Excavators and loaders are versatile machines used in road and infrastructure projects, residential and commercial building construction, and mining operations. The excavators and loaders industry has grown significantly in recent years, with a global market size of $55.68 billion in 2023. Frost & Sullivan projects a 5.2% compound annual growth rate (CAGR) to reach $79.48 billion in 2030. Factors driving the industry include infrastructure development, rapid urbanization, construction project demand, application versatility, and sustainability practices. Equipment as a service, online marketplaces, and business model transformation in service, maintenance, rebuild, and financing provide a springboard for increased profitability and customer acquisition.
