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Myanmar Crawler Excavator Market Report 2021: Strategic Assessment & Forecasts to 2027 - ResearchAndMarkets.com

·4-min read

DUBLIN, September 20, 2021--(BUSINESS WIRE)--The "Myanmar Crawler Excavator Market - Strategic Assessment & Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.

Myanmar crawler excavator market to grow at a CAGR of 7.57% during the period 2018-2027.

The report considers the present scenario of the crawler excavator market in Myanmar 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 segment analysis of the India crawler excavator market.

The Myanmar crawler excavator market is expected to show an incremental growth of 214 units. The driving force for the crawler excavator industry will be expanding roads and mass transit, and water management systems. Due to intense competition in technology and design, excavator makers are marketing their devices vigorously, focused on technologically innovative features and a wide variety of attachments.

The manufacturers focus on developing green products that comply with increasingly stringent international environmental laws, such as the IMO's air pollution and sulfur dioxide emission standards, by creating key eco-friendly technology. For instance, Caterpillar strategizes to deliver high-quality power systems and machines by focusing on implementing defect-free initiatives across the company. Caterpillar is planning to expand its product offerings to meet the requirements of a broad range of customers.

MYANMAR CRAWLER EXCAVATOR MARKET INSIGHTS

  • The country improved minority investor rights by mandating more disclosure of transactions involving interested parties, raising director responsibility, and improving corporate transparency in the crawler excavator market.

  • In Myanmar, manufacturers are making operational advancements in their excavator motors, hydraulic systems, structure, tracks, and cab construction to improve their telematics fuel efficiency and competitiveness. With substantial continuing changes in Myanmar's mining controls, there was a considerable increase in international interest and investment in 2020.

  • Myanmar relies on the export of crawler excavators majorly from China, Japan, and Korea.

  • OEMs majorly focus on medium crawler excavators as this range has witnessed significant demand in the recent past, and it is further expected to witness an increased demand in the country.

  • Hitachi Construction Machinery has developed long-distance remote control and autonomous operation technology for ultra-large hydraulic excavators using ICT and IoT technologies across Myanmar.

KEY HIGHLIGHTS FROM THE REPORT

  • With increasing investments in road construction, housing projects in the pipeline, the demand for medium excavators is expected to spike in the country.

  • Myanmar's advantageous position is likely to play a critical role in the government's ambitions to expand international collaboration, commerce, and investment, boosting excavators' demand shortly.

  • Medium excavators accounted for the largest market share of around 33.7% because of their growing popularity.

MYANMAR CRAWLER EXCAVATOR MARKET - SEGMENTAL ANALYSIS

  • The mini excavator industry has the potential to grow enormously in the long term as the availability of cheap manual labor declines and the requirement for inner-city construction projects rises.

  • With the emergence of remote operation of excavators deep down in mines and the advent of 5G technology, the demand for excavators used in mining is expected to boost as it is comparatively safer to operate excavators from a distance.

Market Segmentation by Excavator Type and Operating Weight

  • Mini (Less than 6 tons)

  • Small (6-15 tons)

  • Medium (15-30 tons)

  • Large (above 30 tons)

Market Segmentation by Application

  • Construction

  • Mining

  • Agriculture

  • Forestry

  • Others

Market Segmentation by Gross Power Output

  • 61-101 HP

  • 102-200 HP

  • >201 HP

MYANMAR CRAWLER EXCAVATOR MARKET - VENDOR LANDSCAPE

Major Vendors

  • Caterpillar

  • Komatsu

  • Hitachi

  • Hyundai

  • Doosan

  • Volvo

  • JCB

  • Sany

  • Kobelco

Other Prominent Vendors

  • Kubota

  • Sumitomo

  • Ingersoll Rand

  • Liebherr

  • XCMG

  • LeeBoy

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)

  • Type

  • Excavator Type and Operating Weight

  • Application

  • Gross Power Output

  • Value (Million)

  • Type

  • Excavator Type and Operating Weight

  • Application

  • Gross Power Output

  • Gain competitive intelligence about the economic scenario, advantages in Myanmar, 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 Myanmar crawler excavator market share

  • Complete supply chain analysis

  • Get COVID-19 impact analysis of the industry

  • Company Profile of 16 major vendors

For more information about this report visit https://www.researchandmarkets.com/r/x04o3f

View source version on businesswire.com: https://www.businesswire.com/news/home/20210919005051/en/

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