M a r k e t I n t e l l i g e n c e . C o n s u l t i n g
G l o b a l E xc ava to r M a r ke t B y Ty p e ( M i n i vs . H e av y a n d C raw l e r vs . W h e e l e d ) , B y Re g i o n , C o m p e t i t i o n
Fo re c a s t & O p p o r t u n i t i e s , 2 0 1 1 – 2 0 2 1
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T a b l e o f C o n t e n t s
S. No. Contents
1. Product Overview
2. Research Methodology
3. Analyst View
4. Global Excavator Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value & Volume
4.2. Market Share & Forecast
4.2.1. By Excavator Type
4.2.1.1. Mini vs. Heavy
4.2.1.2. Crawler vs. Wheeled
4.2.2. By Company
4.2.3. By Region
5. Global Heavy Excavator Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Excavator Type (Wheeled vs. Crawler)
5.2.2. By Region
6. Global Mini Excavator Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
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S. No. Contents
6.2.1. By Excavator Type (Wheeled vs. Crawler)
6.2.2. By Region
7. Asia-Pacific Excavator Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Excavator Type (Heavy vs. Mini)
7.2.2. By Country
7.2.2.1. China Excavator Market Outlook
7.2.2.1.1. Market Size & Forecast
7.2.2.1.1.1. By Value & Volume
7.2.2.2. Japan Excavator Market Outlook
7.2.2.2.1. Market Size & Forecast
7.2.2.2.1.1. By Value & Volume
7.2.2.3. India Excavator Market Outlook
7.2.2.3.1. Market Size & Forecast
7.2.2.3.1.1. By Value & Volume
8. North America Excavator Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Excavator Type (Heavy vs. Mini)
8.2.2. By Country
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S. No. Contents
8.2.2.1. United States Excavator Market Outlook
8.2.2.1.1. Market Size & Forecast
8.2.2.1.1.1. By Value & Volume
8.2.2.2. Mexico Excavator Market Outlook
8.2.2.2.1. Market Size & Forecast
8.2.2.2.1.1. By Value & Volume
8.2.2.3. Canada Excavator Market Outlook
8.2.2.3.1. Market Size & Forecast
8.2.2.3.1.1. By Value & Volume
9. Europe Excavator Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Excavator Type (Heavy vs. Mini)
9.2.2. By Country
9.2.2.1. United Kingdom Excavator Market Outlook
9.2.2.1.1. Market Size & Forecast
9.2.2.1.1.1. By Value & Volume
9.2.2.2. Germany Excavator Market Outlook
9.2.2.2.1. Market Size & Forecast
9.2.2.2.1.1. By Value & Volume
9.2.2.3. France Excavator Market Outlook
9.2.2.3.1. Market Size & Forecast
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S. No. Contents
9.2.2.3.1.1. By Value & Volume
10. South America Excavator Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Excavator Type (Heavy vs. Mini)
10.2.2. By Country
10.2.2.1. Brazil Excavator Market Outlook
10.2.2.1.1. Market Size & Forecast
10.2.2.1.1.1. By Value & Volume
10.2.2.2. Argentina Excavator Market Outlook
10.2.2.2.1. Market Size & Forecast
10.2.2.2.1.1. By Value & Volume
10.2.2.3. Colombia Excavator Market Outlook
10.2.2.3.1. Market Size & Forecast
10.2.2.3.1.1. By Value & Volume
11. Rest of World Excavator Market Outlook
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T a b l e o f C o n t e n t s
S. No. Contents
11.1. Market Size & Forecast
11.1.1. By Value & Volume
11.2. Market Share & Forecast
11.2.1. By Excavator Type (Heavy vs. Mini)
11.2.2. By Country
11.2.2.1. Russia Excavator Market Outlook
11.2.2.1.1. Market Size & Forecast
11.2.2.1.1.1. By Value & Volume
11.2.2.2. Saudi Arabia Excavator Market Outlook
11.2.2.2.1. Market Size & Forecast
11.2.2.2.1.1. By Value & Volume
11.2.2.3. South Africa Excavator Market Outlook
11.2.2.3.1. Market Size & Forecast
11.2.2.3.1.1. By Value & Volume
12. Policy & Regulatory Landscape
13. Market Dynamics
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13.1. Drivers
13.2. Challenges
14. Market Trends & Developments
14.1. Growing Excavator Rental Market
14.2. Electrification of Excavators
14.3. Increasing Adoption of Technology in Excavators
14.4. Rising Sales of Heavy Excavators
14.5. Growing Sales of Used Excavators
14.6. Crawler Excavators Continue to Dominate
14.7. High Demand for Excavators from Asia-Pacific and Europe
14.8. Europe to Emerge as the Fastest Growing Excavator Market
15. Competitive Landscape
15.1. CATERPILLAR INC.
15.2. Komatsu Ltd.
15.3. Hitachi Construction Machinery Co. Ltd.
15.4. Volvo Construction Equipment NV
15.5. JC Bamford Excavators Ltd.
15.6. Doosan Infracore Co. Ltd.
15.7. Deere & Company
15.8. Hyundai Heavy Industries Co., Ltd.
15.9. BEML LIMITED
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15.10. Liebherr-International AG
15.11. KOBELCO CONSTRUCTION MACHINERY CO., LTD
15.12. Kubota Corporation
15.13. Sumitomo Heavy Industries Ltd
15.14. SANY Heavy Industry Co., Ltd.
15.15. CNH Industrial N.V.
15.16. Xuzhou Construction Machinery Group Co. Ltd
15.17. Zoomlion Heavy Industry Science and Technology Co. Ltd.
15.18. TEREX CORPORATION
15.19. Wacker Neuson SE
15.20. KATO WORKS CO. LTD.
16. Strategic Recommendations
17. About Us & Disclaimer
P r o d u c t O v e r v i e w
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© TechSci Research
Excavators are dynamic construction machines used for below and above ground operations,
including digging trenches, sinking wells, leveling etc.
Classification According to Weight
Product Definition
Excavator Segment Weight Customer Segment
Mini Excavator < 6 Ton Housing Contractors, Sewage Disposal Contractors, Generalconstruction contractors
Heavy Excavator > 6 Ton General construction contractors, Mining contractors, oil and gas exploration companies.
Classification According to Locomotion
Excavator Segment Locomotion Type Customer Segment
Crawler ExcavatorCrawler belt
Construction and mining contractors
Wheeled ExcavatorTires
R e s e a r c h M e t h o d o l o g y
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© TechSci Research
A
C
B
Primary Research
Company Analysis
Desk Research
Identifying Key Opinion
Leaders
Questionnaire Design
In-depth Interviews
Market Participants
Key Strengths
Excavator Portfolio
Recent
Developments
Market Changing
Aspects/Dynamics
Government
Policies
Final Conclusion
LinkedIn D
Factiva Hoovers
Paid Sources
Company Website Company Annual
Reports White Paper Study Financial Reports Investor
Presentations Regulatory Body, Associations, etc.
Secondary Research
Primary Research
Data Collection
Data Filter& Analysis
Research &Intelligence
ActionableInsights
BusinessSolution
•In-depth secondary research was used todetermine top players in global excavator marketand overall market size, and identify topexcavator manufacturers.
Market Profiling
•In order to conduct industry experts interviews, TechSci formulated a detailed questionnaire.
Formulating Questionnaire
•List of industry players (manufacturers),distributors, retailers, and industry specialistswas developed.
Developing list of respondents
•TechSci conducted interviews with industryexperts, industry players, for data collection andverification.
Data Collection
•Data obtained as a result of primary andsecondary research was validated throughrigorous triangulation.
Data Validation
•Data was scrutinized using MS-Excel andstatistical tools such as Time Series analysis etc.to obtain qualitative and quantitative insightsabout the global excavator market.
Data Analysis
R e s e a r c h M e t h o d o l o g y
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© TechSci Research
Baseline Methodology:
For the study, TechSci Research gathered information through primary research surveys with leading globalexcavator companies of various countries. We also put through an exhaustive search of credible paid databasessuch as Factiva, Hoovers, etc., in addition to our internal database. Our team of analysts has then prudentlyevaluated all the collected information and presented the same in chronological order to depict a meaningful andclear picture of the global excavator market.
While compiling the data, we have also cross checked all the collected information from multiple sources and datawarehouses, in order to present the most accurate and precise information of the concerned industry. We useinnovative business model that focuses on accuracy, while ensuring creation of high-quality reports.
Sampling Technique:
While conducting the study, TechSci followed stratified random sampling technique to shortlist KOLs (Key OpinionLeaders) in various excavator manufacturing companies across the globe. KOLs based out of prominent excavatorcompanies in specific countries were interviewed to identify the size of the global excavator market.
Sample Size:
KOL No. of respondents
Mid to Senior Management / Sales Managers etc.: Excavator Companies - Globally
15
Experts from Industry3
Total 18
R e s e a r c h M e t h o d o l o g y
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© TechSci Research
Market Size Calculation Technique:
Primary Research
For preparation of global excavator report, bottom up model has been used, which has been later cross validatedby using top down approach. TechSci interviewed General Managers, Senior Managers and Regional SalesManagers of the prominent excavator companies using Delphi technique for calculating market size of the globalexcavator market. Respondents were also asked about the current and the future growth rates, market share byexcavator type, etc. All information gathered was carefully analyzed. Data points which exhibited high deviationsfrom majority estimates were eliminated as outliers and remaining refined data points were put together to arriveat volume data.
S. No. Company/Organization Name
1 Kobelco Construction Machinery Co. Ltd.
2 Komatsu Ltd.
3 Hyundai Heavy Industries Co., Ltd
4 Yanmar Construction Equipment
5 Bobcat
6 Sumitomo Heavy Industries Ltd
7 Hitachi Construction Machinery Co. Ltd.
R e s e a r c h M e t h o d o l o g y
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© TechSci Research
S. No. Secondary Source
1 European Commission
2 Association of Equipment Manufacturers
3 National Highway Authority of India
4 Ministry of Finance, UK
5 The Federal Statistical Office, Germany
6Canadian Construction Association, New Building Canada Plan (NBCP), The Government of
Canada
7 World Bank
8 International Monetary Fund
Secondary Research
We also put through an exhaustive search of credible paid databases such as Factiva, Hoovers, etc., in addition toour internal database. Further analyses of credible publications, white papers, company’s annual reports, investorpresentations, news articles, etc. were also analysed to cross validate end findings derived from primary research.
Forecasting Technique:
The team developed forecast on the basis of Econometric and judgemental analysis in addition to statisticaltechniques such as averaging, and geometric mean. During primary research interviews, questions regardinghistorical sales trend in global excavator market during the last five years were put forward. Respondents wereasked about the current and the future growth rates, market share by excavator type across various countries. Inorder to forecast the global excavator market, following forecast techniques were used such as:
• Moving Average
• Time Series Analysis
• Econometric and Judgmental Analysis
I n d u s t r y B r i e f
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Excavator Market to Cross $28 Billion by 2021
According to TechSci Research report, “Global Excavator Market By Type (Mini vs. Heavy and Crawler vs. Wheeled),By Region, Competition Forecast & Opportunities, 2011 – 2021’’, growth in the market is anticipated on account ofincreasing urbanization, stabilization of crude oil prices and anticipated recovery of the infrastructure sector, globally.Over the last five years, prevalence of unfavorable micro- and macro-economic factors such as inflation, exchange ratefluctuations, interest rates and liquidity conditions in major developing as well as developed economies also impactedthe global excavators market.
Key reasons for decline in sales of excavators across the globe during 2011-2015 were falling crude oil prices andslowdown in construction and mining sectors across the globe during the same period. Global crude oil prices declinedfrom over US$104 per barrel in 2011 to US$50 per barrel in 2015, thereby impacting revenues of all major oildependent economies such as Saudi Arabia, Qatar, UAE, Bahrain, as well as North Africa. Decline in crude oil pricestranslated into widening of fiscal deficits and contraction of construction budgets of these countries, resulting inslowdown of the construction sector, which impacted demand for excavators across these countries.
Though Asia-Pacific dominated the global excavator market, excavator sales in the region were impacted by slowdownin the Chinese economy. Nevertheless, the country’s construction market is poised to recover over the next five years.In May 2016, National Development & Reform Commission along with Ministry of Transport (MoT) of China,announced plans to invest US$ 723 billion into the country’s infrastructure sector over the period of next three years.Recovery of the construction sector in China is expected to boost demand for excavators in the coming years.
“Demand for new excavators by construction companies and EPC contractors declined dramatically during 2014-2015,due to slowdown in the global economy. Unfavorable economic scenario and slowdown in construction andinfrastructure sectors compelled a number of contractors across the globe to procure excavators on rent to reduceoverhead costs. Moreover, several excavator rental companies have been offering discounts to attract more and morecustomers. Growing preference of construction and mining companies towards renting excavators rather thanpurchasing them has augmented growth in excavator rental business.”, said Mr. Karan Chechi, Research Director withTechSci Research, a research based global management consulting firm.
S a m p l e D a t a - S n a p s h o t
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© TechSci Research
Global Excavator Market Size, By Value (USD Billion), By
Volume (Thousand Units), 2011-2021F
25 50 75 100 125175 200 225 250 275 300
50 75 100 125 150200 225 250 275 300 325
2011 2012 2013 2014 2015 2016E2017F2018F2019F2020F2021F
Value (USD Billion) Volume (Million Unit)
1% 1% 1% 1% 1% 1% 1%4% 4% 4% 4% 4% 4% 4%9% 9% 9% 9% 9% 9% 9%
14% 14% 14% 14% 14% 14% 14%
19% 19% 19% 19% 19% 19% 19%
24% 24% 24% 24% 24% 24% 24%
29% 29% 29% 29% 29% 29% 29%
2015 2016E 2017F 2018F 2019F 2020F 2021F
Doosan JCB Volvo Hitachi
Komatsu Caterpillar Other*
Global Excavator Market Share, By Company, By Volume, 2015-2021F
Brazil FDI Equity Capital Inflow in
Construction Sector, 2009-2015 (USD Million)
1 3
5 7 9 11
132 4
6 8 10
12
14
2009 2010 2011 2012 2013 2014 2015
Construction of Buildings Civil Engineering
1
2 3
2010 2015 2016E
Germany Construction
Industry Size,2010, 2015 &
2016E (USD Billion)
Japan Investments in
Construction Sector, 2010-
2014 (USD Billion)
1 23 4 5
2010 2011 2012 2013 2014
10% 10% 10% 10%10%
10% 10% 10% 10%10% 10%
15% 15% 15% 15% 15% 15% 15% 15% 15% 15% 15%
20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%
25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%
30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30%
2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F
Asia-Pacific Europe North America
Rest of World South America
Global Excavator Market Share, By Region, By Volume, 2011-2021FGlobal Mini Excavator Market Size, By Value (USD Billion), By
Volume (Thousand Units), 2011-2021F
25 50 75 100 125 175 200 225 250 275 300
50 75 100 125 150 200 225 250 275 300 325
2011 2012 2013 2014 2015 2016E2017F2018F2019F2020F2021F
Value (USD Billion) Volume (Million Unit)
Global Excavator Market Share, By Type (Mini vs. Heavy), By
Volume, 2011-2021F
40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40%
60% 60% 60% 60% 60% 60% 60% 60% 60% 60% 60%
2011 2012 2013 2014 2015 2016E2017F2018F2019F2020F2021F
Heavy Excavator Mini Excavator
R e p o r t O r d e r i n g
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Wheeled), By Region, Competition Forecast & Opportunities, 2011 – 2021
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A b o u t U s & D i s c l a i m e r
About Us
TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides
market research reports in a number of areas to organizations. The company uses innovative business models that focus on improved
productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-
specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global
industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation
of the opportunities available in the market.
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Disclaimer
The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made thatit is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sourcesincluding which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of anyinformation and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that ithas no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can changewithout notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage ofthe same for purpose other than internal will require prior approval of TechSci Research.
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