Compact construction equipment are the small machines used for construction instead of bulky heavy machines. This compact equipment serves the same purpose as other heavy equipment machines such as cranes and loaders and are less costly as compared to the large construction equipment. These equipment are less bulky, and can be used where heavy construction equipment are not suitable such as small residential and commercial sites.
Rise in demand for light weight construction equipment, increase in awareness regarding benefits of compact equipment, such as high reliability and less cost are the factors that contribute to the growth of the compact construction equipment market. However, fluctuating fuel prices are expected to hamper the market growth. Higher adoption of compact construction equipment by sundowners or hobby farmers are anticipated to provide lucrative opportunities for the market.
The market is segmented on the basis of type, application, and geography. Based on type, the market is classified into skid steer loaders, track loaders, excavators, telehandlers, and backhoe loaders. Based on application, the market is divided into mining, construction, agriculture, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market include JCB, John Deere, Komatsu, Terex, Sany, Mustang, Caterpillar, King Machinery, XCMG, and Volvo.
- Porters Five Forces model helps analyze the potential of buyers & suppliers, and the competitive sketch of the market, which is expected to guide the market players to develop strategies accordingly.
- It outlines the current trends and future scenario of the market from 2016 to 2023 to understand the prevailing opportunities and the investment pockets.
- This report provides an in-depth analysis of the compact construction equipment market to identify the potential investment pockets.
- The key drivers, restrains, and opportunities are also provided in the report.
Compact Construction Equipment Market Key Segments:
- Skid Steer Loaders
- Track Loaders
- Backhoe Loaders
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Arabia South Africa
- Rest of LAMEA
- John Deere
- King Machinery