Mini excavators are construction machines with a dipper, boom, or bucket mounted on a mobile platform, depending on the application. These excavators help in landscaping, excavation, demolition, picking and placing, material handling, and construction projects, among other things.
New York, June 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Mini Excavators Market Size, Share & Industry Trends Analysis Report By Type, By Operating Weight, By End User, By Regional Outlook and Forecast, 2022 – 2028" - https://www.reportlinker.com/p06289272/?utm_source=GNW
Furthermore, a tiny excavator assists in the fulfillment of labor-intensive activities or works previously completed with large construction equipment.
Excavators are mostly utilized in the construction and agriculture industries for a variety of purposes. A huge excavator, on the other hand, is not necessarily the best tool for small-scale work. These jobs may be completed more easily and at a lower cost with mini excavators, which are expected to increase the demand for mini excavators. Additionally, the worldwide mini excavator market is expected to grow due to increased demand for mini excavators as the construction sector grows. The rise in the global population has substantially increased the demand in the agriculture sector, positively impacting mini excavators market growth. Furthermore, because mini excavators come in a variety of lifting capacities, they are appropriate for a variety of small-scale applications as well. Mini excavators are widely used for excavating small trenches and pits, as well as handling lower loads and maintaining land surfaces. The advancement of improved battery technologies has made acquiring and operating a micro excavator easier. Moreover, the integration of cameras, as well as other spatial sensors, has fueled the creation of a new generation of small excavators that are easier to operate.
The development of high-performance battery-powered mini excavators has been a priority for major participants in the mini excavators sector. For example, Hitachi Construction Machinery Tierra, a leading producer of construction machinery, debuted a battery-powered 5-tonne class ’ZX55U-6EB’ small excavator in Europe in April 2022. It is based on a tiny excavator with a short rear-end swing design that enables efficient operation even in tight locations. When compared to diesel-powered excavators, this machine’s owners can expect lower maintenance expenses and downtime. Operator-friendly mini excavators are available from key players. These excavators contain features that allow the operator to remain comfortable in the excavators’ cabin.
The COVID-19 pandemic had a major impact on the worldwide economy as it devastated several businesses all over the world. The novel coronavirus has rapidly spread throughout multiple countries and regions, wreaking havoc on people’s lives and the community as a whole. Due to the rapid diffusion of the pandemic, governments across various countries were compelled to impose a lockdown across their nations. As a result, manufacturing facilities of various goods were temporarily closed. Moreover, due to stringent government-imposed travel restrictions, the worldwide supply chain was also disrupted.
Market Growth Factors
Cost-efficient and easily transportable
One of the most common concerns when renting or importing equipment is transporting it from one location to another. Big machinery is more difficult, as well as more expensive, to transport. Mini excavators, or smaller machines in general, are easier to transport since they fit into the trailer or extended pickup beds of a pickup truck. Mini excavators work in the same way as larger excavators as their functionality is not limited by their size. Tiny excavators can still swing 360 degrees, so the user would not have to relocate dump trucks to accommodate the excavator’s location.
Rapid industrialization across developing countries
As a result of globalization, emerging economies, such as India, Brazil, Mexico, and China, have witnessed rapid industrial expansion. This has prompted international manufacturers to open factories in these countries. Various sectors like food and beverage, retail, healthcare, and automotive are focusing on developing in emerging economies due to various economic advantages. The rising demand for these items is putting strain on their supply chain and logistics systems. As a result, demand for automated warehouses is increasing across industries, resulting in an increase in demand for excavators.
Market Restraining Factors
Lack of adequate knowledge about the operation of these machines
A lack of crane operator training is one of the major factors that are causing a bulk of job-site injuries, fatalities, and accidents. Because mini excavators may accidentally come into contact with electric lines, clearances from the wires as well as verified sources, such as government electrical safety instructions, are required. Technological advancements are being impeded due to a lack of understanding of load signaling systems, leading to an increase in accidents that are being caused by falling loads. To maximize the productivity of mini excavators, companies must devote more time and investment to the proper training of their employees.
Based on Type, the market is segmented into Track and Wheeled. In 2021, the tracked segment acquired the largest revenue share of the mini excavators market. The rapidly rising growth of the segment is attributed to the feature that these excavators can be easily operated on uneven ground. Due to the distinct build of these excavators, they can easily move on uneven construction sites. These excavators are majorly found in construction projects where there are loads of waste. Due to this function, the demand for tracked mini excavators is increasing and hence, the growth of the segment is rising.
Operating Weight Outlook
Based on Operating Weight, the market is segmented into Less than 4 tons, and 4 tons to 10 tons. In 2021, the 4 to 10 tons segment recorded a substantial revenue share of the mini excavators market. The increasing growth of the segment is attributed to the robust build of these machines. 4 to 10 tons category excavator machines come in a variety of basic configurations, allowing users to pick the machine that best suits their needs in common applications. The 4 to 10-ton excavators include heavy-duty mainframes, fuel-efficient engines, load-sensing hydraulics, and large cabs. The main purpose of these machines is to provide the best possible value to customers in terms of operator experience, performance, serviceability, and affordability. These features are surging the growth of the segment.
End User Outlook
Based on End User, the market is segmented into Landscaping & Construction and Agriculture. In 2021, the construction and agriculture segment registered a substantial revenue share of the mini excavators market. The rising growth of the segment is attributed to the increasing utilization of these mini excavators in the agriculture sector. Mini excavators are used for everything on the farm, from moving and spearing hay bales to drilling holes for fence posts. Farmers may change out attachments as needed and utilize the equipment for a variety of jobs, including tilling soil, hauling feed bags, digging ditches, and cutting grass.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2021, Asia Pacific accounted for the highest revenue share of the mini excavators market. This is due to an increase in government and non-government spending on construction projects. In addition, the increased investments in infrastructure development, as well as the growing industrialization in the region, are anticipated to drive the growth of the regional market. In growing countries like China and India, infrastructure and road construction are expected to accelerate.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Volvo Group, Kobe Steel, Ltd., Hyundai Construction Equipment Co., Ltd., Caterpillar, Inc., Komatsu Ltd., Deere & Company, Hitachi, Ltd., J C Bamford Excavators Ltd., and Takeuchi Mfg. Co., Ltd.
Strategies Deployed in Mini Excavators Market
May-2022: JCB India, a subsidiary of J C Bamford Excavators Ltd., introduced JCB 19C-1E an mini fully Electric Excavator, is a zero-emission machine and has four lithium-ion batteries that power the machine for a full day on a single charge. With a significant focus on safety and productivity, JCB’s 2GO system safely isolates all controls as a secondary safety system. It’s auto-idle and auto kick-up redistribute power to preserve battery life.
May-2022: Komatsu has launched its first electric micro excavator model, PC01E-1 excavator, the new machine is an electric version of Komatsu’s conventionally powered PC01 machine. As the batteries are swappable, customers can continue work simply by exchanging them, the addition of the new electric motor also enables the PC01E-1 to deliver high performance and achieve “more excavation than the conventional model in low revolutions”.
Mar-2022: Volvo Construction equipment, subsidiary of Volvo Group, launched The ECR25 electric excavator. Increasingly, authorities are recognizing the need to work more sustainably and embrace new technologies that will allow us to tackle our global climate change crisis with equipment that provides less noise, fewer vibrations and no exhaust fumes. We are proud to be leading the charge by being the first major manufacturer to offer electric solutions to a region that is so significant to the global construction equipment market.
Feb-2022: Takeuchi Introduces New TB20e Electric Compact Excavator, when fully charged, the TB20e offers a continuous working time ranging from four hours to eight hours, depending on the application and environment. The excavator has an operating weight of 4,255 lbs., a bucket capacity of 1.34 cubic feet and a primary auxiliary flow of 9.0 gpm. Maximum reach is 13 ft. 4 in. and maximum digging depth is 7 ft. 10.1 in.
Nov-2021: Caterpillar is debuting the new 4-tonne, Cat 304, and 5-tonne, Cat 305 CR, Next Generation Mini Hydraulic Excavators. Built with a new reduced radius design, the 304 features a narrow, 1700-mm (66.9-in) track width, 254 mm (10 in) slimmer than the 304 E2, for more versatility and access to confined spaces. While narrower, the new 304 design increases performance, balance and stability of the 4-tonne class model. The new engine on the 5-tonne class Cat 305 CR Excavator delivers nearly 9% greater power to increase machine performance, it also offers 140 mm (5.6 in) deeper dig depths than the 305 E2, giving it more application flexibility. Its compact radius swing reduces overhang when working to the side, while its 1980-mm (78-in) track width and new extra counterweight option help to optimize stability and lift performance in confined spaces.
Sep-2021: Engcon and Takeuchi Expand Their Collaboration, for Tiltrotators. Engcon’s tiltrotator, intelligent control systems and automatic machine couplers can increase the flexibility, efficiency and safety of smaller excavators at a time where there is great interest in these products.
Aug-2021: Volvo Construction Equipment, subsidiary of Volvo Group, launched a new range of pavers, compactors, wheel loaders and pneumatic rollers for the Indian market. 1-SD110C Compactor and double drum DD90C & DD100C Compactors. 2- PT220C pneumatic roller. 3- L90H and L120H Wheel Loaders.
Mar-2021: Volvo Construction Equipment, subsidiary of Volvo Group, launched two new short-swing models: the ECR50 and ECR58. The zero-tail-swing radius of the ECR50 and short-swing radius of the ECR58 enable the excavators to work in confined spaces while reducing the risk of damage. The ECR50 features reinforced digging equipment, undercarriage and hoods for increased durability, the next-generation ECR58 has a 10% increased lifting capacity compared to the D-series. It also has 5% greater bucket breakout force and 7% greater arm tear-out force, allowing customers to handle bigger attachments with ease, even in challenging ground conditions.
Jan-2021: Komatsu and Proterra announced a collaboration agreement on battery systems for electric construction equipment. Komatsu will utilize Proterra’s high-performance battery systems for the development of a proof-of-concept electric excavator in 2021 before expected commercial production in 2023 to 2024. The Proterra battery system powering the electric excavator will feature high energy density and fast charging technology.
Jul-2020: Kobelco Construction Equipment India, subsidiary of Kobe Steel, Ltd., announced a strategic partnership with iQuippo, a digital marketplace for infrastructure equipment, this new agreement with iQuippo is made in this direction to reach out to all potential customers across India and offer our product solutions along with the funding options provided by iQuippo through their digital platform. In this new era of advanced communication, it is very essential to use technology to reach out to customers and create brand awareness.
Scope of the Study
Market Segments covered in the Report:
By Operating Weight
• Less than 4 tons
• and 4 tons to 10 tons
By End User
• Landscaping & Construction
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Volvo Group
• Kobe Steel, Ltd.
• Hyundai Construction Equipment Co., Ltd.
• Caterpillar, Inc.
• Komatsu Ltd.
• Deere & Company
• Hitachi, Ltd.
• J C Bamford Excavators Ltd.
• Takeuchi Mfg. Co., Ltd.
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