Mini Excavators Market to Garner $11.87 Billion by 2027: Allied Market Research

Rapid urbanization & industrialization, growth in global infrastructure & developmental projects, and benefits associated with mini excavators drive the growth of the global mini excavators market. The market across Asia-Pacific is anticipated to portray the highest CAGR of 6.8% during the forecast period. The prolonged lockdown has affected international trade and ceased construction processes.


Portland, OR, Nov. 12, 2020 (GLOBE NEWSWIRE) -- As per the report, the global mini excavators market was pegged at $9.00 billion, and is estimated to reach $11.87 billion by 2027, registering at a CAGR of 5.4% from 2020 to 2027.

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.

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.

Get detailed COVID-19 impact analysis on the Mini Excavators Market: https://www.alliedmarketresearch.com/request-for-customization/3305?reqfor=covid

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.

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.

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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.

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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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

 

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