Product Code: r7488
“Mini Excavators Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on mini excavators market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for mini excavators ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The mini excavators market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
- 1) By Type: Wheeled; Track
- 2) By Operating Weight: Less Than 4 Tons; 4 Tons To 10 Tons
- 3) By End User Industry: Agriculture; Construction; Forestry
- Companies Mentioned: AB Volvo; Caterpillar Inc.; Hitachi Ltd.; Deere & Company; Hyundai Construction Equipment Co. Ltd.
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
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., 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 from The Business Research Company 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.
Table of Contents
1. Executive Summary
2. Mini Excavators Market Characteristics
3. Mini Excavators Market Trends And Strategies
4. Mini Excavators Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Mini Excavators Market
- 4.2. Ukraine-Russia War Impact On Mini Excavators Market
- 4.3. Impact Of High Inflation On Mini Excavators Market
5. Mini Excavators Market Size And Growth
- 5.1. Global Mini Excavators Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Mini Excavators Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Mini Excavators Market Segmentation
- 6.1. Global Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Wheeled
- Track
- 6.2. Global Mini Excavators Market, Segmentation By Operating Weight, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Less Than 4 Tons
4 Tons To 10 Tons
- 6.3. Global Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Agriculture
- Construction
- Forestry
7. Mini Excavators Market Regional And Country Analysis
- 7.1. Global Mini Excavators Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Mini Excavators Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Mini Excavators Market
- 8.1. Asia-Pacific Mini Excavators Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Mini Excavators Market
- 9.1. China Mini Excavators Market Overview
- 9.2. China Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Mini Excavators Market
- 10.1. India Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Mini Excavators Market
- 11.1. Japan Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Mini Excavators Market
- 12.1. Australia Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Mini Excavators Market
- 13.1. Indonesia Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Mini Excavators Market
- 14.1. South Korea Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Mini Excavators Market
- 15.1. Western Europe Mini Excavators Market Overview
- 15.2. Western Europe Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Mini Excavators Market
- 16.1. UK Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Mini Excavators Market
- 17.1. Germany Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Mini Excavators Market
- 18.1. France Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Mini Excavators Market
- 19.1. Eastern Europe Mini Excavators Market Overview
- 19.2. Eastern Europe Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Mini Excavators Market
- 20.1. Russia Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Mini Excavators Market
- 21.1. North America Mini Excavators Market Overview
- 21.2. North America Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Mini Excavators Market
- 22.1. USA Mini Excavators Market Overview
- 22.2. USA Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Mini Excavators Market
- 23.1. South America Mini Excavators Market Overview
- 23.2. South America Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Mini Excavators Market
- 24.1. Brazil Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Mini Excavators Market
- 25.1. Middle East Mini Excavators Market Overview
- 25.2. Middle East Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Mini Excavators Market
- 26.1. Africa Mini Excavators Market Overview
- 26.2. Africa Mini Excavators Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Mini Excavators Market, Segmentation By End User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Mini Excavators Market Competitive Landscape And Company Profiles
- 27.1. Mini Excavators Market Competitive Landscape
- 27.2. Mini Excavators Market Company Profiles
- 27.2.1. AB Volvo
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. Caterpillar Inc.
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Hitachi Ltd.
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Deere & Company
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Hyundai Construction Equipment Co. Ltd.
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Mini Excavators Market
29. Mini Excavators Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer