CHICAGO, Sept. 1, 2021 /PRNewswire/ — The trend of government initiatives towards new technology and development in infrastructure is positively impacting the growth of the crawler excavator market. The adoption of crawler excavator is rising due to proper waste management across the globe. In the advent of COVID-19, the digitalization in industrial machinery is highly recommended. The demand for crawler excavators in the Philippines fell by -3.9% in 2020. However, unit sales are projected to recover to pre-COVID-19 levels by 2021. Arizton’s approach includes the key highlights of the market such as trends and driver analysis, market share analysis, growth opportunities, and the impact of government initiatives in the industrial machinery industry. Key manufacturers in Thailand, Malaysia, & Philippines are aiming to deliver innovative features to attract a greater number of customers in the heavy machinery market.
Explore growth opportunities and learn about the market in these following crawler excavator research reports.
Explore Arizton’s portfolio now!
1. Malaysia Crawler Excavator Market – Strategic Assessment & Forecast 2021-2027
The Malaysia crawler excavator market size will be valued at USD 269.6 million and to reach volume of 2768 units by 2027, growing at a compound annual growth rate (CAGR) of 7.84% by volume during 2021-2027.
The Government in Malaysia is planning to use automation and sustainable practices such as the use of remote-control hybrid excavators to reduce pollution and increase safety in the mining industry. Excavator manufacturing companies in Malaysia have partnered with local distributors and dealers to sell their equipment in the market. The growth in the residential construction will the sale of crawler excavator in Malaysia.
Key Highlights from the Research:
- The Malaysian Government is focusing on improving infrastructure by increasing fund allocation and approving various projects, which in turn, will accelerate the demand for crawler excavator market in Malaysia.
- The growing market for mini excavators is driving OEMs to develop and release more sophisticated models as they are capable of landscaping, excavating, demolishing, and material handling in cities and farms.
- The construction industry is expected to generate the highest demand for crawler excavators and is anticipated to further dominate the market during the forecast period.
- By switching to intelligent systems driven by IoT and data analysis for service, networking, and sustainability, the crawler excavator market is transforming into innovative industry.
- Malaysia is an attractive FDI destination for investment in manufacturing and service sectors. In 2020, the country’s FDI inflow stood at USD 3.2 billion.
Malaysia crawler excavator market research report includes excavator type (mini (>6 tons), small (7-24 tons, medium (25-40 tons), and large (above 40 tons)), gross power (<60 HP, 61-101 HP, 102-200 HP, and >201 HP), and application (construction, mining, agriculture, forestry, and others).
The key vendors in the Malaysia crawler excavator market include Caterpillar, Komatsu, Hitachi, Hyundai Construction Equipment, Sany, Volvo Construction Equipment, Doosan, Kobelco, and JCB.
2. Thailand Crawler Excavator Market – Strategic Assessment & Forecast 2021-2027
The Thailand crawler excavator market size will be valued at USD 324.4 million and to reach volume of 6949 units by 2027, growing at a compound annual growth rate (CAGR) of 7.01% by volume during the forecast period.
With the emergence of remote operation excavators in mines and the advent of 5G technology, the demand for excavators used in mining is expected to boost as it is comparatively safer to operate excavators from a distance. Thailand’s crawler excavator market revenue by mining is expected to reach USD 43 million by 2027, growing at a CAGR of 4.88%.
Key Highlights from the Research:
- The mini excavator industry in Thailand has the potential to grow enormously in the long term as the availability of cheap manual labor declines and the requirement for inner city construction projects rises.
- Excavators used in various sports tournament and waste and sewage disposal is expected to contribute to the growth of the crawler excavator market in Thailand.
- Manufacturers are making operational advances in their excavator motors, hydraulic systems, structure, tracks, and cab construction to improve fuel efficiency and competitiveness.
- Greater than 60 HP gross power excavator accounted for the largest market share of around 45% in 2020.
Thailand crawler excavator market research report includes excavator type (mini (>6 tons), medium (6-40 tons), and large (above 40 tons)), gross power (<60 HP, 61-101 HP, 102-200 HP, and >201 HP), and application (construction, mining, agriculture, forestry, and others).
The key vendors in the Thailand crawler excavator market include Caterpillar, Komatsu, Hitachi Construction Machinery, JCB, Hyundai Construction Equipment (HCE), SANY, Doosan Excavator, Volvo Construction Equipment, and Kobelco.
3. Philippines Crawler Excavator Market – Strategic Assessment & Forecast 2021-2027
Philippines crawler excavator market size will reach USD 2900 units by 2027, growing at a CAGR of 7.97% during the period 2021-2027
With the rise in infrastructure projects and other activities, the demand for small and medium excavators are expected to be high in the Philippines crawler excavator market. The Philippines is highly dependent on imports and international trade for construction and mining equipment, including excavators.
Key Highlights from the Research:
- The usage of medium and small excavators is high in forestry-related activities, compared to that of mini and large excavators. In other ASEAN countries, the demand for technologically advanced construction machinery, including excavators, is increasing in Philippines.
- Petroleum, energy, oil, and gas are the major other end-users of crawler excavators in Philippines.
- One of the key vendors, Caterpillar provides its crawler excavators through its distributor, Monark International, which is known as MonarkCAT. The company offers used and rental excavators which is gaining traction in the market.
- The rise in fuel prices will surge the demand growth of mini excavators as they are more fuel efficient and compact compared to that of heavy excavators.
Philippines crawler excavator market research report includes excavator type (mini (>6 tons), small (6-24 tons), medium (25-40 tons), and large (above 40 tons)), gross power (<60 HP, 61-101 HP, 102-200 HP, and >201 HP), and application (construction, mining, agriculture, forestry, and others).
The key vendors in the Philiippines crawler excavator market Caterpillar, Komatsu, Hitachi Construction Machinery, Hyundai Construction Equipment, Sany, Volvo, Doosan, and Kobelco.
Explore our industrial machinery profile to know more about the industry.
Read some of the top-selling reports:
About Arizton:
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Mail: [email protected]
Call: +1-312-235-2040
+1 302 469 0707
SOURCE Arizton Advisory & Intelligence
