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The Japan excavator market size is estimated to grow at a CAGR of 4.75% between 2022 and 2027 and the size of the market is forecast to increase by USD 963.34 million. The growth of the market depends on several factors, including the development of healthcare facilities and disaster prevention projects, infrastructure development in Japan, and the growth of the construction industry.
Analysis Period | 2017-2027 |
Market Size (2017) Historic Year | USD 3527.26 mn |
Market Size (2027) - Forecasted Year | USD 4654.64 mn |
Historic Opportunity (2017-2021) | USD 43.09 mn |
Historic CAGR | 0.30% |
Forecasted Opportunity (2023-2027) | USD 963.34 mn |
Market Opportunity Transformation Growth | 31.96% |
Market Opportunity Capitalization | USD 1006.43 mn |
This report extensively covers market segmentation by type (crawler excavator, mini excavator, and wheeled excavator) and application (construction, mining, and utilities). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our analysis of the adoption life cycle of the market indicates its movement between the innovator’s stage and the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Japan Excavator Market Customer Landscape
Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
Key Driver
One of the key factors driving the Japan excavator market growth is the infrastructure development in the region. Japan has been known for its advanced infrastructure and continuous efforts to enhance it further. Hence, there is a rising demand for excavators in different construction projects nationwide. Some of the key applications of excavators in construction areas include building new roads, bridges, tunnels, railways, and other transportation systems.
Moreover, the excavator is an essential component in these construction areas as they are used for tasks such as digging foundations, trenching, and earthmoving. Furthermore, the maintenance and expansion of existing infrastructure are also significantly contributing to the global excavator market growth in the region. Hence such factors are expected to drive the excavator market in Japan during the forecast period.
A key factor shaping the Japan crawler excavator growth is the availability of attractive offers and financing options. Most utility operators in Japan prefer to own their own excavators rather than rent them for excavation activities, but the ownership of excavators involves high upfront investments. Hence, some manufacturers are providing these end-users with attractive financing options to boost their sales.
One of the main advantages of these financing options by manufacturers is that it offers the end-user companies the opportunity to procure the equipment with a minimal effect on their finances. As a result, these excavator manufacturers are promoting these financial options to market their products. Some of the attractive options offered by manufacturers include complementary attachments, accessories, and customization options. Hence, such factors are expected to drive the excavator market growth in Japan during the forecast period.
High prices of excavators are one of the key challenges hindering the Japan excavator market growth. Excavators are made up of a number of parts, including hydraulic cylinders, diesel tanks, air ducts, protective covers, lamp holders, hydraulic oil reservoirs, and fenders. In order to manufacture these various parts, raw materials like stainless steel, hardened steel, cast iron, aluminum, brass, bronze, and other metal alloys are needed.
Moreover, the excavators' production costs fluctuate as a result of the varying prices of these raw materials and their availability. High assembling costs diminish the overall revenues for hardware producers in Japan, which will obstruct the development of the market in the center in the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Caterpillar Inc: The company offers excavators such as C, D, D Pro series and A, B, B Pro series.
Deere and Co: The company offers excavators such as mini, medium, large, and small.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including:
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The crawler excavator segment is estimated to witness significant growth during the forecast period. One of the most commonly used excavator segments in Japan is the crawler excavator. The main functionality of the crawler excavator segment is for digging and earthmoving tasks and is widely used in the construction industry in Japan.
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The crawler excavator segment was the largest segment and was valued at USD 2,268.74 million in 2017. Some key features of the crawlers excavation segment include tracks, versatility, stability and balance, and digging power. The tracks of crawler excavators enable them to move through different surfaces, including muddy, sandy, or uneven terrains. Similarly, crawler excavators are highly versatile as can be equipped with various attachments, such as buckets, hammers, augers, and grapples which enables them to perform a wide array of tasks such as digging trenches, excavating foundations, demolition, forestry work, and more. There is increasing adoption of crawler excavators across the construction industry due to their strong digging capabilities. Hence, such benefits are expected to drive the growth of this segment which in turn will drive the excavator market growth in Japan during the forecast period.
Based on application, the segment is classified into construction, mining, and utilities. Excavators are mainly heavy construction equipment designed for digging and earthmoving tasks which are widely used in the construction industry. Some of the various construction projects where excavators are utilized include building construction, road construction, landscaping, mining, and more. The different types of excavators used in construction activities are crawler excavators, wheeled excavators, and mini excavators which vary depending on their size and project requirements. Factors such as construction activities, infrastructure development, and economic conditions are influencing the growth of this segment. Hence, such applications of excavators are expected to drive the excavator market growth in Japan during the forecast period.
The excavator market in Japan report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Excavator Market Scope In Japan |
|
Report Coverage |
Details |
Page number |
133 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.75% |
Market growth 2023-2027 |
USD 963.34 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.67 |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Caterpillar Inc., Deere and Co., Doosan Corp., Guangxi LiuGong Machinery Co. Ltd., HD Hyundai Co. Ltd., Hitachi Construction Machinery Co. Ltd., J C Bamford Excavators Ltd., KATO WORKS CO. LTD., Kawasaki Heavy Industries Ltd., Kobe Steel Ltd., Komatsu Ltd., Kubota Corp., Liebherr International Deutschland GmbH, Marubeni Corp., Mitsubishi Heavy Industries Ltd., Sumitomo Heavy Industries Ltd., Sunward Intelligent Equipment Group, Takeuchi Mfg. Co. Ltd., AB Volvo, and Yanmar Holdings Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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