Global Excavator Market 2024-2030

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    1. The global excavator market has experienced significant growth in recent years, driven by increased construction and infrastructure development activities worldwide.
    2. Rising urbanization, population growth, and government investments in infrastructure projects are primary drivers fueling the demand for excavators across various sectors such as construction, mining, and agriculture.
    3. Excavator manufacturers are increasingly integrating advanced technologies such as telematics, GPS tracking, and automation features to enhance machine efficiency, safety, and productivity.
    4. With a growing emphasis on sustainability and environmental regulations, there’s a trend toward the development of fuel-efficient excavators, including hybrid and electric models, to reduce emissions and operating costs.
    5. The rental market for excavators is witnessing significant growth as contractors and construction companies prefer renting equipment to meet short-term project requirements while minimizing capital expenditure.
    6. Emerging economies in Asia-Pacific, particularly China and India, are experiencing rapid urbanization and infrastructure development, driving the demand for excavators in the region.
    7. The global excavator market is highly competitive, with key players competing based on product innovation, pricing strategies, and after-sales services.
    8. Excavators find applications in various sectors, including construction, mining, forestry, and agriculture, with each segment having specific requirements and demand drivers.
    9. The Asia-Pacific region dominates the global excavator market, followed by North America and Europe, owing to infrastructure development initiatives and construction activities in these regions.
    10. Caterpillar, Komatsu and John Deere have a combined 30% market share in the Global construction equipment industry.
    11. Crawler excavators account for ~35% market share in total sales of construction equipment globally.
    12. In the first 3 months of 2021, China’s leading excavator makers sold a total of 126,941 units of excavators.
    13. 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).
    14. Construction equipment sales in North America and Europe fell 16% and 6.4% in 2020.
    15. In India, L&T Komatsu and Tata Hitachi were the top two brands of excavators who had about 37% and 32% market share respectively.
    16. 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.
    17. 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.
    18. As the mini excavator’ production was low in North America, most of the machines sold in the region were imported from Japan.
    19. Hyundai Construction Equipment in collaboration with Cummins Incorporation has announced the development of a 100% electric excavator prototype.
    20. 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.
    21. Liebherr announced the development of an advanced driver assistance system and onboard analytics solution.
    22. Kato Works, which is a Japanese construction equipment manufacturer, launched new conventional excavators as well as compact tail excavators. 



    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.


    infographic: Excavator Market, Excavator Market Size, Excavator Market Trends, Excavator Market Forecast, Excavator Market Risks, Excavator Market Report, Excavator Market Share


    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.




    S No Company Name Development
    1 Tata Hitachi Launched by Tata Hitachi is the brand-new ZX670H mining excavator. This is created with the utmost durability, unparalleled efficiency, simplicity of maintenance, affordability of operation, optimum safety, and comfort in mind.
    2 Schwing Stetter Leading manufacturer of concreting and construction equipment, Schwing Stetter India, has introduced the XCMG hydraulic excavator and wheel loader. The XE215i-K LC – 25T hydraulic excavator and the XE140i-K HD – 14T hydraulic excavator are two examples of the new line of hydraulic excavators.
    3 JCB  JCB India recently unveiled three new excavators for use in infrastructure, mining, and quarrying applications. The JCB India factory in Pune, Maharashtra, will construct these machines, which will afterwards be sold not only in India but also on international markets.
    4 CASE  The eagerly anticipated CX220C crawler excavator has finally been released by CASE Construction Equipment, a brand of CNH Industrial. The CASE CX220C is specifically developed for the most demanding applications. 


    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 JCB385LCThey 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.




    Excavator Market By Application:

    1. Construction
    2. Mining
    3. Agriculture
    4. Forestry
    5. Others (such as landscaping, demolition, and material handling)


    Excavator Market By End-Use Industry:

    1. Construction
    2. Mining
    3. Agriculture
    4. Forestry
    5. Rental & Leasing
    6. Others (such as oil & gas, utilities, and infrastructure)


    Excavator Market By Type:

    1. Mini Excavators
    2. Small Excavators
    3. Medium Excavators
    4. Large Excavators


    Excavator Market By Propulsion Type:

    1. Hydraulic Excavators
    2. Electric Excavators
    3. Hybrid Excavators
    4. Others (such as cable-operated excavators)


    Excavator Market Geographic Segmentation:

    1. North America
    2. Europe
    3. China
    4. Asia Ex China
    5. ROW




    SI No Timeline Developments
    1 Q4-2021 Hitachi Construction Machinery Americas Inc revealed its first six Hitachi ZX210LC-6 utility hydraulic excavators, for the North American market from Hitachi Construction Machinery Tsuchiura Works in Japan.
    2 Q4-2021 Sany India expands its excavator market in India by adding 11 more dealers in Union Territory Jammu and Kashmir for the excavator sales, service and spare parts business. 
    3 Q3-2021 International manufacturer of excavators Mecalac added its new dealer for its distribution network, in the UK and Ireland regions. 
    4 Q3-2021 Researchers from Baidu Research Robotics and Auto Driving Lab and the University of Maryland, College Park showcased Terrain Traversability Mapping(TTM) at MINExpo 2021. The TTM is developed for the real-time mapping approach for autonomous navigation of excavators on complex terrains. 
    5 Q2-2021 Volvo expands its hybrid excavator market by adding two new models of 25 tonne class EC250E Hybrid and 35 tonne class EC350E Hybrid and also enhanced powertrain off 30 tonne class EC300E Hybrid excavator. 


    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.


    infographic: Excavator Market, Excavator Market Size, Excavator Market Trends, Excavator Market Forecast, Excavator Market Risks, Excavator Market Report, Excavator Market Share


    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.






    SL No Models
    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




    SL No Models
    1 Caterpillar 336
    2 John Deere 85G
    3 John Deere 210G LC
    4 Caterpillar 320
    5 Komatsu PC138USLC, PC360LC and PC210LC



    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.


    Power Output in Excavators market, 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



    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.




    SI No Timeline Company Developments
    1 Q4-2021 Doosan Doosan Heavy Industries and Construction Co Ltd launched its DX165WR-7 excavator is a reduced radius wheeled Stage V compliant wheeled machine designed for jobs in tight spaces.
    2 Q4-2021 Sany Heavy Industry Co. Chinese heavy equipment manufacturer Sany Heavy Industry Co., introduced its SY215C Stage V excavator with improved features and benefits.
    3 Q3-2021 JCB JCB launched its 245XR model of reduced swing X – Series excavator with more operator comfort, stability, productivity, efficiency and serviceability.  
    4 Q3-2021 Caterpillar Caterpillar Inc launched new generation primary and secondary pulverizer attachments parts for excavators from 18 tonnes to 50 tonnes. 
    5 Q3-2021 Deere Deere and Hitachi to end its joint venture agreement after 30 years of manufacturing excavators in North and South America. 
    6 Q2-2021 Komatsu Limited Komatsu’s new PC5500-11 hydraulic excavator designed for mining operations that deliver productivity and longevity. The excavator is equipped with two Tier 4 engines that deliver plenty of power with sustainability by reducing sulphur oxides and NOx in its after-treatment exhaust system. 
    7 Q2-2021 Kato US based compact excavator producer Kato to reveal its 50V5 mini excavator at 2021 World of Concrete with some new features. 
    8 Q2-2021 Deere Deere introduced Smart Grade system for its excavators, the 3D SmartGrade systems are installed in 210G LC and 350G LC excavators for increased productivity and accuracy on the job. 




    SI No Timeline Company Developments
    1 Q4-2021 Komatsu Limited  Komatsu Limited global sales increased by 35% year over year, in the first half of the year due to demand for new equipment and advanced sales of parts and services. 
    2 Q4-2021 Sany Leading manufacturers and suppliers of Construction Machinery, Sany sold more than 98,705 excavators around the globe in 2020, with 15% market share
    3 Q4-2021 CNH Industrial The Italian construction equipment manufacturer Sampierana is acquired by CNH Industrial for a deal of EUR 101.8 million to accelerate its construction equipment business
    4 Q4-2021 Caterpillar Caterpillar revenue increased in the second quarter due to rising demand for equipment machinery by clocking revenue of $12.89 billion with sales rising 40% year over year
    5 Q1-2021 L&T L&T Construction & Mining Machinery recorded more than 1,000 machines sales of Komatsu PC210-10M0 hydraulic excavators in less than 9 months of its launch


    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.



    1. Caterpillar Inc.
    2. Komatsu Ltd.
    3. Hitachi Construction Machinery Co., Ltd.
    4. Volvo Construction Equipment
    5. Hyundai Construction Equipment Co., Ltd.
    6. Doosan Infracore Co., Ltd.
    7. JCB (J.C. Bamford Excavators Ltd.)
    8. Liebherr Group
    9. Sany Group
    10. Kubota Corporation



    1. What is the current size and forecast of the Excavator Market, segmented by region and application (construction, mining, agriculture, etc.)?
    2. provide insights into the average business-to-business (B2B) price for Excavator Market, categorized by region and per user?
    3. What are the latest technology trends in the Excavator Market, and what opportunities do they present for new tech suppliers?
    4. How is the market share distributed among the leading vendors in the Excavator Market, categorized by region?
    5. What has been the impact of the coronavirus pandemic on the earnings of the Excavator Market, and how are industry players adapting to these challenges?
    6. How are advancements in automation, electrification, and telematics influencing the development and adoption of excavator technologies?
    7. highlight any emerging applications or niche segments within the Excavator Market that show significant growth potential?
    8. What are the key drivers and restraints shaping the growth trajectory of the Excavator Market in different regions?
    9. How do factors such as infrastructure development, urbanization, and government initiatives impact the demand for excavators globally?
    10. Are there any regulatory or environmental standards that govern the design, manufacture, and operation of excavators, and how do they vary across regions?
    11. provide insights into the competitive landscape of the Excavator Market, including strategies adopted by key players to gain a competitive edge?
    12. What are the key challenges faced by excavator manufacturers, suppliers, and service providers, and how are they addressing these challenges?
    13. How are sustainability and fuel efficiency considerations influencing the design and adoption of excavators, particularly in environmentally sensitive regions?
    14. Are there any notable innovations or disruptive technologies expected to revolutionize the Excavator Market in the near future?
    15. What are the emerging market opportunities for excavator manufacturers and service providers in developing regions or untapped market segments?
    16.  provide a forward-looking outlook for the Excavator Market, including anticipated growth trends, investment opportunities, and potential risks?
    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Research Methodology
    4 Executive Summary
    5 Introduction
    6 5 Key Predictions for Excavator Market
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Average B-2-B selling price in past 5 years
    10 New product development in past 12 months
    11 Market Characterization 
    12 Expansion and  Applications of the Excavator 
    13 Importance of Technological innovation
    14 Impact Thermal Storage Systems and Smart Grid Integration 
    15 Market Size, Dynamics and Forecast by Application , 2024-2030
    16 Market Size, Dynamics and Forecast by End-use industry, 2024-2030
    17 Market Size, Dynamics and Forecast by  Component, 2024-2030
    18 Competitive Landscape
    19 Gross margin and average profitability of suppliers
    20 M&A in past 12 months
    21 Growth strategy of leading players
    22 Market share of vendors, 
    23 Company Profiles
    24 Unmet needs and opportunity for new suppliers
    25 Conclusion
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