Wheeled Excavators Market: Introduction
- Excavators are a type of earthmoving moving vehicles designed generally for digging out earth. Wheeled excavators are similar to tracked excavators in operation with a difference that they run on wheels. They are equally powerful and productive as tracked excavators. Wheeled excavators possess advanced controls, high ground clearance, and easy maneuverability in confined spaces.
- Growing array of applications for wheeled excavators including undercutting concrete or asphalt, patching, shoulder work, kerb and gutter repair, landscaping, spreading top soil, fine grading, laying pipe, placing manholes or ditch cleaning are driving the global wheeled excavators market.
Key Drivers of Wheeled Excavators Market
- Economic expansion coupled with growing population has propelled the investment for improvement of infrastructure in developing as well as developed countries. Governments are investing heavily in the development of infrastructure to boost industrial growth and trade activities and to facilitate high quality living settlements for the population. In 2016, the Government of Canada released a plan to invest US$ 141 Bn for the development of the country’s infrastructure. Growing infrastructure development activities have boosted the sales of construction equipment. Wheeled excavators are ideally suited for infrastructure development projects owing to their capabilities to maneuver easily on roads and in tight corners, minimizing lane closures to avoid hindrances for regular traffic movement. Thus, rapid increase in infrastructure development activities is driving the demand for wheeled excavators across the globe.
- Industry participants are continuously innovating new types of wheeled excavators and their fittings, which has led to diversification in the operations these equipment are used for. Industrial application of wheeled excavators for material handling activities has been growing significantly. Forestry, agriculture, and landscaping sectors are also increasingly adopting wheeled excavators to perform various functions such as mulching and compost hole digging. Emergency service providers and municipal corporations have also integrated wheeled excavators in their fleets due to their fast transportation from one site to another without assistance of trailers. These developments in excavator designs and an increase in number of applications are fueling the global wheeled excavator market./li>
Restrains of Wheeled Excavators Market
- The primary drawback of wheeled excavators is their instability on uneven surfaces, which restricts their application for off-road activities, thus hampering the global wheeled excavators market
Impact of COVID-19 Pandemic on Global Wheeled Excavators Market
- The COVID-19 pandemic negatively impacted the supply chains of industries and lockdowns forced them to shut down operations, which hampered the production of wheeled excavators. However, demand for wheeled excavators increased for waste management, as heaps of medical waste was generated during the pandemic that was not safe to be handled by human workers. Thus, COVID-19 pandemic had a mixed impact on the global wheeled excavators market.
North America and Europe to Hold Significant Share of Global Wheeled Excavators Market
- North America and Europe accounted for a significant share of the global wheeled excavators market owing to on-going infrastructure development activities in these regions. Multiple smart city initiatives have been started in these region, which in turn have increased the demand for wheeled excavators for roadwork, clearing ditches, and cutting away pervasive vegetation among multiple other activities. Thus, a rise in the adoption of wheeled excavators amidst several infrastructure development initiatives across North America and Europe have heightened their share in the global wheeled excavators market.
Key Players Operating in Wheeled Excavators Market
The global wheeled excavators market is highly competitive due to presence of major players. Key players operating in the global wheeled excavators market are:
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- AB Volvo
- Caterpillar
- Doosan Corporation
- Hitachi Construction Machinery Co., Ltd.
- Hyundai Construction Equipment Co., Ltd.
- JCB
- Komatsu
- Liebherr
- Mahindra Construction Equipments
- RSP GmbH
- SANY GROUP
- XCMG Group
- YANMAR HOLDINGS CO., LTD.
Global Wheeled Excavators Market: Research Scope
Global Wheeled Excavators Market, by Type
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- Long Reach Excavator
- Backhoe Excavator
- Skid Steer Excavator
- General Purpose Excavator
- Suction Excavators
Global Wheeled Excavators Market, by Application
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- Construction & Infrastructure
- Mining
- Waste Disposal
- Emergency Services
- Material Handling
- Others
Global Wheeled Excavators Market, by Size
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- Compact Size Excavators
- Medium Size Excavators
- Large Size Excavators
Global Wheeled Excavators Market, by Region
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Nordic Region
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- South Korea
- ANZ
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- GCC
- South Africa
- Turkey
- Rest of Middle East & Africa
