DUBLIN, September 17, 2021--(BUSINESS WIRE)--The "Malaysia Crawler Excavator Market - Strategic Assessment & Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.
Malaysia crawler excavator market to grow at a CAGR of 7.84% during the period 2021-2027.
The report considers the present scenario of the crawler excavator market in Malaysia 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 Malaysia crawler excavator market.
The growing demand for green buildings is expected to boost the need for crawler excavators. The government is planning to use automation and sustainable practices like remote-control hybrid excavators to reduce pollution and increase safety in the mining industry.
Excavator manufacturing companies have partnered with local distributors and dealers to sell their equipment in the market. There is no significant distribution channel in Malaysia for heavy equipment machinery. Independent dealers or distributors account for more than half of the sales, and the other half is majorly divided between retail suppliers and rental companies.
Komatsu has collaborated with a US maker of commercial electric vehicles to produce electrified heavy machinery and excavator, looking to start mass production ahead of its rivals early from 2023. Caterpillar, Komatsu, Hitachi, Kubota, Sumitomo, and Leeboy are few significant players in the Malaysia Crawler Excavator market.
MALAYSIA CRAWLER EXCAVATOR MARKET INSIGHTS
The government is focusing on the improvement of infrastructure by increasing fund allocation and approving various projects. This, in turn, will increase the sale of construction equipment in the Malaysian crawler excavator market.
Mini excavators are being used for waste management due to their portable and compact size in Malaysia.
Excavators used in the construction industry accounted for the largest market share of 50.4%, pertaining to significant government expenditure on construction projects.
Medium Excavators accounted for the largest market share of around 34.7% because of their growing popularity across the country.
Hyundai Construction Equipment jointly developed South Korea's first AI-based equipment failure diagnosis technology and Amazon Web Services (AWS) in the heavy machinery market.
The emergence of new technology and the use of automation in excavators will increase the growth of mining industries.
KEY HIGHLIGHTS FROM THE REPORT
Due to rising urbanization and increasing activity in the country's construction sectors, the production and sales of large excavators are expected to boost significantly.
Use of AI technology in enhancing productivity, safety, uptime, and operation in the market.
Farmers growing pulp have been urged to curtail natural forest use and focus their attention on commercial forests and the expansion of acacia plantations, which has resulted in a rise in excavator sales.
MALAYSIA CRAWLER EXCAVATOR MARKET - SEGMENTATION ANALYSIS
The mini excavator is expected to grow in the long term owing to the increasing demand for compact excavators that are technologically advanced. Malaysia's mini crawler excavator market is expected to reach 1659 units by 2027.
Malaysia's crawler excavator market by forestry is expected to reach 91 units by 2027, growing at a CAGR of 3.05%. The forestry segment accounts for 8% of the overall crawler excavator industry.
Malaysia's gross Power >201 HP crawler excavator market is expected to reach 1183 units by 2027, growing at a CAGR of 6.99%.
Market Segmentation by Excavator Type and Operating Weight
Mini (>6 tons)
Small (7-25 tons)
Medium (26-40 tons)
Large (above 40 tons)
Market Segmentation by Application
Market Segmentation by Gross Power
Hyundai Construction Equipment
Volvo Construction Equipment
Other Prominent Vendors
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)
Excavator Type and Operating Weight
Gross Power Output
Excavator Type and Operating Weight
Gross Power Output
Gain competitive intelligence about the economic scenario, advantages in Malaysia major projects and investments, market dynamics, 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 Malaysia crawler excavator market share
Complete supply chain analysis
Get COVID-19 impact analysis of the market
Company Profile of 16 significant vendors
KEY QUESTIONS ANSWERED:
1. At what CAGR is the Malaysia Crawler Excavator market projected to grow in the forecast period (2021-2027)?
2. What are the segments covered in the Malaysia Crawler Excavator market report?
3. Who are the top players in the Malaysia Crawler Excavator market?
4. What are the recent technologies for the Crawler Excavator market in Malaysia?
5. What are the key factors driving the Malaysia Crawler Excavator growth?
For more information about this report visit https://www.researchandmarkets.com/r/dw01d3
View source version on businesswire.com: https://www.businesswire.com/news/home/20210917005316/en/
Laura Wood, Senior Press Manager
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