Press release
Mini Excavators Market Regulatory Path and Key Companies Projected to Reach $10.2 billion by 2030
Mini Excavators Market
Two primary types of mini excavators commonly observed are wheeled and tracked variants. Among these, the tracked segment emerged as the primary revenue generator in the global mini excavator market in 2020 and is projected to maintain its dominance in the forecast period. This market is analyzed across various industrial sectors including landscaping & construction and agriculture, categorized by size into less than 4 tons and 4 tons to 10 tons.
The market's growth is primarily attributed to the increasing construction activities and the development of mini excavators that offer ease of handling and low operating & maintenance costs. However, the high maintenance costs present a challenge to the growth of the mini excavators market.
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The mini excavators market size was valued at $6.6 billion in 2020, and is estimated to reach $10.2 billion by 2030, growing at a CAGR of 4.4% from 2021 to 2030.
In 2020, Asia Pacific led the global mini excavator market share in terms of revenue, followed by North America and Europe. The Asia-Pacific market witnessed significant growth with a high compound annual growth rate (CAGR) due to the increasing utilization of mini excavators in infrastructure development and building construction activities.
Segmentation Based On:
By Type
• Wheeled
• Track
By Operating Weight
• Less than 4 tons
• 4 tons to 10 tons
By End User
• Landscaping and Construction
• Agriculture
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Key Players:
Key companies profiled in the mini excavators market report include AB Volvo, Caterpillar, Inc., Doosan Infracore Co. Ltd., Deere & Company, Hitachi, Ltd., Hyundai Construction Equipment Co., Ltd., J C Bamford Excavators, Ltd., Kobe Steel, Ltd., Komatsu, Ltd., Takeuchi Mfg. Co., Ltd., and other players.
KEY FINDINGS OF THE STUDY
• The report provides an extensive mini excavators market analysis of the current and emerging mini excavator market trends and dynamics.
• Depending on type, the tracked mini excavators dominated the mini excavator market, in terms of revenue in 2020 and it is projected to grow at a significant CAGR during the forecast period.
• By end user, landscaping & construction segment registered highest revenue in2020.
• Asia-Pacific is anticipated to hold a majority share throughout mini excavators market forecast period.
• The key players within the mini excavators market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the mini excavator industry.
• The report provides an extensive analysis of the current trends and emerging opportunities of the market.
• In-depth mini excavators market trends analysis is conducted by constructing estimations for the key segments between 2021 and 2030.
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Read More Information @
Mining Equipment Market
https://www.alliedmarketresearch.com/mining-equipment-market
Welding Equipment Market
https://www.alliedmarketresearch.com/welding-equipment-market-A37263
Heavy Construction Equipment Market
https://www.alliedmarketresearch.com/heavy-construction-equipment-market
Mobile Crane Market
https://www.alliedmarketresearch.com/mobile-crane-market
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