Wheeled excavator market is expected to grow USD 13,283.80 million at a CAGR 5.80% during the forecast period. The report for Global Wheeled excavator Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance.
The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Regional Analysis of Global Wheeled Excavator Market
Asia pacific is expected to show a promising growth within the forecasted period. The wheeled excavator shows growth in developing nations such as china, India owing to factors such as investments for infrastructure development, globalization, and urbanization. The biggest market for wheeled market is China and India due to construction industry and infrastructural development. Developed nations like North America are expected to witness steady growth over the course of the forecast period mainly due to the saturated construction industry in these regions.
The key players of global wheeled excavator market are Caterpillar Inc.(U.S.), Hitachi Construction Machinery Co. Ltd.( Japan), J C Bamford Excavators Ltd.(UK), Komatsu Ltd.(Japan ), Guangxi LiuGong Machinery Co. Ltd.(China ), Sany Group Co. Ltd.(China) and Volvo Construction Equipment ( Belgium).
Market Size of Wheeled excavator market by Regions (USD Billion)
An excavator is extremely useful equipment for the construction industry and can perform gigantic tasks, that are not possible with human effort and has also increased the speed of work. The demand for excavators is driven by the increase in investment in the construction and mining sectors across various countries. Fastest growth in construction industry, growing needs of ‘megacities’ and ‘smart cities’ in developing nations are some of the factors which booms the market for wheeled Excavator. Moreover, advancements in technologies such as air to water intercooler engine which delivers higher output are expected for the growth of wheeled excavator market. Moreover, Features such as unique ride control, dedicated swing pump, load-sensing hydraulics, work-toll versatility and hydraulically driven cooling fan are boosting the growth of the market.
Wheeled excavators not being suitable for hilly areas due to the low grip of the ground and the high maintenance cost are some of the factors that act as a barrier for the growth of global wheeled excavator market.
Study Objectives of Wheeled excavator Market
|Market Size||USD 13,283.80 million|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Technology, by Application, by Material|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Caterpillar Inc.(U.S.), Hitachi Construction Machinery Co. Ltd.( Japan), J C Bamford Excavators Ltd.(UK), Komatsu Ltd.(Japan ), Guangxi LiuGong Machinery Co. Ltd.(China ), Sany Group Co. Ltd.(China), and Volvo Construction Equipment ( Belgium)|
|Key Market Opportunities||
|Key Market Drivers||
A wheeled excavator is an extremely useful equipment used in the construction industry and can perform massive tasks that are not possible with human effort. They also help increase the speed of work.
Major types of wheeled excavators include mini excavators, heavy excavators, and large excavators.
The growing construction industry is the major driver for the wheeled excavator market.
Asia Pacific is likely to be the dominant regional entity in the global wheeled excavator market over the forecast period.
Leading players in the global wheeled excavators market include Sany Group, Hitachi Construction Machinery, and Caterpillar, among others.