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

   October 18, 2019
According to a new market report by Lucintel, the future of the ultra large excavator market looks promising with opportunities in the construction, agriculture, mining, road & port construction, and oil & gas construction sectors. The ultra large 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.

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Within the ultra large excavator market, construction, agriculture, mining, road & port construction, and oil & gas construction are the major application segments. Construction is the largest application segment of the ultra large excavator market.

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.

Caterpillar, Komatsu, Liebherr, Hitachi, John Deere, and Kobelco are among the major manufacturers of ultra large excavators.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the ultra large excavator market by mechanism, application, and region. Lucintel has prepared a comprehensive research report titled "Ultra Large 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 ultra large excavator market by mechanism, application, and region as follows:

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

  • Electric

  • Hydraulic

  • Hybrid 

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

  • Construction

  • Agriculture

  • Mining

  • Road and Port Construction

  • Oil and Gas Construction Sectors

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

  • The Rest of the World

    • Brazil

    • Turkey

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

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