Dublin, July 02, 2021 (GLOBE NEWSWIRE) -- The "Thailand Crawler Excavator Market - Strategic Assessment & Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.
Thailand crawler excavator market is growing at a CAGR of 5.98% during the period 2021-2027
The demand in the Thailand crawler excavators market fell by 18% in 2020, but unit sales are projected to recover to pre-covid levels by 2023, assuming geopolitical stability. Public investment is projected to remain a key driver in the Thailand market, increasing over the next few years, in line with the government's infrastructure plans to attract private investment.
The report considers the present scenario of the Thailand crawler excavator market in Indonesia and its market dynamics for the forecast period 2021-2027. It covers a detailed overview of several growth enablers, restraints, and trends in the market. The study includes the volume and value sales with segment analysis of the Indonesia crawler excavator market.
KEY HIGHLIGHTS FROM THE REPORT
- Manufacturers are making operational advances in their excavator motors, hydraulic systems, structure, tracks, and cab construction to improve their telematics fuel efficiency and competitiveness.
- Thailand is the preferred investment location due to its excellent digital infrastructure, highly skilled labour force, and high quality of living, boosting the growth of the crawler excavator market.
- The crawler excavator market moves towards an innovative industry by switching to intelligent systems driven by IoT and data analysis for service, networking, and sustainability.
THAILAND CRAWLER EXCAVATOR MARKET INSIGHTS
- Increasing investment in road construction, housing projects, and Smart Cities projects is expected to spike medium excavators' demand.
- Excavators used in the construction industry accounted for the largest share of around 42% due to huge government expenditure on the construction project.
- Thailand's crawler excavator market demand is majorly driven by mining activities expected to show significant growth across the country.
- Caterpillar strategizes to deliver high-quality power systems and machines by focusing on implementing defect-free initiatives in the country.
- Due to the high procurement and maintenance cost of excavators, rentals are preferred by the contractors; thus, the rental segment will rise eventually.
THAILAND CRAWLER EXCAVATOR MARKET - VENDOR LANDSCAPE
Caterpillar, Komatsu, Hitachi Construction Machinery, JCB, Hyundai Construction Equipment (HCE), SANY, Doosan Excavator, Volvo Construction Equipment, and Kobelco are the major vendor in the Thailand crawler excavator market.
Komatsu is strategizing to set up manufacturing units in those countries where its products are sold. The company can establish a global network of production and sales in the market. Due to intense competition in technology and design, excavator makers are marketing their devices vigorously, focused on technologically innovative features and a wide variety of attachments.
Major Vendors
- Caterpillar
- Komatsu
- Hitachi Construction Machinery
- JCB
- Hyundai Construction Equipment (HCE)
- SANY
- Doosan Excavator
- Volvo Construction Equipment
- Kobelco
Other Prominent Vendors
- Sumitomo Construction Machinery
- Xuzhou Construction Machinery Group Co., Ltd. (XCMG
- Leeboy
- Kubota Machinery
- Ingersoll Rand
- Liebherr Group
THAILAND CRAWLER EXCAVATOR MARKET - SEGMENTAL ANALYSIS
- OEMs are majorly focusing on medium crawler excavators as this range is witnessing major demand in the recent past, and it is further expected to boost during the forecast period.
- Thailand crawler excavator market revenue by agriculture is expected to reach USD 76.3 million by 2027, growing at a CAGR of 6.43%.
- With the emergence of remote operation of excavators deep down 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 mini crawler excavator market is expected to reach 2,990 units by 2027, growing at a CAGR of 6.47%.
Segmentation by Excavator Type and Operating Weight
- Mini (<6 tons)
- Small (6-25 tons)
- Medium (25-40 tons)
- Large (>40 tons)
Segmentation by Application
- Mining
- Construction
- Agriculture
- Forestry
- Others
Segmentation by Gross Power Output
- 61-101 HP
- 102-200 HP
- >201 HP
WHY SHOULD YOU BUY THIS REPORT?
This report is among the few in the market that offers outlook and opportunity analysis forecast in terms of
Volume (Unit sales)
- Type
- Excavator Type and Operating Weight
- Application
- Gross Power Output
Value (USD)
- Type
- Excavator Type and Operating Weight
- Application
- Gross Power Output
- Gain competitive intelligence about the economic scenario, advantages in Thailand, major projects and investments, market dynamics, and market share
- Examples of latest technologies
- Get presentation-ready format and easy-to-interpret data.
- Enable decision-makers to make informed and profitable choices
- Gain expert quantitative and qualitative analysis on value/volume growth projections of the Thailand crawler excavator market share
- Complete supply chain analysis
- Get COVID-19 impact analysis of the market
- Company Profile of 15 major vendors
For more information about this report visit https://www.researchandmarkets.com/r/4xwl8c