PUNE, India, Oct. 20, 2022 (GLOBE NEWSWIRE) — The global excavator market amounted to USD 44.12 billion in 2018. The global market size is expected to gain momentum by reaching USD 63.14 billion by 2026, showing a CAGR of 4.7% during the forecast period of 2021-2026. This information is provided by Fortune Business Insights in its report titled “Dredger Market, 2021-2026.”
According to our analysts, the global excavator market is set to grow significantly in the coming years due to increasing investments by private and government organizations in infrastructure development. The increasing demand for excavators in the industrial, residential and commercial sectors has created growth opportunities for the global market.
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Report Highlights:
| report coverage | details |
| forecast period | 2019-2026 |
| Forecast period 2019 to 2026 CAGR | 4.7% |
| Value prognosis 2026 | $63.14 billion |
| base year | 2018 |
| Market size in 2018 | $44.12 billion |
| Historical data for | 2015-2017 |
| number of pages | 120 |
| segments covered | By type, by end-use industry, and by region |
| growth accelerator | Increasing adoption of crawlers to boost growth |
| Hitachi’s launch of the hybrid excavator will support overall market expansion |
Effects of COVID-19:
The outbreak of COVID-19 has hampered the growth of the excavator market. The novel coronavirus has limited the spread of batteries.
Driver and restraint systems:
Increasing adoption of crawlers to boost growth
The high demand for oil and gas, infrastructure, commercial space and others associated with the growing population is expected to boost demand for the product. Prominent companies like Terex Corporation are investing heavily in R&D, which is likely to fuel the growth of the global excavator market. The recent market trend shifting from traditional to automated products has increased the productivity of crawlers. This…
