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The wheeled excavators market size is forecast to increase by USD 1.29 billion and is estimated to grow at a CAGR of 4.36% between 2023 and 2028. The global wheeled excavator market is experiencing significant growth, driven by the surge in residential and commercial construction activities. This trend is particularly prominent in emerging economies, where infrastructure development is a priority. Additionally, new product launches by market vendors, such as Volvo Construction Equipment's EC220E and Caterpillar's 320 GC, are fueling market growth. However, the market is not without challenges. Volatility in raw material prices, particularly steel and rubber, poses a significant threat to profitability. Manufacturers must navigate these price fluctuations to maintain competitiveness. Furthermore, stringent regulations regarding emissions and safety are increasing the cost of production, putting pressure on margins. Despite these challenges, the market is expected to continue its growth trajectory, driven by the demand for efficient and versatile construction equipment.
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Wheeled excavators, also known as mobile excavators, are versatile construction machines designed for various applications in the mining sectors, megacities, and smart cities. These excavators are equipped with ride control systems, swing pumps, and load-sensing hydraulics, making them ideal for heavy construction activities in hilly areas and working with soil. The operational speed, arm length, and boom length of wheeled excavators make them efficient for construction purposes. Wheeled excavators differ from crawler excavators, suction excavators, and dragline excavators in their mobility. They offer the advantage of reduced ground pressure and ease of transportation, making them suitable for infrastructure development projects with minimal impact on the environment. With a focus on sustainable practices and reducing carbon footprints, electric-powered wheel excavators are gaining popularity in the market. The construction sector is the major consumer of wheeled excavators, and the demand is expected to grow due to the increasing need for infrastructure development and road construction. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rise in residential and commercial construction activities is notably driving the market growth. Wheeled excavators, also known as mobile excavators, are versatile construction machines designed for various applications, including infrastructural developments, commercial activities, and urbanization projects. These machines offer advantages over crawler excavators, such as greater mobility and maneuverability, making them ideal for use in megacities and smart cities.
Moreover, wheeled excavators come equipped with advanced features like ride control, swing pump, and load-sensing hydraulics, which enhance their performance in hilly areas and provide better ground grip. The construction sector, particularly heavy construction activities, utilizes wheeled excavators for soil excavation, load lifting, and material handling. With a wide range of bucket, arm length, and boom length options, these machines cater to diverse requirements. Thus, such factors are driving the growth of the market during the forecast period.
New product launches by market companies is the key trend in the market. Wheeled excavators, also known as mobile excavators, are versatile machines used extensively in various sectors for soil excavation and material handling. In mining and quarrying, they are employed for heavy-duty tasks, while in megacities and smart cities, they contribute significantly to infrastructural activities and commercial projects.
Moreover, these machines offer ride control, swing pump, and load-sensing hydraulics, making them ideal for hilly areas with challenging ground conditions. Wheeled excavators come with a bucket, arm length, and boom length that can be customized based on specific requirements. Operational speed, load lifting capacity, and stability are crucial factors that differentiate them from crawler excavators, suction excavators, and dragline excavators. Thus, such trends will shape the growth of the market during the forecast period.
Volatility in raw material prices is the major challenge that affects the growth of the market. Wheeled excavators, also known as mobile excavators, are versatile construction machines designed for various applications in various sectors, including mining, megacities, and smart cities. These machines offer advantages such as ride control, swing pump, and load-sensing hydraulics, making them ideal for use in hilly areas and ground conditions that are challenging for crawler excavators.
Moreover, with a focus on reducing maintenance costs, wheeled excavators provide operational speed and agility, making them suitable for heavy construction activities and infrastructural projects. Wheeled excavators are available in different sizes and configurations, including those with long arm lengths, boom lengths, and load lifting capacity. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AB Volvo: The company offers wheeled excavators such as Volvo wheeled excavator, Comparable trunk mounted excavator, and others.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The construction segment is estimated to witness significant growth during the forecast period. Wheeled excavators, a type of excavator, play a significant role in various sectors such as mining, megacities, and smart cities, where infrastructural activities and commercial developments are on the rise. These machines are engineered to cater to diverse applications, including construction purposes, heavy construction activities, and urbanization projects.
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The construction segment was the largest segment and valued at USD 2.50 billion in 2018. The digging range of wheeled excavators extends from 30 degrees to 45 degrees, making them suitable for small-scale housing development projects and large applications like road development and marine structure construction. In hilly areas, wheeled excavators offer enhanced ground grip for stability, while load-sensing hydraulics and swing pump ensure optimal hydraulic force for bucket and arm movement. Hence, such factors are fuelling the growth of this segment during the forecast period.
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APAC is estimated to contribute 54% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The wheeled excavators market in the Asia Pacific (APAC) region is experiencing significant growth due to the increasing commercial and residential construction activities in countries like India, China, and Japan. This expansion is driven by the need to provide residential and commercial spaces for the growing urban population. Sustainable practices are increasingly being adopted in the construction industry to reduce carbon footprints, leading to an increase in demand for electric-powered wheel excavators. Hence, such factors are driving the market in APAC during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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Wheeled excavators, also known as mobile excavators, are versatile machines used for various construction purposes and heavy industrial applications. These machines differ from crawler excavators in their mobility, making them ideal for use in megacities and smart cities where space is limited. Wheeled excavators offer advantages such as ride control, swing pump, and load-sensing hydraulics, making them suitable for hilly areas with challenging ground conditions. The mining sectors, infrastructure activities, commercial activities, urbanization, road constructions, and other heavy construction activities drive the demand for wheeled excavators. The load lifting capacity, arm length, and boom length of these machines vary depending on the application. Wheeled excavators are used in various industries, including mining & quarrying, waste & recycling, forestry, demolition, and construction sector. The machine's operational speed and hydraulic force make it an essential tool for soil excavation and load lifting. Stable stabilizers ensure the machine's stability during operation, while stringent regulations and emission control measures are driving the development of environment-friendly machines. The market for wheeled excavators is competitive, with major players including Caterpillar, Komatsu, Volvo Construction Equipment, and Hitachi Construction Machinery. Maintenance cost is a significant factor in the selection of wheeled excavators over other types of excavators, such as crawler excavators and suction excavators. Additionally, the use of front end loaders and backhoe loaders in place of wheeled excavators for specific applications affects the market dynamics. Overall, the wheeled excavator market is expected to grow significantly due to the increasing demand for infrastructure development and urbanization.
Market Scope |
|
Report Coverage |
Details |
Page number |
192 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.36% |
Market growth 2024-2028 |
USD 1.29 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.23 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 54% |
Key countries |
China, US, Japan, UK, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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 Global , 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. |
Market dynamics |
Parent market analysis, market report , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Five Forces Analysis
7 Market Segmentation by Application
8 Market Segmentation by End-user
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Opportunity/Restraints
12 Competitive Landscape
13 Competitive Analysis
14 Appendix
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