Lucintel anticipates that Asia Pacific will be the fastest growing region in the excavator market

   October 18, 2019
According to a new market report by Lucintel, the future of the excavator market looks promising with opportunities in the mining, sewage disposal, commercial, residential, and oil & gas construction applications. The excavator market is expected to grow with a CAGR of 28% from 2019 to 2024. The major drivers for this market are increasing residential and commercial construction activity, high investments by governments to upgrade the existing infrastructure, and rise in urbanization.

To download report brochure, please go to and click "report brochure" tab

In this market, crawler, compact, backhoe, suction, and dragline excavators are used in various applications. Crawler excavator will remain the largest segment in the excavator market.

Within the excavator market, mining, sewage disposal, commercial, residential, and oil & gas construction are the major end use industries. Construction will remain the largest end use segment for excavators.

Asia Pacific will remain the largest region over the forecast period due to the growth in infrastructure development, rise in urbanization, and development of roads and infrastructure.

BEML, Caterpillar, Hitachi Construction Machinery, JCB (Shanghai) Construction Machinery, Komatsu, Liebherr International, Sany Heavy Industry, Terex, and Volvo Construction are among the major manufacturers of excavators.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the excavator market by product type, size, power range, mechanism, end use, and region. Lucintel has prepared a comprehensive research report titled "Excavator Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategies, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the excavator market by product type, size, power range, mechanism, end use, and region as follows:

By Product Type [$M shipment analysis for 2013 – 2024]

  • Compact Excavators

  • Crawler Excavators

  • Dragline Excavators

  • Backhoe

  • Suction Excavators

By Size [$M shipment analysis for 2013 – 2024]

  • Mini/Compact ( <13,227 lbs)

  • Medium ( 13,227-22,046 lbs)

  • Standard/Full Size (22,046- 198,416 lbs)

  • Heavy Excavator (>198,416 lbs)

By Power Range [$M shipment analysis for 2013 – 2024]

  • 0-300 BHP

  • 300-500 BHP

  • 500 & Above

By Mechanism [$M shipment analysis for 2013 – 2024]

  • Electric

  • Hydraulic

  • Hybrid 

By End Use [$M shipment analysis for 2013 – 2024]

  • Mining

  • Sewage Disposal

  • Oil and Gas Construction   

  • Construction

    • Commercial Construction

    • Residential Construction

By Region [$M shipment analysis for 2013 – 2024]

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • Germany

    • Russia

    • France

    • United Kingdom

    • Italy

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Indonesia

    • Turkey

  • Brazil

  • The Rest of the World

This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link or

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit

Lucintel Corporate Customers

Market Entry, M & A, Opportunity Screening,...

Private Equity Customers

Buy Side Services (target screening, due diligence, ..)

Market Research Reports

Aerospace & Defense [53]
Chemical [264]
Composites & Advanced Materials [171]
Construction & Industrial [76]
Consumer and Retail [140]
Economic Analysis [86]
Energy & Utility [73]
Finance & Services [10]
Healthcare [79]
Media & Entertainment [16]
Metals & Mining [17]
Technology & Telecommunication [166]
Transportation [143]

Customer Quotes

"With more than 20 years experience in the industry, this is the first time we have come across such an extensive market analysis for our industry." Ven Cote, CEO, ZCL

"The insights we gained from Lucintel work helped with our business plan…a wonderful professional job…" Mike Jackson, Stahlin

"The report from Lucintel is useful not only for business planners, but also for the technology officers wanting to create a roadmap …" Dr. Giulio Ranzo, Booz Allen

"The information is so comprehensive, it has allowed us to identify & focus our business development efforts. It saved months of leg-work." Bill Barz, L&L Products

"We bought Lucintel report because it is the best report about our industry…a complete and appropriate analysis." Cesare Andrenacci, Ferretti

Quick Query

Lucintel Insights in News

Follow us on