Market Size of Europe Excavator And Loaders Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 20.38 Billion |
| Market Size (2029) | USD 28.55 Billion |
| CAGR (2024 - 2029) | 6.98 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Excavator and Loaders Market Analysis
The Europe Excavator And Loaders Market size is estimated at USD 20.38 billion in 2024, and is expected to reach USD 28.55 billion by 2029, growing at a CAGR of 6.98% during the forecast period (2024-2029).
The increase in construction activity is expected to drive demand for excavators and loaders. Government programs such as stimulus packages and lower housing costs that encouraged people to buy new homes are expected to drive market expansion during the forecast period.
With the increased spending from several government authorities in the region on construction and mining activities, the demand for cost-effective machines, along with regulatory pressures for lower emissions, has been pressurizing construction equipment manufacturers to opt for electric and hybrid vehicles over traditional hydraulic and mechanical ones.
Infrastructural growth and development in construction across European countries are likely to enhance the sale of construction equipment during the forecast period. For instance,
Under the Federal Transport Infrastructure Plan (FTIP) 2030, the federal government announced an investment of USD 147.6 billion for the development of road infrastructure in Germany by 2030.
The rise in demand for advanced construction machinery due to an increase in labor cost is also likely to drive the demand for excavators and loaders during the forecast period, which is likely to remain a prominent driver for the market.
As the number of commercial and residential buildings in Europe increases, so does the need for routine maintenance to keep them safe places to live and work. As a result, building owners and contractors spend significant amounts of money on building maintenance as well as remodeling old and underutilized rooms to profit from them. As a result, demand for excavators and loaders is increasing, contributing to overall market growth.
Major players in the market are Caterpillar Inc., CNH Industrial NV, Liebherr Group, Komatsu Ltd, and Many others. Considering the growth in demand, major players are working on strategic partnerships and product launches to stay ahead of the competition.
For instance, In September 2023, Sunward Europe unveiled a new 15-tonne wheeled excavator at the upcoming MATEXPO exhibition (September 6-10) near their European headquarters.
Thus, the factors above are projected to induce significant growth in the European excavator and wheel loader market.
