Sarasota, FL — (PRESS RELEASE JET) — 11/06/2017 — According to the report, the global amphibious excavators market accounted for USD 3.19 Billion in 2014 and is expected to reach USD 5.66 Billion by 2020, growing at a CAGR of around 10.8% between 2015 and 2020.
Excavator is hydraulic equipment that is primarily employed in heavy construction and mining industries. Amphibious excavator is a special kind of excavator that use to float as well as does terrestrial digging activity. Amphibious excavator is mainly used to dredge the underwater, shallow areas. They are adapted for removing silty clay, clearing silted trenches, swampland operation, and low water area. They are the best alternatives to traditional ship-mounted dredgers.
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Amphibious excavators have two main sections, one is house and other one is undercarriage. The house consist of operator cab, counterweight, engine, fuel and hydraulic oil tanks. The undercarriage consists of the blade (if fitted), tracks, track frame, and final drives, which have a hydraulic motor and gearing providing the drive to the individual tracks. Both the sections are attached to each other through center pin. High pressure oil is supplied to the tracks’ hydraulic motors through a hydraulic swivel at the axis of the pin, allowing the machine to slew at 360° smoothly. Amphibious excavator market is capital intensive which may be a restraining factor for the market. Nonetheless, companies focusing on development and of innovative products are expected to open new avenues for the market.
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Construction was the latest application segment of the amphibious excavator market in 2014 owing to the increasing infrastructural activities across the globe. Mining was another significant segment accounting for over 15% market share in the market in 2014.
Asia Pacific was the dominant regional segment of the amphibious excavator market in 2014. It accounted for around 70% of the global amphibious excavator market. Rising disposable income coupled with government schemes and support for heavy constructions like roads, bridges, dams, railway platforms, etc. is likely to contribute to continuing to Asia Pacific as a fastest growing market for amphibious excavator market.
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Key players in the market include EIK Engineering, MBI Marsh Equipment, L&T Construction & Mining Machinery, Sany Chemical, TSBC Engineering Sdn. Bhd and Ultratrex among others. There are a few companies that dominate the market. The key strategy of companies in this market includes the development of innovative products.
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