Dragline Excavator Market Size - By Excavators (Standard Lifting Crane, Onsite Excavator), By Power Source (Diesel-mechanical, Diesel-electric Hybrid), By Application (Sand Factory, Surface Mining), Regional Outlook & Forecast, 2024 - 2032

Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Construction | Format: Report available in PDF / Excel Format

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Dragline Excavator Market Size - By Excavators (Standard Lifting Crane, Onsite Excavator), By Power Source (Diesel-mechanical, Diesel-electric Hybrid), By Application (Sand Factory, Surface Mining), Regional Outlook & Forecast, 2024 - 2032

Dragline Excavator Market Size

In 2023, the market for dragline excavators was worth approximately $816 million. It's expected to grow steadily over the next decade, with an estimated average annual increase of more than 3%. This growth is being driven by the rising demand for minerals and metals like iron ore, coal, copper, and lithium. Traditional excavators often struggle to handle the huge volumes of material needed in mining these resources. That's where dragline excavators come in. They have giant buckets and long arms, making them ideal for large-scale surface mining. In fact, they're more cost-effective per ton of material removed than smaller equipment, especially for big mining operations.

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According to the International Energy Agency, in July 2023, the critical minerals market saw unprecedented growth as clean energy demand drove a strong increase in investments. It also stated that the market for minerals used to power Electric Vehicles (EVs), wind turbines, solar panels, and other essential technologies for the clean energy transition has doubled in size over the past five years.
 

Dragline Excavator Market Report Attributes
Report Attribute Details
Base Year 2023
Dragline Excavator Market Size in 2023 USD 816.7 Million
Forecast Period 2024 – 2032
Forecast Period 2024 – 2032 CAGR 3%
2024 – 2032 Value Projection USD 1.06 Billion
Historical Data for 2018 – 2023
No. of Pages 200
Tables, Charts & Figures 300
Segments covered Excavators, power source, and application
Growth Drivers
  • Increasing demand for minerals and metals
  • Expansion of the construction industry
  • Rising adoption of surface mining techniques
  • Advancements in technology
Pitfalls & Challenges
  • High initial investments and maintenance costs
  • Skilled labor shortage

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The expansion of the construction industry is another major factor fueling the dragline excavator market expansion. Dragline excavators excel at large-scale earthmoving activities, making them ideal for infrastructure projects such as constructing roads, bridges, dams, and airports. The global push for infrastructure development, especially in emerging countries, augments the demand for these devices.

Dragline excavators outperform smaller equipment in terms of productivity and cost per unit of material moved on large-scale excavation operations. This cost-benefit makes them appealing to construction businesses working with large earthmoving projects, thereby driving the overall market. For instance, in December 2023, Business Standards stated that India is amid a huge housing boom and this trend will continue to grow. The ever-expanding construction industry is a key factor in the market growth.

The dragline excavator market is impeded by the requirement for high initial investments and maintenance costs. Purchasing a dragline excavator necessitates a significant upfront expenditure, frequently in millions of dollars. This can be a major obstacle for smaller businesses or those with restricted budgets, limiting market entrance and reducing the overall number of possible purchasers. Also, owing to their size and complexity, dragline excavators require frequent maintenance and repairs. The continuous fees increase adds to the overall financial burden, creating another obstacle for potential purchasers.

Dragline Excavator Market Trends

The dragline excavator industry is witnessing significant technological advancements. Modern dragline excavators constitute automation capabilities, which reduce the need for on-site staff while improving operating safety. Remote operation features provide precise control from a safe distance, reducing hazards and improving machine usage. The integration of sensors and data analytics provides real-time monitoring of machine performance, fuel consumption, and operational parameters. This data-driven strategy optimizes operating parameters, increases efficiency, and reduces downtime.

Technological advancements are opening the way for hybrid and electric dragline excavators, reducing fuel consumption and emissions, leading to more sustainable mining and construction industries. For instance, in June 2023, Komatsu developed an autonomous control system for dragline excavators. This system allows remote operation of dragline excavators, enhancing safety and reducing the need for personnel on-site. It uses LiDAR, cameras, and other sensors to provide precise control and increase operational efficiency.

Dragline Excavator Market Analysis

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In 2023, the standard lifting cranes industry was booming, with these cranes taking the lion's share of the market—over 53%. This is because standard lifting cranes are super versatile. They can handle a wide range of jobs like lifting heavy objects, digging, and moving materials. They're commonly used in industries like mining, construction, and building roads and bridges. On the other hand, excavators are great for specialized tasks. But they're not as adaptable when the job requirements change. Standard lifting cranes are also usually cheaper to buy than excavators. This makes them a more affordable option for businesses, especially smaller ones or those with tighter budgets. So, the bigger pool of buyers means standard lifting cranes have a bigger slice of the market.

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Based on the application, the surface mining segment recorded around 52% of the dragline excavator market share in 2023. Dragline excavators are highly efficient at moving enormous volumes of material, making them ideal for large-scale overburden removal and mineral extraction in surface mining. Their extended reach and strong buckets can handle large loads with fewer passes, thereby increasing productivity. Dragline excavators are also used to mine other minerals, such as copper, sand, and gravel, especially in large-scale open-pit operations. Their flexibility and effectiveness strengthen their position as market leaders in a wide range of surface mining applications.

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Asia Pacific dragline excavator market accounted for 44% of the revenue share in 2023. This region is undergoing rapid infrastructure development and industrialization, increasing demand for minerals such as coal, iron ore, copper, and lithium. Dragline excavators play an important part in large-scale surface mining and are ideal for meeting this demand effectively.

Also, extracting coal, which is a key energy source in many Asian countries, requires continuous reliance on surface mining, and dragline excavators meet the application demand. Apart from mining and infrastructure, dragline excavators are being used in land reclamation, port development, and renewable energy projects including wind farm construction, expanding their market reach.

Dragline Excavator Market Share

Caterpillar Inc., Komatsu Ltd., and Liebherr International Deutschland GmbH hold a significant market share of over 35% in the dragline excavator industry. These companies often invest in R&D to introduce innovative dragline excavators with advanced features, improved efficiency, and enhanced safety. Continuous product innovation helps attract customers looking for cutting-edge technology.

Companies focus on staying ahead in terms of technological advancements. Integrating advanced technologies, such as automation, remote monitoring, and telematics, into dragline excavators can enhance their performance, efficiency, and overall value proposition. Furthermore, offering customization options to meet specific customer requirements and providing comprehensive customer support, including training and aftermarket services, helps build long-term relationships and customer loyalty.

Dragline Excavator Market Companies

Major companies operating in the dragline excavator industry are

  • AB Volvo
  • Caterpillar Inc.
  • Deere & Co.
  • Doosan Bobcat Inc.
  • Heavy Engineering Corp. Ltd.
  • Hitachi Construction Machinery Co. Ltd.
  • Hyundai Construction Equipment Co. Ltd.
  • Komatsu Ltd.
  • Liebherr International Deutschland GmbH
  • Sumitomo Heavy Industries, Ltd.

Dragline Excavator Industry News

  • In July 2023, Hitachi Construction Machinery introduced a new EX5600-6E electric dragline excavator. This electric dragline excavator produces lower emissions and reduces operational expenses compared to its diesel counterpart. It features a regenerative braking system that increases energy efficiency and minimizes dependency on grid power.
  • In June 2023, Caterpillar unveiled the world's largest electric rope shovel at MINExpo 2023. This electric rope shovel, the Cat 6040 XE, has a 40-cubic-yard bucket capacity and is intended for high-production surface mining operations. It uses a strong electric motor instead of a standard diesel engine, resulting in much lower emissions and operating expenses.

The dragline excavator market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Million) and shipments (Units) from 2018 to 2032, for the following segments

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Market, By Excavators

  • Standard lifting crane
  • Onsite excavator

Market, By Power Source

  • Diesel-mechanical
  • Diesel-electric hybrid

Market, By Application

  • Sand factory
  • Surface mining
  • Others

The above information has been provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ANZ
    • Southeast Asia
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA

 

 

Table of Content

Report Content

Chapter 1   Methodology & Scope

1.1    Market scope & definitions

1.2    Base estimates & calculations

1.3    Forecast calculations

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1   Paid sources

1.4.2.2   Public sources

Chapter 2   Executive Summary

2.1    Industry 3600 synopsis, 2018-2032

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.2    Supplier landscape

3.2.1    Raw material suppliers

3.2.2    Component suppliers

3.2.3    Manufacturers

3.2.4    Distribution channel analysis

3.2.5    End users

3.3    Profit margin analysis

3.4    Technology & innovation landscape

3.5    Patent analysis

3.6    Price trend analysis

3.7    Key news & initiatives

3.8    Regulatory landscape

3.9    Impact forces

3.9.1    Growth drivers

3.9.1.1   Increasing demand for minerals and metals

3.9.1.2   Expansion of the construction industry

3.9.1.3   Rising adoption of surface mining techniques

3.9.1.4   Advancements in technology

3.9.2    Industry pitfalls & challenges

3.9.2.1   High initial investment and maintenance costs

3.9.2.2   Skilled labor shortage

3.10    Growth potential analysis

3.11    Porter’s analysis

3.11.1    Supplier power

3.11.2    Buyer power

3.11.3    Threat of new entrants

3.11.4    Threat of substitutes

3.11.5    Industry rivalry

3.12    PESTEL analysis

Chapter 4   Competitive Landscape, 2023

4.1    Introduction

4.2    Company market share analysis

4.3    Competitive positioning matrix

4.4    Strategic outlook matrix

Chapter 5   Market Estimates & Forecast, By Excavators, 2018-2032 ($Mn, Units)

5.1    Key trends

5.2    Standard lifting crane

5.3    Onsite excavator

Chapter 6   Market Estimates & Forecast, By Power Source, 2018-2032 ($Mn, Units)

6.1    Key trends

6.2    Diesel-mechanical

6.3    Diesel-electric hybrid

Chapter 7   Market Estimates & Forecast, By Application, 2018-2032 ($Mn, Units)

7.1    Key trends

7.2    Sand factory

7.3    Surface mining

7.4    Others

Chapter 8   Market Estimates & Forecast, By Region, 2018-2032 ($Mn, Units)

8.1    Key trends

8.2    North America

8.2.1    U.S.

8.2.2    Canada

8.3    Europe

8.3.1    UK

8.3.2    Germany

8.3.3    France

8.3.4    Italy

8.3.5    Spain

8.3.6    Russia

8.3.7    Rest of Europe

8.4    Asia Pacific

8.4.1    China

8.4.2    India

8.4.3    Japan

8.4.4    South Korea

8.4.5    ANZ

8.4.6    Southeast Asia

8.4.7    Rest of Asia Pacific

8.5    Latin America

8.5.1    Brazil

8.5.2    Mexico

8.5.3    Argentina

8.5.4    Rest of Latin America

8.6    MEA

8.6.1    South Africa

8.6.2    Saudi Arabia

8.6.3    UAE

8.6.4    Rest of MEA

Chapter 9   Company Profiles

9.1    AB Volvo

9.2    Action Construction Equipment Ltd.

9.3    American Mine Services

9.4    BAUER AG

9.5    BEML Ltd.

9.6    Broadwind Energy Inc

9.7    Caterpillar Inc.

9.8    Deere & Co.

9.9    Doosan Bobcat Inc.

9.10    Heavy Engineering Corp. Ltd.

9.11    Hitachi Construction Machinery Co. Ltd.

9.12    Hyundai Construction Equipment Co. Ltd.

9.13    Kobe Steel Ltd.

9.14    Komatsu Ltd.

9.15    Liebherr International Deutschland GmbH

9.16    SENNEBOGEN Maschinenfabrik GmbH

9.17    Siemens AG

9.18    Sumitomo Heavy Industries, Ltd.

9.19    The Manitowoc Co. Inc.

9.20    Xuzhou Construction Machinery Group Co. Ltd.

  • AB Volvo
  • Caterpillar Inc.
  • Deere & Co.
  • Doosan Bobcat Inc.
  • Heavy Engineering Corp. Ltd.
  • Hitachi Construction Machinery Co. Ltd.
  • Hyundai Construction Equipment Co. Ltd.
  • Komatsu Ltd.
  • Liebherr International Deutschland GmbH
  • Sumitomo Heavy Industries, Ltd.

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