Dublin, July 19, 2021 (GLOBE NEWSWIRE) -- The "India Crawler Excavator Market - Strategic Assessment & Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.
India crawler excavator market to grow at a CAGR of 5.41% during the period 2018-2027.
Increasing demand for crawler excavators is attributed to investments by developed countries, favorable government policies and FDIs, shifting focus toward domestic manufacturing and upcoming industrial developments in the mining and construction industries are major drivers in the market.
The report considers the present scenario of the India crawler excavator market in India and its market dynamics for the forecast period 2021-2027. It covers a detailed overview of several growth enablers, restraints, and trends in the market. The study includes the volume and value sales with segment analysis of the India crawler excavator market.
INDIA CRAWLER EXCAVATOR MARKET - VENDOR LANDSCAPE
Manufacturers are making operational advances in their excavator motors, hydraulic systems, structures, tracks, and cab construction to improve their telematics fuel efficiency and competitiveness. With several global players, the need for product differentiation has led to the up-gradation of technology such as remote access, autonomous machines etc.
Integration of IoT is expected to be the next big thing in the India crawler excavator market. One of the key vendors BEML is planning to develop products in view of technological developments such as the adoption of AI-enabled technologies on BEML products.
KEY HIGHLIGHTS FROM THE REPORT
Excavators used in the construction industry accounted for the largest market share of around 39%.
Big projects such as Sagarmala, Bharatmala Programme for port modernization, Airport up-gradation and development, increasing connectivity and port-linked industrial hubs, AMRUT, Jal Marg Vikas, Diamond Quadrilateral for high-speed railways, river linkages, and bullet trains are set to increase the demand for excavators across India.
India's crawler excavator market by mining is expected to reach 6,598 units by 2027, growing at a CAGR of 5.79%.
102-200 hp gross power excavator accounted for the largest market share of around 42.2%.
INDIA CRAWLER EXCAVATOR MARKET INSIGHTS
Urbanization and rapidly growing investments in the infrastructure sector and other government strategic initiatives will further push the construction sector, creating growth opportunities in the market.
The Indian crawler excavator market is witnessing rapid growth in demand for medium crawler excavators.
The government is focusing on green building projects to promote demand for fuel-efficient, lesser emission crawler excavators.
Increasing government initiatives such as increasing the steel production capacity to 300 Mt by 2030 indicates future demand for large excavators used in mining.
Exploration activities are doubled by implementing about 400 mineral exploration projects on various mineral commodities and will witness high demand in the crawler excavators across India.
Due to the increased procurement and maintenance cost of excavators, rentals are preferred by the contractors; thus, the rental market in the future will rise eventually in the India crawler excavator market.
Through advanced analytics, Caterpillar assisted dealers in better forecasting customers' demand and enable them to improve parts availability in the Indian excavator market.
WHY SHOULD YOU BUY THIS REPORT?
This report is among the few in the market that offers outlook and opportunity analysis forecast in terms of
Volume (Unit sales)
Excavator Type and Operating Weight
Gross Power Output
Gain competitive intelligence about the economic scenario, advantages in India, major
projects and investments, market dynamics, market share
Examples of latest technologies
Get presentation-ready format and easy-to-interpret data
Enable decision-makers to make informed and profitable choices
Gain expert quantitative and qualitative analysis on value/volume growth projections of the India crawler excavator market
Complete supply chain analysis
Get COVID-19 impact analysis of the market
Company Profile of 16 major vendors
KEY QUESTIONS ANSWERED:
1. What was the unit volume of the India crawler excavator market in 2018?
2. What are the technological developments in the excavator market in India?
3. What are the factors driving the demand for crawler excavators?
4. Who are the top players in the India Crawler Excavator Market?
5. What is the impact of COVID-19 on the crawler excavator market growth?
Tata Hitachi Construction Machinery (THCM)
Bharat Earth Movers Limited (BEML)
Volvo Construction Equipment
Kobelco Construction Equipment India
Hyundai Construction Equipment
Other Prominent Vendors
Sumitomo Construction Machinery
Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
INDIA CRAWLER EXCAVATOR MARKET - SEGMENTAL ANALYSIS
>200hp demand is majorly driven by mining activities which are expected to witness significant growth with the government plan to implement 400 exploration projects as allowing 100% FDI in mining sectors.
Roads & highways generate secondary demand for cement, steel & other minerals and will further boost the demand for crawler excavators.
Excavators beyond 30 tons are used majorly for mining apart from heavy construction work.
Market Segmentation by Excavator Type and Operating Weight
((Mini (>6 tons)
Small (6-15 tons)
Medium (15-30 tons)
Large (above 30 tons))
Market Segmentation by Application
Market Segmentation by Gross Power Output
For more information about this report visit https://www.researchandmarkets.com/r/70jbl7
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