This report covers market characteristics, size and growth, segmentation, regional breakdowns, competitive landscape, market shares, trends and strategies
PUNE, INDIA, October 16, 2019 /EINPresswire.com/ — Market overview
Excavators are mainly construction equipment comprising a dipper, bucket, boom and cab, all on a rotating platform commonly known as the ‘house’. Excavators are an advanced version of steam shovels and are often erroneously called power shovels.
Hydraulic excavators use hydraulic fluid to achieve all movement and functions with the help of hydraulic cylinders and motors. The linear actuation of hydraulic cylinders differentiates their mode of operation from cable-operated excavators which make use of winches and steel ropes for movement.
The increasing investments made by the government on infrastructure is expected to be one of the major contributing factors leading to positive market growth. As the economy grows, infrastructure must grow, making all developing countries candidates for increasing the growth of the market.
This leads to the generation of jobs and makes available services like energy, housing, and clean water encouraging MNCs to enter these countries.
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This rising focus on Infrastructure development will also end up driving the demand for construction equipment, in turn, boosting the adoption of tracked excavators.
The global tracked excavators market is expected to grow at a CAGR of 3.03% during the period 2018-2023.
This report provides a detailed analysis on the global tracked excavators volume and value and represents the global tracked excavators market size using historical data for analysis and analyzing future prospect.
The global tracked excavators market is segmented by Type, Applications, Manufacturers, and Region.
In terms of types, the market is split into Medium Type, Large Type, and Small Type.
With respect to applications, the market is divided into Building, Mining, and Others.
The key players dominating the market are Caterpillar, Komatsu, Hitachi Construction Machinery, Volvo Construction Equipment, XCMG Group, BEML, J C Bamford Excavators, Kobelco Construction Machinery, SANY GROUP, Terex, LARSEN & TOUBRO, Hyundai Heavy Industries, LiuGong, Liebherr, and Takeuchi.
Geographically, the market is spread across key regions like North America, Europe, China, Japan, Southeast Asia, and India.
The report provides country-wise analysis of the regions the market is spread across. These include:
North America (United States, Canada)
Europe (Germany, France, UK, Italy, Russia, Spain)
Asia Pacific (China, Japan, Korea, India, Australia, New Zealand)
Middle East and Africa (Middle East, Africa)
Latin America (Mexico, Brazil, Chile, Peru, Colombia)
APAC accounted for the majority global tracked excavators market share during 2017 due to the rise in infrastructure projects and the growing demand for construction equipment. The number of infrastructure projects is increasing in South and Southeast Asian countries such as China, India, Indonesia, and the Philippines due to the rising number of governmental projects such as the construction of roads, airports, and railway lines.
Terex India, the Indian counterpart of Terex Corporation, globally known as the manufacturer of lifting and material handling solutions, is planning a major push and breakthrough into the tracked excavators segment.
JCB unveiled a new generation tracked excavators series following one of its largest investment of 110 million euros into developing this ‘X series’ and it is now being launched to customers across the globe.
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Source: EIN Presswire