Excavators take half of global construction equipment sales

Excavators now account for around half of all construction equipment sold worldwide, with global demand growing faster than the wider machinery market, according to new research from Off-Highway Research.

More than 570,000 mini, wheeled and crawler excavators were sold globally in 2025, with a combined retail value of around US$65 billion, according to the analyst’s latest report on the sector.

Off-Highway Research said long-term compound annual growth in global excavator demand stands at 4.6%, compared with 3.5% for construction equipment overall.

As a result, around one in every two construction machines sold globally is now an excavator of some type, compared with approximately one in three 20 years ago.

Excavator sales growth is expected to continue to outperform the wider equipment market.

Emerging economies are predicted to provide some of the strongest opportunities. Excavator sales in some developing markets have increased between sevenfold and more than twentyfold over the past two decades, although Off-Highway Research warned that these markets can also experience much sharper peaks and troughs than mature economies.

China reshapes global market

The report also highlights the changing competitive position of Chinese manufacturers.

A decade ago, Chinese OEMs accounted for around 6% of global excavator sales, compared with 49% for Japanese manufacturers.

By 2025, the Chinese share had risen to 30%, while Japanese OEMs accounted for 34%.

However, Off-Highway Research said the growth of the overall market means most manufacturers are selling more excavators than they were a decade ago, regardless of where their headquarters are located.

Around 10% of excavators sold worldwide in 2025 were also manufactured in China by non-Chinese OEMs, underlining the country’s importance as a production base.

Market value can differ significantly from unit volumes. North America, for example, sells around 10% fewer excavators than China but its market is approximately 50% more valuable in dollar terms, reflecting differences in machine size, specifications, customer requirements and pricing.

Electric excavators gain momentum

Electric excavator sales have so far lagged behind the adoption of battery-powered wheeled loaders and wide-bodied mining trucks, but Off-Highway Research said that started to change in 2026.

It pointed to moves by several Chinese cities to restrict diesel-powered construction equipment in an effort to improve air quality, alongside higher oil prices driving renewed interest in electric machinery.

Off-Highway Research expects faster adoption in China to encourage development of charging infrastructure and other supporting technologies, which it said will be important if electric excavators are to gain wider acceptance globally.

Future excavator demand is expected to remain stronger than the construction equipment market overall, although suppliers will need to balance long-term growth opportunities against volatility in emerging markets and rapidly changing technology and competitive dynamics.

For more information on Off-Highway Research’s report on the global excavator industry click here or contact [email protected].