Caterpillar Inc., Hitachi Construction Machinery Co., Ltd., AB Volvo, JCB India Limited, Kobelco Construction Machinery Co., Ltd., and Komatsu Ltd., among others, are the major players in the global mini excavator market.
In the forecast period of 2022-2027, the global mini excavator market is expected to grow at a CAGR of 4.2%. As per the analysis by Expert Market Research, the global mini excavator market is being driven by the growing demand for infrastructural development programs and construction activities around the world.
The various applications of the mini excavator in the installation, maintenance, and restoration of gas pipelines, and electric transmission networks is expected to boost the growth of the market. The technological advancements in this area are also expected to help the market growth in the forecast period. The mini excavator is also used in railway maintenance and irrigational agricultural activities.
The increasing disposable incomes and growth of infrastructure in North America and Europe are helping the market growth of this industry. The regions of the Middle East and Africa, which have witnessed a rise in immigration, resulting in rapid urbanisation and high demand for residential projects, have bolstered the market growth. The increase in residential and non-residential projects in countries like India and China has significantly facilitated the growth of the mini excavator market in these regions.
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|Headquarters:||Illinois, United States|
The company is the globally leading manufacturer of construction and mining equipment, industrial gas turbines, diesel and natural gas engines, and diesel-electric locomotives. The company operates primarily through three industries: construction, resource, energy, and transportation. Caterpillar also provides financial services through its financial products segment. The company has sales and revenue of USD 51.0 billion in 2020.
Hitachi is a leader in construction machinery and its major product line is hydraulic excavators. The company manufactures many models, from mini excavators to ultra large excavators. This company also markets off-road dump trucks, wheel loaders and other products produced by HCM group or other major manufacturers. The company had consolidated revenues totalled 813 billion yen in the fiscal 2020 (ended March 31, 2021).
Volvo is one of the globally leading manufacturers of trucks, buses, construction equipment and industrial engines. The company also provides finance and service solutions. It has its presence in almost all industries across the globe. The Volvo Group, with its headquarters in Gothenburg, employs about 100,000 people, has production facilities in 18 countries and sells its products in more than 190 markets.
JCB is a leading manufacturer of construction equipment in India. The company deals with the manufacture of a vast range of world-class equipment for many countries globally through its five state-of-the-art factories. The products made by this company are exported to over 65 countries around the world. The factory at Delhi-NCR, which is the world’s largest factory for Backhoe Loaders, is also the headquarters for JCB in India.
|Headquarters:||Georgia, United States|
This company deals with the manufacturing, research and development, and marketing of a vast range of crawler excavators. The company is known for its premium quality of excavators and range of features such as auto recycling, zero tail swing, noise and dust reduction systems, reduction of pressure loss, and superior fuel efficiency. They also have wide range of models including compact, standard, mass excavation and demolition models.
*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.