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Mini Excavators Market Latest Advancements and Demand Analysis by 2030 | Players AB Volvo,Komatsu, Ltd.,Caterpillar
Mini Excavators Market
According to the report, the global mini excavators industry was estimated at $6.6 billion in 2020, and is anticipated to hit $10.2 billion by 2030, registering a CAGR of 4.4% from 2021 to 2030.
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The advancements in battery powered mini excavator have significantly increased the usability of mini excavators owing to ease of usability and lower maintenance costs. The battery powered mini excavators are developed to comply with the environment regulations established by the governments across the world. In addition, factor such as incorporating latest technologies that enable a mini excavator to be less polluting while as productive as before, is anticipated to grow the demand in mini excavators market.
The track segment to dominate by 2030-
Based on type, the track segment accounted for around four-fifths of the global mini excavators market share in 2020, and is anticipated to rule the roost by 2030. The same segment would also cite the fastest CAGR of 4.6% throughout the forecast period. This is due to ability of track-based excavators to operate in varying ground conditions.
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The 4 tons to 10 tons segment to maintain the lion's share-
Based on industry vertical, the 4 tons to 10 tons segment held nearly three-fifths of the global mini excavators market revenue in 2020, and is expected to lead the trail by 2030. The same segment would also manifest the fastest CAGR of 4.6% from 2021 to 2030. This is attributed to extensive use of track-based mini excavators in the construction and agricultural industries.
Asia-Pacific garnered the major share in 2020-
Based on region, Asia-Pacific held the major share in 2020, generating nearly half of the global mini excavators market, due to the expanding construction sector. At the same time, the market across LAMEA would grow at the fastest CAGR of 5.8% by 2030, owing to increase in construction activities across the region.
Key players in the industry-
• Doosan Infracore Co. Ltd.
• Deere & Company
• Hitachi, Ltd.
• Takeuchi Mfg. Co., Ltd.
• Hyundai Construction Equipment Co., Ltd.
• J C Bamford Excavators, Ltd.
• Kobe Steel, Ltd.
• AB Volvo
• Komatsu, Ltd.
• Caterpillar, Inc.
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