Market Research Report
Mini Excavators Market by End-User and Geography - Forecast and Analysis 2020-2024
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||318852|
|Published||Content info||150 Pages
Delivery time: 1-2 business days
|Mini Excavators Market by End-User and Geography - Forecast and Analysis 2020-2024|
|Published: December 4, 2019||Content info: 150 Pages||
Technavio's mini excavators market analysis considers sales from construction, utility, and agriculture and forestry end-users. Our study also finds the sales of mini excavators in APAC, Europe, MEA, North America, and South America. In 2019, the construction segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising investments in the public sector will play a significant role in the construction segment to maintain its market position. Also, our global mini excavators market report looks at factors such as the growth of industrial and utility sectors, demand from the rental market, and expansion of mini excavators' application areas. However, the implementation of stringent environmental laws and regulations, raw material price volatility and availability of substitutes may hamper the growth of the mini excavators' industry over the forecast period.
Mini excavators are increasingly being deployed in various industries due to their ability to work in confined spaces. Because of their versatility, they are used for applications such as material handling, forestry, agriculture, log splitting, and railway maintenance because they come with several types of attachments such as buckets, augers, rakes, mowers, mulchers, rippers, and thumbs and grapples. Several manufacturers are introducing agriculture-specific models of mini excavators. Thus, the expansion of application areas will lead to the expansion of the global mini excavators market at a CAGR of over 9% during the forecast period.
The economic advantages of electric mini excavators and the implementation of stringent emission standards are anticipated to fuel the demand for electric mini excavators. Governing bodies are promoting electric vehicles (EVs) by providing attractive subsidies and implementing supportive policies for establishing EV infrastructure. Decreasing battery prices and the enhanced performance capabilities of EVs have boosted their adoption among consumers. Such trends in the automotive industry have encouraged mini excavator manufacturers to develop electric mini excavators. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global mini excavators market during the forecast period 2020-2024, view our report.
With the presence of several major players, the global mini excavators market is fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading mini excavators manufacturers, that include Caterpillar Inc., CNH Industrial NV, Doosan Corp., Hitachi Construction Machinery Co. Ltd., J.C. Bamford Excavators Ltd., Komatsu Ltd., Kubota Corp., Sany Group Co. Ltd., Takeuchi Mfg. Co. Ltd., and Yanmar Holdings Co. Ltd.
Also, the mini excavators market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.