South Korea Excavators Market Size, Share, and COVID-19 Impact Analysis, By Type (Wheel and Crawler), By Vehicle Weight (< 10, 46 >), and South Korea Excavators Market Insights, Industry Trend, Forecasts to 2035.

South Korea Excavators Market Insights Forecasts to 2035

• The South Korea Excavators Market Size was estimated at USD 0.46 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 5.51% from 2025 to 2035
• The South Korea Excavators Market Size is Expected to Reach USD 0.83 Billion by 2035

According to a research report published by Spherical Insights & Consulting, the South Korea Excavators Market is anticipated to reach USD 0.83 billion by 2035, growing at a CAGR of 5.51% from 2025 to 2035. Expanding as a result of extensive infrastructure projects and quick urbanization, particularly in cities like Seoul and Busan. Demand is being increased by technological developments like eco-friendly engines and smart systems, and market expansion is being further accelerated by government spending on sustainable construction.

Market Overview

The market for excavators in South Korea is the sector of the economy devoted to the manufacture, sale, and use of these large construction tools for excavation, earthmoving, demolition, and site preparation in residential, commercial, and industrial projects. Additionally, rapid technological advancements, including the incorporation of automation and smart technologies in excavators, have made the South Korean excavators market industry poised for growth. Big companies are spending money on R&D to create cutting-edge equipment that uses less fuel and is more efficient. R expenditures in the machinery sector are expected to rise to KRW 1.5 trillion by 2025, according to the Korea Ministry of Trade, Industry, and Energy. Modern excavators are appealing to construction companies because they increase productivity while lowering operating costs. This continuous innovation is probably going to fuel the South Korean market's expansion.

Report Coverage

Driving Factors

This research report categorizes the market for the South Korea excavators market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea excavators market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea excavators market.

South Korea has been rapidly becoming more urbanized, with major cities like Seoul constantly growing. In order to support infrastructure development projects, the construction industry has a constant need for excavators. The South Korean Excavators Market Industry is driven by the government's commitment to making significant investments in public works, such as building roads, bridges, and residential structures. Indeed, the Ministry of Land, Infrastructure, and Transport estimates that annual investments in infrastructure development will surpass KRW 20 trillion, underscoring the significant growth prospects in this field. The demand for excavators is expected to increase dramatically due to the nation's ongoing urban projects, which will help the South Korean excavators market continue to grow.

Restraining Factors

South Korean modern excavators are outfitted with sophisticated technologies that need to be operated by trained professionals in order to be used effectively and safely. Nevertheless, a lack of skilled workers in redevelopment areas slows down project schedules and minimizes the use of the best equipment. To close this disparity, manufacturers and contractors are now spending money on automation and training initiatives.

Market Segmentation

The South Korea excavators market share is classified into type and vehicle weight.

• The crawler segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea excavators market is segmented by type into wheel and crawler. Among these, the crawler segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Its dominance is a result of high demand in mining, infrastructure, and urban redevelopment projects, where heavy-duty performance, stability, and digging depth are essential. Because they can support long-duration tasks and function on uneven terrain, crawler models are recommended.

• The 46 > segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea excavators market is segmented by vehicle weight into < 10, 46 >. Among these, the 46 > segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. The need for high-capacity, heavy-duty excavators for deep excavation and prolonged operating cycles in large-scale mining, infrastructure, and industrial projects is what is driving this dominance. These machines are favored because of their strength, resilience, and capacity to work with challenging materials and terrain.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea excavators market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• HD Hyundai Construction Equipment
• Doosan Bobcat
• Samsung Heavy Industries
• SK Heavy Industries
• Others

Recent Developments:

• In April 2025, the HX400 will hit the Korean market in May, followed by a European release in June and a North American release in April 2026, while the DX240 will launch in Korea in May. It will also be sold in the European and North American markets as the DX230 in July and in April 2026, respectively.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea Excavators Market based on the below-mentioned segments:

• South Korea Excavators Market, By Type
  • Wheel
  • Crawler

• South Korea Excavators Market, By Vehicle Weight 
  • < 10
  • 46 >