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Crawler Excavator Market Trends

Report ID: GMI7464
Published Date: Nov 2023
Report Format: PDF

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Crawler Excavator Market Trends

The increasing focus on sustainable construction machinery is fostering lucrative growth in the crawler excavator industry. As environmental concerns rise, construction industries globally are seeking eco-friendly solutions. For instance, in May 2022, JCB India, a prominent manufacturer of earthmoving & construction equipment, unveiled the JCB 19C-1E, a fully electric excavator. This zero-emission machine is equipped with four lithium-ion batteries, providing a full-day operation on a single charge. Crawler excavators, with advancements in fuel efficiency and emission control, align with sustainability goals. This emphasis on environmentally conscious construction practices propels the demand for crawler excavators.

Demolition projects are driving increased demand for crawler excavators. With their robust design and versatility, crawler excavators excel in the challenging tasks associated with demolishing structures. These machines efficiently handle tasks such as breaking down concrete, removing debris, and navigating through confined spaces. As urbanization prompts more demolition and reconstruction initiatives, the demand for crawler excavators rises. Their ability to perform precise and powerful demolition work positions them as essential equipment in the construction industry, propelling sustained growth in the market.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Industry size for crawler excavator reached USD 33.8 billion in 2022 and is projected to record over 4.5% CAGR from 2023 to 2032 owing to the rising government investments in road construction projects.

Medium crawler excavators industry accounted for around 30% revenue share in 2022 and is set to witness high demand through 2032 owing to their versatility and ability to seamlessly adapt to various construction tasks.

Asia Pacific held more than 35% revenue share of the crawler excavator market in 2022 and is likely to exhibit robust growth through 2032 owing to the thriving construction sector, encompassing diverse projects from residential to industrial.

Some of the top crawler excavator companies are AB Volvo, Caterpillar Inc., Deere & Company, Hitachi Construction Machinery Co. Ltd., J.C.Bamford Excavators Ltd, Komatsu Ltd., Liebherr Group, Sany Heavy Industry Co., Ltd., and XCMG.