Industry 4.0 to drive Earthmoving Equipment Market
Earthmoving equipment are a vital source for demolishing and quarrying activities. They are expected to witness a rising demand with growth of industry vertical. Persistence Market Research has walked through these traits with subsequent steps to be taken in its latest market study entitled “Earthmoving Equipment Market”.
How is the Earthmoving Equipment market categorized?
The global earthmoving equipment market, by type of product, spans crawler/wheeled excavators, mini excavators, backhoe loaders, crawler/wheeled/compact loaders, skid steer loaders, bulldozers/crawler tractors, wheeled tractors, and motor grades. Persistence Market Research has given a detailed analysis of these findings with future perspectives in its latest market study entitled “Earthmoving Equipment Market”.
The Asia-Pacific holds the largest market share due to growing demand for enhancement in infrastructure across countries like India and China. North America is also standing in a good stead due to technological advancements on the continuous basis. Europe is also expected to continue with the winning streak with Italy and Germany leading from the front. Persistence Market Research has, through its analysts and consultants, has tabled these facts with insights in its latest market study entitled “Earthmoving Equipment Market”.
Persistence Market Research has profiled the key players in the earthmoving equipment market as Caterpillar Inc., Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Terex Corporation, Volvo Construction Equipment, Liebherr Group, Deere & Company, Xuzhou Construction Machinery Group Co. Ltd., Sany Heavy Industry Co. Ltd., Doosan Corporation, and likewise.
Persistence Market Research has also etched the key developments in this regard. The EC530E and EC550E, in July 2021, were the two excavators Ab Volvo launched. As such, the company did enter 50-ton class regarding excavators. Liebherr Group, in May 2021, did introduce T 274, one of the class-leading 305 t/336 tons haul truck and expanded the product offering. It comes across as a proper 305-ton machine having short durations of cycle, low consumption of fuel, higher rates of output, and cheap cost per ton. Komatsu, in April 2021, put forth new-fangled Komatsu PC5500-11, which claims to increase durability and render utmost precision. In other words, it’s twin-engine PC5500-11 excavator that weighs 588-608 st (533-552 MT) based on configuration. The end-users comprise vehicles that weigh 150-240 ST. Doosan Infracore, in March 2021, came up with superlarge 100-ton excavator model. It is a premium model incorporating the latest technology.
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