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Dragline Excavator Market Trends

Report ID: GMI8149
Published Date: Feb 2024
Report Format: PDF

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Dragline Excavator Market Trends

The dragline excavator industry is witnessing significant technological advancements. Modern dragline excavators constitute automation capabilities, which reduce the need for on-site staff while improving operating safety. Remote operation features provide precise control from a safe distance, reducing hazards and improving machine usage. The integration of sensors and data analytics provides real-time monitoring of machine performance, fuel consumption, and operational parameters. This data-driven strategy optimizes operating parameters, increases efficiency, and reduces downtime.

Technological advancements are opening the way for hybrid and electric dragline excavators, reducing fuel consumption and emissions, leading to more sustainable mining and construction industries. For instance, in June 2023, Komatsu developed an autonomous control system for dragline excavators. This system allows remote operation of dragline excavators, enhancing safety and reducing the need for personnel on-site. It uses LiDAR, cameras, and other sensors to provide precise control and increase operational efficiency.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of dragline excavator reached USD 816.7 million in 2023 and is set to witness 3% CAGR from 2024 to 2032, owing to the increasing demand for minerals and metals such as iron ore, coal, copper, and lithium worldwide.

The standard lifting cranes segment held over 53% market share in 2023, due to a wide range of applications including lifting, excavating, and material handling.

Asia Pacific market recorded 44% revenue share in 2023, attributed to rapid infrastructure development, industrialization, and increasing demand for minerals such as coal, iron ore, copper, and lithium in the region.

Deere & Co., Heavy Engineering Corp. Ltd., Hitachi Construction Machinery Co. Ltd., Hyundai Construction Equipment Co. Ltd., Komatsu Ltd., Liebherr International Deutschland GmbH, and Sumitomo Heavy Industries, Ltd., are some of the major dragline excavator companies worldwide.