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In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Compact Construction Equipment market for 2018-2023.
Compact construction equipment is an emerging term used in the construction equipment industry, which refers to small units are designed to work on small commercial and residential sites. The major utility factor of compact construction equipment is their versatility and ability to perform tasks that were previously undertaken by heavy machinery.
The main advantages of compact construction equipment are that they are low cost, light weight, and easy to transport and operate. However, there is no industry standard to specify any requirements to be met for equipment to be categorised as compact construction equipment. Categorisation is more dependent on the type of application performed in a particular sector. Generally, Mini Excavators, Compact Wheel Loaders, Multi Terrain Loaders, Compact Track Loaders and Skid Steer Loader are classified under compact construction equipment.
Compact Construction Equipment market has drawn significantly attention owing to the residential apartment construction cycle that provided a big boost to many economies during 2016 and 2017 is shifting focus. China and Europe are prime regions with strong penetration of Compact Construction Equipment market. China is the largest consumption area, accounting for 27.75%.
Compact Construction Equipment market is characterized with few leading giants. Caterpillar, John Deere, Takeuchi, Wacker Neuson SE, Kubota are the leading companies worldwide. As mergers and acquisition going on, market concentration is predicted to be higher.
Based on product type, the Mini Excavators segment of the global Compact Construction Equipment market share is the biggest, accounting for 40% of the demand in 2017. By applications, construction category accounted for 80.17% of the demand in 2017.
The key market players have been driving the growth with agreements, expansions, acquisitions, and new product launches to develop their position. It is competitive, with leading players being involved in the research & development of new Compact Construction Equipment.
Despite the presence of competition problems, due to the clear global economy recovery trend and industry profits, investors are still optimistic about this area; there will be more investments to enter the field.
Over the next five years, LPI(LP Information) projects that Compact Construction Equipment will register a 6.1% CAGR in terms of revenue, reach US$ 16400 million by 2023, from US$ 11500 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Compact Construction Equipment market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
- Mini Excavators
- Compact Wheel Loaders
- Compact Track Loaders
- Skid Steer Loaders
Segmentation by application:
This report also splits the market by region:
- - United States
- - Canada
- - Mexico
- - Brazil
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- - Germany
- - France
- - UK
- - Italy
- - Russia
- - Spain
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
- John Deere
- Wacker Neuson SE
- CNH Industrial
- Ditch Witch
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
- To study and analyze the global Compact Construction Equipment consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- To understand the structure of Compact Construction Equipment market by identifying its various subsegments.
- Focuses on the key global Compact Construction Equipment manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Compact Construction Equipment with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the consumption of Compact Construction Equipment submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.