Wheel excavators gloabal market forcast
The analysis estimates and forecasts the market trends for Wheeled Excavator Market from 2011 to 2027. The analysis establishes that the market was valued at USD 784 million in 2011 and US$ 3.9 billion in the year 2020 and is set to increase at a cumulative annual growth rate of 0.9%. An analysis of the market share dominance established that Caterpillar leads the market share with 16.2% followed by Komatsu with 11.5% and Deere & Company with 5.55% of the market. The other companies are Xuzhou Construction Machinery Group also with 5.5% market capitalization and Sany group with 5.4%.
Market estimates & forecasts for Wheel Excavator Market from 2011 to 2027
The general global excavator market has registered continuous growth since 2016 whereby its market size has steadily grown. It is projected to maintain the same trajectory. Fortune business insights explains the growth to be as a result of investment by private construction companies and government in projects that are infrastructure related such as commercial, industrial, and residential construction projects. Large-scale projects such as construction in mining, oil and gas, road construction, and the development of ports required heavy machinery. The rise of these areas of development has resulted to a balloon of the markets significantly. Yahoo finance values the wheeled excavator market to be USD 784 million in 2011 and US$ 3.9 billion in the year 2020 and is set to increase at a cumulative annual growth rate of 0.9% for the next seven years.
Based on the analysis by Market Analysis report the general market trends for the Crawler, Wheeled, and Mini/Compact excavator was USD 37.29 billion in 2016 a value that is expected to increase at cumulative annual growth rate (CAGR) of 4.9% for the next eight years. The findings by Market analysis show that there is a general increase in the wheeled excavator demand. The growth is thus not unique to the wheeled excavator and thus the growth trends are because of increased construction trends in the global market. The figure below shows the projected global market wheeled excavator market value
Research and Markets provides projected trends for the global wheeled elevator market up to 2027. Based on the assessment by research Markets, the global market for the wheeled execrators is expected to hit the value of US$ 4.2 billion by 2027. This is an increase by US$0.3 billion over the seven-year period. The growth is attributed to the expected CAGR of 1.4% of the contractors segment of the market to hit a value of US$2.7 billion being the major driver of the demand for the wheeled excavators globally. However, following an analysis of the industry with the context of the Covid-19 pandemic influence on the market and the resulting economic challenged, the Research and Markets views that the rental segments of the machines is expected to register a 0.1% CAGR for the next seven years.
An analysis of the economies that are the primary drivers of the market trends, the study establishes that the United States market is valued at US$1.1 billion. With China being the major driver of the market for the next seven years with an increase of the market size by US$781.5 million by the year 2021 registering a CAGR of 2.2%. Other markets that are expected to influence the trends of the market are Japan and Canada with Japan slowing the growth with a 0.2% decline in the market value by 2027 while Canada resulting to a 0.6% increase by 2027. Germany leads in the Europe’s forecasted growth with a growth rate of approximately 0.1% CAGR over the seven-year period. Holding the leadership of the market share illustrated in the graph below
The leading players in the industry are Atlas Copco AB, Caterpillar, Inc., CNH Industrial NV, Doosan Corporation, Zoomlion, Hitachi Construction Machinery Co., Ltd., and Hyundai Heavy Industries Co., Ltd.
Percentage market share of top 20 players operating in Wheeled Excavators Market from 2011 to 2020
An analysis of the companies listed by Excavator Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2017 to 2026 shows that all the major players in the industry operate at a global scale. The companies are international companies and they are responsible for the supply of the machinery across the globe. While there are some Chinese brands that are not very popular internationally, all the top twenty companies have a global competitive focus and target the global market. Based on these findings, the top twenty companies are ranked based on their presence globally and their market share within the global market. This provides an equal competitive analysis because some of the companies are popular in their region of manufacture but less popular with respect to the market share in the international market.
The leading players in the industry according to Research and Markets are Atlas Copco AB, Caterpillar, Inc., CNH Industrial NV, Doosan Corporation, Escorts Group, Hitachi Construction Machinery Co., Ltd., Hyundai Heavy Industries Co., Ltd., J C Bamford Excavators Ltd., John Deere, Kobe Steel, Ltd., Komatsu Ltd., Liebherr-International AG, and Manitou. Other companies competing in the market are Case CE and Volvo CE, as listed by Construction Kenya. Others are Xuzhou Construction Machinery Group, Terex Construction, Atlas GmbH, and Wacker Neuson as discussed by Global Wheeled Excavators Market.
Caterpillar leads the market capitalization with 16.2% followed by Komatsu with 11.5% and Deere & Company with 5.55% of the market. The other companies are Xuzhou Construction Machinery Group also with 5.5% market capitalization and Sany group with 5.4% of the market capitalization. Volvo CE follows with Hitachi Construction Machinery and Atlas Copco AB taking up 4.4% of the market share each. Liebherr Group has 4.2% of the market while Doosan follows closely with a market share of 3.3%. Zoomlion closes the top ten companies by market share with 3.1% of the market share as listed by Construction Kenya. The rest of the companies take up less than 3% of the market share. The graph below illustrates the market share for wheeled excavators for the various companies
From the analysis of the distribution of the market share, there is a fair distribution in dominance within the market. No one company has more than 20% of the market share. On the other hand, only two companies take up more than 10% of the market share. The rest of the companies have less than 6% of the market share. The dominant companies have strong brand names and are companies that are known internationally for their competitive. Over the period of analysis, the market share has been stable with no sudden movement among the companies. The brands that have maintained their dominance have maintained the same market share between 2011 and 2020 with minimal and insignificant changes in the market share distribution over the period of analysis even with increase in demand of the heavy machinery by the market.