Vietnamese Crawler Excavator Market Report Assessment & Forecasts 2021-2027: Vietnam's Mini Crawler Excavator Market is Forecast to Reach 605 units by 2027, Growing at a CAGR of 8.82%

DUBLIN, Aug. 20, 2021 /PRNewswire/ -- The "Vietnam Crawler Excavator Market - Strategic Assessment & Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.

The Vietnamese crawler excavator market is forecast to grow at a CAGR of 9.84% during the period 2021-2027. The fast recovery of countries such as China, Korea, and Japan from the pandemic situation is the major factor helping Vietnam to recover faster from the pandemic situation and is expected to attract significant investments over the coming years.

The report considers the present scenario of the crawler excavator market in Vietnam and 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 a segment analysis of the Vietnam crawler excavator market.

VIETNAM CRAWLER EXCAVATOR MARKET INSIGHTS

• Increasing infrastructure investment and construction operations in the country are expected to boost the demand for crawler excavators in the country over the forecast period.
• By 2025, the Government of Vietnam is planning to invest around US$ 120 billion in infrastructure projects. Infrastructure construction projects that are halted or suspended due to the pandemic are expected to resume and increase the demand for excavators over the period.
• Vietnam's mini crawler excavator market is expected to reach 605 units by 2027, growing at a CAGR of 8.82%.
• High foreign investment leads to economic growth in Vietnam, which will help the government to invest more in public infrastructure that will be the driving force for Excavator demand.
• The volume of 102-200HP gross power excavators accounted for the largest share of around 32.1% in 2020.
• In Vietnam, transportation, tunnels, electric power, water supply resource, and real estate are among the five-focus sector. The government has proposed large-scale infrastructure projects and is expected to increase demand for medium excavators.

KEY HIGHLIGHTS FROM THE REPORT

• In terms of end-users, the construction industry is expected to generate the highest demand for excavators and is anticipated to dominate the market in the upcoming years.
• Incorporation of intelligent systems driven by IoT and data analysis for service, networking, and sustainability, the market is transitioning to a more innovative industry.
• Excavators used in various sports tournaments and waste and sewage disposal are expected to contribute to the market's growth.

VIETNAM CRAWLER EXCAVATOR MARKET - SEGMENTAL ANALYSIS

• The rise in fuel prices will increase the demand growth of mini excavators as they are more fuel-efficient and compact than heavy excavators.
• Vietnam's Crawler excavator market in the agriculture sector is expected to reach 318 units by 2027.
• Vietnam's government is investing in roads and infrastructure that will propel the growth of excavators in the gross power output segment.

VIETNAM CRAWLER EXCAVATOR MARKET - VENDOR LANDSCAPE

Intense competition in technology and design, Excavator manufacturers are vigorously focusing on promoting technologically innovative features and a wide variety of attachments for their equipment. Manufacturers are making operational advances in their excavator motors to manage their competitiveness in the market. For instance, Komatsu collaborated with Honda motor to manufacture micro electric excavator powered by Honda.

Major Vendors

• Caterpillar
• Komatsu
• Hitachi
• Hyundai Construction Equipment
• Sany
• Volvo
• Doosan
• Kobelco

Other Prominent Vendors

• Kubota
• Sumitomo
• Ingersoll Rand
• XCMG

For more information about this report visit https://www.researchandmarkets.com/r/11k1na

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