LOS ANGELES, Jan. 23, 2019 (GLOBE NEWSWIRE) -- QY Research has released a new report titled “Global Excavator Attachments Market Insights, Forecast to 2025.” In this report, the global excavator attachments market is foretold to collect revenue earnings worth an over US$ 5.80 Bn by the end of 2023.
There are several brands distributed across key markets such as China, the EU, Korea, Japan, and the U.S. As per the findings, the global excavator attachments market is highly competitive and maturely developed.
Global Excavator Attachments Market: Drivers and Restraints
High infrastructure investment in road construction, development of the construction industry, and need for infrastructure development, especially in emerging countries are prophesied to significantly augment the demand in the global market.
However, the declined rate of new construction in Western Europe and Russia is projected to slightly affect the market growth in a negative way.
Global Excavator Attachments Market: Forecast by Type and Application
On the basis of type, the global excavator attachments market is segmented into auger, harvester head, rake, thumb, grapple, hammer, bucket, and others.
By application, the global market is categorized into excavation, forestry, recycling, demolition, and others.
Global Excavator Attachments Market: Forecast by Region
The report studies important regions and countries, viz. Japan, China, Europe, the U.S., and other geographies for their market growth in terms of production. With a view to study the consumption of excavator attachments, the report covers key regions, viz. the MEA, Central and South America, Europe, Asia Pacific, and North America.
In the past five years, the demand for excavator attachments has shown a stable rise with less fluctuation in the EU, Japan, and the U.S.
Global Excavator Attachments Market: Regional Supply and Consumption
South Korea, China, the EU, Japan, and the U.S. are the major producers of excavator attachments. Southeast Asia, India, and Brazil can also supply excavator attachments through their manufacturing bases; however, they are dominated by companies from the EU, the U.S., and Japan.
Securing a robust share of the global market, China, the EU, Japan, and the U.S. are the major consumers of excavator attachments. Developing markets of the MEA, Russia, South America, Southeast Asia, and India are prognosticated to drive the demand for excavator attachments. These markets are anticipated to carry an impressive growth potential because of the strong need for infrastructure development.
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Global Excavator Attachments Market: Competitive Analysis
According to the report, more number of players are envisaged to expand through merger and acquisition in the coming years, which may cause small companies to eventually sift out. Both the market concentration and market competition are foreseen to touch higher levels in the near future.
Doosan, Komatsu, and Caterpillar are some of the top companies predicted to play a significant part in the global excavator attachments industry. Making their entry in the China market before 2011, these foreign brands have dominated the country. Some of them have already built manufacturing facilities in China.
Global Excavator Attachments Market: Key Players
The report includes a detailed study on leading manufacturers such as SEC, Kenco, Atlas Copco, Doosan, Geith, TRK, Amulet, Sandvik, Craig Manufacturing, Rockland, and Caterpillar.
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