In recent years, small excavators with its compact and flexible, multi-functional characteristics, widely used in many fields, the market continues to climb, showing a vigorous development trend.
From the perspective of market scale, small excavator in the global market scale continues to expand. 2023 global small excavator market size reached 62.238 billion yuan, the domestic market capacity of 25.437 billion yuan. It is predicted that the global market will grow at an average growth rate of 4.4% from 2024 to 2029, and is expected to reach 81.998 billion yuan in 2029. This growth trend is attributed to the continuous advancement of global infrastructure construction, the in-depth development of agricultural modernization, and the rigid demand in areas such as municipal maintenance and urban renewal.
In terms of technological innovation, many enterprises have actively invested in research and development to promote the technological upgrading of mini excavators. Through research and development, not only improve the power system and handling accuracy of excavators, but also realize lower energy consumption and emissions, to meet the diverse needs of different customers, and further expand the international market.
In terms of application scenarios, small excavators are becoming more and more common. In the water, electricity, gas, pipe, fiber optic cable renovation and other projects, because of its compact size, it can easily walk through the streets and alleys, to complete the task of digging trenches, filling pipelines and other tasks. In the landscaping industry, small excavators are gradually replacing manual labor, greatly improving the operating speed and construction quality.
Agricultural field is also an important application scenario for small excavators. With the development of agricultural modernization, small excavators with small and flexible, energy-saving and environmentally friendly features, in farmland farming, fruit tree and flower planting, farm construction and other aspects of the show. It can carry out plowing, digging, trenching and other operations, not only to save labor costs, but also to improve the quality of operation, help agricultural production to improve quality and efficiency .
However, the mini excavator industry is also facing the challenge of strict environmental protection policies in the development process. Many places have introduced policies to strengthen the regulation of non-road mobile machinery emissions. Such as Chongqing, non-road mobile machinery owners need to apply for code registration and other procedures, the construction unit must ensure that the machinery into the construction site in line with environmental requirements, to encourage the priority use of national three and above emission standards equipment. Beijing launched the old diesel non-road mobile machinery scrapping and renewal subsidy policy to guide the industry to the green direction of transformation.
Overall, despite the double pressure of environmental policy and market competition, but with the continuous innovation of technology and application areas continue to expand, small excavator industry will usher in a broad development prospects, is expected to play a more important role in the construction of the global economy.