Compact Excavator Market – Applications Insights by 2026
Posted by Divakar on April 22nd, 2021
Excavation is among the key industrial processes across multiple sectors, from mining to construction and aerospace. With growing population, developed and developing countries are witnessing maximum utilization of physical spaces. As the spaces become more confined, carrying out excavation processes is becoming a challenging tasks. Compact excavators have emerged as the ideal solution for carrying out digging processes in confined spaces. Over the recent past, the trend of miniaturization has fairly treaded the automotive sector. Manufacturers of industrial vehicles are shifting towards creating compact vehicles. This has furnished the manufacturing compact excavators.
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Compact excavators are witnessing a steady demand pertaining to their role in performing high-level digging operations in cramped up spaces. Manufacturers are working towards improving the maneuverability of compact excavators for creating operational ease. Moreover, new compact excavators entering the market are being equipped with advanced function such as autonomous operability and telematics. In addition, several companies in the global compact excavators market are striving to develop compact excavators with low fuel consumption and reduced noise emissions.
However, limited applications of compact excavators owing to their operating capacities will continue to impede their sales in the near future. A recently published report by Fact.MR projects that the demand for compact excavators will witness a sluggish traction in the upcoming years. The report has assessed that during the forecast period, 2017-2026, the global compact excavators market will expand at a CAGR of 2.7%. By the end of 2026, 173.6 Bn compact excavators will be sold across the globe. Key highlights from the report mentioned below reveal the future prospects of manufacturing and applications of compact excavators.
6 Forecast Highlights on Global Compact Excavators Market
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Companies observed as leaders in the manufacturing of compact excavators have been profiled in the report. These include, Caterpillar, Deere & Company, Hitachi Construction Machinery, Komatsu, Volvo Construction Equip., Doosan Bobcat, Inc., Yanmar Holdings Co. ltd., JCB, Inc., Kubota Corp., Case Construction Equipment, Nagano Industry Co., Ltd., Kobelco Construction Machinery U.S.A Inc., KATO Works, Bharat Earth Movers, Çukurova Ziraat, guangxi LiuGong Machinery, Sany Group, Terex, XCMG, and Zoomlion Heavy Industry Science and Technology.
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About the AuthorDivakar
Joined: January 23rd, 2017
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