Mini Excavators Market Size, Share, Growth Analysis, By Type(Wheeled, and Track), By Capacity(Less than 4 tons, and more than 4 tons), By End-user(Agriculture, Construction, Forestry, and Others), By Region - Industry Forecast 2024-2031

Global mini excavators market size was valued at USD 8.9 billion in 2022 and is poised to grow from USD 9.4 billion in 2023 to USD 14.53 billion by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).

Mini excavators are just regular excavators with a compact size and form factor with reduced operating capacity. They are highly suitable for use in urban spaces where there is less space available for operation and it is not possible for a full-scale excavator to access. Robust growth in mining and construction industries around the world is projected to bolster the demand for mini excavators over the coming years. These machines consume less power as compared to conventional excavators while doing the work of landscaping and excavating. Portability and affordability are the key factors that are pushing the sales of mini excavators onto a global level. High investments in infrastructure development and expanding world population are also slated to benefit the demand for mini excavators in the long run.

Developing countries such as Indonesia, Brazil, India, and China are trying to maximize their economic growth by investing in infrastructure development, which is slated to create robust opportunities for mini excavator companies around the world. Integration of automation with these mini excavators is a key trend that most market players should focus on if they wish to stay relevant in the future.