excavator market, a vital segment within the construction equipment industry, is experiencing substantial growth globally. Excavators, versatile heavy machinery used for digging, earthmoving, and material handling, are indispensable in various sectors such as construction, mining, and agriculture. The market is driven by factors such as urbanization, infrastructure development, and increasing construction activities worldwide.
Excavators are deployed in a wide range of applications, including building roads, digging trenches, demolishing structures, and handling materials, showcasing their versatility and utility across diverse industries.
With technological advancements, excavators have evolved to offer enhanced performance, efficiency, and safety features. Manufacturers are incorporating innovations such as telematics, GPS tracking, and automation to improve machine capabilities and optimize operations. Additionally, there is a growing emphasis on sustainability, leading to the development of fuel-efficient and eco-friendly excavators, including hybrid and electric models.
Amidst evolving market dynamics and increasing demand for infrastructure projects, the excavator market presents lucrative opportunities for manufacturers, suppliers, and stakeholders, driving innovation and growth in the construction equipment sector.
In the current tight economic environment, improving productivity in civil engineering construction works is vital. Due to its versatility and operability, hydraulic excavators currently dominate construction equipment fleets operating at most civil engineering work sites.
The requirements on greenhouse gas emission reduction have become more stringent to suppress global warming, and improvement in fuel economy is now an important issue also for hydraulic excavators.
The excavator market is witnessing several notable trends shaping its trajectory. One significant trend is the increasing adoption of advanced technologies in excavator design and functionality. Manufacturers are integrating features such as telematics, GPS tracking, and automation to enhance machine performance, productivity, and safety.
These technological advancements enable real-time monitoring of equipment, predictive maintenance, and improved operational efficiency, meeting the evolving needs of customers and regulatory requirements.
Another trend is the growing demand for fuel-efficient and environmentally sustainable excavators. With a rising focus on sustainability and emissions reduction, manufacturers are developing hybrid and electric excavator models that offer lower fuel consumption and reduced environmental impact. These eco-friendly excavators are gaining traction, particularly in urban areas and projects with stringent emission regulations, driving innovation and market growth.
Additionally, there is a shift towards compact and versatile excavator designs tailored for urban construction and confined worksites. Compact excavators offer increased maneuverability and accessibility in tight spaces, making them ideal for urban infrastructure projects and indoor applications. As urbanization continues to drive construction activities in densely populated areas, the demand for compact excavators is expected to rise, influencing market trends and product development strategies.
Furthermore, there is a growing emphasis on customization and specialization in the excavator market. Manufacturers are expanding their product portfolios to offer a wide range of excavator configurations and attachments tailored to specific applications and customer requirements. This customization allows contractors to optimize machine performance and versatility for diverse job site challenges, driving customer satisfaction and market competitiveness.
Overall, these trends underscore the dynamic nature of the excavator market and the continuous evolution of excavator technology to meet the changing needs of end-users and industry demands.
The excavator market has witnessed recent developments and innovations from leading companies such as Tata Hitachi, Schwing Stetter, JCB, and CASE Construction Equipment. Tata Hitachi introduced the ZX670H mining excavator, emphasizing durability, efficiency, simplicity of maintenance, and safety.
Equipped with an eco-friendly EPA Tier II engine and various bucket options for maximum efficiency, the ZX670H ensures endurance through features like a rock-solid front attachment and an upgraded undercarriage. Safety is prioritized with compliance to DGMS rules, integrated overhead guard, and an ISO-certified FOPS cabin, ensuring operator comfort and fatigue reduction.
Schwing Stetter introduced the XCMG hydraulic excavator and wheel loader series, including the XE215i-K LC – 25T and XE140i-K HD – 14T hydraulic excavators. These machines offer enhanced features such as longer tracks for optimum grip, heavier and faster operation, and increased lifting capacity compared to previous generations.
JCB unveiled three new excavators, including the JCBNXT 225LC M, JCB315LC HD, and JCB385LC, designed for infrastructure, mining, and quarrying applications. Featuring heavy-duty dig-ends, powerful engines, and advanced monitoring systems like Intellicontrol and Advanced Livelink, these excavators ensure high uptime, low maintenance, and operator comfort.
CASE Construction Equipment launched the CX220C crawler excavator, designed for demanding applications in earthworks, quarries, road building, and general construction. With a strong and fuel-efficient FPT Industrial engine, the CX220C promises productivity and reliability. These recent developments and innovations in the excavator market reflect a commitment to performance, efficiency, safety, and operator comfort, catering to diverse application needs and industry demands.
The Tata Hitachi ZX670H which has eco-friendly EPA Tier II engine powers. The strong engine is made to easily handle the most difficult tasks at any mining location. Maximum efficiency is what the ZX670H’s several bucket options guarantee. Due to the optimal loading provided by these precisely matched buckets, both the excavator and the dumper are more productive.
The ZX670H’s endurance is ensured by features like a rock solid front attachment, an upgraded undercarriage, a stronger boom and arm, and a fuel injector that is DLC coated. These features enable the machine to resist extended working hours in difficult and demanding working circumstances.
The brand-new ZX670H puts safety first above all else. The design of this machine and its inclusion of all required safety elements guarantee that it complies fully with DGMS rules.
Additionally, the ZX670H includes an integrated overhead guard and an ISO certified FOPS cabin to help assure operator safety. The safe and cozy cabin is made with the operator’s fatigue in mind.
The first one,the XE215i-K LC – 25T features a longer track for the optimum grip and is furnished with 9 rollers. One of the few companies on the market that offers 9 rollers in this niche is Schwing Stetter.
The second one, the XE140i-K HD – 14T, is a brand-new machine created specifically for use in quarries. Compared to the previous generation, it is both heavier and faster.
The latest wheeled loaders include the 3.3T ZL33FV and the 5.5T ZL55GV. The ZL33FV is a 3.3T BS4 wheel loader from the current era. This is a strong machine that can lift more weight than the 3T wheel loader from earlier generations.
The premium line, a new series, includes the JCBNXT 225LC M, JCB315LC HD, and JCB385LC. They are able to operate quarries, mines, and undertake extensive earthwork applications. NXT 225 LC JCB. The JCBNXT 225LC M has a heavy-duty dig-end for the highest level of durability, resulting in long uptime and lower repair costs.
The machine is propelled by a 148 horsepower, inline fuel injection engine from Cummins. This fuel system greatly facilitates maintenance and repair simplicity. Because it has an enhanced service interval of increased hours for engine oil and hydraulic oil, the JCB NXT 225LC M requires less maintenance as well.
This is a modern device featuring Intellicontrol and Advanced Livelink for user convenience, remote monitoring, and security. To guarantee high uptime, Intellicontrol keeps an eye on the machine’s maintenance and operation parameters. It supports decision-making by operators by providing feedback on performance in real-time and using data from scientific studies. For the comfort of the operator, the equipment comes equipped with air conditioning.
The CX220C has a strong and dependable FPT Industrial engine to guarantee great productivity with little fuel use. The product, which is best suited for earthworks, stone quarries, road building, and general construction, will be commercialized in the Indian subcontinent as well as other Asian and African countries from launch.
The North American market, particularly the USA, will be one of the prime markets for (Excavator Market) due to the nature of industrial automation in the region, high consumer spending compared to other regions, and the growth of various industries, mainly AI, along with constant technological advancements. The GDP of the USA is one of the largest in the world, and it is home to various industries such as Pharmaceuticals, Aerospace, and Technology. The average consumer spending in the region was $72K in 2023, and this is set to increase over the forecast period. Industries are focused on industrial automation and increasing efficiency in the region. This will be facilitated by the growth in IoT and AI across the board. Due to tensions in geopolitics, much manufacturing is set to shift towards the USA and Mexico, away from China. This shift will include industries such as semiconductors and automotive.
The European market, particularly Western Europe, is another prime market for (Excavator Market) due to the strong economic conditions in the region, bolstered by robust systems that support sustained growth. This includes research and development of new technologies, constant innovation, and developments across various industries that promote regional growth. Investments are being made to develop and improve existing infrastructure, enabling various industries to thrive. In Western Europe, the margins for (xx) are higher than in other parts of the world due to regional supply and demand dynamics. Average consumer spending in the region was lower than in the USA in 2023, but it is expected to increase over the forecast period.
Eastern Europe is anticipated to experience a higher growth rate compared to Western Europe, as significant shifts in manufacturing and development are taking place in countries like Poland and Hungary. However, the Russia-Ukraine war is currently disrupting growth in this region, with the lack of an immediate resolution negatively impacting growth and creating instability in neighboring areas. Despite these challenges, technological hubs are emerging in Eastern Europe, driven by lower labor costs and a strong supply of technological capabilities compared to Western Europe.
There is a significant boom in manufacturing within Europe, especially in the semiconductor industry, which is expected to influence other industries. Major improvements in the development of sectors such as renewable energy, industrial automation, automotive manufacturing, battery manufacturing and recycling, and AI are poised to promote the growth of (Excavator Market) in the region.
Asia will continue to be the global manufacturing hub for (Excavator Market) over the forecast period with China dominating the manufacturing. However, there will be a shift in manufacturing towards other Asian countries such as India and Vietnam. The technological developments will come from China, Japan, South Korea, and India for the region. There is a trend to improve the efficiency as well as the quality of goods and services to keep up with the standards that are present internationally as well as win the fight in terms of pricing in this region. The demand in this region will also be driven by infrastructural developments that will take place over the forecast period to improve the output for various industries in different countries.
There will be higher growth in the Middle East as investments fall into place to improve their standing in various industries away from petroleum. Plans such as Saudi Arabia Vision 2030, Qatar Vision 2030, and Abu Dhabi 2030 will cause developments across multiple industries in the region. There is a focus on improving the manufacturing sector as well as the knowledge-based services to cater to the needs of the region and the rest of the world. Due to the shifting nature of fossil fuels, the region will be ready with multiple other revenue sources by the time comes, though fossil fuels are not going away any time soon.
Africa is expected to see the largest growth in (Excavator Market) over the forecast period, as the region prepares to advance across multiple fronts. This growth aligns with the surge of investments targeting key sectors such as agriculture, mining, financial services, manufacturing, logistics, automotive, and healthcare. These investments are poised to stimulate overall regional growth, creating ripple effects across other industries as consumer spending increases, access to products improves, and product offerings expand. This development is supported by both established companies and startups in the region, with assistance from various charitable organizations. Additionally, the presence of a young workforce will address various existing regional challenges. There has been an improvement in political stability, which has attracted and will continue to attract more foreign investments. Initiatives like the African Continental Free Trade Area (AfCFTA) are set to facilitate the easier movement of goods and services within the region, further enhancing the economic landscape.
RoW
Latin America and the Oceania region will showcase growth over the forecast period in (Excavator Market). In Latin America, the focus in the forecast period will be to improve their manufacturing capabilities which is supported by foreign investments in the region. This will be across industries mainly automotive and medical devices. There will also be an increase in mining activities over the forecast period in this region. The area is ripe for industrial automation to enable improvements in manufacturing across different industries and efficiency improvements. This will lead to growth of other industries in the region.
USA – $210 billion is allocated to federal R&D with main focus on health research, clean energy, semiconductor manufacturing, sustainable textiles, clean energy, and advanced manufacturing. Investments by private players are mainly focused on technological development including 5G infrastructure and AI in the region.
Europe – EIC is investing €1 billion to innovative companies in sectors like AI, biotechnology, and semiconductors. There is also a focus on developing the ecosystem in the continent as well as improving the infrastructure for developing industries such as electric vehicles and sustainable materials. Private players are targeting data centers, AI, battery plants, and high end technological R&D investments.
Asia – There are investments to tackle a range of scientific and technological advancements in this region mainly coming in from China, India, South Korea, and Japan. This will include artificial intelligence, 5G, cloud computing, pharmaceutical, local manufacturing, and financial technologies. Many countries are aiming to be digital hubs including Saudi Arabia.
Africa – Investments in the region are focused on improving the technological capabilities in the region along with socio-economic development and growth. Private participants of investments in this region is venture capital dominated who are targeting the various growth elements of the region as social stability improves. The major industries are fintech, easier lending, and manufacturing.
Latin America – The focus in the region is for fintech, e-commerce, and mobility sectors. There are also investments in improving manufacturing in the region. Local investments is focused on improving the healthcare, and transportation infrastructure in the region. The region is attracting foreign investments to improve their ability to utilize the natural resources present in the region.
Rest of the World – The investments in this region are focused on clean energy, green metals, and sustainable materials. Funds in Australia are focused on solar energy and battery technologies, along with high end futuristic areas such as quantum computing. The main countries of private investment in ROW will be Australia, Canada, and New Zealand.
Excavator sales are often used to analyze construction activity in a country. Sales of excavators are also a reflection of the country’s economic growth momentum, with infrastructure projects playing an important part in GDP growth.
In the next 1-2 years, excavators will be widely used in construction work, including both traditional infrastructure projects such as roads and bridges, and new-model infrastructure programs such as 5G signal towers, charging stations for electric vehicles and urban renewal.
Further, Major players export excavators to the Middle East and Africa as well as other countries with a key global trend being modern machines and connectivity. About 30 percent of the machines are fitted with telematics on site that could ascertain fuel efficiency, health check of the engine, transmission, how the machine has worked, and access all information online.
This telematics trend is set to capture the Indian market in a couple of years giving competition to Europe and Japan. The construction equipment manufacturers make use of diesel as a fuel for the majority of excavators for use in the industrial sector. To limit the use of natural resources and emissions in the air due to the ignition of engines in heavy equipment such as excavators, governments across the world are incorporating emission regulations and norms.
The Global Technical Regulations provide a worldwide standardised method to determine the emission of gaseous compounds, particle emission and number, fuel consumption, energy consumption as well as a range of electric equipment vehicles.
The regulatory authorities have been under scrutiny mainly in Europe, Japan and USA from equipment manufacturers to harmonise the emission standard which will streamline the development of engines and equipment. The European Commission has proposed the most stringent emission standards for non-road machinery, making it difficult for manufacturers to meet the standards.
Hyundai Construction Equipment in collaboration with Cummins Incorporation has announced the development of a 100% electric excavator prototype which is set to utilise the company’s latest technologies such as the Li-ion technology for the manufacture of mini excavators.
The company C. Bamford excavators announced the development of a fully electric 1.9-ton mini excavator named 19C-1 E-Tec. The machine will consist of three lithium-ion battery packs as well as an electric motor.
Caterpillar incorporation announced the incorporation of the company’s latest Cat Connect Technology in the design of the next generation 20-ton series of excavators, the 320 GC, 320 and 323 which will inhibit improved efficiency, reducing operating costs and improved productivity.
Doosan Group’s subsidiary Bobcat, announced the launch of its new excavator named E85 which is the largest machinery launch by the company. The new addition is set to expand the company’s portfolio of R-series compact excavators. The machine weighs 8.5-ton with enhanced performance, uptime protection features and operator comfort, with estimation to establish a stronger uphold in the North American market.
Hitachi Construction announced the launch of the company’s new generation mining excavators named the EX 7 series with which the company has plans to introduce the Internet of Things for the mining industry. The series is set to include excavators from a size range of 100-tons to 800-tons. The excavators will also include features such as connectivity, safety and productivity suiting mining-specific applications.
Kato Works, which is a Japanese construction equipment manufacturer, launched new conventional excavators as well as compact tail excavators. The machines are integrated with environment-friendly EU Stage 4/ EPA Tier 4 compliant engines. The company has launched these new models with environment-friendly features and enhanced performance to expand its business.
Liebherr launched Electric Excavators for Quarry Work. The R 976-E electric crawler excavator, along with the R 980 SME-E, replace the ER 974 B for mine and quarry extraction. The electric excavators are produced by Liebherr-France SAS. Both the excavators and their electric power system were designed and produced entirely by Liebherr.
Volvo Construction Equipment launched Volvo Active Control, an automated grading machine control system for its EC220E, EC250E and EC300E crawler excavators. The system allows operators to get the right depth and angle, reducing grading times by up to 45 percent. The new EC300E Hybrid hydraulic excavator from Volvo Construction Equipment has the new hybrid system, takes load off the engine, and in the process, delivers up to 15 percent lower fuel consumption and 12 percent less carbon dioxide emissions, compared with a conventional machine.
The three Hyundai entities have signed a memorandum of understanding to develop hydrogen-powered medium and large hydrogen-powered excavators, with a 2023 mass production and distribution target deadline. Hyundai Motors and Hyundai Mobis will design and manufacture hydrogen fuel cell systems, including power packs, and Hyundai Construction Equipment will design, manufacture and evaluate the performance of excavators.
Hyundai Construction Equipment is introducing three EU Stage V compatible A-Series crawler excavators in the popular 13-15 tonne market, providing rental firms and contractors with new levels of performance, efficiency, and productivity. The reduced tailswing HX130A LCR, conventional HX140A L, and reduced swing HX145A LCR, all powered by Cummins diesel engines, have improved hydraulic control for increased productivity and uptime.
The Eco Report function aids the operator in increasing productivity and lowering fuel use. Through engine rpm reduction, power boost action, and pump flow control, the new Lifting Mode improves fine hydraulic control. Intelligent Power Control (IPC) has been upgraded to adjust the hydraulic pump flow rate and power to the machine’s working conditions.
Case Construction Equipment has introduced its new E-Series crawler excavator line, which includes seven new models ranging in weight from 13 to 30 tonnes. The new excavators will have improved hydraulic controls and settings, as well as a better cab design and operator experience. All seven variants of the E-Series will feature Stage V engines. All E-Series models can run on standard or alternative fuels, including hydrogenated vegetable oils, thanks to the new FPT Stage V engines’ flexible fueling solutions.
The new machines will come with a complete fleet management tool, including a bidirectional modem that enables the use of Case SiteConnect and Case SiteWatchTM, both of which will be included as standard.
With the world moving towards electric mobility, the leading developers of excavators and construction equipment are trying to develop technologies to reduce carbon footprint by launching electric excavators which meet with the customer requirements as well as abide by the evolving regulations delivering machines with higher efficiency, reduced costs, lower noise as well as low/zero emissions.
Volvo Construction Equipment announced the use of a cable connected and dual powered 70-ton excavator prototype named EX1 for the company’s electric site research project. It is estimated to reduce carbon emission by 98%, operational costs by 40% and energy costs by 70%. The company is working on the experiment along with a Swedish construction as well as a development company, Skanska AB.
Hitachi Construction Machinery announced the adoption of strategies in the company’s business model which will multiply the production of electric construction machinery across the European Union. The company is implementing these strategies with a strategic agreement with KTEG Kiesel Technologie Entwicklung GmbH which is a technology company based in Germany.
Hitachi Construction Machinery invested in an Australian startup named Baraja where the company is set to make use of Baraja’s spectrum scan LiDAR technology to accelerate the development of the autonomous haulage system for dump trucks and autonomous operation of ultra-large hydraulic excavators.
Liebherr announced the development of an advanced driver assistance system and on-board analytics solution to assist site operations to achieve higher safety, maintenance and overall efficiency and effectiveness.
John Deere recently introduced factory-integrated 2D and 3D Grade Guidance as an option on the 470G LC excavator, The largest excavator to feature this solution The system provides operators with the elevation and position of the bucket cutting edge relative to the target plane with 2D, or to the design surface with 3D.
Grade Guidance is ideal for precision excavation projects, such as digging trenches for pipes, shaping ditches or slopes or digging structural foundations.
Komatsu’s new large excavators, the PC1250SP-11 and PC1250LC-11, feature a 13 percent boost in horsepower to 758 and deliver a 9 percent increase in production. The PC1250SP-11 has a shorter carriage and arm. Komtrax Plus is standard on both, and the Iridium Communications platform provides richer information.
Wacker Neuson’s ET145 conventional tail-swing model has operating weights in excess of 16 metric tons, depending on the configuration. It retains some features of a compact machine, including a swing boom, switchable ISO and SAE control patterns and a standard dozer blade. But it also has features found in larger excavators, such as a standard cab with heating and air conditioning and dual variable hydraulic pumps
SmartGrade delivers the highest level of technology, which John Deere currently offers on its excavators. The other choices include SmartGrade-Ready with 2D, 3D Grade Guidance, and 2D Grade Guidance. With four levels of technology, contractors can choose the one that makes sense for their operations. And upgrade kits are available for each option.
SmartGrade operators can set parameters that amount to a virtual protective cube: limits are set in two different ways using Deere’s Virtual Front, Ceiling, Floor, Wall and Swing features.
The global excavator market was valued at $ XX billion in 2024, and is projected to reach $ XX billion in 2024, with a compound annual growth rate (CAGR) of YY % from 2024 to 2030
Caterpillar introduced the new Cat 350 excavator. The new fixed-gauge Cat 350 excavator can be outfitted with big buckets up to 3.2 m3 (4.2 yd3) for class-leading productivity thanks to its high digging force and robust swing torque.
In order to minimise expenses, lower CO2 emissions, and run more sustainably, the 350 uses up to 13% less fuel than the Cat 349 while yet being just as productive. To further cut down on fuel usage, three power mode choices—Smart, Power, and Eco—align the excavator to the task at hand.
The Cat 2D Grade system, which is a standard feature on the new 350 excavator, displays depth and slope information on the monitor along with alarms to improve operational effectiveness.
With just one lever, Grade Assist makes it simple for the operator to dig on grade.Swing Assist automatically halts the excavator swing for truck loading and trenching applications at operator-defined setpoints to save fuel.
By letting the operator know the weight is within safe working range limitations, Lift Assist helps prevent machine tipping. The 2D E-Fence stops the excavator from moving beyond the operator-defined set points, allowing it to safely manoeuvre around obstacles.
Cat Payload’s onboard weighing system provides real-time weight estimates that help the company meet its efficiency goals and load targets. Payload provides remote management of production targets when paired with VisionLink.
Instead, fleet managers can use the monitor’s USB port to download up to 30 days’ worth of work for progress management without using the internet or a VisionLink membership.
Cat Grade with Advanced 2D, which enables the creation and editing of grade designs via a second high-resolution touchscreen monitor, and Cat Grade with 3D, which enables the creation and editing of designs on the second monitor as well as the ability to view the full range of motion for the front linkage, are two examples of the in-cab grade technology improvements that are available.
With radios and base stations from reputable outside technology vendors, all Cat Grade systems are interoperable. Its long-term dependability has been demonstrated by the Cat C9.3B engine’s more than 14 million service hours. Service intervals for fuel and oil filters of 1,000 hours are synchronised to minimise downtime.
In comparison to the previous design, the hydraulic oil filter’s 3,000-hour replacement period is a 50% improvement in filtration efficiency. The maximum altitude at which the 350 can operate is 4500 m (14,764 ft). It is capable of cold starting at -18 C (0 F) and high ambient temperatures up to 52 C (126 F) as standard, with a cold start capability of -32 C (-25 F) as an option.
The equipment works more quickly and has a longer lifespan when the hydraulic system automatically warms up when it is cold outside. High-capacity double-element air intake filters with pre-cleaners and an optional automatic reverse function are both provided by the machine’s high-efficiency hydraulic fan, which also helps to keep the cores clean.
Deere & Company, which is the leading manufacturer of construction equipment in America, announced a supplier partnership with Wacker Neuson, which is a supplier and distributor of construction equipment based in Germany. The company has plans to provide the Asian market with compact excavators to capitalize on the lucrative business opportunities in China, Oceania as well as Southeast Asia.
Caterpillar recently announced the financial results for the second quarter of the year 2021 with sales and revenue worth $12.9 billion which was an increase by 29% from the revenue of the same term last year which reported $10 billion.
Hitachi Construction Machinery announced in August 2021, that they have dissolved the joint venture alliance with Deere, the construction machinery giant. Upon the dissolution of the agreement from March 2022, the company will be able to provide new products and technologies directly to customers through an independent dealer network across north, central and south America.
The company recently announced the financial results for the first quarter of the fiscal year 2022 with revenue worth $2.08 billion which was a 34.1% increase from the revenue recorded for the same term last year worth $1.5 billion.
Doosan Heavy Industries and construction has entered a contract with X-energy based in the US, which is developing a high-temperature gas-cooled reactor. The agreement is set to perform engineering service for manufacturing study of the equipment.
The company will support the agreement by performing a study for optimum design. The company has also signed a contract with China Technology company which is a subsidiary of the state-owned energy corporation CGN. According to the agreement, the company will supply industrial anti-seismic protection systems that will be installed at Tianwan units 7&8.
Liebherr, which is the largest company manufacturing construction and mining equipment, has entered into an agreement with ABB, the leader of automation and electrification. The two companies have signed a memorandum of agreement according to which they will develop solutions for the electrification of construction and mining equipment to reduce greenhouse gases and emissions associated with using heavy machines.
The company has also partnered with Hexagon to deliver the next generation software and autonomous technology for construction and mine automation. The company released its report for the fiscal year 2021 which reported a total sales of EUR 10,341 million which was a decline of 12% representing EUR 1,409 million declines for the sales reported for the fiscal year 2020.
The company also invested about EUR 512 million in the research and development department with the main focus on the development of new products and technologies.
Komatsu and Honda have reached a basic joint-development agreement to electrify Komatsu’s micro excavators, which use the swappable Honda Mobile Power Pack (MPP), and establish a battery-sharing system, which uses the Honda MPP and enables mutual use of MPPs among different construction equipment and other equipment.
Caterpillar 302.7 CR, Cat 303 CR, and Cat 303.5 CR mini excavators are built on the company’s Next Generation platform and replace existing models 302.7D, 303E, and 303.5E2. Operating weights are in the 2.7-to-3.5-tonne range, and the mini excavators are powered by 24.7-horsepower engines. Dig depths range from 96.5 inches to 110.6 inches.
Komatsu has signed a collaboration agreement with Proterra to receive the supply of Proterra’s battery systems with the aim of having Komatsu electrify its small and medium-sized hydraulic excavators.
Through its Proterra Powered program, the company delivers its battery systems and electrification solutions to help heavy-duty and commercial vehicle manufacturers around the world electrify their vehicles.
JCB North America has been awarded another contract to supply the U.S. military with a fleet of specialized high-speed excavators. JCB will supply High Mobility Engineer Excavators (HMEEs) for the U.S. Army and U.S. Marine Corps over the next eight years. The contract could garner up to $269 million.
The 18-metric-ton JCB 150X features the spacious CommandPlus cab and a fully welded X-frame undercarriage. The most popular configuration has 24-inch steel tracks, a 9-foot-10-inch thumb-ready mono boom and a 109-hp engine.
John Deere has chosen two of its most popular excavator models – the 210G and 350G – to receive its top-of-the-line SmartGrade technology option, expanding the range of grade-control choices for contractors.
Using GNSS positioning technology, SmartGrade accurately guides the horizontal and vertical position of the boom and bucket to a precise 3D design target. Operators can then concentrate on controlling the arm while the system raises and lowers the boom to maintain grade.
Cat’s 349 and 352 excavators offer up to 45 percent more operating efficiency, up to 10 percent more fuel efficiency, and up to 15 percent less maintenance costs compared with previous F series models of the two machines, according to Caterpillar.
