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Japan Crawler Excavator Market - Outlook and Forecast 2021-2027
- Market Report
- ID: JMC199JA
- Delivery Time: 1 Business Day
- Tag: Crawler Excavator
Market Overview
The geographic position of Japan provides foreign investors with increased access to other Asian markets, thereby facilitating the growth of vendors in the Japanese crawler excavator market.
In Japan, the demand for mini excavators is largely driven by the construction industry.
| Product Type | Market Report |
|---|---|
| No. of Pages | 70 |
| Release Date | July 2021 |
| Base Year | 2020 |
| Forecast Period | 2021-2027 |
| Market Size | 59.2 thousand units in 2019 |
| Market Segments | Type, Gross Power, and Application |
| Region | Japan |
| No. of Companies Mentioned | 16 |
The Japanese economy is expected to experience steady growth during the forecast period, which will subsequently boost the domestic demand for commodities and equipment, thereby driving the crawler excavator market in Japan.
The development of hydraulic and engine control systems, automation, electric, autonomous, and remote-control technologies is fueling the growth of the crawler excavator market.
Furthermore, the focus on eco-friendly technology has positioned businesses as leaders in the Japan excavator market, meeting increasingly stringent international environmental standards such as the IMO’s air pollution and sulfur dioxide emission regulations.
According to Cushman & Wakefield, the construction of multifamily buildings is projected to grow by approximately 35% in 2021, significantly boosting the sale of excavators in the country.
Excavators used in construction projects account for the largest share, approximately 54.6%, of the extensive government expenditure in the sector.
Japan has made remarkable progress in efficiently translating innovative inputs into outputs over the past three years, which has had a positive impact on stimulating the growth of the Japanese crawler excavator market.
The Japanese construction machines and equipment industry is highly developed and encompasses a comprehensive ecosystem to meet the demands of both domestic and export markets.
Market Segmentation
The market is segmented based on various factors, including type, gross power, and application.
Segmentation by Type
Mini (less than 6 tons)
Small (6-15 tons)
Medium (15-30 tons)
Large (above 30 tons)
Segmentation by Gross Power
Less than 60 HP
61-101 HP
102-200 HP
Greater than 201 HP
Segmentation by Application
Construction
Mining
Agriculture
Forestry
Others
The medium excavator is available in different sizes and capacities to cater to various applications. Its power output can span from under 60HP to over 200HP. In Japan, the medium crawler excavator market is projected to reach a value of USD 609.6 million by 2027.
The 61hp-101hp crawler excavator is specifically used in urban development projects and excavation operations related to residential and commercial building activities.
Additionally, due to the growing range of attachments and advancements in machine design, excavators are becoming increasingly popular in agricultural settings. They offer enhanced versatility and efficiency on farms.
Competitive Landscape
In order to foster the growth of the crawler excavator market in Japan, vendors are actively engaged in creating innovations and developing technologies. Original Equipment Manufacturers (OEMs) have adopted a triple business model that encompasses the sale of new excavators, refurbished used excavators, and the rental of new equipment. This strategic approach allows Japanese manufacturers to extend their equipment reach to remote regions through the sales of refurbished equipment, thereby further promoting the demand for new equipment. Moreover, there is an increasing momentum in the Japan excavator market towards providing comprehensive smart industrial solutions that integrate robotic automation with cutting-edge technologies like Artificial Intelligence (AI), the Internet of Things (IoT), and big data analytics.
Key companies profiled in this report include Caterpillar, Komatsu, Hitachi, Sany, Volvo Construction Equipment, Kobelco, JCB, Hyundai Construction Equipment, Doosan, LeeBoy, Sumitomo, Mahindra, XCMG, Kubota, Ingersoll Rand, Liebherr.
Key Questions Answered
What is the projected compound annual growth rate (CAGR) for the Japan crawler excavator market during the forecast period (2021-2027)?
The market size is expected to grow at a CAGR of 3.08% during the forecast period.
Which segments are included in the crawler excavator market report?
The crawler excavator market report covers segments such as excavator type, gross power, and application.
Who are the leading players in the Japan crawler excavator market?
The top players in the industry include Caterpillar, Komatsu, Hitachi, Sany, Volvo Construction Equipment, Kobelco, JCB, Hyundai Construction Equipment, and Doosan.
What are the current trends in the Japan crawler excavator market?
The latest trends in the crawler excavator industry focus on innovation and technological advancements.
What are the key drivers of growth in the Japanese crawler excavator market?
The country’s economic development, which stimulates domestic demand for commodities and equipment, is a key driver of growth in the Japanese excavator market.