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Europe Excavator and Loaders Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

  • ID: 5119716
  • Report
  • April 2022
  • Region: Europe
  • 90 Pages
  • Mordor Intelligence


  • Caterpillar Inc.
  • CNH Industrial NV
  • Deere & Company
  • Doosan Infracore Co. Ltd
  • Komatsu Ltd
  • Manitou BF, SA

The European excavator and loaders market was valued at USD 16.64 billion in 2021, and it is expected to reach USD 24.94 billion in 2027, while registering a CAGR of 6.98% during the forecast period (2022-2027).

With the outbreak of the COVID-19 pandemic, the demand in the market studied was impacted badly during the first half of 2020. Yet, with the gradual opening of the economies, the demand has been returning to the market studied, as economic activities have been speeding up. It is expected that the market studied may witness high demand 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 the traditional hydraulic and mechanical ones.

However, the demand for rental and used construction machinery is also a concerning factor for the market studied. This is because several customers for new equipment have also been considering the option to either rent or purchase used machinery as several options are available. The end customer and major OEMs have also stepped into the used and rental equipment market, looking at the rising demand.

Germany and the United Kingdom are anticipated to witness optimistic growth during the forecast period due to government initiatives and the rising adoption of environmentally sustainable products in the market.

Key Market Trends

Technological Advancements and Product Innovations to Drive the Market

Digitalization and technological advancements have become an indispensable part of the construction industry. Various market participants have already adopted many advancements, and others follow the trend. For instance,

  • In October 2020, Bobcat, a loaders company, announced developments in their compact loaders range for Europe and Middle East & Africa (EMEA), which offer more choice of features for the Bobcat compact track skid-steer and all-wheel steer loader ranges.

With the evolving demand by the government to move toward greener vehicles, excavators and loaders manufacturers are turning their conventional vehicles to electric and hybrid to adopt the changes. Most automakers are introducing new electric excavators and loaders models. For instance,

  • In April 2021, John Deere launched its SmartGrade Solution equipped with the 210G LC and 350G LC Excavators. This is used for Grade Control on the construction machinery and to monitor the equipment's health.

Companies have been focusing on developing new models of excavators and loaders with enhanced performance characteristics and eco-friendly features to gain momentum in the market studied. This is expected to attract customers during the forecast period.

Germany Anticipated to Hold Significant Market Share

Germany is expected to witness the fastest growth and is likely to hold a significant market share during the forecast period. The country is an early adopter of the latest technology, and the construction companies in the country are investing heavily in procuring the latest equipment to reduce carbon footprints. For instance,

  • In April 2021, it was reported that the federal government in the country was increasing its expenditure on rail and road infrastructure. This increased spending on transportation infrastructure provides EUR 270 billion (USD 324 billion) in funding to improve roads, rail, and waterways, over the next 10 to 15 years.

Factors influencing the growth in the market are increasing public infrastructure spending and extremely low-interest rates. Companies are launching new products and are entering collaborations to strengthen their positions in the market. For instance,

  • In April 2021, Manitou Group announced an investment of EUR 80 million for the expansion of production sites in Ancencis, Cande, and Lailie in France, in line with the company's plans to move toward electrification of its entire product portfolio.
  • In December 2020, Hitachi Construction Machinery - Europe announced the expansion of its distribution network in Italy to have a closer connection and to better serve the customers. This expansion is expected to offer better insights into the demand for future developments.

With the aforementioned trends and developments, the market is expected to have optimistic growth during the forecast period.

Competitive Landscape

The European excavator and loaders market is moderately consolidated due to the presence of global players holding significant shares in the market. These companies are focusing on product innovations and partnerships to gain a competitive edge in the market over other players. For instance,

  • In April 2021, Kobelco Construction Machinery Co. Ltd announced a new collaboration with Leica Geosystems of Switzerland to develop integrated 2D and 3D machine control solutions to develop remote operations for Kobelco's excavators.
  • In March 2021, Liebherr launched its R 96600 hydraulic mining excavator with new standards in open-pit mining. The machine comes equipped with assistance systems and semi-automated functions, indicating Liebherr's interest in autonomy.
  • In February 2021, Volvo Construction Equipment unveiled the EX03, the company's first electric prototype in the mid-size excavator range. The 14-ton EX03 is equipped with a battery pack from Volvo Trucks, lower noise levels, and reduced total cost of ownership compared to its conventional counterparts.

Some of the prominent companies in the market are Caterpillar Inc., Liebherr-International, Komatsu Ltd, and Volvo. Moreover, several players are launching a dedicated product for the European market to get more shares in the local market.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.
Note: Product cover images may vary from those shown


  • Caterpillar Inc.
  • CNH Industrial NV
  • Deere & Company
  • Doosan Infracore Co. Ltd
  • Komatsu Ltd
  • Manitou BF, SA

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Market Drivers
4.2 Market Challenges
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1 By Machinery Type
5.1.1 Excavator
5.1.2 Loader
5.2 By Drive Type
5.2.1 Hydraulic
5.2.2 Electric
5.2.3 Hybrid
5.3 By Country
5.3.1 Germany
5.3.2 United Kingdom
5.3.3 Italy
5.3.4 France
5.3.5 Rest of Europe
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Caterpillar Inc.
6.2.2 CNH Industrial NV
6.2.3 Kobelco Construction Machinery Co. Ltd
6.2.4 Deere & Company
6.2.5 Liebherr-International Deutschland GmbH
6.2.6 Hitachi Construction Machinery Co. Ltd
6.2.7 Komatsu Ltd
6.2.8 Manitou BF, SA
6.2.9 Doosan Infracore Co. Ltd
6.2.10 Yanmar Construction Equipment Co. Ltd
6.2.11 Volvo Construction Equipment
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Caterpillar Inc.
  • CNH Industrial NV
  • Kobelco Construction Machinery Co. Ltd
  • Deere & Company
  • Liebherr-International Deutschland GmbH
  • Hitachi Construction Machinery Co. Ltd
  • Komatsu Ltd
  • Manitou BF, SA
  • Doosan Infracore Co. Ltd
  • Yanmar Construction Equipment Co. Ltd
  • Volvo Construction Equipment
Note: Product cover images may vary from those shown