Market Overview

Earth moving equipment or also referred to as heavy equipment is heavy-duty vehicles designed for execution of construction tasks that mainly revolve around earthwork operations or other large construction tasks. Different types of heavy-duty vehicles are used in earthwork operations including crawlers, wheeled excavators, backhoe loaders, wheeled tractors, bulldozers, skid steer loaders, motor graders, etc. Furthermore, mini excavators are used to digging the surface or for demolition purposes. These excavators are smaller than other types therefore, used for small to medium-sized projects. Backhoe loaders or mechanical excavator whose bucket is attached by a hinge to a two-part arm and is drawn back to the machine when in operation.

The global Earth Moving Equipment Market was accounted for US$ 137444.1 Mn in terms of value and 970,199 Units in terms of volume in 2019 and is expected to grow at CAGR of 7.1% for the period 2020-2027.

Market Dynamics- Drivers

  1. Ongoing infrastructure projects are expected to drive growth of the global earth moving equipment market during the forecast period

Growing infrastructure projects such as railway, dams, highways, bridges, and roads are major factors boosting the demand for earth moving equipment. For instance, there are numerous ongoing infrastructure projects including Panama canal expansion, Gujarat International Finance Tech City (India), Hudson Yards Redevelopment Project (U.S.), Riyadh Metro (Saudi Arabia), Khazar Islands (Azerbaijan), Al Maktoum Airport (UAE), Jubail II (Saudi Arabia), Dubailand (UAE), South to North Water Transfer Project (China), and London Crossrail Project (UK). Thus, these factors are expected to drive growth of the global earth moving equipment market during the forecast period.

  1. Growing urbanization is expected to propel the global earth moving equipment market growth over the forecast period

In emerging economies such as Argentina, India, Brazil, and China, urbanization has increased significantly in the recent past. With the support of government in providing loans, an increase in FDI, and subsidies, the construction of commercial spaces is increasing day by day. Furthermore, increasing in population combined with demand for residential areas are other factors expected to propel the global earth moving equipment market growth in the near future.

Statistics:

Asia Pacific held dominant position in the global Earth Moving Equipment market in 2019, accounting for 57.04% share in terms of value, followed by North America and Europe, respectively

Figure 1: Global Earth Moving Equipment Market Share (%) in terms of Value, By Region, 2019

Earth Moving Equipment  | Coherent Market Insights

XYZ Market - Impact of Coronavirus (Covid-19) Pandemic:

Many governments around the globe such as India, Spain and Italy have imposed nationwide lockdown to prevent the spread of COVID-19 disease. For instance, India have imposed lockdown from 25 March to 1 May until the further notice. Lockdown resulted in the shortage of the workers at the construction sites. Due to the manpower shortage the construction sites are struggling to operate the earth moving equipment. Skilled workers are required to operate the earth moving equipment. Owing to above mentioned factors, the COVID-19 is expected to restrain the market growth during the year 2020.

Market Dynamics- Restraints

  1. Strict regulatory policies regarding emission are expected to restrain growth of the global earth moving equipment market during the forecast period

Strict regulatory emissions related to construction & mining equipment are major factors restraining demand for earth moving equipment. Government agencies such as Environmental Protection Agency (EPA) impose heavy penalties on manufacturers who are unable to comply with standard norms. This is due to the fact that construction industry utilizes more diesel engines than other sectors. However, these norms vary from territory to territory and region to region. Thus, these factors are expected to restrain growth of the market during the forecast period.

  1. Major concerns on safety & security are expected to hinder the global earth moving equipment market growth over the forecast period

Majority of equipment used on construction, mining, forestry, farming, and other industries are difficult to operate and should be handled with extreme care. Since this equipment is heavy and bulky, if they are not properly handled it could lead to injury or even death. This, in turn, is expected to hinder the global earth moving equipment market growth in the near future. According to the International Labor Organization (ILO), around 2.3 million people die every year, owing to accidents at workstations and occupational ailments. In economics terms, four percent of GDP is lost owing to occupational diseases and accidents.

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Earth Moving Equipment Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 137444.1  Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 7.1% 2027 Value Projection: USD 238,164.0 Mn
Geographies covered (27):
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East and Africa: South Africa, North Africa, Central Africa
Segments covered:
  • By Product Type: (Crawler/Wheeled Excavators, Mini Excavators, Backhoe Loaders, Crawler/Wheeled/Compact Loaders, Skid Steer Loaders, Bull Dozers/Crawler Tractors , Wheeled Tractors and Motor Graders)
Companies covered:

Caterpillar Inc., Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Terex Corporation, Volvo Construction Equipment, Liebherr Group, Deere & Company Xuzhou Construction Machinery Group Co. Ltd., Larsen & Toubro, Sany Heavy Industry Co Ltd., and Doosan Corporation.

Growth Drivers:
  • Ongoing infrastructure projects
  • Growing urbanization
Restraints & Challenges:
  • Strict regulatory policies regarding emission

Market Opportunities

  1. Increase in government investment can present lucrative growth opportunities

In each country, construction & mining sectors contribute to the growth of the country’s GDP. Furthermore, the governments are announcing new construction projects in next 10 years, which in turn, is expected to present excellent growth opportunities for market players in the near future. Some of the ongoing projects, which will be completed in next few years are Eight City (South Korea), Sabine pass LNG Terminal Expansion (Louisiana), Khazar Islands (Azerbaijan), SmartCity, Kochi (India), and Abdali Project (Jordan).

  1. Rising private-public partnership (PPP) to offer major business opportunities

Public and private sectors are making major investments in infrastructure combined with commercial and residential construction projects. The public-private partnership helps private investors with better guarantees and better institutional legal frameworks to accelerate country’s infrastructure construction. Some of the PPP projects include NH45 between Madurai and Chennai and Trichy (India), the port of Wilmington PPP project (U.S.), etc.

Figure 2: Global Earth Moving Equipment Market Value (US$ Mn), 2017 - 2027

Earth Moving Equipment  | Coherent Market Insights

The global Earth Moving Equipment market was valued at US$ 137,444.1 Mn in 2019 and is forecast to reach a value of US$ 238,164.0 Mn by 2027 at a CAGR of 7.1% between 2020 and 2027.

Market Trends

  1. Rental & leasing services is a major trend

According to Coherent Market Insights’ analysis, the construction sector creates 100% employment opportunities. Since earth moving equipment is relatively expensive and requires regular maintenance, majority of end users often lease or rent them. Some of the equipment that can be leased are backhoe loaders, excavators, bulldozers, crawler loaders, and motor graders. Leasing opens up an opportunity for builders to customize the equipment for their project purposes, get high level personal advice, and technical support.

  1. Integration of GPS system into earth moving equipment

Majority of manufacturers are integrating GPS machine control systems into the design of backhoe loaders, excavators, motor graders, and bulldozers. Installation of machine control systems in their equipment helps to improve the efficiency and allow the user to work from their office without physically present on sites. Furthermore, by reducing the need for rework and decreasing material wastage, machine control can help to improve the sustainability of operation.

Competitive Section

Key players operating in the global earth moving equipment market are Caterpillar Inc., Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Terex Corporation, Volvo Construction Equipment, Liebherr Group, Deere & Company Xuzhou Construction Machinery Group Co. Ltd., Larsen & Toubro, Sany Heavy Industry Co Ltd., and Doosan Corporation.

Key Developments

  1. Major companies in the market are involved in product launches, in order to enhance the product portfolio. For instance, in December 2019, Doosan Corporation introduced the Concept-X autonomous construction site concept at CONEXPO 2020.
  2. Key players in the market are involved in product development, in order to gain a competitive edge in the market. For instance, in Sany Heavy Industry Co Ltd. twelve new products at Excon 2019, which is the largest construction equipment exhibition in South Asia.

Earth moving equipment or also referred to as heavy equipment is heavy-duty vehicles designed for execution of construction tasks that mainly revolve around earthwork operations or other large construction tasks. Different types of heavy-duty vehicles are used in earthwork operations including crawlers, wheeled excavators, backhoe loaders, wheeled tractors, bulldozers, skid steer loaders, motor graders, etc. Furthermore, mini excavators are used to digging the surface or for demolition purposes. These excavators are smaller than other types therefore, used for small to medium-sized projects. Backhoe loaders or mechanical excavator whose bucket is attached by a hinge to a two-part arm and is drawn back to the machine when in operation.

Market Dynamics

Growing infrastructure projects such as railway, dams, highways, bridges, and roads are major factors boosting the demand for earth moving equipment. For instance, there are numerous ongoing infrastructure projects including Panama canal expansion, Gujarat International Finance Tech City (India), Hudson Yards Redevelopment Project (U.S.), Riyadh Metro (Saudi Arabia), Khazar Islands (Azerbaijan), Al Maktoum Airport (UAE), Jubail II (Saudi Arabia), Dubailand (UAE), South to North Water Transfer Project (China), and London Crossrail Project (UK). Thus, these factors are expected to drive growth of the global earth moving equipment market during the forecast period. In emerging economies such as Argentina, India, Brazil, and China, urbanization has increased significantly in the recent past. With the support of government in providing loans, an increase in FDI, and subsidies, the construction of commercial spaces is increasing day by day. Furthermore, increasing in population combined with demand for residential areas are other factors expected to propel the global earth moving equipment market growth in the near future.

Market Taxonomy

This report segments the Global Earth Moving Equipment Market on the basis of Product Type, SAN Type, Technology, End User, Vertical and Region. On the basis of Product Type, Global Earth Moving Equipment Market is segmented into Crawler/Wheeled Excavators, Mini Excavators, Backhoe Loaders, Crawler/Wheeled/Compact Loaders, Skid Steer Loaders, Bull Dozers/Crawler Tractors, Wheeled Tractors and Motor Graders On the basis of region, Global Earth Moving Equipment Market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the Global Earth Moving Equipment Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global Earth Moving Equipment Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the Global Earth Moving Equipment Market includes Caterpillar Inc., Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Terex Corporation, Volvo Construction Equipment, Liebherr Group, Deere & Company Xuzhou Construction Machinery Group Co. Ltd., Larsen & Toubro, Sany Heavy Industry Co Ltd., and Doosan Corporation.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global Earth Moving Equipment market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Earth Moving Equipment Market

Detailed Segmentation:

  • Global Earth Moving Equipment Market, By Product Type:
    • Crawler/Wheeled Excavators
    • Mini Excavators
    • Backhoe Loaders
    • Crawler/Wheeled/Compact Loaders
    • Skid Steer Loaders
    • Bull Dozers/Crawler Tractors
    • Wheeled Tractors
    • Motor Graders
  • Global Earth Moving Equipment Market, By Region:
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa
  • Company Profiles
    • Caterpillar Inc.
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Komatsu Ltd.
    • Hitachi Construction Machinery Co. Ltd.
    • Terex Corporation
    • Volvo Construction Equipment
    • Liebherr Group
    • Deere & Company Xuzhou Construction Machinery Group Co. Ltd.,
    • Larsen & Toubro,
    • Sany Heavy Industry Co Ltd., and
    • Doosan Corporation.

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Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, BY Product Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • SAN Type Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Earth Moving Equipment Market, BY Product Type, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Product Type Trends
    • Crawler/Wheeled Excavators
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Mini Excavators
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Backhoe Loaders
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Crawler/Wheeled/Compact Loaders
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Skid Steer Loaders
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Bull Dozers/Crawler Tractors
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Wheeled Tractors
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Motor Graders
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  5. Global Earth Moving Equipment Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, Product Type, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, Product Type, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, Product Type, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, Product Type, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, Product Type, 2020–2027(US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  6. Competitive Landscape
    • Company Profiles
      • Caterpillar Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Komatsu Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Hitachi Construction Machinery Co. Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Terex Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Volvo Construction Equipment
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Liebherr Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Deere & Company Xuzhou Construction Machinery Group Co. Ltd.,
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Larsen & Toubro,
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Sany Heavy Industry Co Ltd.,
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Doosan Corporation.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  7. Section
    • References
    • Research Methodology
    • About us and Sales Contact

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Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users