Mini Excavators Market is Flouring Due to its Rapid Demand in Construction Industry

According to a new report published by Allied Market Research titled, Mini Excavators Market by End-user Industry: Global Opportunity Analysis and Industry Forecast, 2018-2025," the mini excavators market size was valued at $7.23 billion in 2017 and is expected to reach $9.77 billion by 2025, registering a CAGR of 4.4% from 2018 to 2025. The construction segment dominated the mini excavators market, accounting for more than one-third share of the total revenue by the end-user industry.

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The mini excavators are compact and robust construction equipment, which have significant scope of application across different end-users. Further, the advancement of technology and engineering capabilities has increased their performance and has provided alternatives to heavier construction equipment. Moreover, the growing popularity of compact construction equipment is expected to provide profitable business opportunities for the market players during the forecast period. In addition, the significant number of ongoing construction and infrastructure development projects is also projected to fuel the demand for the mini excavators market throughout the forecast period.

The mini excavators find applications across different end-users, owing to the wide scope of applications in activities, such as landscaping, demolishing, picking, excavating, and others. As a result, the construction industry accounted for a significant share in terms of revenue in the global mini excavators market. However, rising inclination towards original equipment manufacturers (OEMs) and specialized construction equipment is expected to witness more attractive CAGR growth rate of 5.0% during the forecast period.

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By region, the Asia-Pacific region accounted for the major market share in the global market, owing to rapid urbanization and infrastructure development projects in the region. As a result, the Asia-Pacific region is expected to maintain its leading market share during the forecast period with a growth rate of 4.9% from 2018 to 2015. Also, Europe and North America together accounted for more than half of the mini excavators, owing to popularity of compact and robust construction equipment.

The growing construction industry is one of the major indicators that drives the growth of mini excavators market during the forecast period. Also, the versatile benefits of mini excavators, such as compact size, durability, availability of various power output ranges, superior maneuverability, and others, are also expected to fuel the demand for mini excavators throughout the forecast period. Moreover, the demand for robust, effective, and mobile construction equipment over heavy construction equipment is also projected to boost the market growth of mini excavators market, thus, providing lucrative opportunities for the market players.

The mini excavators have significant application for tasks, such as landscaping, materials handling, demolishing, forestry working, snow removing, constructing, and others. Thus, based on end-user industry, the market is broadly classified into construction, agriculture, and others. In addition, to gain a diverse insight, the market is analysed across major regions namely, North America, Europe, Asia-Pacific, and LAMEA.

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The major players in the global mini excavators market have been focusing on new product development and business expansion strategies to gain a strong foothold in the market. The key players profiled in the report include AB Volvo, Caterpillar, Inc., ukurova Ziraat, Deere & Company, Hitachi, Ltd., Hyundai Construction Equipment, Co., Ltd., J C Bamford Excavators, Ltd., Kobe Steel, Ltd., Komatsu, Ltd., and Takeuchi Mfg. Co., Ltd.

Key Benefits:

• The report provides an extensive analysis of the current and emerging trends and dynamics in the global mini excavators market.
• An in-depth analysis is presented by constructing market estimations for the key market segments between 2017 and 2025.
• An extensive analysis is arrived at by following key product positioning and monitoring the top competitors within the market framework.
• A comprehensive analysis of all regions is provided to determine the prevailing opportunities in these geographies.
• The key market players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the mini excavators market.

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