The global Excavators Market size was USD 71,000 Million in 2022 and is expected to reach USD 119,953.01 Million in 2032, and register a rapid revenue CAGR of 6% during the forecast period. Increasing building and mining activities around the world and rising demand for excavation equipment are major factors driving market revenue growth. Excavators are widely employed in construction and mining industries for duties including excavating, material handling, demolition, and landscaping.

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Competitive Landscape:

The global excavators market is highly competitive, with numerous large and medium-sized players vying for market share. These companies are utilizing various strategies, such as mergers and acquisitions, strategic agreements and contracts, developing and introducing more efficient products, and expanding their geographical reach. Some of the major players in the global excavators market include:

• Caterpillar Inc.
• Deere & Company
• Hitachi Construction Machinery Co. Ltd.
• Komatsu Ltd.
• Volvo Construction Equipment
• Doosan Bobcat Inc.
• Liebherr Group
• Sany Group
• XCMG Group
• Hyundai Construction Equipment Co. Ltd.

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Excavators Market Segmentation:

By Product Type Outlook: 

• Crawler
• Mini/Compact
• Wheeled
• Other

By Application Outlook: 

• Construction
• Mining
• Agriculture
• Forestry
• Others

 Regional Outlook:

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Latin America (Brazil, Rest of LATAM)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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