Dublin, April 03, 2024 (GLOBE NEWSWIRE) -- The "North America Mini Excavators Market Size, Share & Trends Analysis Report By Type (Track and Wheeled), By Operating Weight (Less than 4 tons and 4 tons to 10 tons), By End User (Landscaping & Construction and Agriculture), By Country and Growth Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The North America Mini Excavators Market is forecast to witness market growth of 4% CAGR during the forecast period 2023-2030.
Mini excavators, also known as compact excavators, are small hydraulic excavators designed for use in various construction, landscaping, and utility applications where space is limited. One of the key factors driving the growth of the market is the increasing demand for compact and versatile construction equipment. These are well-suited for urban construction projects, renovation, landscaping, and utility maintenance tasks where larger equipment may be impractical. Their compact size allows them to navigate confined spaces and work in confined areas, making them highly versatile and adaptable to various job site requirements.
Population growth has significantly increased demand in the agricultural sector, which has had a positive effect on the expansion of the market. Moreover, since these are available in a range of lifting capacities, they can be utilized for an extensive variety of small-scale projects. These are extensively employed for tasks such as maintaining land surfaces and excavating small pits and trenches, in addition to managing lower loads. The proliferation of enhanced battery technologies has facilitated the procurement and operation of mini excavators. Furthermore, the incorporation of cameras and other spatial sensors has propelled the development of an entirely new line of compact excavators characterized by enhanced operability.
They are widely used in utility and landscaping applications across North America. They are essential for digging trenches for utilities, installing drainage systems, and landscaping in urban and rural settings. In urban US, many Americans enjoy having a pool or a large hot tub outside their homes. The fact that there are approximately 10.4 million household swimming pools in the United States demonstrates how popular pools are. Because many states need homeowners to obtain special building licenses for pools, they frequently hire contractors to do the work. These are ideal for manoeuvring through a backyard where a bigger equipment cannot reach. Therefore, as construction and infrastructure development activities continue to expand in the region, their demand is expected to remain strong in the coming years.
The US market dominated the North America Mini Excavators Market, By Country in 2022, and is forecast to continue to be a dominant market until 2030; achieving a forecasted market value of $1.89 Billion by 2030. The Canadian market is forecast to experience a CAGR of 6.3% during 2023-2030. Additionally, Mexico's market is set to exhibit a CAGR of 5.4% during 2023-2030.
Report Scope:
- Based on Type, the market is segmented into Track and Wheeled.
- Based on Operating Weight, the market is segmented into Less than 4 tons and 4 tons to 10 tons.
- Based on End User, the market is segmented into Landscaping & Construction and Agriculture.
- Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Key Companies Profiled
- 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.
- Zoomlion Heavy Industry Science & Technology Co., Ltd.
Market Report Segmentation
By Type
- Track
- Wheeled
By Operating Weight
- Less than 4 tons
- 4 tons to 10 tons
By End User
- Landscaping & Construction
- Agriculture
By Country
- US
- Canada
- Mexico
- Rest of North America
For more information about this report visit https://www.researchandmarkets.com/r/le8eeg
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