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2016-2024
Global Excavator Market Outlook 2024: Opportunity & Growth Analysis, 2016-2024
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Key Findings
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The annual Excavator sales by volume in Africa is expected to witness consistent growth during the time period 20162024 at a CGAR of XX%. Increasing construction and mining projected in region is expected to boost the demand for Excavator in the region As of 2016, the Excavator sales in Africa increased from XXXX Units in 2015 to XXXX units in 2016 showing a growth of XX %. Excavator sales in South Africa reached XXXX units with XX number of construction projects in 2016 As a result, if seen from the big market point of view, Excavator demand is higher for lifting up the debris and soil using hydraulic power mechanisms. Moreover, rising number of other applications such as landscaping, material handling, construction, demolition and river dredging are boosting the demand for Excavator in African countries With XXXX units in 2016, backhoe has the highest demand followed by crawlers Excavator s. Large scale projects of railways, energy & mining sector and construction sector in emerging economies are expected to propel the demand for Excavator in Africa region North Africa is an economically prosperous area, generating one-third of Africa's total GDP. Oil production is high in Libya. North Africa has increased its infrastructure spending by XX% in 2016 as compared to 2015. This led to the sales of Excavator in North Africa reached to XXX units from XXX units in 2015
Total sales of excavator in Algeria and Egypt reached XXX units in 20116 as compared to XXX units in 2015, worth XX billion, owing to the large scale ongoing projects in the region
Total Excavator Shipments in Africa (In Units)
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East & West Africa
South & North Africa
2016
XX Million Units
XX Million Units
2024
XX Million Units
XX Million Units
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Major Players Presence-Regional Analysis
Major Players/ Industries
North America
APAC
Europe
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Latin America
Middle East & Africa
Caterpillar Bobcat Komatsu JCB John Deere Kanu Equipment Hitachi Kobelco
High Penetration
Medium Penetration
Low Penetration
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ROW
Global Excavator Market Size (USD Billion) & Growth Analysis Global Excavator Market Size (USD Billion)-2016-2024
Global Excavator Market Y-O-Y Growth (%) Analysis-2016-2024 XX
XX
XX%
XX
XX
XX%
XX
XX
e l p
XX%
XX
XX% XX% XX% XX% XX% XX% XX% XX% XX% XX%
XX
XX
XX%
XX
XX XX
XX
XX
XX XX
XX%
XX
XX%
m a S
XX%
XX
XX% XX%
XX
XX%
2016
XX
2016
2017
2018
Source: Goldstein Research
2019
2020
2021
2022
2023
2024
2017
2018
2019
2020
2021
2022
2023
Source: Goldstein Research
Global Excavator market is anticipated to expand at a compound annual growth rate of XX% during the forecast period i.e. 2016-2024. Moreover, Excavator sales reached from XXXX units in 2015 to XXXX units in 2016 Excavator market growth rate declined in 2014 by XX%, due to the declining number of construction projects. Moreover, projects those were funded by International Development Finance Institution were decreased in 2016 as compared to 2015 and is expected to impact the growth of global Excavator market. Uncertain exchange rate, trade policy and political instability emerging economies which are impacting the construction and mining projects growth and eventually hindering the growth of Excavator market.
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2024
Market Dynamics
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Growth Drivers
Government Government Funding Funding on on Infrastructural Infrastructural Projects Projects
Growth Barriers
m a S Rising Investment in Infrastructure
e l p Decline in Commodity Prices
Lack of Political Stability
General Trend
Low
Moderate
High
Excavator Market Copyright
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Global Excavator Market Size (USD Billion) & Y-O-Y growth (%),2016-2024 Excavator Market Share(%), By Product Type, 2016-2024
Excavator Market Size (USD Billion)-2016-2024
182,928. 172,928. 4 4 152,928. CAGR: (2016-2024) 141,934. 4 131,569. 5 122,244. 113,569.4 105,774. 9 8 7 98,541.8 XX%
2016
2017
2018
Source: Goldstein Research
2019
2020
m a S 2021
2022
2023
Sales of Excavator ( In Units), 2016-2024
XX
2016
XX
2024
2024
e l p
14.0016.00 % % 20.00 2016 % 50.00 %
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Backhoe
Suction Excavators
13.0015.00 % % 18.00 2024 %
Dragline Excavators
54.00 %
Source: Goldstein Research
Excavator Market Size (USD Million), By Power Range-2016-2024
XX 2016 XX XX 0-300 BHP
Source: Goldstein Research
Crawlers Excavators
XX 2024 XX XX 300-500 BHP
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500 & Above
Porter’s Five Force Model
Customer can not easily switch to substitute products. So substitutes are a not a threat to your company. When there are actual and potential substitute products available then segment is unattractive. Profits and prices are effected by substitutes so, there is need to closely monitor price trends. In substitute industries, if competition rises or technology modernizes then prices and profits decline.
Barriers to Entry HIGH
Supplier Power: HIGH
Intensity of competition among the existing competitors in the market. Intensity of rivalry depends on the number of competitors and their capabilities. Industry rivalry is high when: •There are number of small or equal competitors and less when there’s a clear market leader. •Customers have low switching costs •Industry is growing •Exit barriers are high and rivals stay and compete •Fixed cost are high resulting huge production and reduction in prices Copyright
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The Barriers to Entry are significantly high which means that it is difficult for outside companies to enter the industry. New entrant is require to offer the innovative and distinguish service or product in order to make place in the competitive space, only such a player tends to establish its market presence and obtain the necessary clearance from regulatory agencies and obtain the profit.
e l p
Threat of new entrants
m a S Bargaining power of suppliers
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Industry Competitors: HIGH
Bargaining Power of buyers
Buyer Power: Low
Threat of substitute products
Substitutes: Low
The power of Buyers is significantly Low and they are not able to negotiate for better pricing. However on the supplier side, the power of Suppliers is high as there are multiple supplier for a particular operations, for companies to compete on price when they do not have any point of differentiation.
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