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Mini Excavators market Growth Analysis, Future Trends, Forecasts To 2030
WILMINGTON, DE, UNITED STATES, October 14, 2024 /EINPresswire / -- Determinants of growth-
Rise in the
construction sector and growing demand for mini excavators in the vertical drive the growth of the global mini excavators market . At the same time, availability of a wide range of mini excavators in various lifting capacities makes it suitable for use in various small-scale applications, which in turn has supplemented the growth yet more. Moreover, development of advanced battery technologies is expected to create lucrative opportunities in the industry.
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 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.
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.
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Top Players:
Key companies profiled in the mini excavator 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 Benefits For Stakeholders:
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the mini excavators market analysis from 2020 to 2030 to identify the prevailing mini excavators market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the mini excavators market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
The global mini excavators market forecast analysis from 2021 to 2030 is included in this report.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.