This market research report segments the global mini excavator market by geography and includes regions like APAC, EMEA, and the Americas. The report also includes a section on the key drivers, trends, and challenges that influence market growth. Key vendors analysed in this report are Caterpillar, Hitachi Construction Machinery, Komatsu, John Deere, and Volvo Construction Equipment.
Technavio has released updated information on the excavator market, with the publication of its new report, global mini excavator market. The global mini excavator market is expected to grow at a CAGR of close to 9% between 2015 and 2019, owing to increasing investments in the residential construction and transport infrastructure development.
Technavio’s market research analysts have estimated the Americas to account for the largest market share during the forecast period. Factors like the large-scale investment in urban infrastructure projects, followed by reconstruction of existing infrastructure are responsible for this region’s high market share during the period of 2014 and 2019.
APAC leads the global mini excavator market, accounting for around 45% of the total market share. High growth in real estate segment in the region is boosting the demand for residential and non-residential buildings, which is triggering the demand for mini excavators.
This demand for essentially emanates from the residential and non-residential sector, as well as from the infrastructure sector. Increased investment towards urban infrastructure development and rising demand in building construction segment are the major propelling factors of this market’s growth. Also, increased capital investment in the real estate market with the growing construction of high rise buildings constitute a key trend positively impacting the mini excavators market.
“Increased awareness on carbon emissions and stringent regulations have propelled the demand for cost-efficient and environment-friendly excavators. Construction companies are increasingly using such excavators due to their fuel-saving and cost-cutting capacity. Also, equipment manufacturers are launching advanced technologies in excavators that can measure the equipment’s performance. Such features will not only evaluate equipment operation, but will also calculate fuel consumption of the equipment,” says Navin Rajendra, Lead Analyst, Engineering and Automation, Technavio Research.
Leading vendors in the global mini excavator market are Caterpillar, Hitachi Construction Machinery, Komatsu, John Deere, and Volvo Construction Equipment. The market for mini excavators is highly fragmented and competitive due to the presence of numerous local and international vendors. These vendors compete with each other to innovate excavators that are superior in terms of product design, product price, product line, and better after sales service.
A more detailed analysis is available in the Technavio report, Global Mini Excavator Market 2015-2019 – Industry Analysis.
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