Mini Excavators Market Growth Opportunities by 2030 | At a CAGR of 4.4%

Mini Excavators Market Expected to Reach $10.2 Billion by 2030

WILMINGTON, DELAWARE, UNITED STATES, May 7, 2024 /EINPresswire.com/ -- The introduction of battery-powered mini excavators has notably enhanced the versatility of these machines, offering ease of use and reduced maintenance costs. Battery-powered variants are designed to comply with environmental regulations set by governments worldwide. Furthermore, the integration of the latest technologies to reduce pollution while maintaining productivity levels is expected to drive the demand for mini excavators in the 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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Market Outlook:

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.

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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Driving Factors:
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.

Top 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.

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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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