Tag Archives: #excavator_market

Global Excavator Market is Set to Reach USD 64.7 Billion by 2024

According to Goldstein Research, global excavator market is expected to reach USD 64.7 billion by 2024 from USD 38.7 billion in 2016, growing at a CAGR of 6.7% over the forecast period 2016-2024. Huge investments by government bodies and private sector for infrastructure development and rapid urbanization are major factors for the growth of excavator market all across the globe. Excavator marketsegmentationhas been carried out on the basis of product type and power range. By power range, high power excavators modern technology are witnessing faster growth compared to low end excavators. In terms of power, 0-300 BHP excavators have grown at a CAGR of 9% while 300-500 BHP excavators have registered growth of 23% CAGR during past decade.