DUBLIN , June 14, 2022 /PRNewswire/ -- 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.
The report considers the present scenario of the Philippines crawler excavator market 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 a segment analysis of the crawler excavator market. 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.
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%.
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%.
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-
Excavator Type and Operating Weight
Excavator Type and Operating Weight
Gain competitive intelligence about the economic scenario, advantages in the Philippines , major projects and investments, market dynamics, and market share
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
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
Economic Scenario, Advantage Philippines, Equipment Financing Structure, Supply Chain Insights, COVID-19 Impact, COVID-19 Impact analysis
Technology Adoption by Major Vendors with Examples
Section 5 - Philippines Crawler Excavator Market (Type & Operating Weight)
Philippines Crawler Excavator Market by Excavator Market by Type (Operating Weight)
Mini Crawler Excavator, Market Size and Forecast, Volume & Value, 2018-2027 Small Crawler Excavator, Market Size and Forecast, Volume & Value, 2018-2027 Medium Crawler Excavator, Market Size and Forecast, Volume & Value, 2018-2027 Large Crawler Excavator, Market Size and Forecast, Volume & Value, 2018-2027
Philippines Crawler Excavator Market by Excavator Market by Application
Crawler Excavator, Construction, Market Size and Forecast, Volume & Value, 2018-2027 Crawler Excavator, Mining, Market Size and Forecast, Volume & Value, 2018-2027 Crawler Excavator, Agriculture, Market Size and Forecast, Volume & Value, 2018-2027 Crawler Excavator, Forestry, Market Size and Forecast, Volume & Value, 2018-2027 Crawler Excavator, Others, Market Size and Forecast, Volume & Value, 2018-2027
Philippines Crawler Excavator Market by Gross Power
Crawler Excavator Market by Gross Power Output, < 60 hp, Volume & Value, 2018-2027 Crawler Excavator Market by Gross Power Output, 61 hp-101 hp, Volume & Value, 2018-2027 Crawler Excavator Market by Gross Power Output, 102 hp-200 hp, Volume & Value, 2018-2027 Crawler Excavator Market by Gross Power Output, >201 hp, Volume & Value, 2018-2027 Section 6 - Market Landscape
Company Profile of major Vendors (Komatsu, Hitachi Construction Machinery, Kobelco, Caterpillar, Hyundai Construction Equipment, Doosan, JCB, SANY, Volvo Construction Equipment)
Section 8 - Report Summary Section 9 - Appendix
For more information about this report visit https://www.researchandmarkets.com/r/71afs1
Research and Markets Laura Wood , Senior Manager press@researchandmarkets.com
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