Mini Excavators Global Market Report 2023

Major players in the mini excavators market are AB Volvo, Caterpillar Inc., Hitachi Ltd., Deere & Company, Hyundai Construction Equipment Co. Ltd., J C Bamford Excavators Ltd., Kobe Steel Ltd., Komatsu Ltd.

New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Mini Excavators Global Market Report 2023" - https://www.reportlinker.com/p06479809/?utm_source=GNW , Takeuchi Mfg. Co. Ltd., Doosan Infracore Co. Ltd., Cukurova Ziraat Endustri Ve Ticaret A S, Bobcat Company, Bharat Earth Movers Limited, Terex Corp., and Guangxi LiuGong Machinery Co. Ltd.The global mini excavator market is expected to grow from $7.42 billion in 2022 to $7.88 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The mini excavator market is expected to reach $9.68 billion in 2027 at a CAGR of 5.3%.The mini excavators market consists of sales of tail swing excavators and zero-tail swing excavators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.A mini excavator refers to a small, tracked, or wheeled construction machine designed for digging and excavation tasks.It has a small cab or operator platform with controls for the operator, a hydraulic system for powering the boom, bucket, and other attachments, and tracks or wheels for mobility.They are used for working on sensitive surfaces or in small areas where an excavator of the usual size wouldn’t fit as they are simple to operate and can transport materials to and from the job site.Asia-Pacific was the largest region in the mini excavator market in 2022.Western Europe is expected to be the fastest-growing region in the forecast period.The regions covered in mini excavators report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of mini excavators are wheeled and track excavators.A wheel is a circular component that rotates around an axle, enabling the movement and transportation of objects or vehicles over a surface.They are available in less than 4 tons and 4 tons to 10 tons operational capacities and are utilized by various end-users such as agriculture, construction, and forestry.The rise in construction activities is expected to propel the growth of the mini excavator market going forward.Construction activities refer to the use of advanced techniques, materials, and technologies in the construction of buildings, infrastructure, and other structures.Mini excavators are used for the debris removal of construction materials and on sensitive surfaces or work in small areas where an excavator of the usual size wouldn’t fit. For instance, in November 2021, according to the Office for National Statistics, a UK-based Statistics Authority, new construction work increased by £15,380 ($16854.48) million in 2021 cumulatively to reach £115,579 (126659.56) million, up 15.3% from the previous year. The annual rise increased by 23.7%, 28.1%, and 37.4%, respectively, in 2021 compared to the previous years due to primarily private housing, private infrastructure, and new public infrastructure projects. Therefore, the rise in construction activities is driving the growth of the mini excavator market.Technological advancements are a key trend gaining popularity in the mini excavator equipment market.Major companies operating in the mini excavator market are adopting new technologies to sustain their position in the market.For instance, in January 2022, Komatsu, a Japan-based construction and mining equipment manufacturing company, launched integrated machine control (iMC) 2.0 for mini excavators. This provides smart controls for mini excavator models PC290LCi-11, PC360LCi-11, and PC390LCi. The main features of iMC 2.0 technology is auto grade assist, which automatically adjusts the digging depth and bucket angle; auto stop control, which automatically stops the machine; facing angle compass, which uses a compass to help operators maintain a consistent facing angle during excavation; and real-time 2D and 3D mapping, which uses GPS and sensors to dig straight in the excavation site.In December 2021, CNH Industrial NV, a UK-based capital goods and construction equipment company acquired 90% of the capital stock of Sampierana S.p.A. for $101.58 million. This acquisition strengthens the construction equipment business of CNH Industrial NV, provided access to market-leading products, distribution network, and manufacturing expertise, as well as a presence in key market categories. Sampierana S.p.A. is an Italy-based company that manufactures compact and mini excavators.The countries covered in the mini excavators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.The mini excavators market research report is one of a series of new reports that provides mini excavators market statistics, including mini excavators industry global market size, regional shares, competitors with a mini excavators market share, detailed mini excavators market segments, market trends, and opportunities, and any further data you may need to thrive in the mini excavator industry. This mini excavators market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: https://www.reportlinker.com/p06479809/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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