LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global mini excavators market since 2017 and the market is poised to grow by USD 4.89 billion during 2020-2024 at a CAGR of over 9% during the forecast period. Request Free Sample Pages
Read the 150-page research report with TOC on " Mini Excavators Market Analysis Report by Geography (APAC, Europe, MEA, North America, and South America), by End-user (Construction, Utility, and Agriculture and forestry), and Segment Forecasts, 2020-2024".
Expansion of application areas of mini excavators and the emphasis on the development of electric excavators is anticipated to boost the growth of the mini excavators market.
Mini excavators are increasingly being deployed in various industries due to their ability to work in confined spaces. Because of their versatility, they are used for applications such as material handling, forestry, agriculture, log splitting, and railway maintenance because they come with different types of attachments such as buckets, augers, rakes, mowers, mulchers, rippers, and thumbs and grapples. Several manufacturers are introducing agriculture-specific models of mini excavators. For instance, CNH launched seven models of ROPS mini excavator in October 2017. Thus, the expansion of application areas is expected to drive market growth during the forecast period.
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Major Five Mini Excavators Market Companies:
Caterpillar Inc. is headquartered in the US and operates the business under various segments such as Construction Industries, Resource Industries, Energy & Transportation, Financial Products Segment, and All Other Segments. The company offers an extensive line of mini hydraulic excavators.
CNH Industrial NV
CNH Industrial NV is headquartered in the UK and offers products through the following business units: Agricultural Equipment, Construction Equipment, Commercial Vehicles, Powertrain, and Financial Services. The company manufactures and sells mini excavators under the brand names, CASE and New Holland.
Doosan Corp. is headquartered in South Korea and operates under various business segments, namely Electro-Materials BG, Mottrol BG, Industrial Vehicle BG, Information and Communication BU, DHC, DI, DEC, DE, and Others. The company manufactures and sells mini excavators under the brand names, Bobcat and Doosan.
Hitachi Construction Machinery Co. Ltd.
Hitachi Construction Machinery Co. Ltd. is headquartered in Japan and offers products through the following business segments: Construction Machinery Business and Solution Business. The company provides 23 models of mini excavators.
J.C. Bamford Excavators Ltd.
J.C. Bamford Excavators Ltd. is headquartered in the UK and offers mini excavators, ranging from 0.8 to 10 tons.
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Mini Excavators End-User Outlook (Revenue, USD Million, 2020-2024)
- Agriculture and forestry
Mini Excavators Regional Outlook (Revenue, USD Million, 2020-2024)
- North America
- South America
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