According to the research report titled ‘Excavator Market Share, Size, Trends, & Industry Analysis Report By Product Type; By Application; By Region, Segment Forecasts, 2020 – 2026’, available with Market Study Report, global excavator market is expected to reach a valuation of USD 62.2 billion by the year 2026.
 

Rapid expansion of the construction industry along with beneficial properties associated with the product such as high maneuverability, compact size and durability are prime factors fueling the growth of global excavator market.
 

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Increasing infrastructural development and technological advancements have allowed for the extensive use of advanced machinery and equipment, which in turn is aiding the overall market expansion. These technological breakthroughs have also enabled for the development of high performance excavators with robust and efficient construction equipment.
 

For those unfamiliar, excavators are construction equipment which are integrated with a dipper and a bucket which are fixed on a mobile platform. The machine helps in excavation, picking, landscaping, placing construction materials and demolition activities.
 

These machineries are witnessing high demand in the recent past since they aid in achieving labor-intensive tasks, further stimulating global excavator market outlook. However, lack of skilled technicians and operators is expected to hamper the industry remuneration in the upcoming years.
 

From the regional point of view, Asia-Pacific excavator market is predicted to expand significantly during the forecast period, with China being one of the major revenue generators. Rapid urbanization and increasing infrastructural development in China as well as in India are paving the way for the growth of excavator market in Asia-Pacific.
 

On the other hand, other regions such as Middle East & Africa, North America, Europe are also estimated to develop as key contributors towards global excavators market outlook. Booming oil & gas industry and focus towards producing environment friendly machinery owing to the deployment of new emission regulations are major factors complementing the business outlook in Middle East & Africa.
 

Kobelco Construction Machinery America LLC, Kato Works Co. Ltd., Hitachi Ltd., Caterpillar Inc., Doosan Bobcat Inc., CNH Industrial N.V., Kubota Corp., Liebherr Group, Komatsu Ltd., John Deere (Deere & Co.) are the prominent companies operating in global excavator market.