Mini Excavator Market Scope
A mini or compact excavator is a tracked or wheeled vehicle with an approximate operating weight from 0.7 to 8.5 tons. It generally comprises a standard backfill blade and features independent boom swing. Mini excavators are widely used in construction & mining, and agriculture among other industries. Nowadays, most of the foremost vendors are developing lightweight mini excavators. Moreover, owing to environmental concerns, some of the leading players are focusing on the production of all-electric mini excavators to reduce CO2 emissions. Exponential growth in the construction industry is one of the key driver contributing to the growth of the market.
According to AMA, the Global Mini Excavator market is expected to see growth rate of 4.5%The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States and Japanese Vendors will contribute to the maximum growth of Global Mini Excavator market throughout the predicted period.
AB Volvo (Sweden), Caterpillar, Inc. (United States), Cukurova Ziraat (Turkey), Sany Group (China), Deere & Company (United States), Hitachi, Ltd. (Japan), Hyundai Construction Equipment Co., Ltd. (South Korea), J C Bamford Excavators, Ltd. (United Kingdom), Kobelco (Japan), Komatsu, Ltd. (Japan) and Takeuchi Mfg. Co., Ltd. (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are AIRMAN HOKUETSU Industries CO., LTD. (Japan), BOBCAT Company (United States), CNH Industrial America LLC (United States), Kubota Construction Machinery (Japan), Mecalac (France) and Dingo (Australia).
Segmentation Overview
The study have segmented the market of Global Mini Excavator market by Type (Crawler and Rubber-Tired), by Application (Construction & Mining, Agriculture & Forestry and Others) and Region with country level break-up.
On the basis of geography, the market of Mini Excavator has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
The Rising Popularity of Light Weight and Fully Electric Mini Excavators
Market Growth Drivers:
According to Global Construction Perspectives and Oxford Economics, Global construction market to grow USD 8 trillion by 2030: driven by China, US and India. This immense growth is expected to open lucrative opportunities for the mini excavator vendors during the projected period. Moreover, urban redevelopment and urban MSRT development projects will generate substantial demand for mini excavators.
Challenges:
The Market is Highly Competitive
Restraints:
Lack of Trained Technicians and Operators
Opportunities:
Significant Opportunities from China and India
Market Leaders and their Expansionary Development Strategies
On 5 April 2019, KOBELCO Construction Machinery Europe B.V. has unveiled its first mini excavator (SK17SR) fitted with an all-electric drive at bauma 2019 in Munich from 8 to 14 April. In its role as systems integrator, DEUTZ AG is drawing on its modular product kit to supply the innovative drive system, including lithium-ion battery, for the 1.7 ton machine. and In 2019, Komatsu Ltd. has developed an electric mini excavator, designed to set the course for next-generation construction equipment, and is going to unveil it at bauma 2019, a leading international trade fair for construction equipment to be held in Munich, Germany from April 8 through 14.
In February 2024 JCB has unveiled two new additions to its extensive machine range. The new models are the 26 C-1 mini excavator and the 3TE dumper. The 26 C-1 is a 2.5-tonne mini excavator which fills a weight gap in the JCB machine range. The unit uses a three-cylinder KSD engine from Kohler.
Analyst View
“In Europe, sales of mini excavators were said to make up 38% of the almost 180,000 units of construction equipment purchased in 2018, making them the single most popular item across all equipment types”
Key Target Audience
Mini Excavator Manufacturers, Mini Excavator Sub Component Manufacturers, Mini Excavator Traders/Distributors, Mini Excavator Importer/Exporter, Investors, Regulatory & Government Bodies, End Users and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.