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U.S. Tier 4 Emission Standards Push Excavator Manufacturers to Innovate

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A Market Research and Competitive Intelligence Provider, Highlights Key Factors Enabling Excavator Growth. Fact.MR recently published a comprehensive study on the excavator market, which opines that the overall sales of excavator will witness a modest 3.2% volume y-o-y in 2019 over 2018.The Fact.MR study finds that the demand for excavator will improve as the heavy construction equipment industry has been recovering from a major slump. The sales for excavator has witnessed significant growth in developed countries such as the U.S., the U.K., Germany, and Canada due to developed infrastructure.

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Construction Industry Accounts for over 70% Volume Share in Excavator

Excavators are commonly used in a wide range of sectors including construction, mining, agriculture, and forestry. However, according to the Fact.MR report, the construction industry is expected to hold the largest volume share – approximately 72% — by the end of 2019. Manufacturers in the excavator are focusing on introducing performance features that will suit the requirements of end-users from the construction industry to capitalize on the increasing demand for excavators as construction equipment.

Excavator market players are upgrading the design of excavators by incorporating advanced technologies to offer improved efficiency, which can help end-users to increase productivity and operators’ safety.

The Fact.MR report finds that the sales of excavators as a construction machinery were around 5.5x higher than its sales as a forestry & agricultural equipment in 2018. Higher demand for excavators in the construction industry is mainly spurred by roads and highway projects, and the study remains bullish of the potential rise in share of construction industry in global sales of excavators in the coming future.

Apart from its applications in the construction industry, excavators are also used in the agriculture industry and mining industry, which have been contributing greatly to growth of the excavator market.

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Stringent Environmental Regulations Create Challenges for Excavator Manufacturers

Despite steady demand from construction industry, stringent environmental regulation and high quality standards for conventional excavators continue to create manufacturing challenges for market players.

Conventional excavators are subject to guidelines regulating the use and operation of heavy equipment. Manufacturers in the excavator market need to conform to these stringent regulatory requirement, which may add to the production cost, ultimately restricting manufacturers from maintaining competitive prices.

Emerging Nations Hold Lucrative Opportunities for Excavator Market Players

The fortunes of excavator manufacturers are closely linked to the broader macroeconomic policies, most notably investment in infrastructural development. Asia Pacific is home to two of the fastest growing economies in the world. Morever, many small economies in the region are ramping up their archaic network of roads and highways, creating significant demand for heavy construction equipment. Excavator manufacturers are likely to benefit from these broader developments in developing countries of Asia Pacific. The Fact.MR study finds that the APEJ region accounted for over 47% volume share in the excavator market in 2018, and projects that the region will continue to create lucrative sales opportunities for excavator market players in the upcoming years.

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Caterpillar Inc.
Deere & Co.
Hitachi Ltd.
KUBOTA Corporation
CNH Industrial N.V.
Volvo Construction Equipment and Services Inc.
Doosan Bobcat Inc.
Yanmar Co. Ltd.
JCB Inc.
Nagano Industry Co. Ltd.
KOBELCO Construction Machinery Co. Ltd.
Kato Works Co. Ltd.
BEML Limited
Guangxi LiuGong Machinery Co. Ltd.
Sany Group Co. Ltd.
Terex Corporation
XCMG Construction Machinery Co. Ltd.

key companies profiled in the report. In addition, a footprint matrix on the market players profiled in the report has been offered, and the presence of these excavator manufacturers has been depicted with the aid of an intensity map.

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