Mini Excavators Market By Type (Wheeled, Track), By Operating Weight (Less than 4 tons, 4 tons to 10 tons), By End User (Landscaping and Construction, Agriculture): Global Opportunity Analysis and Industry Forecast, 2021-2030
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
COMPETITION ANALYSIS
Key companies profiled in the mini excavator market report include 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., and other players.
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 segments between 2020and 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
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.
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