Hydraulic Excavator Market Report 2026

The hydraulic excavator market size has grown steadily in recent years. It will grow from $71.28 billion in 2025 to $73.33 billion in 2026 at a compound annual growth rate (CAGR) of 2.9%. The growth in the historic period can be attributed to urbanization and infrastructure growth, traditional earthmoving methods, expansion of contractor fleets, mechanized construction adoption, availability of diesel excavators.

The hydraulic excavator market size is expected to see steady growth in the next few years. It will grow to $82.74 billion in 2030 at a compound annual growth rate (CAGR) of 3.1%. The growth in the forecast period can be attributed to electrification of construction equipment, smart jobsite integration, emission regulations, growth of rental services, demand for fuel efficient machinery. Major trends in the forecast period include shift toward compact and mini excavators, rising rental equipment demand, adoption of hybrid and electric excavators, focus on operator comfort and safety, expansion of urban construction projects.

The increasing construction activities are expected to drive the growth of the hydraulic excavators market going forward. Construction activities involve the development of buildings, infrastructure, and other structures. The rise in construction is driven by rapid urbanization, infrastructure expansion, and a focus on efficiency and precision in building projects. Hydraulic excavators are essential in modern construction, providing the power, efficiency, and versatility needed to perform diverse and demanding tasks. For instance, in July 2024, according to the Bureau of National Statistics, a Kazakhstan-based government agency, the total value of construction services in 2023 was estimated at 7.61 trillion tenge, reflecting a 15.1% increase compared to 2022. Therefore, the growth in construction activities is boosting the hydraulic excavators market.

Major companies in the hydraulic excavator market are focusing on advanced solutions such as intelligent machine control (IMC) 3 to enhance operational productivity and achieve greater precision. Intelligent machine control (IMC) 3 is an advanced, sensor- and GNSS-enabled automation system that uses 3D design data to guide and control excavator movements in real time, helping operators achieve higher digging accuracy, automate tasks, reduce rework, and improve overall site productivity. For example, in April 2025, Komatsu Ltd., a Japan-based global construction machinery manufacturer, launched the PC220LCi-12 intelligent excavator for automated and precise site operations. It features factory-integrated 3D boundary control, automatic bucket-movement adjustments to match design specifications, and real-time payload and bucket-edge monitoring, improving productivity, minimizing rework, reducing the need for survey personnel, and enhancing decision-making through precise digital excavation control.

In September 2024, Epiroc AB, a Sweden-based mining company specializing in innovative and safe equipment, acquired ACB Morin for an undisclosed sum. This acquisition enables Epiroc AB to expand its product range in excavator attachments and quick couplers, strengthen its market presence in Europe, and foster innovation in sustainable construction practices. ACB Morin, a France-based manufacturer, supplies essential hydraulic components that improve the performance and efficiency of hydraulic excavators.

Major companies operating in the hydraulic excavator market are Caterpillar Inc., Deere & Company, Komatsu Ltd., Kubota Corporation, Liebherr Group, Sany Heavy Industry Co. Ltd., Volvo Construction Equipment, Hitachi Construction Machinery Co. Ltd., Sumitomo Heavy Industries Construction Crane Co. Ltd., Zoomlion Heavy Industry Science & Technology Co. Ltd., Terex Corporation, JCB Inc., Wacker Neuson SE, Lonking Holdings Limited, Shantui Construction Machinery Co. Ltd., Bobcat Co., Sunward Intelligent Equipment Co. Ltd., Kobelco Construction Machinery Inc., Guangxi LiuGong Machinery Co. Ltd., Takeuchi Manufacturing Co. Ltd., Hyundai Construction Equipment Co. Ltd., Doosan Infracore Co. Ltd., XCMG Construction Machinery Co. Ltd., Yanmar Holdings Co. Ltd., Shandong Huitong Heavy Industry Co. Ltd.

Asia Pacific was the largest region in the hydraulic excavator market in 2025. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the hydraulic excavator market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hydraulic excavator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The hydraulic excavator market consists of sales of short-swing radius excavators, long-reach excavators, and compact excavators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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