Dublin, Aug. 19, 2021 (GLOBE NEWSWIRE) -- The "Philippines Crawler Excavator Market - Strategic Assessment & Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The Philippines crawler excavator market to grow at a CAGR of 7.97% during the period 2021-2027.
With the intense competition in technology and design, excavator makers are marketing their devices vigorously, focused on technologically innovative features and a wide variety of attachments. In the future, OEMs will focus on integrating sensor solutions for driver assistance and decreased equipment downtime, which would cut down additional costs. In the coming years, this factor is likely to push the demand for excavators.
VENDOR LANDSCAPE
Excavator manufacturers are entirely dependent on logistical operators and local distributors to bring their products to the Philippines Market. Caterpillar provides its crawler excavator through its distributor Monark International also known as MonarkCAT.
The company also offers used and rental excavators to surge the growth of the crawler excavator market in the Philippines. Government expenditure on infrastructure stood at PHP 56.1 billion during February 2021, increasing 23.1% from February 2020. This, in turn, creating growth opportunities for the vendors in the market.
KEY HIGHLIGHTS FROM THE REPORT
- In terms of end-users, the construction industry is expected to generate the highest demand for crawler excavators and is anticipated to dominate the market during the forecast period further.
- The purchase decision of excavators depends on the expected future performance of construction, mining, and agriculture industries, which are highly dependent on government initiatives on infrastructure development and demand for residential building construction.
- The Philippines' crawler excavator market revenue from agriculture is expected to reach USD 27.2 million by 2027, growing at a CAGR of 2.83%.
PHILIPPINES CRAWLER EXCAVATOR MARKET INSIGHTS
- Increasing government spending on infrastructure and other initiatives, the government is estimated to drive the market for crawler excavators in the Philippines.
- OEMs are also improving their telematics software, gaining popularity among excavator owners who want to constantly improve their uptime and degree of safety in their machines.
- With the increase in infrastructure projects and construction activities, the demand for small and medium excavators that can be used for digging, trenching, lifting, placement, landscaping is expected to be high in the market.
- Philippines' crawler excavator market revenue by construction is expected to reach USD 180.8 million by 2027, will grow at a CAGR of 10.39% during the forecast period.
- The potential growth of the Philippines crawler excavator market in the other sectors is majorly dependent on the demand for waste management solutions in the country.
PHILIPPINES CRAWLER EXCAVATOR MARKET - SEGMENTATION ANALYSIS
- The share of small excavators is more significant compared to other types. It is expected to witness significant growth due to the increasing construction, infrastructure, and mining activities in the country.
- Continuation of infrastructure projects delayed due to the COVID-19 pandemic is one of the major factors expected to boost the demand for medium excavators in the short term.
- The Philippines' >201 hp crawler excavator market is expected to reach USD 184 million by 2027, growing at a CAGR of 7.30%.
By Excavator Type and Operating Weight
- Mini (>6 tons)
- Small (6-24 tons)
- Medium (25-40 tons)
- Large (above >40 tons)
By Application
- Construction
- Mining
- Agriculture
- Forestry
- Others
By Gross Power
- 61-101 HP
- 102-200 HP
- >201 HP
Major Vendors
- Caterpillar
- Komatsu
- Hitachi Construction machinery
- Hyundai Construction Equipment
- Sany
- Volvo
- Doosan
- Kobelco
Other Prominent Vendors
- Sumitomo
- Kubota Corporation
- Ingersoll Rand
- Liebherr Group
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 the Philippines, 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 Philippines crawler excavator market share
- Complete supply chain analysis
- Get COVID-19 impact analysis of the market
- Company Profile of 12 significant vendors
Key Topics Covered:
Section 1 - Introduction
Section 2 - The Market Overview
Section 3- Technological Advances
Section 4 Market Dynamics
Section 5 - Philippines Crawler Excavator Market (Type & Operating Weight)
Section 6 - Market Landscape
Section 7 - Competitive Landscape
Section 8 - Report Summary
Section 9 - Appendix
For more information about this report visit https://www.researchandmarkets.com/r/8aqvah
