May 29, 2024
Amphibious Excavator Market
Ict

Amphibious Excavator Market Riding New Wave of Flexible Construction by Increased Hydraulic Capabilities

The amphibious excavator is an excavating equipment that operates both on land and in water. It is equipped with hydraulic tracks or wheels that allow navigation through swamplands, marshes and shallow waters. Amphibious excavators find widespread applications in infrastructure development projects near water bodies, coastal protection activities, dredging, offshore construction and mining.

The global amphibious excavator market is estimated to be valued at US$ 17.08 Billion in 2024 and is expected to exhibit a CAGR of 11% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the Amphibious Excavator Market Demand are EIK International Corporation, Ultratrex Machinery SDN. BHD., Wetland Equipment Company, Hitachi Construction Machinery Co., Ltd. (HCM), Gulf Coast Specialty Energy Services (GCSES), Remu Oy, TSBC Engineering SDN BHD, Doosan Infracore’s Construction Equipment, Marsh Buggies Incorporated (MBI), Waterking BV, MBI Marsh Equipment, Sany Chemical, LT Construction Mining Machinery, Caterpillar, FROGCO Amphibious Equipment Inc., Hyundai, and SUNTON. The growing demand from coastal and waterfront development projects and rise in demand for amphibious excavators from the mining sector are fueling market growth. The manufacturers are expanding their global footprint through collaborations with regional dealers to cater to the rising worldwide demand for amphibious excavators.

Market key trends

One of the key trends gaining traction in the amphibious excavator market is the increasing focus of OEMs on integrating advanced technologies to improve the efficiency and hydraulic capabilities of these excavating equipment. Several manufacturers are focusing on designing amphibious excavators equipped with sensor-based technologies, telematics, advanced hydraulics and GPS systems. These upgrades help operators to work effectively even in challenging underwater conditions with higher penetration, rotation and reach capabilities. The advanced technology upgrades are also enabling precise excavating and dredging operations from amphibious excavators.

Porter’s Analysis

Threat of new entrants: High capital requirement for manufacturing amphibious excavators limits threat of new entrants.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and differentiated products from various vendors.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and presence of several component manufacturers.

Threat of new substitutes: Threat of substitutes is low as amphibious excavators have unique ability to operate on land and water.

Competitive rivalry: Intense competition exists among existing vendors to gain higher market share.

Geographical regions:

North America region accounted for largest share in amphibious excavator market in terms of value in 2024 due to extensive infrastructure development activities. Countries like U.S. and Canada are major revenue generators.

Asia Pacific region is expected to witness fastest growth during forecast period 2024-2031. Rapid industrialization and infrastructure development in countries like China and India will propel demand. Supportive government initiatives for construction and mining sectors also supplements market growth.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it