Hydraulic Excavators Market Size, Emerging Trends, Forecasts, and Analysis 2022-2027

The hydraulic excavators market is likely to witness a CAGR of 2.5% during the forecast period.

A report on the Hydraulic Excavators Market has been recently published by Stratview Research. This Market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Hydraulic Excavators Market.

Market Analysis

The hydraulic excavators market is likely to witness a CAGR of 2.5% during the forecast period.

What is a hydraulic excavator?

A hydraulic excavator is a vehicle that is built for digging, uncovering, and demolition. It is a type of heavy construction equipment that is used in commercial and residential buildings, as well as mining and sewage disposal.

This report also focuses on the short- and long-term implications of the novel Coronavirus pandemic on the Hydraulic Excavators Market at the global, and regional dimensions. To evaluate the percentage of loss or profit to the industry, the report also compares pre-COVID and post-COVID scenarios.

Market Dynamics

The market is expected to grow owing to the increasing demand for transportable and low-cost energy-efficient hydraulic excavators from various sectors such as infrastructure, mining, and waste management. Furthermore, technological innovation and upgradation by manufacturers are expected to propel the demand for hydraulic excavators and fuel the market growth over the forecast period.

Key Segments Hydraulic Excavators Market Report Covers:

Based on the type, the market is segmented as crawler, mini, and wheeled. The wheeled segment is expected to witness significant growth in the market during the forecast period. The segment's growth is driven by the ease with which wheeled-hydraulic excavators can be transported from one location to another, as well as their weight.

Based on the application type, the market is segmented as infrastructure, mining, and others. The infrastructure application segment is estimated to account for the major share of the market during the forecast period as the purchasing power of people has increased, resulting in increased investments in the building sector. Furthermore, demand for hydraulic excavators is increasing at a rapid rate, owing to growing infrastructure investments in developing nations such as China and India, and this trend is expected to continue in the coming years. The aforementioned factors are likely to drive the demand for hydraulic excavators, hence propelling the growth of the market.

In terms of regions, Asia-Pacific is estimated to be the leading region in the market during the forecast period. The growth of the region’s market is driven by increasing urbanization and infrastructure-related activities in developing economies such as China and India. Also, North America is expected to have a significant market share in terms of revenue, followed by Europe over the forecast period.

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