Global Hydraulic Excavator Market 2019-2023 | Increasing Popularity of Hybrid Technology to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 23, 2018--Technavio ’s global hydraulic excavator market research report forecasts the market to grow at a CAGR of over 2% during the forecast period.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181123005208/en/
Technavio has released a new market research report on the global hydraulic excavator market for the period 2019-2023. (Graphic: Business Wire)
The increasing popularity of hybrid technology will be one of the major trends in the during 2019-2023. Hybrid hydraulic excavators have a swing framework, which incorporates electric motors and it charges a capacitor by the power generated through swing deceleration. This power is used to assist the hydraulic motor in swing acceleration. The mother motor that is associated with the hydraulic pumps adjusts to the measure of electric energy in the capacitor. It helps in the generation of power and supports the engine, which helps in reducing the fuel utilized. Hybrid vehicles are being widely adopted as they provide improved productivity and are more efficient, resulting in increased cost savings.
According to Technavio’s analysts, one of the key drivers for the global hydraulic excavator market is the increasing requirement for large-scale project management:
Global hydraulic excavator market: Increasing requirement for large-scale project management
Organizations are concentrating on cultivating and managing the resources necessary for efficient product outputs. This increases the requirement for efficient solutions for large-scale project management. The major purpose of the hydraulic excavator is to automate processes to ensure maximum outputs by managing the resources and maintaining a regular follow-up.
According to a senior analyst at Technavio for research on construction, “Some of the major benefits of using hydraulic excavators in large-scale project management include a reduction in response time to ensure efficient process management, the increase in revenue possibilities by calculating conversion ratios, and increase in overall productivity by deploying machine-driven processes.”
Global hydraulic excavator market: Segmentation analysis
This global hydraulic excavator market analysis report provides market segmentation by end-user (contractors, rental providers, and others), by application (construction, mining, and utilities), by technology (crawler excavators, mini excavators, and wheeled excavators), and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major applications, the construction industry held the largest hydraulic excavator market share in 2018, contributing to nearly 53% of the market. This application segment will dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2018, accounting for more than 49% share. It was followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20181123005208/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY OTHER CONSTRUCTION & PROPERTY
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 11/23/2018 11:47 AM/DISC: 11/23/2018 11:47 AM