How Big Is the Excavator Market | Innovation, Trials, and Future Size 2025

Q: What is the projected valuation of the excavator market?

The excavator market is expected to reach over USD 73.6 billion by 2031, with continued investment in construction.

Q: Who are the key players in the global excavator market?

Major players include Caterpillar, Komatsu, Volvo CE, Hitachi Construction Machinery, and Doosan, leading through innovation and global presence.

Q: Which trends are shaping the future of the excavator market?

Automation, electric and hybrid models, compact equipment demand, and integration of telematics are transforming the market landscape.

Q: How is the equipment rental trend contributing to excavator market expansion?

The rise of equipment rental services is enabling broader market access by reducing capital costs for contractors and construction firms.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA6700

Publication Date: Jul 2025

How Big Is the Excavator Market?

According to 6Wresearch internal database and industry insights, the Global excavator market was valued at USD 53.4 billion in 2024 and is anticipated to exceed USD 73.6 billion by 2031, expanding at a CAGR of 9.34%.

This market growth is driven by infrastructure modernization, road and housing projects, and the mechanization of construction activities across economies.

Growth Factors of the Excavator Market

Increase in road construction and infrastructure development.
Usage of machines instead of manual labor with construction tools.
Increase in demand from mining and quarrying businesses.
Awareness of the smart cities and metro development.
Residential and industrial construction boom.
Easier access with rental equipment services.

Excavator Market Trends

The excavator market is introducing electric and hybrid versions for governments and corporate company standards on sustainability and emissions. Demand for compact and mini excavators is increasing in the urban construction market due to their ability to maneuver and operate in tight areas.

Emerging Developments in the Excavator Market

In the Excavator Market, companies are putting telematics, GPS tracking, and AI assisted diagnostics into their machinery to have a nearly real-time assessment of performance. Companies are testing autonomous and remotely operated excavators on high-risk or hazardous job sites for better safety and efficiency.