Excavators are one of the major segments of construction equipment industry. These are used extensively in numerous fields ranging from construction of roads, building structures to mining and extraction of gold and diamonds. There are several types of excavators present in the industry, based on their size and machinery.
There are many types of excavators, out of which demand of hydraulic excavators is discussed in the report. The demand of the hydraulic excavators declined worldwide. The decrease was mainly due to the downturn in hydraulic excavator demand in China, Japan and Asia & Oceania during 2015 despite continuing steady sales expansion in North America and Europe.
The key factors driving the growth of the excavator industry are rising urbanization, growth in construction expenditure and growing economy. Some of the noteworthy trends and developments of this industry are growing demand for fuel efficient excavator, introduction of new product and usage of high efficiency hydraulic fluids. However, the expansion of global excavator industry is hindered by high maintaining cost for hydraulic excavators and strict regulatory compliance imposed on producers.
The report “Global Excavator Market” provides an in-depth analysis of the excavator market along with a detailed study of the Chinese market. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The four major players in the industry, Caterpillar, Komatsu, Hitachi and Kobelco are being profiled.
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