20-Aug-2018 | Zion Market Research
With the presence of a large pool of participants, the Global amphibious excavator market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). TSBC Engineering Sdn. Bhd, MBI, EIK Engineering, Ultratrex, Marsh Equipment, Sany Company, and L&T Construction & Mining Machinery are some of the key vendors of amphibious excavator across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the amphibious excavator market study.
Citing an instance, on June 16, 2017, China-based manufacturer XCMG introduced XE215S, its first locally developed amphibious excavator. Reportedly, the new product is expected to operate on boggy terrains, beach, and soft soil. The company sources have revealed that the new product will help in resolving the recurring problems such as short life cycle, high energy consumption, and wear & tear issues that have impacted amphioxus excavator production in the last few years.
This review is based on a report by Zion Market Research, titled "Amphibious Excavators Market for Construction, Mining, and Other Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2014 – 2020"- Report at https://www.zionmarketresearch.com/report/amphibious-excavators-market
As estimated in this report, the global amphibious excavator market was estimated at US$ 3.19 billion in 2014. Witnessing a tremendous rise during the period from 2014 to 2020, the revenue in this market is expected to reach US$ 5.66 billion by the end of the forecast period. The product finds extensive applications in construction & mining activities. Construction sector is anticipated to drive the application landscape over the next few years, notes the research report.
Tremendous Rise In Construction Activities To Accelerate Market Growth
“Massive applications in terrestrial digging activities, mining, material handling, river dredging, and forestry work are expected to generate commendable gains for amphibious excavator market over the years to come,” says the author of this study. Apart from this, introduction of new schemes by the government along with its assistance for construction of roads, dams & bridges, and railway platforms is likely to propel the market growth in the near future. Government motive to boost globalization as well as urbanization has resulted in expansion of the construction activities across the globe, thereby generating a profitable roadmap for amphibious excavator market.
Proliferating product application in digging of trenches & holes, river dredging, snow removal with plow, removing silty clay, and drilling shafts for footings & rock blasting is anticipated to further boost the amphibious excavator market trends.
Favorable Government Policies To Help APAC Dominate Regional Landscape
Geographically, Asia Pacific has been dominating the worldwide amphibious excavator market and is anticipated to continue its domination in the years to come, states the amphibious excavator market study. The rising disposable incomes, government initiatives, and prolific increase in the activities such as construction of roadways, dams & bridges, and rail platforms are the key driving factors of the Asia Pacific amphibious excavator market. For the record, in 2014, Asia Pacific accounted for nearly 70% of global amphibious excavator market share. Reportedly, North America was the second biggest regional market for amphibious excavators during the same year.
The global Amphibious Excavator market is segmented as follows:
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