Dragline excavators are heavy machineries used for various purposes, such as, surface mining and civil engineering. Draglines excavators used in civil engineering are usually smaller in size, and look like a crane. These are widely used in road construction, port development, pond and canal dredging, etc. Large dragline excavators built on site are commonly used in mining operations. Large, heavy draglines are among the largest mobile land machines ever built.
Rise in infrastructural development and rapid urbanization in developing countries are the major factors driving the growth of the dragline excavator market worldwide. Mining and energy sectors are also playing a pivotal role in the growth of the market, owing to large-scale employment of dragline excavators in the mining industry. Moreover, massive construction projects, such as, railway construction, oil & gas infrastructure development, and commercial construction is likely to boost the growth of the dragline excavators market in the near future. Further, rise in commercial and residential construction in developing economies is projected to accelerate the demand for mini dragline excavators in the global market.
Rise in investment in residential construction and road construction is expected to boost the demand for dragline excavators in the global market. Increase in demand for environment-friendly and fuel-efficient dragline excavators is likely to gradually replace convectional excavators with advanced and more efficient excavators, thereby contributing to the growth of the dragline excavator market worldwide. Introduction of advanced technologies is further fuelling the growth of the global dragline excavators market. Manufacturers are now coming up with robotic or driverless excavators.
The global dragline excavator market can be segmented based on type, bucket type, application, and geography. In terms of type, the market can be divided into wheel mounted dragline, crawler type dragline, and truck mounted dragline or portable dragline. Based on bucket type, the dragline excavator market can be classified into light bucket, medium bucket, and heavy bucket. In terms of application, the dragline excavator market can be segmented into surface mining, civil engineering, and excavation. Based on geography, the global dragline excavator market can be categorized into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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Asia Pacific accounts for the major share of the global dragline excavator market, owing to rapid urbanization and rise in construction activities in the region. Growth in population in countries, such as, China and India is expected to bolster the growth of the construction market in Asia Pacific, which in turn, is expected to boost the demand for dragline excavators in the region. Moreover, construction of roads and infrastructure is anticipated to increase rapidly in these countries in the near future, further boosting the dragline excavator market. North America is a favorable market for dragline excavators. The dragline excavators market in Europe appears positive, as dragline excavators are used on a large scale in the developed countries of the region, such as, Germany, France, and the U.K.
The global dragline excavator market is highly competitive due to the presence of a large number of local and international players. Manufacturers are adopting strategies, such as, rentals, partnership with component providers, and investment in research & development to broaden their product portfolio. Key market players include Caterpillar Inc., Komatsu Ltd., The Liebherr Group, Cukurova Ziraat, Hitachi Construction Equipment, Hyundai Construction Equipment Co., Ltd., Volvo Construction Equipment, J C Bamford Excavators, Takeuchi Mfg. Co., Ltd., Deere & Company (John Deere), and Kobe Steel, Ltd. (Kobelco). These companies are focused on strategies such as product launch to strengthen their position in the global dragline excavator market.