Asia Pacific Excavator Market Research Report, 2027

The Asia-Pacific region is expected to emerge as a world leader in the global excavator market over the forecast period. The construction of roads and infrastructure is expected to increase rapidly in developing countries. Growing industrialization across the region and increasing investments in infrastructure development would boost the excavator market in the Asia-Pacific region. The Asia-Pacific excavator market has witnessed substantial growth owing to rising investments in the construction sector, particularly in emerging countries including India, China, and South Korea. Additionally, the Asia-Pacific excavators market will witness considerable growth in the coming years due to increasing investment by the government as well as private organizations in infrastructure development. Based on the obtained data, the Asia-Pacific excavator market in developing countries such as India, China, and Indonesia is expected to experience the fastest growth over the forecast period. According to the report, "Asia-Pacific Excavator Market Research Report, 2027" published by Actual Market Research, the market stood at around USD 18 billion in 2021, which is anticipated to expand at more than 7.5% CAGR for 2022–2027. Asia's economy is anticipated to grow by around 512% in the year, which accounts for two-thirds of the global growth. It allows the region to be the world's most dynamic region by a considerable margin. Many countries in Asia face the challenge of an ageing population and declining productivity growth with a need for structural reforms. As the global economy is becoming increasingly digitalized and more transformations are occurring with recent advancements, it brings in more challenges related to the future of work. Asia has been embracing the digital revolution with a significant dissimilarity across the region. With the advancement in technology and the shift in the concentration of the governments towards the improvement of the infrastructure, the market for excavators is set to bloom in the Asia-Pacific market. On the basis of types, the crawler excavator segment is the dominating segment in the Asia-Pacific excavator market due to its higher capacity to carry weights and greater suitability for application in muddy conditions. They also allow safer and faster removal of debris, along with simple and easier digging procedures. The construction segment, which includes residential and commercial buildings, and the infrastructure segment, drives the Asia-Pacific vehicle market mainly. The increasing transformation activities in the construction and infrastructure of the region have been the main reason for the rapid growth of the excavator market in the region. The infrastructure in the region is experiencing government and private investments as a part of the national development and urbanization strategies. Aside from that, the efforts of enhancement projects for development in Asia Pacific's rural regions are the primary drivers of the market. Moreover, the economic stability and increasing income of several countries, including Nepal, Sri Lanka, and Bangladesh, in recent years have supported the development of roads, irrigation systems, airports, and hydropower plants, further adding to the demand for machinery. Considering the individual countries, Japan rules the Asia-Pacific market for excavators, while the overall market is dominated by the smaller countries of the region put together. Despite Japan's significant contribution to the market, the share has been observed to fall marginally over the years, and the share is expected to fall by approximately 20% by the end of the forecast period. The Indian excavator market has shown impressive growth over the years, with the highest growth rate. Apart from the major countries, the contributions of the other smaller countries in the region are immense. This segment has grown owing to the constant development in those countries, and has contributed around 40% of the total market share of the Asia-Pacific excavator market. COVID-19 Impacts: The global crisis due to the novel corona-virus has resulted in a slowdown of economic activity worldwide. The region has seen the closure or postponement of major construction projects, which will impede the growth of the excavators market for a short period of time. However, the growing industrialization rate across the region and the increasing adoption of modern lifestyles are projected to increase the demand for excavators across the Asia-Pacific market. Major Companies Present In the Market Caterpillar Private Limited, CNH Industrial, Doosan Infracore, Epiroc Construction Machinery Co. Ltd, Hitachi Construction Machinery Co. Ltd, J C Bamford Excavators Ltd, John Deere Ltd, Kobe Steel Ltd, Komatsu Ltd., Kubota Corporation, Liebherr Group, Metso Corporation, Sandvik Mining And Rock Technology, Sany Group, Terex Corporation, Volvo Construction Equipments, XCMG Ltd., Zoomlion Co. Ltd Considered In the Report • Geography: Asia-Pacific • Historical year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecasted year: 2027 Countries covered: • Japan • China • India • Australia • Rest of Asia-Pacific Aspects Covered In the Report • Market Size By Value for the historic time period (2016-2021) • Market Size By Value for the forecast time period (2022-2027) • Market Share by Application (Construction, Mining, utility & agriculture) • Market Share by Machine Type (Mini Excavator, Crawler, Wheeled, Others) • Market Share by Country (2016, 2021 & 2027F) 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.