global excavator market forecast 2021 - brochure

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




5.2.1. By Excavator Type (Wheeled vs. Crawler)

5.2.2. By Region

6. Global Mini Excavator Market Outlook




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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




7.2.1. 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



7.2.2.3. India Excavator Market Outlook



8. North America Excavator Market Outlook





8.2.2. By Country

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S. No. Contents

8.2.2.1. United States Excavator Market Outlook



8.2.2.2. Mexico Excavator Market Outlook



8.2.2.3. Canada Excavator Market Outlook



9. Europe Excavator Market Outlook





9.2.2. By Country

9.2.2.1. United Kingdom Excavator Market Outlook



9.2.2.2. Germany Excavator Market Outlook



9.2.2.3. France Excavator Market Outlook


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S. No. Contents


10. South America Excavator Market Outlook





10.2.2. By Country

10.2.2.1. Brazil Excavator Market Outlook



10.2.2.2. Argentina Excavator Market Outlook



10.2.2.3. Colombia Excavator Market Outlook



11. Rest of World Excavator Market Outlook

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S. No. Contents





11.2.2. By Country

11.2.2.1. Russia Excavator Market Outlook



11.2.2.2. Saudi Arabia Excavator Market Outlook



11.2.2.3. South Africa Excavator Market Outlook



12. Policy & Regulatory Landscape

13. Market Dynamics

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S. No. Contents

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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S. No. Contents

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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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


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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


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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.


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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.

https://www.techsciresearch.com/report/global-excavator-market-by-excavator-type-mini-and-heavy-by-region-apac-north-america-south-america-europe-and-rest-of-the-world-competition-forecast-opportunities-2021/675.html

S a m p l e D a t a - S n a p s h o t

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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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Report Name: Global Excavator Market By Type (Mini vs. Heavy and Crawler vs.

Wheeled), By Region, Competition Forecast & Opportunities, 2011 – 2021

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industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation

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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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