Dublin, June 08, 2021 (GLOBE NEWSWIRE) -- The "Earthmoving Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global earthmoving market as it emerges from the COVID-19 shut down.
The global earthmoving market is expected to grow from $82.75 billion in 2020 to $92.82 billion in 2021 at a compound annual growth rate (CAGR) of 12.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $136.07 billion in 2025 at a CAGR of 10%.
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Where is the largest and fastest growing market for the earthmoving ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Earthmovin market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider earthmoving market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The earthmoving market section of the report gives context. It compares the earthmoving market with other segments of the earthmoving market by size and growth, historic and forecast.
Major players in the earthmoving market are Hyundai Heavy Industries Co. Ltd, J.C. Bamford Excavators Limited, AB Volvo, Doosan Infracore Co. Ltd, SANY America, Liebherr Group, Hitachi Construction Machinery Co. Ltd, Caterpillar Inc, and Komatsu.
The earthmoving market consists of sales of earthmoving machinery by entities (organizations, sole traders, or partnerships) that are engaged in manufacturing earthmoving machinery. Only goods and services traded between entities or sold to end consumers are included.
Major players operating in the market are concentrating on introducing new technological innovations which are gaining popularity over recent years. Companies manufacturing earth moving equipment are focusing on incorporating 5G cellular technology to advance remote operation towards real-time control. The ultra-low latency of 5G enables systems controlling a vehicle to react sooner, such as during braking or turning, vastly improving safety on the Jobsite. The 5G network also promises to advance artificial intelligence, virtual reality as well as IoT technologies for better remote control and connectivity. For instance, in 2018, Volvo CE joined Telia's 5G partner program to test 5G equipped earth moving machines. In 2018, Doosan Infracore, in partnership with LG U+, introduced 5G-based remote control technology called concept- X to boost productivity and economic feasibility. Moreover, in March 2020, Zoomlion Heavy Industry Science and Technology Co., a Chinese producer of engineering and agricultural equipment launched two G-series hydraulic excavator flagship products the ZE75G and ZE215GLC with 5G technology incorporated.
The earthmoving market covered in this report is segmented by equipment into excavators; loaders; dump trucks; others and by end-user into construction; mining; agriculture & forestry; others.
In March 2020, K-Tec Earthmovers Inc. (K-Tec), a Canadian company that manufactures efficient earthmoving scrapers for construction and mining sites merged with Ashland Industries (Ashland), a manufacturer of earthmoving equipment. The merged company will have manufacturing and service locations in Rosenort, Manitoba, Canada, and Ashland, Wisconsin, United States. The merger allows both companies to offer an extensive product line of earthmoving scrapers in the industry. The combination also expects to provide shorter lead times for customers and accelerated product design and launch. Ashland Industries (Ashland) is a US-based manufacturer of earthmoving equipment for the agricultural, industrial, and construction sectors.
The rising urban population generating higher demand for better infrastructure is expected to propel the earthmoving market over the coming years. The increase in the urban population contributes to the demand for improved and advanced infrastructure. According to The International Institute for Environment and Development, the world's urban population has increased from 4.2 billion in 2018 to 4.4 billion in 2020. Furthermore, according to United Nations, Department of Economic and Social Affairs, about 55% of the population lives in urban areas in 2018 and the proportion is expected to reach 68% by the end of 2050. This four-fold growth creates a need for more infrastructure, increased urban developments, and more building activities to accommodate people. Thus, propelling the demand for construction equipment including earthmoving, as these machines are used for land clearing, lifting, and other heavy work.
High capital and maintenance costs associated with earthmoving equipment is expected to hinder the market. Earthmoving equipment is a heavy machine that a company has to invest extensively to purchase it. For instance, the cost of CAT bulldozers ranges from $250,000 to $2.2 million. The following major expense that the company faces is maintenance, which is the result of the downtime of the equipment on the company. The financial burden increases on the company due to high equipment and maintenance costs. Thus, the high cost of equipment is expected to further limit the growth of the earthmoving market during the forecast period.
Key Topics Covered:
1. Executive Summary
2. Earthmoving Market Characteristics
3. Earthmoving Market Trends and Strategies
4. Impact of COVID-19 on Earthmoving
5. Earthmoving Market Size and Growth
5.1. Global Earthmoving Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global Earthmoving Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Earthmoving Market Segmentation
7. Earthmoving Market Regional and Country Analysis
7.1. Global Earthmoving Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Earthmoving Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8. Asia-Pacific Earthmoving Market
9. China Earthmoving Market
10. India Earthmoving Market
11. Japan Earthmoving Market
12. Australia Earthmoving Market
13. Indonesia Earthmoving Market
14. South Korea Earthmoving Market
15. Western Europe Earthmoving Market
16. UK Earthmoving Market
17. Germany Earthmoving Market
18. France Earthmoving Market
19. Eastern Europe Earthmoving Market
20. Russia Earthmoving Market
21. North America Earthmoving Market
22. USA Earthmoving Market
23. South America Earthmoving Market
24. Brazil Earthmoving Market
25. Middle East Earthmoving Market
26. Africa Earthmoving Market
27. Earthmoving Market Competitive Landscape and Company Profiles
27.1. Earthmoving Market Competitive Landscape
27.2. Earthmoving Market Company Profiles
27.2.1. Hyundai Heavy Industries Co. Ltd
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. J.C. Bamford Excavators Limited
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. AB Volvo
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Doosan Infracore Co. Ltd
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. SANY America
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
29. Key Mergers and Acquisitions in the Earthmoving Market
29. Earthmoving Market Future Outlook and Potential Analysis
30. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/tajwdh