Off-Highway Research has released an in-depth report for mini excavator industry in India. This compact machine has been established only in the last few years. Number-wise sales of mini excavators have grown over the last decade from 22 units in 2007 to a point where sales could reach 1,000 machines this year. There are also currently ten suppliers of mini excavators in India. Three of these suppliers also manufacture such machines within the country.
But when we look at the global penetration in more mature construction equipment markets of Western Europe, North America, Japan, and even China, where compact equipment accounts for a large proportion of machinery sales, the present demand for mini excavators in India has remained very small and shows upward trajectory.
According to the report, “Off-Highway Research is bullish about the growth of the mini excavator market in the country and projects it to grow to 1,000 units in 2017 and reach a level of 1,500 units by 2021,”.
At present mini excavators only have niche market in India. However, the mini excavator usage is expanding and new applications are being established in the construction industry. With the increasing shortage of manual labour availability, the dependency on such machines is expected to continue to rise which will help grow the mini excavator market in the coming years.