Wheel Excavator Market Synopsis

Wheel Excavator Market Size Was Valued at USD 12.66 Billion in 2023 and is Projected to Reach USD 21.32 Billion by 2032, Growing at a CAGR of 5.99% From 2024-2032.

A wheel excavator is a kind of construction equipment used for digging, leap and transfer large quantities of soil or other substances in construction projects. Wheel excavators are not like the classical excavators having a track device; instead, they have wheel devices that will enable them to be much more mobile and faster most especially on areas that have paved or hard surfaces. This makes them particularly ideal for applications in the construction of buildings in urban areas, and jobs which involve mobility from one location to another frequently. These cranes come with a turntable, or a ‘house,’ which enables the crane arm and bucket to move in a full circle, thus are versatile. Wheel excavators are extremely versatile and can be equipped with tools including hydraulic breakers, grabs, and auger, making the primary tool ideal for a vast number of applications other than just excavating.

• The wheel excavator market has shown significant growth trends in the past few years attributed to the higher scale utilization in urban development and construction across the world. Therefore, when cities grow, more construction projects are provided, people handling the projects require multifunctional and portable equipments such as wheel excavators. Compared to traditional machines, these machines can turn quickly and are often more suitable for use in urban environment where working space is constrained and timings are tight.
• Furthermore, the wheel excavators have been improved in terms of their efficiency, durability and their impact on the natural environment through technological enhancement, and therefore have enhance demand all construction industries. Emerging markets in the areas of structure and construction consist of North America, Europe, and Asia-Pacific with the most investments being allocated to the public sector and in the construction of commercial properties.
• Competition is intense in the machinery market with companiessuch as Caterpillar, Komatsu, Hitachi Construction Machinery, and Volvo Construction Equipment striving to manufacture better machines with improved features for the operator. Other factors that have also boosted the market include factors such as incorporation of technologies such as telematics, automated controls, and engines that are a combination of two and more types.
• Furthermore, in the last decade the demand for environmental friendly and sustainable constructions has promoted the use of machines with low emissions and one that consume minimal fuel. Due to the global increased emphasis on sustainable policies, governments of different countries have set higher emission and fuel consumption control standards that may influence the wheel excavator market’s further development/improvement, with an emphasis on environmental concerns and technology.

Wheel Excavator Market Trend Analysis

Increasing adoption of automation and telematics technology

• Excavator manufacturers are featuring fully programmable microprocessor systems to monitor and remotely operate the operations of excavators thus boosting on efficiency, safety, and productivity. These technologies also allow operators to obtain real-time information about equipment productivity, fuel use and even maintenance requirements which aids in minimizing on time that machinery spends in the workshop for servicing. Other new functionality talking about operation modes and including semi and full automation remain to be introduced into operation, do help in executing repetitive tasks with higher accuracy and lower involvement of operators. This trend stem from attempts to increase construction efficiency and deliver innovative solutions and cost savings deriving from digitalization of industry and constant labor shortage in many areas.

Expansion into renewable energy infrastructure projects

• As global measures to mitigate climate change are upped, so is the focus on utilization of… wind, solar and hydroelectric power among others. These kind of projects entail a need to move massive amounts of earth and undertakings; therefore, wheel excavators are in high demand. Moreover, flexibility in working on all types of terrain and extensibility in using interchangeable attachments make the wheel excavators suitable for tasks like digging trenches for cable, preparing ground for wind power projects among others like digging of foundations for solar farms. Taking advantage of this opportunity, manufacturers of recycling machinery and equipment can introduce customized attachments and models for the numerous renewable energy projects, thus gaining a strategic position as valuable stakeholders in the emerging green energy sector.

Wheel Excavator Market Segment Analysis:

Wheel Excavator Market Segmented on the basis of Product, Propulsion and application.

By Product, Mini/Compact segment is expected to dominate the market during the forecast period

• The wheel excavator market is expected to be dominated by the mini/compact category for use throughout the forecast period due to the advantages the implement boast of that is easy maneuverability and suitability across various tasks. The machines are smaller and easier to maneuver than their larger counterparts, so they are ideal for use in environments constructed by small-scale building construction companies where standard construction equipment may not fit. Due to this fact, they are flexible in their usage can handle confined tasks like streets, houses, and construction sites among others.
• In addition, mini/compact wheel excavators are preferred due to its low cost of operations such as fuel and oil consumption and other general maintenance costs. Continuing urban development, potential need for construction and repair of infrastructure in highly-populated areas, and the strong focus on the improvement and maintenance of unlimited access to infrastructure is also expected to continue to drive demand for mini/compact wheel excavators and, thus, maintain its leadership in the market.

By Application, Construction segment expected to held the largest share

• The construction segment is expected to dominate the wheel excavator market and growing at a steady inclined rate due to a rising infrastructure development and vast urbanization across the world. This makes wheel excavators particularly appropriate for construction work because they are versatile, mobile and can quickly switch from one task to another especially where space is restricted, they can be used for digging, grading, clearing and material handling. The nature of their task demands frequent switching between different locations which makes them especially useful in metropolitan areas where typical otrack machines cannot really be used.
• The increase in the construction industry especially private and civil construction, strengthens the utilization of wheel excavators, especially in Asia-Pacific and Latin America where growth rates are higher than other world regions. Also, the investment in public projects such as roads, bridges, and other utility infrastructures is another important area also supports the utility of wheel excavators in construction of which makes sure that this segment is the most influential market for the industry.

Wheel Excavator Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

• During the wheel excavator market forecast timeframe, the Asia Pacific will emerge as the prominent region for market growth due to factors such as the surge in urbanization rate, infrastructural advancements, and increased construction spending across the region. The leading markets here are China, India, and Japan, and although it may not be as diverse as mining, there is a continual demand for construction equipment with increased large-scale projects including smart cities, transport systems, and renewable energy.
• Furthermore, measures by the government to revamp and advance country’s infrastructural and economic statuses have seen a rise in expenditure towards the public construction and real estate business. Other factors that fuel the growth of the market are the increasing preference for innovative construction technology such as Building Information Modeling (BIM), construction machinery, systems integration, increased focus on sustainability and environmental legislations. Therefore, the leading industry players are striving to strengthen their market footprint and offerings within the Asia-Pacific region to address the emerging opportunities and the multifaceted requirements of the continuously ascending construction sector.

Active Key Players in the Wheel Excavator Market

• Caterpillar Inc. (USA)
• Komatsu Ltd. (Japan)
• Hitachi Construction Machinery Co., Ltd. (Japan)
• Volvo Construction Equipment (Sweden)
• Doosan Infracore (South Korea)
• Hyundai Construction Equipment Co., Ltd. (South Korea)
• JCB Ltd. (United Kingdom)
• Liebherr Group (Switzerland)
• SANY Group (China)
• XCMG Group (China)
• Kobelco Construction Machinery Co., Ltd. (Japan)
• CASE Construction Equipment (USA)
• Sumitomo Construction Machinery Co., Ltd. (Japan)
• Terex Corporation (USA)
• Other key Players

Key Industry Developments in the Wheel Excavator Market:

• In September 2022, Hyundai Construction Equipment has introduced the HW150A CR, a compact radius. The HW150A CR, which is the forerunner of the A-Series wheeled excavators, is designed to meet the growing demand for a utility and service-oriented wheeled machine in the 15-17 ton range.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Wheel Excavator Market by Product
 4.1 Wheel Excavator Market Snapshot and Growth Engine
 4.2 Wheel Excavator Market Overview
 4.3 Mini/Compact
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Mini/Compact: Geographic Segmentation Analysis
 4.4 Medium
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Medium: Geographic Segmentation Analysis
 4.5 Large
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Large: Geographic Segmentation Analysis

Chapter 5: Wheel Excavator Market by Propulsion
 5.1 Wheel Excavator Market Snapshot and Growth Engine
 5.2 Wheel Excavator Market Overview
 5.3 ICE
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 ICE: Geographic Segmentation Analysis
 5.4 Electric
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Electric: Geographic Segmentation Analysis

Chapter 6: Wheel Excavator Market by Application
 6.1 Wheel Excavator Market Snapshot and Growth Engine
 6.2 Wheel Excavator Market Overview
 6.3 Construction
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Construction: Geographic Segmentation Analysis
 6.4 Forestry & agriculture
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Forestry & agriculture: Geographic Segmentation Analysis
 6.5 Mining
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Mining: Geographic Segmentation Analysis
 6.6 Rental
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Rental: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Wheel Excavator Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 CATERPILLAR INC. (USA)
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 KOMATSU LTD. (JAPAN)
 7.4 HITACHI CONSTRUCTION MACHINERY CO.
 7.5 LTD. (JAPAN)
 7.6 VOLVO CONSTRUCTION EQUIPMENT (SWEDEN)
 7.7 DOOSAN INFRACORE (SOUTH KOREA)
 7.8 HYUNDAI CONSTRUCTION EQUIPMENT CO.
 7.9 LTD. (SOUTH KOREA)
 7.10 JCB LTD. (UNITED KINGDOM)
 7.11 LIEBHERR GROUP (SWITZERLAND)
 7.12 SANY GROUP (CHINA)
 7.13 XCMG GROUP (CHINA)
 7.14 KOBELCO CONSTRUCTION MACHINERY CO.
 7.15 LTD. (JAPAN)
 7.16 CASE CONSTRUCTION EQUIPMENT (USA)
 7.17 SUMITOMO CONSTRUCTION MACHINERY CO.
 7.18 LTD. (JAPAN)
 7.19 TEREX CORPORATION (USA)
 7.20 OTHER KEY PLAYERS

Chapter 8: Global Wheel Excavator Market By Region
 8.1 Overview
 8.2. North America Wheel Excavator Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Product
   8.2.4.1 Mini/Compact
   8.2.4.2 Medium
   8.2.4.3 Large
  8.2.5 Historic and Forecasted Market Size By Propulsion
   8.2.5.1 ICE
   8.2.5.2 Electric
  8.2.6 Historic and Forecasted Market Size By Application
   8.2.6.1 Construction
   8.2.6.2 Forestry & agriculture
   8.2.6.3 Mining
   8.2.6.4 Rental
  8.2.7 Historic and Forecast Market Size by Country
   8.2.7.1 US
   8.2.7.2 Canada
   8.2.7.3 Mexico
 8.3. Eastern Europe Wheel Excavator Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Product
   8.3.4.1 Mini/Compact
   8.3.4.2 Medium
   8.3.4.3 Large
  8.3.5 Historic and Forecasted Market Size By Propulsion
   8.3.5.1 ICE
   8.3.5.2 Electric
  8.3.6 Historic and Forecasted Market Size By Application
   8.3.6.1 Construction
   8.3.6.2 Forestry & agriculture
   8.3.6.3 Mining
   8.3.6.4 Rental
  8.3.7 Historic and Forecast Market Size by Country
   8.3.7.1 Bulgaria
   8.3.7.2 The Czech Republic
   8.3.7.3 Hungary
   8.3.7.4 Poland
   8.3.7.5 Romania
   8.3.7.6 Rest of Eastern Europe
 8.4. Western Europe Wheel Excavator Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Product
   8.4.4.1 Mini/Compact
   8.4.4.2 Medium
   8.4.4.3 Large
  8.4.5 Historic and Forecasted Market Size By Propulsion
   8.4.5.1 ICE
   8.4.5.2 Electric
  8.4.6 Historic and Forecasted Market Size By Application
   8.4.6.1 Construction
   8.4.6.2 Forestry & agriculture
   8.4.6.3 Mining
   8.4.6.4 Rental
  8.4.7 Historic and Forecast Market Size by Country
   8.4.7.1 Germany
   8.4.7.2 UK
   8.4.7.3 France
   8.4.7.4 Netherlands
   8.4.7.5 Italy
   8.4.7.6 Russia
   8.4.7.7 Spain
   8.4.7.8 Rest of Western Europe
 8.5. Asia Pacific Wheel Excavator Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Product
   8.5.4.1 Mini/Compact
   8.5.4.2 Medium
   8.5.4.3 Large
  8.5.5 Historic and Forecasted Market Size By Propulsion
   8.5.5.1 ICE
   8.5.5.2 Electric
  8.5.6 Historic and Forecasted Market Size By Application
   8.5.6.1 Construction
   8.5.6.2 Forestry & agriculture
   8.5.6.3 Mining
   8.5.6.4 Rental
  8.5.7 Historic and Forecast Market Size by Country
   8.5.7.1 China
   8.5.7.2 India
   8.5.7.3 Japan
   8.5.7.4 South Korea
   8.5.7.5 Malaysia
   8.5.7.6 Thailand
   8.5.7.7 Vietnam
   8.5.7.8 The Philippines
   8.5.7.9 Australia
   8.5.7.10 New Zealand
   8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Wheel Excavator Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Product
   8.6.4.1 Mini/Compact
   8.6.4.2 Medium
   8.6.4.3 Large
  8.6.5 Historic and Forecasted Market Size By Propulsion
   8.6.5.1 ICE
   8.6.5.2 Electric
  8.6.6 Historic and Forecasted Market Size By Application
   8.6.6.1 Construction
   8.6.6.2 Forestry & agriculture
   8.6.6.3 Mining
   8.6.6.4 Rental
  8.6.7 Historic and Forecast Market Size by Country
   8.6.7.1 Turkey
   8.6.7.2 Bahrain
   8.6.7.3 Kuwait
   8.6.7.4 Saudi Arabia
   8.6.7.5 Qatar
   8.6.7.6 UAE
   8.6.7.7 Israel
   8.6.7.8 South Africa
 8.7. South America Wheel Excavator Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Product
   8.7.4.1 Mini/Compact
   8.7.4.2 Medium
   8.7.4.3 Large
  8.7.5 Historic and Forecasted Market Size By Propulsion
   8.7.5.1 ICE
   8.7.5.2 Electric
  8.7.6 Historic and Forecasted Market Size By Application
   8.7.6.1 Construction
   8.7.6.2 Forestry & agriculture
   8.7.6.3 Mining
   8.7.6.4 Rental
  8.7.7 Historic and Forecast Market Size by Country
   8.7.7.1 Brazil
   8.7.7.2 Argentina
   8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research