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DUBLIN--(BUSINESS WIRE)--Sep 21, 2022--
The "Mini Excavators Market By Type, By Operating Weight, By End User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global mini excavator market size was valued at $ 6,550.50 million in 2020, and is projected to reach $ 10,243.30 million by 2030, registering a CAGR of 4.4% % from 2021 to 2030.
Mini excavator is construction equipment that provides assistance in performing the tasks of excavating, landscaping, and picking & placing, across construction, mining, and industrial sites. This equipment is compact and has robust performance, and is available in relatively low power ratings compared to heavy excavators. In addition, availability of advanced engines and superior power capabilities has led to use of mini excavators, which can perform optimally in small and narrow spaces. Moreover, mini excavators are track mounted and wheel mounted, providing it a greater maneuverability.
Rise in popularity of robust and compact construction equipment is the major factor that drives growth of the mini excavator market. In addition, versatile benefits associated with mini excavators such as durability, small size, alternative to heavy construction equipment, and superior maneuverability are anticipated to fuel the demand for mini excavators during the forecast period. In addition, major players are focused on developing fully electric mini excavators for agricultural, landscaping & construction, and other applications, which, in turn, is anticipated to propel growth in the mini excavators market.
For instance, in December 2020, AB Volvo launched 'VOLVO ECR25 ELECTRIC'. Further, significant number of ongoing construction and infrastructure development projects, especially in Asia-Pacific and LAMEA are expected to drive growth in the mini excavators market during the forecast period.
The mini excavator market is segmented on the basis of type, size, end user, and region. By type, the market is categorized into wheeled and tracked mini excavator. On the basis of size, it is categorized into less than 4 tons and 4 tons to 10 tons. On the basis on end user, the market is categorized into landscaping & construction and agriculture. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players that operate in the global market have adopted key strategies such as product launch, product development, and business expansion to strengthen their market outreach and sustain the stiff competition in the market.
Key Market Players
Key Benefits For Stakeholders
Key Market Segments
By Type
By Operating Weight
By End User
By Region
For more information about this report visit https://www.researchandmarkets.com/r/gh9uoa
View source version on businesswire.com:https://www.businesswire.com/news/home/20220921005784/en/
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KEYWORD:
INDUSTRY KEYWORD: AUTOMOTIVE MANUFACTURING MANUFACTURING AUTOMOTIVE OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE MACHINERY CONSTRUCTION & PROPERTY MINING/MINERALS AGRICULTURE NATURAL RESOURCES OTHER AUTOMOTIVE OTHER MANUFACTURING LANDSCAPE
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/21/2022 11:27 AM/DISC: 09/21/2022 11:27 AM
http://www.businesswire.com/news/home/20220921005784/en