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Report
Global Earthmoving Equipment Market Report and Forecast 2023-2028
Market Report I 2023-09-13 I 189 Pages I EMR Inc.
Global Earthmoving Equipment Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the global earthmoving equipment market reached a value of around USD 82.1 billion in 2022. Aided by the escalating demand for heavy-duty machinery in construction and mining sectors and the increasing number of infrastructure projects worldwide, the market is projected to further grow at a CAGR of 2.70% between 2023 and 2028 to reach a value of USD 96.33 billion by 2028.
Earthmoving equipment, comprising bulldozers, excavators, loaders, and motor graders, are fundamental to heavy-duty construction, mining, and infrastructure projects. They are instrumental in tasks such as digging foundations, grading soil, and moving large quantities of earth. Due to their high efficiency and productivity, earthmoving equipment is crucial to reducing the time and effort invested in various construction activities, leading to their significant demand in numerous industries.
The primary driver of the global earthmoving equipment market growth is the surge in urbanisation worldwide. As a result of the population influx into urban areas, the demand for residential and commercial properties has skyrocketed, thereby necessitating an increase in construction activities. Additionally, the improvement in living standards and increased per capita income have bolstered the construction of shopping malls, leisure centres, and commercial complexes, further amplifying the demand for earthmoving equipment.
Infrastructural development, including the construction of roads, bridges, railway lines, and airports, is another significant factor increasing the earthmoving equipment market demand. Governments worldwide are investing heavily in infrastructural projects as a part of their economic development plans, which directly fuels the demand for earthmoving machinery.
Technological advancements in the field of earthmoving equipment have also played a crucial role in boosting the earthmoving equipment market expansion. The advent of equipment with features like GPS tracking, advanced transmission, and emission control systems have not only increased their efficiency but also adhered to stringent emission regulations, making these machines more desirable for modern construction needs.
Finally, the increase in automation and the rise of AI technology in the construction sector provide significant growth potential for the earthmoving equipment market. Automated earthmoving equipment can reduce labour costs, increase productivity, and enhance safety standards. As more companies recognise these benefits, the adoption rate of automated and AI-enabled earthmoving equipment is expected to increase, which will continue to fuel the market's growth in the forecast period.
Market Segmentation
The market can be divided based on product type, application, and region.
Market Breakup by Product Type
- Excavators
- Loaders
- Dump Trucks
- Others
Market Breakup by Application
- Mining
- Construction
- Agriculture and Forestry
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global earthmoving equipment companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Caterpillar Inc.
- Komatsu Ltd.
- Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
- Sany Heavy Industry Co., Ltd
- Deere & Company
- AB Volvo
- Liebherr-International Deutschland GmbH
- Hitachi Construction Machinery Co., Ltd.
- Sandvik AB
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Earthmoving Equipment Market Analysis
8.1 Key Industry Highlights
8.2 Global Earthmoving Equipment Historical Market (2018-2022)
8.3 Global Earthmoving Equipment Market Forecast (2023-2028)
8.4 Global Earthmoving Equipment Market by Product Type
8.4.1 Excavators
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Loaders
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Dump Trucks
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Others
8.5 Global Earthmoving Equipment Market by Application
8.5.1 Mining
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Construction
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Agriculture and Forestry
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Others
8.6 Global Earthmoving Equipment Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
9 North America Earthmoving Equipment Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Earthmoving Equipment Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Earthmoving Equipment Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Earthmoving Equipment Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Earthmoving Equipment Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Caterpillar Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Komatsu Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Sany Heavy Industry Co., Ltd
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Deere & Company
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 AB Volvo
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Liebherr-International Deutschland GmbH
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Hitachi Construction Machinery Co., Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Sandvik AB
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Earthmoving Equipment Market: Key Industry Highlights, 2018 and 2028
2. Global Earthmoving Equipment Historical Market: Breakup by Product Type (USD Billion), 2018-2022
3. Global Earthmoving Equipment Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
4. Global Earthmoving Equipment Historical Market: Breakup by Application (USD Billion), 2018-2022
5. Global Earthmoving Equipment Market Forecast: Breakup by Application (USD Billion), 2023-2028
6. Global Earthmoving Equipment Historical Market: Breakup by Region (USD Billion), 2018-2022
7. Global Earthmoving Equipment Market Forecast: Breakup by Region (USD Billion), 2023-2028
8. North America Earthmoving Equipment Historical Market: Breakup by Country (USD Billion), 2018-2022
9. North America Earthmoving Equipment Market Forecast: Breakup by Country (USD Billion), 2023-2028
10. Europe Earthmoving Equipment Historical Market: Breakup by Country (USD Billion), 2018-2022
11. Europe Earthmoving Equipment Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Asia Pacific Earthmoving Equipment Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Asia Pacific Earthmoving Equipment Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Latin America Earthmoving Equipment Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Latin America Earthmoving Equipment Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Middle East and Africa Earthmoving Equipment Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Middle East and Africa Earthmoving Equipment Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Global Earthmoving Equipment Market Structure
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