Vietnam Crawler Excavator Marketplace Evaluate & Forecast

Dublin, April 22, 2025 (GLOBE NEWSWIRE) — The “Vietnam Crawler Excavator Marketplace – Strategic Evaluate & Forecast 2024-2029” document has been added to ResearchAndMarkets.com’s providing.

The Vietnam Crawler Excavator Marketplace used to be sized at 1,524 gadgets in 2023, and is projected to succeed in 1,974 gadgets through 2029, emerging at a CAGR of four.41%.

Small and medium-sized excavators ruled the Vietnam crawler excavator marketplace in 2023. Because of rising funding in public infrastructure, together with the delivery sector, crawler excavator gross sales are anticipated to develop ceaselessly in 2024.

The weakening of Vietnam’s native foreign money, the Dong, is predicted to have an effect on additional heavy apparatus gross sales, together with excavators, within the Vietnam marketplace in 2024. The foreign money’s wakening will even have an effect on the expanding charge of excavators, as Vietnam majorly is dependent upon imports of excavators.

The marketplace for small and medium excavators within the Vietnamese crawler excavator marketplace is robust because of their in depth use in city building initiatives.

Chinese language producers have a powerful presence within the Vietnam crawler excavator marketplace. In 2024, SANY had the most powerful marketplace proportion amongst Chinese language gamers.

Liugong has established its 3rd subsidiary in Southeast Asia, with the reputable opening of Liugong Vietnam Corporate in Hanoi.

The area’s govt permits duty-free import of crawler excavators. The rustic depends upon uploading building equipment, together with excavators from China, the U.S., Japan & Korea.

In 2023, Vietnam arranged the Nationwide Inexperienced Hydrogen Summit to discover advances within the nation’s inexperienced hydrogen sector.

Greater Funding in Public Infrastructure Initiatives

• In 2024, the Ministry of Shipping in Vietnam drafted a highway and freeway building plan. The dept aimed to attach all highways to primary political facilities, key financial areas, seaports, and world airports. The objective is to extend this to three,000 kilometers through 2025 and 5,000 kilometers through 2030. In 2024, some other 674 kilometers of highways had been finished throughout 15 provinces and towns, bringing the full to two,001 kilometers.
• The federal government has deliberate to speculate ~USD 17 billion in highway infrastructure in 2024. The undertaking funding is deliberate below the PPP (Public Personal Partnerships) Fashion. The ministry additionally encourages native government to use for reputable building help and state budgets.
• Via 2050, the Vietnam govt needs to be carbon impartial. The federal government is emphasizing the use of renewable power assets, corresponding to encouraging the usage of electrical vehicles within the transportation sector, reducing using fossil fuels, and putting in sun panels on structures to generate electrical energy.

MARKET TRENDS & DRIVERS

Scarcity of Hard work Triggers Excavator Supplied With Automation & Good Operation Era

Vietnam faces serious hard work shortages in more than a few industries, corresponding to building, production, and mining. The rustic extremely is dependent upon migrant employees from Indonesia, Thailand, and Bangladesh. Additionally, the rustic witnessed a pointy decline within the hard work power within the production and building industries in 2023. The dearth of work forces triggers the call for for fresh applied sciences within the Vietnam crawler excavator marketplace to extend employees’ potency and scale back the dependency on laborers. For example, main building apparatus corporate Hitachi introduces wheel loaders and excavators with automation, sensible operation generation & Consite Hitachi Complete System Control fortify machine.

Advent of Twin Excavator in Vietnam Crawler Excavator Marketplace Because of Its Versatile Makes use of

• The Chinese language producer XCMG offered dual-use diggers and unusual peach shovels within the excavator. This apparatus has the exceptional good thing about running multipurpose at a time, like a series hoe and wheel hoe, through switching between the chain and tire. It’s broadly used within the building and production industries in Vietnam.
• In 2023, XCMG introduced twin excavators that had been extraordinarily versatile, cost-efficient, and simple to move. Chinese language firms have lately received just right marketplace proportion because of their leading edge merchandise, low costs, and very good after-sale services and products. The advent of twin excavators helps the expansion of Chinese language firms within the area’s marketplace.

Upward push in Infrastructure Funding Initiatives

• In 2024, the area’s govt plans to speculate over USD 25 billion in more than a few public infrastructure initiatives national. The federal government’s infrastructure initiatives depend on 3 funding channels (home, international, and personal). A considerable amount of funding is deliberate for the delivery sector, as funding within the delivery business will scale back industry logistics prices and build up the competitiveness of companies and the economic system. Funding in more than a few initiatives is projected to fortify the expansion of the Vietnam crawler excavator business.
• The area’s govt deliberate 34 large infrastructure initiatives throughout 46 provinces in 2024. As well as, the federal government additionally deliberate 5 railway initiatives, two airports, & a number of highway, highways, and ring roads building initiatives within the Hanoi Capital area, Ho Chi Minh Town Vi, and so on.
• The Ministry of Shipping has deliberate to hurry up the development of 3 very important delivery initiatives: the Dau Giay – Tan Phu Parkway, the Cho Moi – Bac Kan Parkway, and the Lo Te – Rach Soi Parkway in 2024.

Surge in Funding within the Renewable Power Sector

• In keeping with the Institute of Power of Vietnam (IEV), Vietnam faces a surge in energy call for and intake over the approaching decade. The Govt of Vietnam expects energy intake to develop 10-12 % once a year through 2030. Due to this fact, the federal government will increase its focal point on renewable power sources to meet the rising energy call for.
• In keeping with the International Financial institution, Vietnam has a top doable to generate solar power; in 2023, the rustic generated 17,000 megawatts (MW) of solar power, which is predicted to develop in 2024 because of more than a few govt tasks to supply tax advantages and subsidies for putting in solar energy technology gadgets.

INDUSTRY RESTRAINTS

Vietnam Forex Depreciation Affects Imports

• Vietnam totally depends upon the import of building apparatus, together with crawler excavators from China, Japan, Korea & US. In 2024, the trade fee repeatedly larger, thereby impacting the rustic’s imports.
• Because the starting of 2024, Vietnam’s foreign money has depreciated through 4.9% in comparison to USD. The depreciation of the area’s foreign money makes imports pricey and will negatively have an effect on the call for for crawler excavators.
• More than a few world disruptions, together with the Israel- Hamas warfare, impacted oil costs, inflationary pressures, rate of interest hikes, and provide chain disturbances. Those demanding situations are impacting the rustic’s imports in 2024. In keeping with govt knowledge, system and gear imports declined 8% in 2023. Equivalent traits are anticipated to proceed in 2024 because of the continual depreciation of the Vietnamese foreign money.

Professional Hard work Scarcity Hampering the Business’s Enlargement

• In 2023, there used to be a surge in iron and metal costs within the Vietnam marketplace. The costs of establishing fabrics, together with iron and metal, larger through 30% to 40%, pushing the rustic’s general charge of actual property initiatives up. Building fabrics, corresponding to asphalt, larger through 9% to ten%, and cement costs larger through 3-5% within the area’s marketplace in 2023.
• Expanding construction subject material costs lift actual property costs, adversely impacting the call for for low-income other folks. The pointy build up in construction subject material costs is because of a mismatch between call for and provide. The call for for construction fabrics larger exponentially in 2023 because of emerging govt funding in infrastructure and housing initiatives around the nation.
• The cost of building initiatives larger through 30-35% in 2023, hampered undertaking of completion on scheduled time because of money crunches. Some contractors had been pressured to forestall building and turn to building of non-steel fabrics corresponding to wooden, and so on.

VENDOR LANDSCAPE

• Caterpillar, Kobelco, SANY, Hitachi Building Equipment, and Komatsu are leaders within the Vietnam crawler excavator marketplace. Those firms have robust marketplace proportion and be offering various units of apparatus.
• Kubota, Liu Gong, Yanmar, JCB, Airman, and Bobcat are area of interest gamers within the Vietnam crawler excavator marketplace. Those firms be offering low product diversification and feature a powerful presence within the native Vietnamese marketplace.
• Volvo Building Apparatus, SDLG, Zoomlion, Yuchai, John Deere Hyundai Building Apparatus, and XCMG are rising within the Vietnam crawler excavator marketplace. Those firms are introducing new technologically complex merchandise to problem the marketplace proportion of marketplace leaders within the nation’s marketplace.
• Sumitomo, Shantui, Wacker Neuson, and Develon are stragglers within the Vietnam crawler excavator marketplace. Those firms most often lack leading edge and complex product generation in comparison to competition.

Main Distributors

• Caterpillar
• Komatsu
• Volvo Building Apparatus
• Hitachi Building Equipment
• Kubota
• SANY
• JCB
• Xuzhou Building Equipment Staff (XCMG)
• Kobelco
• Zoomlion Heavy Business Science & Era Co., Ltd.
• Hyundai Building Apparatus

Different Outstanding Distributors

• Liugong
• Yanmar
• Sumitomo Building Equipment Co. Ltd.
• Takeuchi
• Bobcat
• AIRMAN
• Shandong Lingong Building Equipment
• Develon

Distributor Profiles

• Building Equipment Hoang GIA
• BinhLoi Co, Ltd
• T&C Equipment & Portions JSC

KEY QUESTIONS ANSWERED

• How large is the Vietnam crawler excavator marketplace?
• What’s the expansion fee of the Vietnam crawler excavator marketplace?
• Who’re the important thing gamers within the Vietnam crawler excavator marketplace?
• Which can be the main distributor firms within the Vietnam crawler excavator marketplace?
• What are the traits within the Vietnam crawler excavator business?

Key Attributes:

Key Subjects Coated:

Phase 1 – Analysis Method

Phase 2 – Analysis Goals

Phase 3 – Analysis Procedure

Phase 4 – Advent
4.1 Marketplace Protection
4.2 File Scope

Phase 5 – Marketplace at Look
5.1 Marketplace Evaluation
5.2 Marketplace Snapshot

Phase 6 – Govt Abstract

Phase 7 – Marketplace Panorama
7.1 PESTEL Research
7.2 Financial Situation
7.3 Marketplace Dynamics
7.4 Key Financial Areas
7.5 Import & Export Pattern Research
7.6 Provide Chain Research

Phase 8 – Segmentation
8.1 Via Measurement
8.1.1 Apparatus Definition
8.1.1.1 Mini Excavator
8.1.1.2 Small Excavator
8.1.1.3 Medium Excavator
8.1.1.4 Massive Excavator
8.2 Via Gross Energy
8.2.1 Apparatus Definition
8.2.1.1 Much less Than 60 Hp
8.2.1.2 60 Hp-100 Hp
8.2.1.3 101 Hp-200 Hp
8.2.1.4 Above 200 Hp
8.3 Via Finish-user
8.3.1 Finish-user Definition
8.3.1.1 Building
8.3.1.2 Agriculture
8.3.1.3 Mining
8.3.1.4 Forestry
8.3.1.5 Others (Waste Control, Agriculture, Oil & Fuel Extraction, Utilities & Power, Energy Technology, Crisis Control & Water Control)

Phase 9 – Geographic Research

Phase 10 – Era Construction

Phase 11 – Aggressive Panorama
11.1 Aggressive Panorama Evaluation
11.2 Outstanding Distributors
11.3 Different Outstanding Distributors
11.4 Distributor Profiles

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• Vietnamese Crawler Excavator Marketplace