Excavators are primarily divided into four types: crawler excavators, wheeled excavators, mini excavators, and long-reach excavators. These machines are widely used globally, especially in construction, mining, agriculture, and infrastructure development. The publisher analyzes the main exporters of excavators in the Asia-Pacific region and worldwide include Japan (Komatsu, Hitachi Construction Machinery, and Kobelco), the USA (Caterpillar and John Deere), and South Korea (Doosan and Hyundai).
According to the publisher, in Vietnam, the rapid economic development, particularly in the manufacturing, real estate, and infrastructure sectors, has spurred the growth of the construction industry. In the first quarter of 2024, the construction industry contributed 6.8% to Vietnam's GDP. The Vietnamese government annually promotes around 100 infrastructure projects, including roads, bridges, ports, and railways, involving numerous foreign and local construction contractors. This has led to a rising demand for excavators in Vietnam. The booming residential, industrial, and commercial real estate markets in Vietnam have also driven the demand for excavators based on the publisher's analysis, as new construction projects require significant earthmoving work.
According to the publisher, the demand for excavators in Vietnam has been rapidly increasing with the expansion of infrastructure and real estate development. Vietnam has limited domestic production capacity for excavators but high construction demand, relying heavily on imports, including a large number of affordable second-hand excavators. With the rapid economic development, urbanization, and continuous improvement of infrastructure, the demand for excavators in Vietnam is expected to keep growing, driving the increase in excavator imports.
The publisher data shows that the total import value of excavators in Vietnam exceeded US$ 300 million in 2023, and from January to May 2024, the import value has already surpassed US$ 160 million, showing an upward trend.
The publisher concludes that from 2021 to 2024, the main sources of Vietnam's excavator imports include Japan, China, and South Korea. Key companies exporting excavators to Vietnam include Komatsu Ltd, Kobelco Construction Machinery Southeast Asia Co., Ltd., and Nanning Senshun Trading Co., Ltd. There are many manufacturers and import-export traders involved.
The primary importers of excavators in Vietnam are construction contractors, construction equipment dealers, and other related enterprises. According to the publisher, both local and foreign enterprises are involved, including companies such as 911 Foundation Equipments, Binh Minh Investment Equipment, and Hoang Giai Co., Ltd.
Overall, with the growth of Vietnam's population, the development of the manufacturing and construction industries, and the ongoing urbanization, the demand for excavators in Vietnam is expected to continue increasing. The publisher forecasts that in the coming years, the import volume of excavators in Vietnam will continue to grow.
Topics covered:
- The Import and Export of Excavator in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Excavator in Vietnam (2021-2024)
- Total Import Value and Percentage Change of Excavator in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Excavator in Vietnam (January-May 2024)
- Total Import Value and Percentage Change of Excavator in Vietnam (January-May 2024)
- Average Import Price of Excavator in Vietnam (2021-2024)
- Top 10 Sources of Excavator Imports in Vietnam and Their Supply Volume
- Top 10 Suppliers in the Import Market of Excavator in Vietnam and Their Supply Volume
- Top 10 Importers of Excavator in Vietnam and Their Import Volume
- How to Find Distributors and End Users of Excavator in Vietnam
- How Foreign Enterprises Enter the Excavator Market of Vietnam
- Forecast for the Import of Excavator in Vietnam (2024-2033)
Table of Contents
Companies Mentioned
- Komatsu LTD
- KOBELCO CONSTRUCTION MACHINERY SOUTHEAST ASIA CO. LTD.
- NANNING SENSHUN TRADING CO LTD.
- 911 FOUNDATION EQUIPMENTS
- BINH MINH INVESTMENT EQUIPMENT
- HOANG GIAI CO LTD
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | August 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 384 Million |
| Forecasted Market Value ( USD | $ 724 Million |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 6 |
