Report Ocean presents a comprehensive research report on Mini Excavators, analyzing 150+ country markets and leveraging 1,00000+ annual reports. Crafted by top experts and researchers, this report ensures accuracy through authentic sources and robust methodologies like S.W.O.T., P.E.S.T.E.L. analysis, and regression analysis. It delves into technology, innovation, regulations, and future prospects in the Mini Excavators industry.
The global mini excavators market size was valued at US$ 6.9 billion in 2021. The global mini excavators market is projected to grow to US$ 9.8 billion by 2030 by registering a compound annual growth rate (CAGR) of 4.8% during the study period from 2022 to 2030.
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Depending on the needs of the application, mini excavators are pieces of construction machinery with a dipper, boom, or bucket mounted on a mobile platform. These excavators help with tasks like gardening, excavation, dismantling, picking and putting, material handling, building, and other tasks. Additionally, a tiny excavator helps with labor-intensive jobs or projects that were formerly handled by large construction machinery.
Factors Influencing the Market
Excavators are mostly employed in the construction and agricultural sectors for a variety of purposes. A huge excavator is not necessarily the best tool for handling small-scale tasks, therefore, mini excavators are gaining significant traction. Mini excavators are simple and affordable, which are prominent benefits driving the growth of the global market during the analysis period. Furthermore, the growing construction industry, rising urbanization, and rising global population will greatly affect the market for mini excavators during the study period.
Additionally, mini excavators are present in a wide range and for all small-scale applications, such as excavating small trenches and pits, handling lighter loads, maintaining land surface, etc. Moreover, the benefits of adopting advanced battery technologies and the integration of cameras and other spatial sensors will present untapped growth opportunities for the global market during the analysis period.
Growing efforts by industry players thriving in the mini excavator industry to develop high-performance battery-powered mini excavators will fuel the growth of the market. For instance, Hitachi Construction Machinery Tierra Co., Ltd., a renowned provider of construction machinery, unveiled a 5-tonne class ZX55U-6EB battery-powered mini excavator in Europe in April 2022. Therefore, it will contribute to the growth of the mini excavators market during the analysis period.
COVID-19 Impact Analysis
The COVID-19 pandemic has had an enormous impact on the economies, which negatively affected the global mini excavators market. The pandemic forced the halting of the production of many components of mini excavators, which affected the overall production of mini excavators. Additionally, the agriculture and construction industry were dramatically affected by the COVID-19 disease, which led to a decline in the sales of mini excavators.
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Regional Analysis
The Asia-Pacific mini excavators market is expected to record potential growth due to the growing spending on construction activities by government and non-government entities. Further, growing urbanization and the large population of the region will significantly upsurge the demand for mini excavators during the study period, therefore driving the growth of the overall market during the study period.
Competitors in the Market
AB Volvo
Caterpillar, Inc.
Doosan Infracore Co. Ltd.
Deere & Company
Hitachi, Ltd.
Hyundai Construction Equipment Co., Ltd.
J C Bamford Excavators, Ltd.
Kobe Steel, Ltd.
Komatsu, Ltd.
Takeuchi Mfg. Co., Ltd.
Other Prominent Players
Market Segmentation
The global mini excavators market segmentation focuses on Type, Operating Weight, End-User, and Region.
Mini Excavators Market, By Type
Wheeled
Track
Mini Excavators Market, By Operating Weight
Less than 4 tons
4 tons to 10 tons
Mini Excavators Market, By End User
Landscaping and Construction
Agriculture
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Mini Excavators Market, By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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