The US has been funding infrastructure development initiatives such building roads, bridges, tunnels, and railroads. Excavators are needed for these projects for activities like excavating, grading, and clearing land, which increases demand for excavators in the market. The construction sector plays a significant role in the demand for excavators. Residential, commercial, and industrial construction projects rely on excavators for various applications, including site preparation, foundation digging, trenching, and material handling. The United States excavator market has witnessed technological advancements, leading to the introduction of advanced features and capabilities. These include improved fuel efficiency, enhanced operator comfort and safety, GPS and telematics integration, and the use of hybrid or electric-powered excavators. The rental market for excavators is prominent in the United States. Construction companies, contractors, and other end-users often prefer to rent excavators instead of purchasing them outright due to the high initial investment costs. This trend has contributed to the growth of the rental segment in the market. Environmental regulations and the increasing focus on sustainability have influenced the excavator market in the United States. There is a growing demand for excavators with lower emissions and reduced environmental impact. Manufacturers are developing excavators that comply with emission standards and offer eco-friendly features. The United States excavator market is competitive, with several global and domestic manufacturers operating in the country. Some of the key players in the market include Caterpillar Inc., Deere & Company, Komatsu Ltd., Volvo Construction Equipment, and Hitachi Construction Machinery. The demand for compact excavators, also known as mini excavators, has been rising in the United States. Compact excavators are versatile and suitable for various applications in urban environments, residential projects, and landscaping tasks. They offer maneuverability, ease of transportation, and reduced environmental impact. The market has also seen a significant demand for excavator replacements. Older machines are being replaced with newer models that offer improved efficiency, advanced features, and better performance. This replacement cycle has contributed to the overall market growth. According to the report, ""United States (US) Excavator Market Overview, 2029"" published by Bonafide Research, the United States (US) Excavator market is anticipated to grow at more than 2.69% CAGR from 2024 to 2029. The United States is one of the largest markets for excavators globally and holds a significant market share. The country's construction industry and infrastructure development projects contribute to the strong demand for excavators. Excavators in the United States have high utilization rates, indicating their essential role in construction activities. The versatility and range of applications of excavators make them widely used equipment in various construction projects. Excavators are highly versatile machines capable of performing multiple tasks. They can be equipped with various attachments such as buckets, hydraulic breakers, grapples, and augers, enabling them to handle tasks like digging, grading, demolition, material handling, and more. The United States excavator market has seen significant technological advancements. Manufacturers have introduced features such as advanced hydraulic systems, telematics integration, intelligent control systems, and GPS tracking to enhance efficiency, productivity, and operator comfort. The demand for compact excavators has been growing in the United States. Compact excavators are smaller in size and are ideal for projects in tight spaces or urban environments. They offer enhanced maneuverability without compromising on digging capabilities. Fuel efficiency is a key consideration in the United States excavator market. Manufacturers are continuously developing excavators with improved fuel consumption rates to minimize operational costs and reduce environmental impact. The market has witnessed a push for excavators that comply with strict emission standards, such as Tier 4 Final regulations. These regulations aim to reduce exhaust emissions and promote cleaner, more eco-friendly equipment. Excavator manufacturers in the United States provide customization options to meet specific customer requirements. This includes modifications in attachments, auxiliary hydraulics, cab features, and control systems to enhance machine performance and operator comfort. The market has seen a growing interest in electric excavators as a part of the broader trend towards electrification in the construction industry. Electric excavators offer zero-emission operation, reduced noise levels, and potential cost savings on fuel and maintenance.
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Download SampleWith growing automation and technical advancements, United States (US) manufacturers are implementing digital assistance tools for efficient control and optimal performance. The implementation of cameras, sensors, and machine monitoring systems will assist operators to do their job efficiently. Telematics is a new trend for excavators across the country. It uses a large amount of data for predictive analysis to automate the functioning of excavators. The visual guidance system allows operators to input parameters, such as depth and slope, offering operational efficiency. The excavation procedure is a contaminative process and creates harmful environmental conditions, resulting in the introduction of eco-friendly electric excavators. The United States (US) excavator market is witnessing growth in agriculture applications globally owing to usage in essential farming and farm maintenance operations. The mini models aid farmers to dig and lay down water and sewage supply lines, providing a better irrigation environment. To reduce effort and maximize productivity, farmers use excavators for digging and loading sand and gravel. According to the report, the market is segmented into two applications, including construction and mining; and utility and agriculture. Among these types, construction applications led the market in 2023 and are expected to continue growing during the upcoming timeframe. The increasing investments and funding in the residential construction segment, followed by transport infrastructure development, are projected to augment the prospects for growth in this market during the forecast period. This will result in a steady market growth rate and boost the sales of excavator manufacturers. Further, the market is segregated into various machine types, including mini excavators, crawler excavators, wheeler excavators, and others. Among these types, crawler excavators are anticipated to dominate the market during the forecast period. The rising demand for government assistance for construction and the expansion of the mining industry is expected to drive higher market growth for crawler excavators in United States (US). COVID-19 Impacts: The onset of the novel corona-virus pandemic has been a huge blow to the excavators’ market share that was anticipated to grow during the forecast period. The limitations, like the implementation of lockdown followed by the rising need for employment and funds, are hampering the ability of the market to grow. However, as the period commences, the United States (US) market operations are likely to commence with the ease of restrictions, and hence, positive attributes are in store for the market.
Considered In the Report: • Geography: United States (US) • Historical year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecasted year: 2029 By Machine Type •Mini Excavator •Crawler •Wheeled •Others By Application •Construction •Mining •Utility •Agriculture
Aspects Covered In the Report: • Market Size By Value for the historic time period (2018-2023) • Market Size By Value for the forecast time period (2024-2029) • Market Share by Application (Construction, Mining, utility & agriculture) • Market Share by Machine Type (Mini Excavator, Crawler, Wheeled, Others) The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations; validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the construction machinery and excavator industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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