According to Technavio’s latest market research study, the global mini excavators market is expected to grow at a CAGR of close to 4% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global mini excavators market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the end-user type
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The top three revenue contributing end-user segments are discussed below
Global mini excavators market in the construction segment: In the construction sector, mini excavators are used in the construction of residential buildings, commercial buildings, and various transportation infrastructure. According to Technavio’s industrial analysts, the increased adoption of mini excavators in developing economies, along with increasing infrastructure investments in major developing economies in the coming years will facilitate further growth of the global mini excavators market in the construction segment.
“Rapid and sustained economic growth, centered primarily around India and China, is propelling the development of offices and extra commercial space, thereby increasing the demand for mini excavators. Retailers and shopping centers, which are adopting new strategies to compete with the e-commerce segment, will also favor market growth,” says Mantri Charan Kumar, a lead analyst at Technavio for research on construction.
Global mini excavators market in the utilities segment: The demand for mini excavators from the utilities segment is driven by their adoption in the fields of oil exploration, industrial construction, and maintenance. The recovering energy prices are expected to increase capacity additions in the oil and gas sector, boosting the demand for mini excavators in the coming years. The global mini excavators market in the utilities segment is likely to account for a revenue of almost USD 2 billion by 2021.
Global mini excavators market in the agriculture and forestry segment: Mini excavators are increasingly replacing backhoe loaders as one of the most important pieces of equipment in the industry. This is because mini excavators have versatile uses and are used in digging ditches, transporting bulky items, and loading and unloading items. The presence of a variety of attachments makes it a multi-tasking vehicle. Furthermore, mini excavators are gaining traction in the irrigation sector primarily due to versatile applications such as trenching, laying pipes, and backfilling, which is expected to reflect positively on the market by 2021.
The top vendors operating in the global mini excavators market are:
- Bobcat Company
- Caterpillar
- J C Bamford Excavators
- Takeuchi Global
Other prominent vendors in the market include Çukurova Ziraat, Deere & Company, Manitou Americas (GEHL), Hanix, Hitachi Construction Machinery, Hyundai Motor Company, IHIMER, KATO WORKS, Kobelco Construction Machinery, Komatsu, LiuGong Machinery, Mecalac, New Holland Construction, SANY GROUP, UNAC, Volvo Construction Equipment, Wacker Neuson, XCMG Group, and Yanmar.
A more detailed analysis is available in the Technavio report titled, ‘Global Mini Excavators Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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