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.
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 thousand 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.
Construction to Represent Largest End-use Vertical for Compact Excavators
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, about 80 thousand compact excavators with 4000-10000 lbs. operating weight capacity are expected to be sold globally.
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Demand for Electric Compact Excavators to Gain Traction by 2026-end
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.
The report has profiled leading players in the global compact excavators market. Companies namely
- Hitachi Construction Machinery
- Deere & Company
- Volvo Construction Equip.
- Yanmar Holdings Co. Ltd.
- Doosan Bobcat Inc.
- Kubota Corp.
- JCB, Inc.
- Nagano Industry Co., Ltd.
- Case Construction Equipment
- KATO Works
- Kobelco Construction Machinery U.S.A Inc.
- Çukurova Ziraat
- Bharat Earth Movers
- Sany Group
- guangxi LiuGong Machinery
- Zoomlion Heavy Industry Science and Technology
XCMG are observed as the leading manufacturers of compact excavators in the global market. Over the forecast period, most of these players are expected to expand their businesses on the back of product development by integrating advanced excavation technologies and equipment in the vehicles.
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Compact Excavator Market Scope Of The Market
Increasing number of digging operations being carried out individually by people across the globe has spurred the demand for compact excavators.
From agricultural lands and private ranches to urban neighborhoods, compact excavators are being used by individuals, companies and governments to perform proper excavation in confined areas.
With advancements in excavator attachments and growing optimization of physical spaces, companies from the construction industry are actively adopting compact excavators.
In the near future, this shift is anticipated to influence several players in the global automotive sector towards partaking the global manufacturing of compact excavators.
This Fact.MR report discusses key prospects for growth of global compact excavator market during the forecast period, 2017-2026, offering pragmatic insights to lead market players towards devising & implementing informed strategies.
The scope of the report is to analyze the global compact excavators market for the period 2017-2026 and give readers an accurate, unbiased analysis. Compact excavator manufacturers, suppliers, and stakeholders in the overall automotive market can benefit from the insights offered in this report. The comprehensive analysis offered in the report can also be of interest to leading automotive journals and trade magazines.
The report begins with a concise summary of the global compact excavators market. This executive summary sets the tone for the rest of the report, giving users the scope of the report. The executive summary includes important facts and statistics on the global compact excavators market.
The next section is an overview of the global compact excavators market. This includes the introduction to the market and a standard definition of the product – compact excavator.
In this section, year-over-year growth and market value is offered to readers. Year-over-year growth gives readers a broader picture on growth patterns during the forecast period.
The next section of the report offers a thorough description of the latest macroeconomic factors that have a bearing on the global compact excavators market.
Considering the interconnectedness of the compact excavator market to global automotive market and, in general, the global economy, readers will get valuable insights on how international developments impact this market.
In a bid to keep readers up-to-date on the latest developments in the global compact excavators market, the report offers readers a roundup of the latest trends impacting the market.
As the automotive sector is ever-evolving, staying abreast with latest trends and developments is paramount to formulating key business strategies. Information on supply chain, cost structure, pricing analysis, raw material sourcing, and list of distributors are offered to readers in this section.
To break down the broad expanse of global compact excavator market, the report has provided a segmental analysis and forecast. The global compact excavator market has been analyzed on the basis of – product type, operating weight, motor type, end-user vertical, and region.
Through this section, the report offers an in-depth country-wise forecast on every parameter associated with compact excavators.
The concluding section of the report profiles companies operating in the global compact excavators market.
Companies of all sizes, including market leaders, established players, and market entrants are profiled in this section. The competitive intelligence offers information on company overview and other important parameters, such as product offerings and key financials.
Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research.
We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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