Global Amphibious Excavators Market to gain $5.66 Bn by 2020, according to new statistics released by the Zion Market Research, the market research group.
Also read:Choosing the right excavator
Excavators can be employed in numerous application such as digging of trenches, holes, foundations, material handling, forestry work, demolition, mining, river dredging, drilling shafts for footings and rock blasting, snow removal with snow plow and snow blower attachments.
Amphibious excavators are excavator that use to float as well as does the terrestrial digging activity and are adapted for removing silty clay, clearing silted trenches, swampland operation, and low water area.
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Adoption of latest trends in the construction industry is also another major driving factor that is projected to demand of amphibious excavator throughout the years to come. Another major driving factor for the amphibious excavator market include the government schemes and support for heavy constructions like roads, bridges, dams, railway platforms, etc.
Construction was the largest application segment of the amphibious excavator market in 2014 owing to the increasing infrastructural activities across the globe. This market is supposed to grow with rising CAGR of 4.3%.
Growing keen interest and governmental support for globalization and urbanization is another important driving factor that is expected to propel the construction market and in turn the amphibious excavator market. Mining was another significant segment accounting for over 15% market share in the market in 2014.
In terms of demand, Asia-Pacific was the largest regional segment of the amphibious excavator market in 2014. It accounted for around 70% of the global amphibious excavator market.
Rising disposable income coupled with government schemes and support for heavy constructions like roads, bridges, dams, railway platforms, etc. is likely to contribute to continuing to Asia Pacific as a fastest growing market for amphibious excavator market. North America was the second largest regional market for amphibious excavators in 2014.
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Key players in the market include EIK Engineering, MBI Marsh Equipment, L&T Construction & Mining Machinery, Sany Chemical, TSBC Engineering Sdn. Bhd and Ultratrex among others.
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