According to Arizton’s latest research report, the Germany crawler excavator market is growing at a CAGR of 3.11% during 2023-2029.
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Report Summary
Market Size- Volume (2029): 35.1 Thousand Units
Market Size- Volume (2023): 29.2 Thousand Units
CAGR- Volume (2023-2029): 3.11%
Market Size- Revenue (2029): USD 1.7 Billion
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Size, Gross Power, And End Users
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In 2023, the German crawler excavator sector experienced a transitional phase marked by a downturn in building construction and geopolitical tensions. New order intake decreased notably, yet sales remained relatively stable in the market. This stability was attributed to the reduction of the significant order backlog from 2021/2022. As per September 2023, HD Hyundai Infracore Co. is establishing its directly managed European subsidiary in Germany to counterbalance the sluggish demand from financially strained Chinese developers.
Moreover, Germany has committed to investing $220 billion by 2026 to support its industrial transformation, focusing on climate protection, hydrogen technology, and the expansion of electric vehicle charging stations.
The European Commission’s Green Infrastructure Strategy, introduced in 2020, aims to develop both natural and engineered systems that act as living infrastructure. This strategy promotes social, economic, and ecological growth with an emphasis on sustainable development.
In 2024, the German government approved $63 billion to combat climate change, with the objective of achieving greenhouse gas neutrality by 2045. This includes approximately $20 billion allocated to the construction sector for building renovations and new construction projects. Additionally, $13.7 billion is designated for renewable energy subsidies, and $5.1 billion is set aside for expanding the country’s electric vehicle charging infrastructure.
These investments in green construction are expected to drive a significant increase in the sales of crawler excavators during the forecast period.
Germany Crawler Excavator Market Dynamics
Drivers
Surge In Renovation & Repair Projects for Public Infrastructure
Focus On Sustainability and Smart Cities Development
Increased Investment in Green Fuel Solutions
Trends
Adoption Of Building Information Modeling (BIM)
Investment In Green Infrastructure Strategy
Growing Demand for Mini & Small Crawler Excavators
Challenges
Residential Slump in Germany
Skilled Labor Shortage
New Emission Norms Are Expected to Restrict the Use of Large Excavators
Key Highlights
In 2023, crawler excavator uses in the construction industry accounted for the largest market share by end-users.
In 2023, the German crawler excavator sector experienced a transitional phase marked by a downturn in building construction and geopolitical tensions. New order intake decreased notably, yet sales remained relatively stable. This stability was attributed to reducing the significant order backlog from 2021 & 2022.
According to VDMA, construction equipment sales, including crawler excavators, are expected to decline by nearly 10% in 2024.
In 2023, the construction sector in Germany faced difficulties due to an overall economic slowdown. Factors like increased product costs, labor shortages, and financing challenges affected the market, especially in housebuilding. The PMI index has continuously declined since April 2022, suggesting a prolonged downturn with no immediate resolution.
Residential construction is expected to decrease by 6.0% in 2024 but recover by 3.5% in 2025 despite increased demand from Ukrainian refugees and migrants.
Additionally, non-residential construction spending is forecasted to decrease by 2.5% in 2024 before a slight recovery of 3.0% in 2025, influenced by weaker economic growth and high costs.
As of Sept 2023, HD Hyundai Infracore Co. is establishing its directly managed European subsidiary in Germany to counterbalance sluggish demand from financially strained Chinese developers.
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Prominent Vendors
Caterpillar
Komatsu
Volvo Construction Equipment
Hitachi Construction Machinery
Liebherr
JCB
SANY
Xuzhou Construction Machinery Group (XCMG)
Kobelco
Hyundai Construction Equipment
Zoomlion Heavy Industry Science & Technology Co., Ltd.
John Deere
Kubota
LiuGong
Yanmar
Takeuchi Manufacturing
DEVELON
Hidromek
Bobcat
Mecalac
Wacker Neuson
CNH Industrial
Distributor Profiles
Thomas Baumaschinen
Kuhn-Baumaschinen.de
Schlüter Baumaschinen GmbH
Tecklenborg
Werner Seemann GmbH & Co. KG
Baumaschinen Aschauer
Market Segmentation
Crawler Excavator
Size
Mini Excavator
Small Excavator
Medium Excavator
Large Excavator
Gross Power
Less Than 60 HP
60 HP -100 HP
101 HP-200 HP
Above 200 HP
End Users
Construction
Mining
Agriculture
Forestry
Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)
Key Questions Answered in the Report:
How big is the Germany crawler excavator market?
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What are the trends in the Germany crawler excavator market?
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Which are the major distributor companies in the Germany crawler excavator market?
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