DUBLIN, December 09, 2021--(BUSINESS WIRE)--The "Myanmar Crawler Excavator Market - Strategic Assessment & Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The Myanmar crawler excavator market is expected to grow at a CAGR of 7.57% during the period 2018-2027.
Key Questions Answered:
1. How big is the Myanmar Crawler Excavator Market?
2. What are the different types of excavators in the Myanmar Crawler Excavator Market?
3. Who are the key vendors in Myanmar Crawler Excavator Market?
4. What are the key factors driving the Myanmar Crawler Excavator Market?
5. Which types of excavators accounted for the largest market share?
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 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 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.
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.
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 (>6 tons)
Small (6-15 tons)
Medium (15-30 tons)
Large (above 30 tons)
Market Segmentation by Application
Market Segmentation by Gross Power Output
For more information about this report visit https://www.researchandmarkets.com/r/vt1vv7
View source version on businesswire.com: https://www.businesswire.com/news/home/20211209005663/en/
Laura Wood, Senior Press Manager
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