Wheeled Excavators Market to Grow by USD 1.29 Billion (2024-2028) Due to Increased Residential and Commercial Construction Activities, AI Driving Market Transformation - Technavio Report

NEW YORK, Sept. 2, 2024 /PRNewswire/ -- Report with the AI impact on market trends- The global wheeled excavators market size is estimated to grow by USD 1.29 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.36% during the forecast period. Rise in residential and commercial construction activities is driving market growth, with a trend towards new product launches by market vendors. However, volatility in raw material prices poses a challenge. Key market players include AB Volvo, Caterpillar Inc., China National Machinery Industry Corp. Ltd., CNH Industrial N.V., Deere and Co., Groupe Mecalac SAS, HD Hyundai Construction Equipment Co. Ltd., Hitachi Ltd., J C Bamford Excavators Ltd., Karmica , Komatsu Ltd., Liebherr International AG, MaxPower Corp.`, Podlasly Baumaschinen GmbH, Sany Group, SHANDONG KEN STONE HEAVY MACHINERY CO. LTD, Wacker Neuson SE, Xuzhou Construction Machinery Group Co. Ltd., and Yanmar Holdings Co. Ltd..

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Key Market Trends Fueling Growth

The Wheeled Excavator market is experiencing steady growth due to its versatility and mobility. These machines offer increased productivity and efficiency in various construction applications. Key players in the industry include Caterpillar, Komatsu, and Volvo Construction Equipment. Market growth is driven by infrastructure development, housing, and mining sectors. Advanced technologies such as fuel efficiency and automation are also boosting demand. The market is expected to continue expanding, offering significant opportunities for manufacturers and suppliers. 

Wheeled excavators, also known as mobile excavators, are gaining popularity in various industries due to their mobility and versatility. These machines are widely used in construction purposes, infrastructural activities, mining sectors, and commercial activities, among others. The trend towards urbanization and the development of smart cities is driving the demand for wheeled excavators in megacities. Key trends in wheeled excavators include ride control, swing pump, and load-sensing hydraulics. These features enhance the machine's performance and efficiency in hilly areas and improve ground grip. The mining and quarrying, waste & recycling, forestry, demolition, and construction sectors are major consumers of wheeled excavators. Machines with higher load lifting capacity, stable stabilizers, and stringent emission control are in demand. Smart technologies, such as electric-powered wheel excavators and lithium-ion technology, are also gaining traction due to their sustainability and lower carbon footprints. Maintenance cost, operational speed, and arm and boom length are essential factors for buyers. Wheeled excavators offer a cost-effective alternative to crawler excavators, suction excavators, and dragline excavators. The construction sector, particularly road constructions, is a significant market for wheeled excavators due to their flexibility and maneuverability. In conclusion, wheeled excavators are essential machines for various industries, and their demand is expected to grow due to urbanization, sustainability, and smart technologies. Buyers should consider factors such as load lifting capacity, maintenance cost, and operational speed when selecting a wheeled excavator for their needs. 

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Market Challenges

• The Wheeled Excavator market is experiencing significant growth due to increasing infrastructure projects and construction activities. These machines offer mobility and versatility, making them a preferred choice for various applications. Key players in this market include Caterpillar, Komatsu, and Volvo Construction Equipment. They invest in research and development to enhance productivity and efficiency. The market is expected to continue its expansion in the coming years.
• Wheeled excavators face challenges in delivering optimal performance due to factors like hydraulic force, bucket size, arm length, and boom length. Operational speed is another concern, as wheeled excavators often lag behind crawler excavators. Infrastructural activities and commercial projects require heavy load lifting capacity, which can be a challenge for wheeled excavators. Stable stabilizers are essential for wheeled excavators to perform effectively on uneven terrain. Stringent regulations regarding emission control and environmental friendliness are driving the market towards eco-friendly machines. The construction sector, including road constructions, mining & quarrying, waste & recycling, forestry, demolition, and residential, commercial projects, is a significant consumer of excavators. Sustainable practices and reducing carbon footprints are key considerations. New technologies like electric-powered wheel excavators and lithium-ion technology offer promising solutions. However, challenges remain, such as the high cost of electric-powered machines and the need for charging infrastructure. Mining projects and large-scale construction sites may still favor crawler excavators due to their superior load lifting capacity and stability. Suction excavators and dragline excavators have their unique applications but face challenges in terms of versatility and cost-effectiveness compared to wheeled and crawler excavators. Front end loaders and backhoe loaders serve distinct purposes but face challenges in terms of maneuverability and versatility compared to excavators.

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Segment Overview 

This wheeled excavators market report extensively covers market segmentation by

1. Application 
• 1.1 Construction
• 1.2 Utility
• 1.3 Mining
2. End-user 
• 2.1 Contractors
• 2.2 Rental providers
• 2.3 Others
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Construction- Wheeled excavators play a crucial role in infrastructure development projects, offering versatility for demolition, excavation, and material transportation. Vendors are designing specialized wheeled excavators for construction, road building, and civil engineering applications. These machines, with digging ranges from 30 to 45 degrees, are employed in small-scale housing projects, landfilling, and large-scale projects like road development and marine structure construction. Wheeled excavators' ability to perform multiple tasks accelerates project completion, making them indispensable in the construction sector. Customized wheeled excavators, such as Hitachi's factory-modified models for demolition, material handling, forestry, and tunneling, further cater to specific end-users' demands. The expanding construction sector directly influences the global wheeled excavators market growth.

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Research Analysis

Wheeled excavators, also known as mobile excavators, are versatile construction machinery designed for various applications, particularly in the mining sectors, megacities, and smart cities. They offer the maneuverability of a truck with the digging power of an excavator. Wheeled excavators feature ride control systems for a smoother ride, swing pumps for efficient hydraulic flow, and load-sensing hydraulics for optimal performance. These machines are ideal for hilly areas and can handle a range of soils for construction purposes and heavy construction activities. With hydraulic forces up to 300,000 pounds, a bucket capacity of up to 1.5 cubic yards, and arm and boom lengths reaching over 30 feet, wheeled excavators outperform crawler excavators, suction excavators, and dragline excavators in terms of operational speed and mobility. The construction sector is a significant market for wheeled excavators, with a growing focus on sustainable practices and reducing carbon footprints. Infrastructure development projects, such as road construction, are major applications for these machines. The future of wheeled excavators includes electric-powered models, further reducing their environmental impact.

Market Research Overview

Wheeled excavators, also known as mobile excavators, are versatile construction machines designed for various applications in diverse sectors. These machines offer advantages over crawler excavators in terms of mobility and maneuverability, making them ideal for infrastructural activities in megacities and smart cities. With ride control, swing pump, and load-sensing hydraulics, they provide enhanced stability and efficiency in hilly areas. Wheeled excavators are used for heavy construction activities, soil excavation, and load lifting in mining sectors, commercial activities, urbanization, road constructions, and more. The machine's hydraulic force, bucket size, arm length, and boom length can be customized based on the specific application. Operational speed and ground grip are essential factors in the selection process. Maintenance cost, stringent regulations, and emission control are significant concerns in the industry. Environmentally friendly machines, such as electric-powered wheel excavators with lithium-ion technology, are gaining popularity in various sectors, including mining projects, residential projects, and commercial projects. In addition to wheeled excavators, other types of excavators include crawler excavators, suction excavators, dragline excavators, front end loaders, and backhoe loaders. These machines cater to specific needs in mining & quarrying, waste & recycling, forestry, demolition, and the construction sector. Sustainable practices and reducing carbon footprints are essential considerations in the excavator market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Construction
• Utility
• Mining
• End-user
• Contractors
• Rental Providers
• Others
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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