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The dragline excavator market is projected to grow by USD 722.22 million with a CAGR of 3.14% during the forecast period 2021 to 2026.
This dragline excavator market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the dragline excavator market segmentation by type (diesel-mechanical and diesel-electric hybrid) and geography (APAC, North America, Europe, the Middle East and Africa, and South America). The dragline excavator market report also offers information on several market vendors, including AB Volvo, Action Construction Equipment Ltd., American Mine Services, BAUER AG, BEML Ltd., Broadwind Energy Inc, Caterpillar Inc., Deere & Co., Doosan Bobcat Inc., Heavy Engineering Corp. Ltd., Hitachi Construction Machinery Co. Ltd., Hyundai Construction Equipment Co. Ltd., Kobe Steel Ltd., Komatsu Ltd., Liebherr International Deutschland GmbH, SENNEBOGEN Maschinenfabrik GmbH, Siemens AG, Sumitomo Heavy Industries, Ltd., The Manitowoc Co. Inc., and Xuzhou Construction Machinery Group Co. Ltd. among others.
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The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the dragline excavator market.
Key Dragline Excavator Market Driver
The growth of the global construction industry is one of the key factors driving the dragline excavator market growth. Governments of various countries, such as India, Saudi Arabia, and Qatar, are investing heavily in developing smart cities. Smart cities provide better transportation facilities, smart grids, improved healthcare facilities, advanced technologies, and enhanced traffic management systems. In addition, owing to the upcoming 2022 International Federation of Football Associations (FIFA) World Cup in Qatar, the Government of Qatar is likely to spend billions of dollars on infrastructure, which is expected to drive the market in focus in the region. Moreover, the city of Lusail will have modem transport facilities such as a light-rail system and water taxi facilities. Thus, the development of infrastructure and smart cities worldwide will necessitate the use of dragline excavators to speed up construction activities during the forecast period.
Key Dragline Excavator Market Trend
High demand for remote monitoring systems in excavators is one of the key dragline excavator market trends propelling the market growth. The remote monitoring system helps excavator owners, such as construction companies and contractors, to monitor the location of their machines via GPS, as well as machine history and others. The leading manufacturers of construction machinery in Japan, such as Hitachi Construction Machinery, Komatsu, and Kobelco Construction Machinery, provide remote monitoring systems in their excavators. For instance, Hitachi Construction Machinery provides excavator users with its Global e-Service, a remote monitoring system for its range of large excavators. Moreover, the company also provides its in-house developed ZXLink remote monitoring systems for all types of excavators, fueling further the growth of the market during the forecast period.
Key Dragline Excavator Market Challenge
Raw material price volatility is one of the factors limiting the dragline excavator market growth. Raw material costs account for a major share of the total capital expenditure incurred by manufacturers. Thus, any unanticipated fluctuations in raw material prices can affect their overall profit margins. Purchasing raw materials in bulk escalates inventory and production costs. Furthermore, manufacturers may have to pay a significantly high cost to purchase raw materials in advance, compared with the cost prevalent at the time of actual production. Therefore, raw material price volatility stands as a major challenge for dragline excavator manufacturers during the forecast period.
This dragline excavator market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The global dragline excavator market is a key segment of the global construction machinery and heavy trucks market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the dragline excavator market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the dragline excavator market encompasses successful business strategies deployed by the key vendors. The dragline excavator market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.
Our In-house experts produce extensive information on the value chain and parent market of the dragline excavator market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
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57% of the market’s growth will originate from APAC during the forecast period. China, Australia, and India are the key markets for the dragline excavator market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rise in private-public partnerships (PPPs) to support infrastructure development will facilitate the dragline excavator market's growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In 2020, the market was negatively impacted in APAC, owing to the spread of COVID-19. However, in 2021, the successful vaccination drives conducted across the region and the rise in investment inflows into the construction sector helped in the resumption of construction operations. Thus, the regional market is expected to grow during the forecast period.
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The dragline excavator market share growth in the diesel-mechanical segment will be significant during the forecast period. By reducing operating time through the application of conversion ratios and running time estimations, diesel-mechanical dragline excavators also help in the simplification of the construction process by making the most efficient use of fuel, thus enhancing the overall productivity of the construction process further. This, in turn, fuels the growth of the market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the dragline excavator market size and actionable market insights on the post-COVID-19 impact on each segment.
Dragline Excavator Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.14% |
Market growth 2022-2026 |
$722.22 million |
Market structure |
Fragmented |
YoY growth (%) |
2.68 |
Regional analysis |
APAC, North America, Europe, the Middle East and Africa, and South America |
Performing market contribution |
APAC at 57% |
Key consumer countries |
US, China, Australia, India, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
AB Volvo, Action Construction Equipment Ltd., American Mine Services, BAUER AG, BEML Ltd., Broadwind Energy Inc, Caterpillar Inc., Deere & Co., Doosan Bobcat Inc., Heavy Engineering Corp. Ltd., Hitachi Construction Machinery Co. Ltd., Hyundai Construction Equipment Co. Ltd., Kobe Steel Ltd., Komatsu Ltd., Liebherr International Deutschland GmbH, SENNEBOGEN Maschinenfabrik GmbH, Siemens AG, Sumitomo Heavy Industries, Ltd., The Manitowoc Co. Inc., and Xuzhou Construction Machinery Group 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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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