Earthmoving Equipment Industry

Earthmoving Equipment Industry | Forecast 2030

Earthmoving equipment demand is anticipated to increase throughout the forecast timeframe owing to the growing urban population demand for leveraging infrastructure facilities. The advent of new products with eco-friendly characteristics and inexpensive maintenance would replace traditional machinery in the next few decades. Furthermore, numerous technical developments make it earthmoving equipment easier to monitor systems in real-time and spot problems. Additionally, rental services are expanding their market share. In order to establish their businesses and bring in revenue from small, medium, and big contractors, local businesses and SMEs probably prefer the rental sector.

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According to estimates, growing globalization would foster an environment that will encourage foreign direct investment, which will ultimately boost growth. Consumers in emerging economies are expected to have greater purchasing power, which will present important growth prospects. Over the projected period, the market is also expected to be driven by the need for improved transportation infrastructure and connectivity. However, the implementation of emission-control standards along with the ambiguity of the economic climate could make expansion difficult. Demand may be constrained by various worldwide prohibitions and restrictions on mining activities, as well as host costs.

Excavator Market Growth & Trends

The global excavator market size is anticipated to reach USD 108.37 billion by 2030, registering a CAGR of 5.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. The focus on building robust transportation networks and tapping into the vast mineral resources has resulted in an increasing demand for excavators globally. Manufacturers are responding to this demand by providing a diverse range of excavator models, specifically tailored to meet the unique requirements of construction and mining activities.

The increasing emphasis on sustainable construction practices and the integration of advanced technologies in construction equipment is fueling the demand for more energy-efficient and environment-friendly machinery. Wheel excavators, equipped with advanced hydraulic systems and emission-reducing technologies, are sought after for their improved fuel efficiency, and reduced environmental impact. As governments and regulatory bodies worldwide continue to push for greener construction practices, the demand for wheel excavators is gaining momentum, leading to a surge in their global adoption.

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Loader Market Growth & Trends

The global loader market size is expected to reach USD 20.24 billion by 2027, expanding at a CAGR of 3.4% from 2020 to 2027, according to a new report by Grand View Research, Inc. The substantial growth owing to increased government spending on projects to develop public infrastructure would increase the demand for earthmoving equipment, including loaders. Moreover, increasing demand for construction equipment rental, especially in developed regions, such as North America and Europe, would further increase the demand.

The loader is one of the essential equipment predominantly used at any construction site. These equipment are used for conducting a number of construction activities, including demolition, renovation, building loads, and material handling. Development of technology and integration of advanced features, including advanced telematics, GPS, cellular network technology, and Bluetooth connectivity, have contributed to market growth. The operators are gradually getting accustomed to new and advanced machinery as it enables ease on the worksites and can complete major tasks within lesser time.

Motor Grader Market Growth & Trends

The global motor grader market size is expected to reach USD 5.53 billion by 2030 and expand at a CAGR of 5.4% from 2023 to 2030, according to a new study by Grand View Research Inc. The growing demand for motor graders among construction contractors for preparing sites through operations, including carrying debris and grading, is the main factor driving the growth of the motor grader industry. Throughout the anticipated period, there will probably be a growth in motor grader demand due to the development of roads and highways, urban infrastructure, and the mining industry, supporting the expansion of the motor grader industry.

The increasing investment in construction and mining sectors across multiple nations drives the demand for motor graders. The growing need for megacities and smart cities in developing nations and the brisk expansion of the construction sector are factors propelling the motor grader industry. A higher output engine known as the air-through water cooler is a technological advancement expected to boost the market for motor graders. In addition, attributes like a unique riding control, a specialized swing pump, load sensor hydraulics, and a hydraulics-based powered cooling fan are contributing to the market expansion.

Competitive Landscape

The market is competitive with the presence of major Komatsu, Hitachi Construction Machinery, Caterpillar, John Deere, Volvo, CNH Industrial among others. These companies maintain an exhaustive product portfolio and are employed to maintain a competitive edge in the market, their product offerings, the applications segment they served, the sophistication of their technology, their strategy to differentiate their products, and their industry impact. The key strategies include strategic partnerships, collaborations, and agreements; new product development; mergers & acquisitions; and research & development initiatives. For instance, Catepillar acquires Kemper Valves and Fitting Corp. in order to expand it’s service offerings. Furthermore, the company also aims to improve cost structure, quality, reliability, delivery performance, and customer loyalty.

Earthmoving Equipment Industry | Forecast 2030

Earthmoving Equipment Industry Data Book – Excavator, Loader, Motor Grader, Dumper And Dozer Market

Grand View Research’s earthmoving equipment industry data book is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

Excavator Market Insights

The global excavator market size was estimated at USD 75.85 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2030. Due to increasing investments in the construction sector mainly from the growing countries such as India, China, and South Korea, the market has experienced significant growth. Global demand for excavators has increased as a result of an increase in the number of major projects in the road and port construction, mining, and oil and gas construction industries. Moreover, technological advancements in excavator design and functionality, such as improved fuel efficiency and enhanced performance, further contribute to their widespread usage and market growth.

In enclosed spaces such as forestry, agriculture, and small-scale construction projects, excavators are employed. The instrument is practical for accelerating construction activities and is built to offer greater operational skills, thus elevating the market growth. For instance, in May 2023 Hitachi Construction Machinery Co., Ltd. launched ZAXIS-7 compact excavators designed to enhance task efficiency on urban work sites. The company also launched ZX75US-7 model that featured an ultra-short-tail swing radius, which allowed access to small spaces. In addition, the ZX85USB-7 model, with its swing boom and ultra-short-tail swing radius, enabled productive excavation near walls and guardrails.

Loader Market Insights

The global loader market size was valued at USD 16.80 billion in 2019 and is anticipated to grow at a compound annual growth rate (CAGR) of 3.4% from 2020 to 2027. Growing infrastructural developments and large number of construction projects in the developing and emerging countries are contributing to the market growth. The infrastructure developments in such regions are likely to proliferate the demand for construction equipment, such as loaders, which are widely used for moving materials and lifting heavy loads at construction sites. The loaders are used for different kinds of activities including waste handling, material handling, and demolition of buildings and infrastructure. Increasing number of redevelopment projects has increased the prospects for waste handling and the demolition segment, which is expected to boost the demand for loaders.Growing public-private partnerships to implement infrastructure works, increasing residential, commercial, and industrial construction activities, and global economic growth from 2021 onwards are expected to drive the market in future. The loader manufacturers are integrating advanced technology into the equipment machinery. A South Korean manufacturer Doosan is offering an auto shut-down feature that has been implemented to reduce the idle time of the engine, which would prevent the wasted operating time and over-consumption of fuel. The company has also provided loaders with maintenance-free air pre-filter that automatically separates more than 99% of particles that are 20 microns and larger and removes debris extending the air filter life. The manufacturers are focusing on improving the cabin comfort for the operator to drive the sales activity in regions, such as Europe and North America, as operators are the key participants when it comes to the purchasing decision.

Motor Grader Market Insights

The global motor grader market size was valued at USD 3.55 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.4% from 2023 to 2030. An increasing number of commercial, public, and residential construction projects and mining activities worldwide contribute to the uptick in motor grader demand. Favorable government investment in refurbishing existing public infrastructure and authorization to build new infrastructure, such as airports and roadways, is expected to instigate the growth of the motor grader industry within the forecast period. Major players within the motor grader industry landscape are investing in developing mechanically advanced motor graders.

Industry Segment Forecast 2030

Earth Moving Machinery Industry, By Product

Excavator
Loader
Motor Grader
Dumper
Dozer

Earth Moving Machinery Industry, By Vehicle Weight

Less than 10
11 to 45
More than 46

Earth Moving Machinery Industry, By Engine Capacity

Upto 250 HP
250 – 500 HP
More than 500 HP

Earth Moving Machinery Industry, By Type

Wheel
Crawler

Earth Moving Machinery Industry, By Drive Type

Electric
ICE

Earth Moving Machinery Industry, By Application

Construction
Material Handling
Road Construction