Malaysia Crawler Excavator Market Size by Volume to Reach 2,768 Units by 2027 - Arizton

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Aug 12, 2021, 13:00 ET

CHICAGO, Aug. 12, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this Malaysia crawler excavator market report.

The Malaysia crawler excavator market is expected to grow at a CAGR of over 7.84% during the period 2021−2027.

Key Highlights Offered in the Report:

1. The market value is expected to reach USD 269.6 million by 2027, growing at a CAGR of 7.80% during the forecast period.

2. Malaysia's economy contracted by 5.6% in 2020 due to a sharp slowdown in economic activities caused by COVID 19. The construction and mining sectors were severely hit by the pandemic; the decline in both sectors was 8.8% and 10%, respectively, in 2020. The manufacturing sector declined by 2.6% in 2020 due to the unavailability of raw materials and shortage of labor.

3. Malaysia is an attractive FDI destination for investment in the manufacturing and service sectors. In 2020, the country's FDI inflow stood at USD 3.2 billion. Although the FDI inflow has decreased due to the pandemic, it is expected to grow in the coming years due to government policies such as allowing 100% foreign investment in manufacturing and other service sectors. The manufacturing sector attracts 55.6% of FDI, followed by the service sector at 40.7%. Rest ~4% is accounted by the agriculture and mining sectors.

4. Malaysia is a profit center in Asia. It offers a favorable investment climate to organizations wanting to do business. Malaysia is in the second position in ease of doing business among Asian countries

5. Government's initiative of collaborating with the financial institution to roll out a rent-to-own program is one of the driving forces in the rise in the demand for housing in the future.

6. Government started various programs such as People's Housing Program, Rumah Meshra Rakyat and Perumahan Penjawat Awam to support the lower-income class buyers. Government plans to build 1 million housing units to cater to homebuyers in the low-income bracket by the end of 2029.

7. Government is focusing on improving infrastructure by increasing fund allocation and approving various projects. Apart from this, spend on transport infrastructure will increase the sale of construction equipment. In 2020, the government approved seven major projects with an investment of RM 432.5 million, of which 91.3% comes from domestic sources. USD 3.59 billion (RM 15 billion) allocated for transport infrastructure projects including Pan Borneo Highway, Gemas- Johor Bahru project, and Kelang Valley Double Track project. The mass Rapid Transit 3, the Johor Bahru-Singapore Rapid Transit System, the Penang Transport Master Plan are some of the key projects that have started in 2021 and are expected to be completed by the end of 2026.

Key Offerings:

Market Size & Forecast by Revenue | 2021−2027
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by excavator type and operating weight, application, and gross power output
Competitive Landscape – 9 key vendors and 5 other vendors

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Malaysia Crawler Excavator Market – Segmentation

Mini excavators are widely used in various construction fields such as road, municipal works, pipeline networks, gardening, and sand water conservancy, combined with the use of multiple attachments. They are feasible to transport due to their small size and light weight and can operate in small spaces.
Malaysia's crawler excavator market by mining accounts for 18.2% of the overall crawler excavator market. With the emergence of new technology and use of automation in excavators will increase growth of mining industries. As with help of automation the excavator can operated with remote which will increase safety and efficiency of the operators.
Malaysia's 61 HP-101 HP crawler excavator market is expected to reach 345 units by 2027, growing at a CAGR of 8.14%. This category of excavators is widely used for commercial construction projects or used in finished sites and provides better service than mini excavators.

Malaysia Crawler Excavator Market by Excavator Type and Operating Weight

Mini (>6 tons)
Small (7-25 tons)
Medium (26-40 tons)
Large (above 40 tons)

Malaysia Crawler Excavator Market by Application

Construction
Mining
Agriculture
Forestry
Others

Malaysia Crawler Excavator Market by Gross Power

61-101 HP
102-200 HP
>201 HP

Malaysia Crawler Excavator Market – Dynamics

Due to rapid urbanization, the demand for housing is bound to increase in the future. Government's initiative of collaborating with the financial institution to roll out a rent-to-own program is one of the driving forces in the rise in the demand for housing in the future. Government started various programs such as People's Housing Program, Rumah Meshra Rakyat and Perumahan Penjawat Awam to support the lower- income class buyers. Government plans to build 1 million housing units to cater to homebuyers in the low-income bracket by the end of 2029. Government has allocated $0.2 billion (RM 1.2 billion) for housing development in the 2021 budget plan. The construction sector, which is a part of the service industry, accounts for 46.9% of the total investment approved for the service industry.

Key Drivers and Trends fueling Market Growth:

Growth in residential construction
Increasing government focus on development of transport infrastructure
Focus on waste management can provide good returns
Growing demand for green buildings is expected to boost the demand for crawler excavators

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Major Vendors

Caterpillar
Komatsu
Hitachi
Hyundai Construction Equipment
Sany
Volvo Construction Equipment
Doosan
Kobelco
JCB

Other Prominent Vendors

Kubota
Sumitomo
Leeboy
Ingersoll Rand
XCMG

Explore our industrial machinery profile to know more about the industry.

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SOURCE Arizton Advisory & Intelligence