GLOBAL EXCAVATOR MARKET
- Caterpillar, Komatsu and John Deere have a combined 30% market share in the Global construction equipment industry.
- Crawler excavators account for ~35% market share in total sales of construction equipment globally.
- In the first 3 months of 2021, China’s leading excavator makers sold a total of 126,941 units of excavators.
- China’s sales of excavators and other heavy machinery for both domestic and export customers soared by 39% on year to reach 327,605 units in 2020 according to China Construction Machinery Association (CCMA).
- Construction equipment sales in North America and Europe fell 16% and 6.4% in 2020.
- In India, L&T Komatsu and Tata Hitachi were the top two brands of excavators who had about 37% and 32% market share respectively.
- The Indian government is taking action to reform procedures and policies such as the introduction of the Real Estate (Regulation and Development) Bill, along with the speeding up of environmental issues, forest clearances and land acquisition issues to boost infra development.
- The rise in popularity of mini excavators had an impact on North America’s trade dynamic, turning the region very firmly into a net importer of construction equipment.
- As the mini excavator’ production was low in North America, most of the machines sold in the region were imported from Japan.
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.
EXCAVATOR MARKET SEGMENTATION
By Application Type
By Product Type
- Mini/Compact Excavators
- Crawler Excavators
- Wheeled Excavators
- Rest of the World
EXCAVATOR MARKET DYNAMICS
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.
POPULAR EXCAVATOR MODELS, BY REGION
|1||Tata Hitachi – EX210 LC|
|2||JCB – 380LC Quarry Master|
|3||Hyundai – 215L Smart Plus|
|4||Volvo – EC210DL|
|5||L&T Komatsu – PC210-8 and PC 300|
|2||John Deere 85G|
|3||John Deere 210G LC|
|5||Komatsu PC138USLC, PC360LC and PC210LC|
NEW PRODUCT DEVELOPMENT IN EXCAVATOR MARKET
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.
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.
Power Output in Excavators, by Major Markets
|SL No||Excavator Type||U.S||Europe||India|
|1||Mini/Compact||14 – 147 H.P||12.8 – 75 H.P||24.9 – 76 H.P|
|2||Crawler Excavators||115 – 672 H.P||102 – 602 H.P||76 – 302 H.P|
|3||Wheeled Excavators||103 – 173 H.P||116 – 175 H.P||135 – 172 H.P|
EXCAVATOR MARKET SIZE AND FORECAST
The Global Excavator market is estimated at $XX Billion in 2020, growing at XX% CAGR till 2026.
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.
- Caterpillar Inc
- CNH Industrial NV
- Doosan Heavy Industries and Construction Co Ltd
- Hitachi Construction Machinery Co Ltd
- JC Bamford Excavators Ltd
- Kawasaki Heavy Industries Ltd
- Komatsu Ltd
- Liebherr-International AG
- Escorts Limited
- Deere & Company
- Kobelco Construction machinery Co. Ltd.
- Hyundai Construction Equipment & Co.
- Volvo Construction Equipment AB