July 12,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Global Excavator Attachments Market.
The Global Excavator Attachments Market is expected to grow from USD 4.8 billion in 2020 to USD 6.1 billion by 2026 at a CAGR of over 4.1% during the forecast period.
The growth of the global excavator attachments market is primarily driven by expanding construction industry with rising in both residential and non-residential construction activities.
- In the construction industry excavators are primarily used for digging holes, trenches, and foundations.
- Increased spending on the renovation of buildings to make energy-efficient and modern buildings is likely to fuel the product demand significantly.
- The growing mining industry with high demand for precious metals is propelling the market growth substantially.
- High demand for more technologically advanced products is likely to create lucrative opportunities for the players operating in the global excavator attachment market.
Based on type, the market has been segmented into buckets, grapples, rakes, hammers, augers, and others.
- The buckets segment accounted for more than a 25% share of the global excavator attachments market in 2020.
- Buckets are used for various applications such as digging, grading and ditch cleaning among others.
- Hammers segment is expected to register healthy CAGR during the review period.
Geographically, the market in Asia-Pacific accounted for the largest market share in 2020 and is expected to continue its dominance during the review period.
- The market growth can be attributed to expanding industrialization and growing urbanization in countries such as China and India. Increased spending by the government construction activities for infrastructural development in the emerging economies is likely to propel the market growth further.
- The market in Europe and Asia-Pacific region is expected to register considerable CAGR during the review period.
Key Players:
- Caterpillar Inc. (The US),
- Craig Manufacturing Ltd. (Canada),
- Sandvik AB (Sweden),
- Epiroc Mining India Limited (India),
- Rockland Acquisition Company, LLC (The US),
- Geith International Ltd. (Ireland),
- Doosan Infracore (South Korea),
- Atlas-copco (Sweden),
- Kenco Group (The US),
- Manitou (France),
- ACS Industries (The US),
- AMI Attachments (Canada),
- EVERDIGM (South Korea), and
- Komatsu Ltd. (Japan).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Global Excavator Attachments Market analysis report discusses the following heads in great detail:
· Market structure: Overview, industry life cycle analysis, supply chain analysis
· COVID-19 Impact Assessment
· Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
· Market trend and forecast analysis
· Market segment trend and forecast
· Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
· Attractive market segments and associated growth opportunities
· Emerging trends
· Strategic growth opportunities for the existing and new players
· Key success factors
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