The global earthmoving market size is expected to grow from $84.89 billion in 2021 to $94.48 billion in 2022 at a compound annual growth rate (CAGR) of 11.3%. The global earthmoving machinery market size is expected to grow to $115.91 billion in 2026 at a CAGR of 5.2%.
What is the Global Earthmoving Market?
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.
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What drives the Global Earthmoving Market?
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 to 4.4 billion in 2020. Furthermore, according to United Nations, Department of Economic and Social Affairs 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.
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Global Earthmoving Market Segments
The global earthmoving market is segmented:
By Equipment: Excavators, Loaders, Dump Trucks, Others
By Application: Construction, Underground, Mining, Surface Mining
By End-User: Construction, Mining, Agriculture and Forestry, Others
By Geography: The regions covered in the earthmoving market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Earthmoving Global Market Report 2022provides market size and growth forecasts for the global earthmoving market, global earthmoving market share, earthmoving global market segments and geographies, earthmoving market competitive landscape including leading competitors’ revenues, profiles and market shares. The earthmoving market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Earthmoving Industry Playersinclude 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, Komatsu, and Bobcat Company. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
