Global Wheeled Excavators Market 2017-2021
About Wheeled Excavators
An excavator is a heavy-duty device, which is widely used for a diverse set of tasks in several industries. Tasks include demolition, mining, construction, recycling, and waste management. It is commonly used for excavation tasks and drilling holes into the ground. Numerous prominent manufacturers design and manufacture excavators with distinct features and specifications. A wheeled excavator is a multi-purpose vehicle that is used to excavate or move large objects. It is made up of a driving base with four wheels, which are linked to a knuckle boom arm or triple articulated boom with a bucket attachment designed for excavating.
Technavio’s analysts forecast the global wheeled excavators market to grow at a CAGR of 1.80% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global wheeled excavators market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price for the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Wheeled Excavators Market 2017-2021
Technavio recognizes the following companies as the key players in the global wheeled excavators market: Caterpillar, Hitachi Construction Machinery, Komatsu, Volvo Construction Equipment, and Xuzhou Construction Machinery Group.
Other Prominent Vendors in the market are: Terex Construction, Liebherr, Deere & Company, SANY, Doosan Infracore, J C Bamford Excavators, KOBELCO CONSTRUCTION MACHINERY, CNH Industrial, Hyundai Heavy Industries, Atlas GmbH, Shantui Construction Machinery, Wacker Neuson, HIDROMEK, Takeuchi Manufacturing, Bobcat, Astec Industries, Gradall, Geismar, Rhino, Menzi Muck, Mecalac, UNAC, Badger Equipment Company, GEHL, and Sennebogen.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is emergence of intelligent automation. Manufacturers of the earthmoving industry have been striving to make the excavation process quicker and more fuel efficient. At present, several players are taking up new approaches to reduce maintenance and fuel utilization and improve the effectiveness of systems.”
According to the report, one of the major drivers for this market is recovering construction market. Wheeled excavators are extensively used in several construction activities such as grading, site preparation, excavation, landscaping, digging trenches, material handling, and lifting and placing of pipes. Therefore, any growth in construction activities will result in volume development in sales of wheeled excavators. The need for better infrastructure is leading to a high demand for wheeled excavators, as they can be useful in a wide range of construction activities. The worldwide construction industry is continuously recovering, having gone through a long period of slowdown in the wake of the financial crisis.
Further, the report states that one of the major factors hindering the growth of this market is over capacity of crawler excavators. The slowdown in the construction sector coupled with the drastic decline in commodity prices have created an excess capacity of crawler excavators in the market. Consequently, the slump in the commodity prices stalled mining activities have impacted the demand for equipment like crawler hydraulic excavators.
Caterpillar, Hitachi Construction Machinery, Komatsu, Volvo Construction Equipment, Xuzhou Construction Machinery Group, Terex Construction, Liebherr, Deere & Company, SANY, Doosan Infracore, J C Bamford Excavators, KOBELCO CONSTRUCTION MACHINERY, CNH Industrial, Hyundai Heavy Industries, Atlas GmbH, Shantui Construction Machinery, Wacker Neuson, HIDROMEK, Takeuchi Manufacturing, Bobcat, Astec Industries, Gradall, Geismar, Rhino, Menzi Muck, Mecalac, UNAC, Badger Equipment Company, GEHL, and Sennebogen.
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