Global Wheeled Excavator Market Research Report - Forecast to 2030

Wheeled Excavator Market Information by Type (Mini excavator, Heavy excavator, Large excavator), by Application (Infrastructure, Public utilities, Mining & Oil well and others) - Forecast to 2030

ID: MRFR/CO/1700-HCR | November 2022 | Region: Global | 132 pages

Impact of COVID-19 on the Global Wheeled Excavator Market

Wheeled excavators are crawlers designed to oscillate and allow the machine to navigate uneven terrain. These excavators use hydraulically extendable outriggers to help stabilize the machine when digging and earthmoving. Excavators are extremely useful for the construction industry as they can perform difficult tasks, which are not possible using human effort and also increase the speed of work. The COVID-19 pandemic has impacted the construction industry negatively, although the legal repercussions differ from region to region and contract to contract. Investments have reduced across the construction industry due to the obstructed cash flows. Almost every commercial activity has been adversely affected due to the COVID-19 outbreak.

For instance, in March 2020, the World Health Organization (WHO) declared COVID-19 as a global pandemic resulting in the governments of several countries imposing lockdowns. There is a high probability that the COVID-19 outbreak will have long-term effects on the consumers’ lifestyles and behavior. The lockdowns have impacted construction activities, which has consequently affected the demand for wheeled excavators. However, the slowdown in industrial manufacturing is also likely to hamper market growth. The pandemic has impacted several industries, either directly or indirectly, disrupting vendor operations, supply chains, product commercialization, among other economic activities. However, the halt in mining activities across the world has also hindered the wheeled excavators market. In the Asia-Pacific region, China is a hub for the supply of raw materials used in manufacturing processes. The industry is facing challenges such as price fluctuations, halted production, and disrupted supply chains due to the coronavirus pandemic.

FDI in Infrastructure, 20132019 (USD Billion)

Wheeled Excavator Market