Mini Excavators Market: Key Findings
- Mini excavators market value to grow by USD 3.15 billion at almost 7% CAGR during 2021-2025
- 42% of market growth to originate from APAC during the forecast period
- Based on the end-users, the construction segment will offer maximum opportunities for vendors during the forecast period
- Mini excavators market is expected to have a negative impact due to the spread of COVID-19
Mini Excavators Market: Growth Drivers
The growth of industrial and utility sectors is one of the prime factors driving the growth of the market. The growing number of power and energy-related projects has significantly increased the use of mini excavators across the world. Mini excavators are extensively used in the industrial and utility sectors for the installation, maintenance, and repair of electric transmission networks and gas pipelines. Besides, countries such as India, China, Brazil, Thailand, and other ASEAN countries are making significant investments to enhance electricity production and distribution networks. All these factors are expected to drive the demand for mini excavators during the forecast period.
“Increasing manufacturers’ emphasis on electric mini excavators and the emergence of additive manufacturing will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Mini Excavators Market: Major Vendors
Caterpillar Inc. operates its business through segments such as Resource Industries, Construction Industries, Energy and Transportation, and Financial Products. The company offers an extensive line of mini hydraulic excavators ranging from 1 to 10 metric tons.
CNH Industrial NV
CNH Industrial NV operates its business through segments such as Agricultural equipment, Construction equipment, Commercial and specialty vehicles, Powertrains, and Financial services. The company provides its C Series line of mini excavators that include seven models from 1.7 to 6.0 metric tons.
Doosan Corp. operates its business through segments such as Electro-Materials BG, Mottrol BG, Industrial Vehicle BG, Doosan Digital Innovation BG, Others, DHC, DI, DEC, and DE. The company offers its DX range of Mini Excavators for end-user applications.
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