Ten Facts About Mini Excavators Market That Will Blow Your Mind.
The
global mini
excavators market is expected to grow at a CAGR of 9.34% during the
forecast period. Based on end-user, the global mini excavators
market has been segmented into Construction, Utility, and Agriculture and
forestry.
The
construction segment is primarily driven by increased investments in public
sector construction by governing bodies, particularly in developing countries.
Increased foreign direct investment (FDI), rising population, and growing
transportation sector across the globe are resulting in the construction of
roads, public transportation networks, and residential buildings. Furthermore,
the growing global urban population is another factor contributing to the
growth of the construction segment. Suburban areas are witnessing a
considerable increase in investment for the construction of residential
buildings.
Apart
from buildings, developing countries are increasingly investing in road
construction. Apart from new road construction projects, the governing bodies
of several countries are investing significantly in widening the existing
roads. In road and railway construction sites, particularly in compact places,
mini excavators are used for performing various tasks, such as the construction
of tunnels. The increasing number of road and railway construction projects are
anticipated to fuel the demand for mini excavators and other construction
equipment, thereby driving the growth of the global mini excavators
market during the forecast period.
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