With uncontrolled population growth, physical spaces have become more confined, and carrying out the digging operations is becoming difficult. Compact excavators have emerged as a key automotive vehicle that can help in excavation of soil and other earthen materials in cramped up spaces. With the trend of miniaturization influencing the global automotive sector, companies are actively partaking in the production of compact excavators. While the conventional excavators have been struggling to reach the narrowed spots between buildings and tight spaces, compact excavators are being predominantly used in such digging purposes.
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Manufacturers of compact excavators are witnessing a considerable rise in demand from individuals as well as local construction companies. New compact excavators entering the market are being designed to meet the earth-moving requirements of the future. The comfort of operating compact excavators is further driving the working professionals in the construction industry towards them. Moreover, the function of changing the attachments on the compact excavators is enabling the process of high-level excavations. Large construction companies are replacing the conventional heavy duty excavators with compact excavators to reap high profit margins from low fuel consumption and lesser carbon emission. Better maneuverability, reduced noise emission, and operational ease are a few other factors driving the demand for compact excavators in the global construction industry.
According to a recently published report by Fact.MR, the global market for compact excavators is likely to expand at a 2.7% CAGR in terms of volume during the forecast period, 2017-2026. The report further projects that by the end of 2026, over 173.6 Bn units of compact excavators will be sold across the globe. The report further reveals that the Asia-Pacific excluding Japan (APEJ) region will represent the largest market for compact excavators through 2026.
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The report has analyzed the global compact excavators market on the basis of their end-use across industrial verticals. The findings reveal that nearly three-fourth share of compact excavators sold in the global market will be used in construction sector. The demand for compact excavators in mining sector is also expected to gain traction towards the latter half of the forecast period. With respect to the operating weights, higher end-use in construction sector will be driving the demand for compact excavators with 4000-10000 lbs. capacity. By the end of 2026, over 80 Bn compact excavators with 4000-10000 lbs. operating weight capacity are expected to be sold globally.
The report has also projected that tail swing compact excavators will be a top-selling product in the global market throughout the forecast period. On the other hand, zero tail swing compact excavators are expected to register a relatively high CAGR of 2.8% in terms of volume. On the basis of motor-type analysis, the demand for compact excavators with electric motors will surge in the latter half of the forecast period. Diesel compact excavators are expected to register largest revenue share of nearly 90% in the global compact excavators market through 2026.
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A detailed study by Fact.MR on the Compact Excavator market provides an in-depth evaluation of various growth drivers, trends, and opportunities, the prevailing regulatory landscape in various regions, and the competitive scenario amidst the COVID-19 pandemic.
A recently published report by Fact.MR projects that the demand for compact excavators will witness a sluggish traction in the upcoming years.
The report has assessed that during the forecast period, 2017-2026, the global compact excavators market will expand at a CAGR of 2.7%.
By the end of 2026, 173.6 Bn compact excavators will be sold across the globe.
The report provides insight into the major drivers and key restraining factors, emerging trends, and sources of new revenue streams over the assessment period.
The in-depth assessment of various growth dynamics of the Compact Excavator market and insights on market estimations help all market participants to stay ahead in the curve of growth with a worldwide economic impact of COVID-19.
The Global Earth Moving Equipment Market Report, with its deep industry analysis of the market, estimates the market size bifurcated into segments and regions.
The Earth Moving Equipment market share and growth, trends estimated at the end of 2027 give a fair idea of the new opportunities coming up in the market.
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These segments are studied in detail, incorporating the market estimates and forecasts at regional and country levels.
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The impact is closely studied in terms of production, import, export, and supply.The report covers the complete competitive landscape of the Worldwide Earth Moving Equipment market with company profiles of key players such as:CaterpillarCNH IndustrialHitachi Construction MachineryHyundai Heavy Industries Co., Ltd.JCBJohn DeereKomatsuLiebherrSany GroupVolvoWant to add more Company Profiles to the Report?
