Report Ocean Report Ocean Press Release We conducted a survey to understand the actual situation of the mini excavator market in 2022.

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[Report Ocean Press Release] We conducted a survey to understand the actual situation of the mini excavator market in 2022.

Asia Pacific is expected to offer attractive opportunities for mini excavators due to rapid urbanization and development of construction industry.
Survey overview:
Survey period: May 17th to September 12th, 2022
Research agency :
Survey contractor: Report Ocean Co., Ltd.
In-house survey
Survey target: The survey was conducted with 890 leaders from organizations of all sizes around the world.
Number of valid responses: (890 people)
Survey method: Telephone survey of 300 people, Internet survey of 590 people Survey Respondents: The survey was conducted across companies based on revenue. [Image 1d67400-5927-61849ca768b3f67e4395-0.jpg&s3=67400-5927-440f76e170b57f16aad4859bfd9873fe-2700x1800.jpg
Survey results :
Q: Which is leading the mini excavator market, by type?
Based on type, the market is segmented into truck type and wheel type. In 2021, the tracked segment will hold the largest revenue share in the mini excavator market.
The rapid growth of the segment is attributed to the easy operation of these excavators on uneven ground. The unique construction of these excavators allows them to be easily moved over uneven construction sites. These excavators are mostly found in construction projects where there is a large amount of waste. This feature has increased the demand for tracked mini excavators, thus driving the growth of the segment.
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Question: Which Operating Weight Leads the Mini Excavator Market? Based on operating weight, the market is segmented into below 4 tons and 4 tons to 10 tons.
In 2021, the 4- to 10-ton segment recorded a large revenue share in the mini excavator market. Increased segment growth is attributed to the robust build of these machines. Excavators in the 4- to 10-ton category are available in a variety of base configurations, allowing users to choose the machine that best suits their needs for common applications. The 4-10 ton excavator includes a heavy-duty mainframe, fuel-efficient engine, load-sensing hydraulics and a large cab. The main objective of these machines is to offer the customer the best possible value in terms of operator experience, performance, serviceability and affordability. These features are driving the growth of the segment soaring.
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Q: Which end-user segment has the highest share of the mini excavator market? Based on end-users, the market is segmented into landscaping and construction, and agriculture. In 2021, the agricultural sector recorded a sizeable revenue share in the mini excavator market. Growth in this segment is attributed to the increasing use of these mini excavators in the agricultural sector. Mini excavators are used for everything from moving and spearing hay bales to drilling holes for fence posts. Farmers can change attachments as needed and use the equipment for a variety of tasks, such as tilling soil, carrying feed bags, digging trenches, and mowing grass.
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Question: What are the key factors driving the mini excavator market? Cost effective and easily portable:
One of the most common concerns when renting or importing equipment is transportation from one location to another. Large machines are difficult and expensive to transport. Mini excavators, or generally smaller machines, fit in a pickup truck trailer or extended pickup bed, making them easy to transport. A mini excavator works just like a large excavator as its size does not limit its capabilities. The small excavator can rotate 360 ​​degrees, so the user does not have to move the dump truck to match the location of the excavator.
Rapid industrialization across developing countries:
As a result of globalization, emerging countries such as India, Brazil, Mexico and China are seeing rapid industrial expansion. This has prompted international manufacturers to open factories in these countries. Various sectors such as food & beverage, retail,
healthcare, and automotive are focused on developing in emerging countries due to various economic advantages. The growing demand for these items is straining supply chains and logistics systems. As a result, the demand for automated warehouses is increasing across the industry, which is increasing the demand for excavators.
Survey results :
The Asia-Pacific region is expected to offer attractive opportunities for mini excavators due to rapid urbanization and development of the construction industry. Moreover, infrastructure development in South Asia, Middle East and Africa is expected to drive market growth in the coming years. Additionally, growing awareness of the versatile benefits of mini excavators in various industries such as landscaping, construction and agriculture is expected to drive adoption of this equipment in material handling and lifting applications. Moreover, increasing urbanization has boosted the demand for commercial and residential construction projects, thereby positively impacting the growth of the mini excavator market.
In addition, standardization of mini excavators and incorporation of latest battery technology and use of latest cameras and spatial sensors in mini excavators is expected to provide lucrative
opportunities for the mini excavator market.
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