Mini Excavators Market by End-user Industry (Construction, Agriculture, and Others) - Global Opportunity Analysis and Industry Forecast, 2018–2025. According to the report, the global mini excavator market accounted for $7.23 billion in 2017 and is projected to garner $9.77 billion by 2025, registering a CAGR of 4.4% in the period from 2018 to 2025.
The mini excavators find applications across different end-users, owing to the wide scope of applications in activities, such as landscaping, demolishing, picking, excavating, and others. As a result, the construction industry accounted for a significant share in terms of revenue in the global mini excavators market. However, rising inclination towards original equipment manufacturers (OEMs) and specialized construction equipment is expected to witness more attractive CAGR growth rate of 5.0% during the forecast period.
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The global mini excavator market is segmented based on the end user and geography. On the basis of end users, the market is segmented into construction, agriculture, and others. The construction segment held the largest share in 2017, contributing nearly half of the market. However, the agriculture segment is estimated to manifest the fastest CAGR of 4.3% during the forecast period.
Based on geography, the market is divided into North America, Europe, Asia-Pacific, and Latin America, Middle East and Africa (LAMEA). The Asia-Pacific region dominated the market in terms of revenue in 2017, contributing nearly one-third of the total market and is estimated to register the fastest CAGR of 4.9% during the forecast period. Moreover, Europe is expected to manifest gradual growth with CAGR of 3.9% through 2025.
Key Findings of the Mini Excavators Market:
- In terms of market share, the construction industry generated the maximum revenue in 2017 and is expected to grow at a CAGR of 3.20% during the forecast period.
- The Asia-Pacific region is anticipated to grow at a CAGR of 3.37% from 2018 to 2025 and reach $3.37 billion by 2025.
- The North America region accounted for almost one-fourth of the market share in 2017 and is expected to reach $1.91 billion by 2025 registering a CAGR of 2.2% from 2018 to 2025.
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The report offers an analysis of the major market players such as AB Volvo, Cukurova Ziraat, Hitachi, Ltd., J C Bamford Excavators, Ltd., Komatsu, Ltd., Caterpillar, Inc., Deere & Company, Hyundai Construction Equipment Co., Ltd., Kobe Steel, Ltd., and Takeuchi Mfg. Co., Ltd.
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