Mini Excavators Market Expected to Reach $244,032 Million, Globally, By Top Key Players: AB Volvo, Caterpillar, Inc., ukurova Ziraat, Deere & Company, Hitachi, Ltd., Hyundai Construction Equipment, Co., Ltd., J C Bamford Excavators, Ltd., Kobe Steel, Ltd.

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.

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.

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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.

Analyst Review:

The mini excavators constitute construction equipment that is compact in size, durable, and capable of delivering performance that was earlier suited for heavy equipment or labor-intensive work. Also, the increasing demand for easy-to-relocate and efficient construction equipment, which has superior maneuverability, is expected further fuel the demand for the mini excavators market during the forecast period. The large scope of application of mini excavators in excavating, landscaping, picking and placing, and demolishing activities has resulted in its adoption across different end users. In addition, the advancement in design and technology has yielded equipment with superior performance with compact sizes, which offers effective alternative solutions for heavy construction equipment.

Factors, such as rapid urbanization and infrastructure development, among emerging economies, such as Asia and Africa, are expected to boost the market growth of mini excavators market during the forecast period. Moreover, the rising cost of labors and increasing demand for effective and robust construction equipment are projected to surge the demand for the mini excavators market among developed economies, such as North America and Europe.

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