Global Excavator Attachments Market Size By Type (Buckets, Grapples, Rakes), By Application (Demolition, Excavation, Forestry), By Geographic Scope, And Forecast
Report ID: 23425|No. of Pages: 202
Global Excavator Attachments Market Size By Type (Buckets, Grapples, Rakes), By Application (Demolition, Excavation, Forestry), By Geographic Scope, And Forecast
Excavator Attachments Market Size And Forecast
Excavator Attachments Market size was valued at USD 5.1 Billion in 2020 and is projected to reach USD 7.12 Billion by 2028, growing at a CAGR of 4.3% from 2021 to 2028.
Growing urbanization and industrialization have fueled the market. The worldwide mining activities have significantly contributed to market growth. The Global Excavator Attachments Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Excavator Attachments Market Definition
Excavator attachment is defined as equipment that is used at construction and mining sites for various applications such as drilling, demolition, compacting, digging, and ripping. These excavators are available in different sizes that range from mini to large. Excavators are the most commonly used equipment rather than any other in the construction industry. Excavators are heavy construction equipment that is made to perform tasks quickly and efficiently. The use of several attachments provides the benefit of performing a wide range of tasks.
The excavator attachments are designed for use in applications and are employed for various applications such as demolition, excavation, forestry, recycling, mining, and many others. Several excavator attachments include buckets, grapples, rakes, hammers, augers, and many others. The global excavator attachment industry is going through a significant growth phase, offering immense opportunities for players involved in the business. The growing impulse to develop infrastructure in the developing countries is leading to exceptional growth in the construction equipment industry worldwide, which includes the Excavator Attachments Market within it.
Further, with infrastructure investment in road construction, housing projects, and the mining sector set to go up, there will be a sound rise in the demand for excavators and related attachments. Moreover, the competitive advantage of construction equipment lies in technological advancement and a wide product portfolio. It’s also important to maintain strong relationships with large and organized buyers to maintain a strong market presence. In the construction industry, excavators are mainly used for digging holes, trenches, and foundations.
Increased spending on the renovation of buildings to make energy-efficient and modern buildings may fuel the product demand significantly. The mining industry with increasing demand for precious metals is propelling the market growth substantially. High infrastructure investment in road construction, development of the construction industry, and the need for infrastructure development, especially in emerging countries will significantly augment the demand in the global market. However, the declining rate of new construction in Western Europe and Russia may negatively affect the market growth.
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Global Excavator Attachments Market Overview
According to our global Excavator Attachments Market study based on extensive primary and secondary research, one major trend in the market is government initiatives to impel urbanization. The focus of government in developing countries on infrastructure development is one of the key drivers for the construction equipment industry and related industries. Policies that encourage manufacturing activity will positively impact the Excavator Attachments Market. Excavator attachments are specialized attachment that is used to the benefit of performing a wide range of tasks, and it includes hammers, grapples, buckets, augers, rakes, and others. Growing urbanization and industrialization are increasing the demand for excavators, which directly affects the growth of the Excavator Attachments Market.
Furthermore, an increasing number of smart city projects and heavy spending by governments on infrastructure development propels the growth of the Excavator Attachments Market during the forecast period. Growing urbanization and industrialization have fueled the market. The worldwide mining activities are significantly contributing to market growth. Construction and utilities have the biggest market share due to the rising construction activities. Heavy money that is spent by the government in developing countries for infrastructure development has surged the demand for excavator attachments. Surging demand for excavators among construction equipment operators for excavating, grading, and site preparation is the key factor bolstering the market growth.
The high demand for wheeled excavators will grow over the forecast period due to the increasing development of urban infrastructure, roads and highways, and the mining sector. Wheeled excavators are used in urban areas and projects such as smart cities and megacities boost their demand. The wheeled excavator segment may post a CAGR of 6% over the forecast period. The growing mining activities worldwide, the increasing adoption of advanced machinery in construction industries, and the rising demand for excavators from forestry and agriculture are accelerating the Excavator Attachments Market growth during the forecast period. Moreover, the increasing construction of residential and commercial buildings in emerging countries such as India, China, Brazil, and others will provide ample growth opportunities for the Excavator Attachments Market.
Global Excavator Attachments Market Segmentation Analysis
The Global Excavator Attachments Market is Segmented on the Basis of Type, Application, And Geography.
Excavator Attachments Market, By Type
• Buckets
• Grapples
• Rakes
• Hammers
• Augers
• Large Room
• Others
Based on Type, The market is segmented into Buckets, Grapples, Rakes, Hammers, Augers, Large Room, and Others.
Excavator Attachments Market, By Application
• Demolition
• Excavation
• Forestry
• Mining
• Others
Based on Application, The market is segmented into Demolition, Excavation, Forestry, Mining, and Others.
Excavator Attachments Market, By Geography
• North America
• Europe
• Asia Pacific
• Rest of the world
On the basis of Geography, The Global Excavator Attachments Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asia Pacific region accounted for the largest market share of 32% revenue in the global Excavator Attachments Market. North America is followed by the Asia Pacific region, which occupied about 28% of the market share.
Key Players
The “Global Excavator Attachments Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Caterpillar, Doosan, Gradall Industries, Inc., Komatsu Ltd., Deere & Company, Stanley Black & Decker, Amulet, Sandvik, Craig Manufacturing, and Rockland.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
• November 2021: Caterpillar unveiled its new technologies as an aftermarket option to Cat next-generation mini hydraulic excavators owners in the 6- to 10-ton class range. Owners can now equip the excavators with Cat Grade with Advanced 2D or Cat Grade with 3D. Automatics deliver simple, single-joystick control over the stick and bucket to maintain grade and avoid overcutting and undercutting.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2017-2028 |
| BASE YEAR | 2020 |
| FORECAST PERIOD | 2021-2028 |
| HISTORICAL PERIOD | 2017-2019 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Caterpillar, Doosan, Gradall Industries, Inc., Komatsu Ltd., Deere & Company, Stanley Black & Decker, Amulet, Sandvik, Craig Manufacturing. |
| SEGMENTS COVERED | • By Type |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope |
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Data Collection Matrix
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Industry Analysis Matrix
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