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Global Amphibious Excavator Market Growth, Size, Share, Industry Report and Forecast to 2026
The amphibious excavator market is expected to showcase a modest growth rate during the forecast period. It is a customized excavator, which is mainly used to work in the shallow water for various activities including dredging, pipeline installation, and land reclamation, and other related activities. This type of excavator is versatile and is used for dredging a range of materials including gravel, sand, clays, cobbles, and fractured and unfractured moderately strong rock.
Significant government expenditure is witnessed for the dredging activities all across the globe for the regular maintenance of the water reservoir. For instance, in UK dredging activities are carried out at Purfleet Shoal in every three years with an approximate quantity of 1,000 m3. Moreover, at various driver shoals, dredging activities are carried by the government at a regular interval. Moreover, in Lithuania, around $396 million will be invested in infrastructure and dredging operations in the period of 2020-2023, which will provide significant demand for amphibious excavators.
In India, port expansion and river cleaning will provide a considerable demand for dredging activities and so amphibious excavator. By the central government of India, around 50 projects have been identified under the new port development and port modernization activity. The aim of the government is to increase the port capacity from 1.4 billion tons per annum to 2.5 billion tons per annum by 2025. According to the Dredging Corp. of India Ltd. (the state-owned company), the Indian annual dredging industry was around 147-157 million cubic meters per year and 70% of them come under maintenance dredging. As the Indian economy is a price-sensitive economy, the alternative of a dredger that is, amphibian excavators is highly adopted for the shallow water dredging. Besides, the neighboring country of India, Bangladesh is preparing to dredge 10,000 km of rivers to enhance their navigability facilitating in 178 rivers by 2025.
The US is also one of the major players in the amphibious excavator market. The domestic dredging bid of the country in 2019 was around $1.7 billion. Major projects include a deepening project in Georgia, coastal protection project in New York, two coastal protection projects in Virginia, a maintenance project in Texas, and in the Mississippi River.
Few players are working in the amphibious excavator, as significant customization is required in the excavator to convert it to an amphibious excavator. Some major players operating in the market include Caterpillar Inc., AB Volvo, Bohr- & Rammtechnik Berlin GmbH, Doosan Group, EIK International Corp., EMU OY, Hitachi Construction Machinery Co., Ltd., J.C. Bamford Excavators Ltd., and XCMG Group.
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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