- Opportunity and Forecast, 2016 - 2025
Loaders, excavators, tractors, and others are some of the equipment used majorly in construction industry and manufacturers of earthmoving equipment are endeavoring to develop machinery to equip all the functions in a single machinery to provide convenience to users along with providing smooth control and operation. Hydraulics are the most widely used earthmoving equipment as it increases the speed of operation and provides durability while saving energy.
Technological advancements such as real time monitoring and rising adoption of earthmoving equipment in commercial sector have fueled the global industry growth. However, high initial cost and operating expenditure, stringent emission control regulations, and fluctuation in raw material prices have the potential to hamper the market growth. The increase in large scale construction activities in developing nations coupled with improvement in after-sales services to provide proper guidance and maintenance services are anticipated to present new pathways in the industry.
The global earthmoving equipment market is segmented on the basis of product, application, and geography. Based on product, the market is segmented on the basis of excavators, loaders, and others. Application segment is further classified into construction, underground mining, and others. Geographically, the market is segmented based on North America, Latin America, Europe, Asia-Pacific, and Middle East& Africa.
Key manufacturers operating in the global earthmoving equipment industry include Caterpillar, Komatsu, Volvo, Hitachi, Liebherr, John Deere, Doosan, and others. These key manufacturers have implemented collaborations, new product launches, merger & acquisition, joint ventures, partnerships, expansion, and other strategies to expand their businesses.
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