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Crawler Excavator Market Size
- Report ID: GMI7464
- Published Date: Nov 2023
- Report Format: PDF
Crawler Excavator Market Size
Crawler Excavator Market was valued at USD 33.8 billion in 2022 and is estimated to register a CAGR of over 4.5% between 2023 and 2032. Increasing government investments in road construction projects are driving growth in the crawler excavator industry. The substantial funds allocated to infrastructure development, particularly in the construction of roads, create a heightened demand for heavy equipment such as crawler excavators. For instance, in July 2023, the Indian government started the development of multiple greenfield expressways, spanning a total of 10,000 kilometers throughout the country with an estimated expenditure of USD 57.25 billion. The National Highways Authority of India (NHAI) successfully raised over USD 890.6 million through diverse financing models, and these funds will be allocated for the construction of highway projects.
The escalating demand for material handling at construction sites is also fueling the crawler excavator industry growth. As construction activities intensify, the need for efficient excavation, lifting, and loading of materials becomes paramount. Crawler excavators, renowned for their versatility & robust capabilities, are integral in meeting these demands. Their adaptability in diverse construction scenarios positions them as essential equipment, contributing to market expansion as construction projects increasingly prioritize effective material handling.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Crawler Excavator Market Size in 2022: | USD 33.8 billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 4.5% |
| 2032 Value Projection: | USD 53.7 billion |
| Historical Data for: | 2018 - 2022 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 267 |
| Segments covered: | Product, Bucket Capacity, Propulsion, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The comparatively slower speed of crawler excavators, when compared to other excavator types, can potentially hinder market growth. Construction projects often demand quick & efficient operations, and a slower excavator speed might impact the overall project timeline. In sectors where time is a critical factor such as construction, a perceived lack of speed can influence purchasing decisions, favoring faster alternatives, and potentially limiting the widespread adoption of crawler excavators in certain applications.
Frequently Asked Questions (FAQ) :
Crawler Excavator Market Scope
