“Despite a moderate decline in 2013, the market embarked upon a further period of sustained growth over the next three years, culminating in a new peak of 15,400 units in 2016. Sales dipped marginally in 2017, but during the next four years rose unabated to reach approximately 20,500 units in 2021, the highest volume ever recorded,” said the report.
It continued, “Whilst many observers believe the market is now overheated, significant ongoing investment in the construction, landscaping and digital infrastructure sectors will continue to underpin a high level of demand for mini excavators in the short to medium term. Furthermore, the ongoing issue surrounding the lack of manual labour in the construction and landscaping sectors is unlikely to be resolved any time soon, which itself will continue to sustain a high level of replacement business.
Suppliers interviewed by Off-Highway Research for the purposes of this report are confident that the market will remain close to current levels in 2022, despite delivery delays and supply chain issues that are expected to impact the sector well into 2023. In the longer term, the market is likely to undergo a modest decline as demand returns to what might be considered a more normal level, although it is feasible that annual sales could still remain above 17,000 units.”
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