DUBLIN--(BUSINESS WIRE)--The "Mini Excavators Market By Type, By Operating Weight, By End User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global mini excavator market size was valued at $ 6,550.50 million in 2020, and is projected to reach $ 10,243.30 million by 2030, registering a CAGR of 4.4% % from 2021 to 2030.
Mini excavator is construction equipment that provides assistance in performing the tasks of excavating, landscaping, and picking & placing, across construction, mining, and industrial sites. This equipment is compact and has robust performance, and is available in relatively low power ratings compared to heavy excavators. In addition, availability of advanced engines and superior power capabilities has led to use of mini excavators, which can perform optimally in small and narrow spaces. Moreover, mini excavators are track mounted and wheel mounted, providing it a greater maneuverability.
Rise in popularity of robust and compact construction equipment is the major factor that drives growth of the mini excavator market. In addition, versatile benefits associated with mini excavators such as durability, small size, alternative to heavy construction equipment, and superior maneuverability are anticipated to fuel the demand for mini excavators during the forecast period. In addition, major players are focused on developing fully electric mini excavators for agricultural, landscaping & construction, and other applications, which, in turn, is anticipated to propel growth in the mini excavators market.
For instance, in December 2020, AB Volvo launched 'VOLVO ECR25 ELECTRIC'. Further, significant number of ongoing construction and infrastructure development projects, especially in Asia-Pacific and LAMEA are expected to drive growth in the mini excavators market during the forecast period.
The mini excavator market is segmented on the basis of type, size, end user, and region. By type, the market is categorized into wheeled and tracked mini excavator. On the basis of size, it is categorized into less than 4 tons and 4 tons to 10 tons. On the basis on end user, the market is categorized into landscaping & construction and agriculture. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players that operate in the global market have adopted key strategies such as product launch, product development, and business expansion to strengthen their market outreach and sustain the stiff competition in the market.
Key Market Players
- AB Volvo
- Caterpillar Inc.
- Doosan Infracore Co. Ltd.
- Deere & Company
- Hitachi, Ltd.
- Hyundai Construction Equipment Co. Ltd.
- J C Bamford Excavators Ltd.
- Kobe Steel, Ltd.
- Komatsu Ltd.
- Takeuchi Mfg. Co., Ltd.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging mini excavator market trends and dynamics.
- In-depth market analysis is conducted by constructing market estimations for the key Market Segment between 2020 and 2030.
- Extensive analysis of the mini excavator market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
- The global mini excavator market forecast analysis from 2021 to 2030 is included in the report.
- The key market players within mini excavator market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the mini excavator industry.
Key Market Segments
By Type
- Wheeled
- Track
By Operating Weight
- Less than 4 tons
- 4 tons to 10 tons
By End User
- Landscaping and Construction
- Agriculture
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Russia
- Rest of Europe
- Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
For more information about this report visit https://www.researchandmarkets.com/r/gh9uoa
