Mini Excavators Market Growth, Size, Demands and Trends with Players Caterpillar Inc, Hitachi Ltd, Deere & Company

Technological Advancements Strikes Uptake for Mini Excavators Market

PORTLAND, OR, UNITES STATES, March 16, 2022 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, the global mini excavators market size is expected to reach $11.9 billion in 2027 from $9.0 billion in 2019, growing at a CAGR of 5.4% from 2020 to 2027. Mini excavators are compact and robust construction equipment that facilitate assistance in performing tasks and operations that were earlier suitable for heavy construction equipment or were labor intensive. Hence, mini excavators have large scope of applications among various activities, such as landscaping, digging, loading/unloading, material handling, and demolition across different industries.

Rapid urbanization & industrialization, growth in global infrastructure & developmental projects, and benefits associated with mini excavators drive the growth of the global mini excavators market. However, absence of skilled operators & technicians and used & rental equipment hamper the market growth. On the contrary, technological advancements and standardization of mini excavators are expected to create lucrative opportunities for the market players in the future.

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Covid-19 scenario:

Due to the outbreak of Covid-19, the governments of various countries have temporarily suspended the production of mini excavators.
The prolonged lockdown has affected international trade and ceased construction processes.
However, relaxation in lockdown measures is expected to resume construction and excavation activities.

The global mini excavators market is segmented on the basis of capacity, end-user industry, and geography. Based on capacity, the market is divided into less than 4 tons and more than 4 tons. The more than 4 tons segment held the largest share in 2019, accounting for nearly two-thirds of the market. However, the less than 4 tons segment is expected to register the highest CAGR of 6.3% during the forecast period.

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On the basis of end-user industry, the market is categorized into landscaping & construction, agriculture, and others. The landscaping & construction segment held the largest share in 2019, contributing to nearly half of the market. However, the agriculture segment is expected to manifest the highest CAGR of 5.2% during the study period.

The global mini excavators market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is anticipated to portray the highest CAGR of 6.8% during the forecast period. Moreover, the region held the lion’s share in 2019, accounting for more than one-third of the market.

Leading Players:
The global mini excavators market report includes an in-depth analysis of the major market players including AB Volvo Group, Cukurova Ziraat, Caterpillar Inc, Hitachi Ltd, Deere & Company, J C Bamford Excavators Ltd, Hyundai Construction Equipment Co Ltd, Komatsu Ltd, Kobe Steel Ltd, and Takeuchi Mfg. Co Ltd.

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David Correa
Allied Analytics LLP
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