General Construction Products & Machinery

Excavators: Market Size, Growth & Forecast to 2030

The Excavators market is valued at about $79 billion (2026) and is projected to grow at a 4.6% CAGR through 2030. The largest cost driver is Steel and structural fabricated components (35% of spend). Asia Pacific leads demand at 42%.

Market size
$79.0 bn (2026)
CAGR to 2030
+4.6%
Buyer power
Favours buyers
Tracked suppliers
45

Projected market growth to 2030

Market size index, 2026 = 100, at the 4.6% CAGR.

1251171081001002026104.62027109.42028114.42029119.72030125.22031

Cost structure

Steel and structural fabricated components
35%
Powertrain and hydraulic systems
25%
Direct manufacturing labor
15%
Technology, software, and electronic upgrades
13%
Logistics and ocean freight outbound
12%

Regional demand split

Asia Pacific demand
42%
North America demand
26%
Europe demand
18%
Latin America demand
8%
Middle East & Africa demand
6%

Key suppliers

CaterpillarKomatsuVolvoXCMGSANYZoomlionJohn DeereHitachi
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Claight market analysis of proprietary and public data. Full report: /category-intelligence/excavators