WASHINGTON, Nov. 30, 2022 (GLOBE NEWSWIRE) -- The Global Amphibious Excavator Market is valued at USD 5.8 Billion in 2021 and is projected to reach a value of USD 10.5 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 10.5% over the forecast period 2022-2028.
One of the most significant economic areas is the amphibious excavator business, and consistent expansion is projected. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses current trends and anticipated changes to provide a full insight into the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers and their current situation and future prospects. It also details the global drivers of the demand for amphibious excavators, including rising investment requirements, developing technology, and new laws.
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Amphibious Excavator Market Overview
According to Vantage Market Research, some key factors anticipated accelerating the amphibious excavator market growth over the forecast period. The primary factor propelling the growth of the amphibious excavators market is the necessity for more of these machines in the mining and construction sectors. Additionally, the market will expand due to the growth of marine trade, the construction of new seaports, and the refurbishment of aging seaports.
We forecast that the 20-30 category in amphibious excavator market sales will account for more than 30% of total sales by 2028. Contractors typically utilize these in large-scale projects like building highways or dams, where dredging tasks must be conducted with levee construction activities.
Asia Pacific dominates the amphibious excavator market, and this trend of dominance will continue throughout the projection period. Increasing global population, rapid organization, and industrialization are among the factors that will drive market expansion in this area over the forecast period.
Top Players in the Global Amphibious Excavator Market
- EIK International Corporation (US)
- Ultratrex Machinery SDN. BHD. (Malaysia)
- Wetland Equipment Company (US)
- TSBC Engineering SDN BHD (Malaysia)
- Doosan Infracore's Construction Equipment (South Korea)
- Marsh Buggies Incorporated (US)
- Hitachi Construction Machinery Co. Ltd. (Japan)
- Gulf Coast Specialty Energy Services (US)
- RemuOy (Finland)
- Waterking BV (Netherlands)
Amphibious Excavator Market Dynamics
Increase in River Dredging in Shallow Waters to Fuel the Market:
Dredging removes silt from the bottom of a body of water and dumps it elsewhere. The demand for dredging is rising as waterborne trade in shallow seas expands globally. Dredging is necessary to allow for simple transit navigation through the water body. Around the world, amphibious excavators are frequently used for dredging operations. Thus, increased dredging operations worldwide fuel the demand for amphibious excavators.
Rising Construction Activities to Boost the Market:
Around the world, there is a sizable amount of spending on goods and services related to the construction sector; it is estimated that this amount totals US$ 10.0 trillion annually. Increased commercial and industrial construction is driving the demand for amphibious excavators. Industrial activity is increasing in emerging economies, driving demand for amphibious excavators by boosting residential and commercial construction.
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Top Trends in Global Amphibious excavator Market
- One trend that Vantage Market Research (VMR) expects to see in the Amphibious excavator industry is the escalating acceptance of rental services. Renting amphibious excavators rather than buying them outright is becoming more popular. This is because not all construction companies can afford to buy these expensive machines.
- Another trend that VMR predicts will continue in the amphibious excavator industry is the advancement of technology. In amphibious excavators, the use of cutting-edge technologies like GPS, remote controls, and others is growing.
Top Report Findings
- Based on weight (tons), the majority of the amphibious excavator market's revenue is controlled by the 20 – 30 category because it is frequently used in infrastructure initiatives like road building and urban development.
- Based on application, the ROPP/BPV category dominated the amphibious excavator market, and this trend is anticipated to continue. It is common practise to remove debris from waterways by dredging and deepening rivers and other water ways.
Top 10 Players Generates More Than 45% of the Global Amphibious excavator Market Revenue
The report also found that the largest players in the Amphibious excavator market are technology providers such as EIK International Corporation (US), Ultratrex Machinery SDN. BHD. (Malaysia), Wetland Equipment Company (US), TSBC Engineering SDN BHD (Malaysia) and oDoosanInfracore's Construction Equipment (South Korea). These companies are expected to benefit from increased demand for their products and services and growing investments in new products. Other major players include EIK International Corporation (US), Ultratrex Machinery SDN. BHD. (Malaysia), Wetland Equipment Company (US), TSBC Engineering SDN BHD (Malaysia), Doosan Infracore's Construction Equipment (South Korea), Marsh Buggies Incorporated (US), Hitachi Construction Machinery Co. Ltd. (Japan), Gulf Coast Specialty Energy Services (US), RemuOy (Finland), Waterking BV (Netherlands) and others. As per the latest report published by Vantage Market Research, top 10 companies are responsible for generating more than 45% of market revenue.
Dredging & Deepening of River & Waterways Category in Amphibious excavator Market to Generate Over 30% Revenue
An amphibious excavator is an expensive investment. Vantage Market Research has analyzed the market for Amphibious excavators to understand its current state and potential future growth factors. For better understanding, based on application amphibious excavator market is divided into dredging & deepening of rivers & waterways, oil & gas piping installation, highway construction, landscaping and other applications.
During the forecast period, the market for an amphibious excavator is anticipated to experience the highest CAGR for dredging & deepening of river & waterways category. Amphibious excavators are utilized to excavate sediments and other comparable materials during dredging operations over water bodies. The equipment typically has auxiliary motors that can be activated when the machine enters a body of water.
On the other hand, the oil & gas piping installation category is anticipated to grow significantly over the forecast period. In the construction of pipelines, amphibious excavators are also used to install pipes through trenches by digging or dredging and then precisely placing each pipe inside its trench to prevent any damage.
Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on Amphibious Excavator Market Forecast Report (2022-2028).
Global Amphibious Excavator Market Segmentation
By weight (tons)
- 5 – 10
- 10 – 20
- 20 – 30
- Above 30
By Application
- Dredging & Deepening of River & Waterways
- Oil & Gas Piping Installation
- Highway Construction
- Landscaping
- Other Applications
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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