The demand for excavators is underpinned by several macro and micro economic factors affecting the sectorial growth across various countries, according to TechSci Research. Macro-economic factors such as crude oil prices, inflation, exchange rate fluctuation, interest rates and cash liquidity. In 2015, the global excavator market, which is segmented into mini and heavy categories, suffered. Slump in the crude oil prices has affected the construction sector across the countries, which derive substantial volume of their revenue from the oil sector. Slowdown in the construction sector has impacted the demand for new excavators. As per the IMF forecast, crude oil prices are anticipated to stabilize by 2017, which is likely to support the construction sector of several countries, thereby supporting the demand for excavators. Additional challenges include evolving emission regulations across various European and North American countries. The hydraulic excavator market will grow steadily during the next four years and post an impressive revenue of more than USD60 bn by 2021. Mexico, Indonesia, Nigeria, and Turkey (MINT) countries are primary growth markets for this sector, according to Technavio Research. Infrastructure development projects announced by these countries accounts for about 15 percent of the global projects, valued at almost USD54 bn. The key factors driving the growth of the excavator industry are rising urbanization, growth in construction expenditure and growing economy. Some of the noteworthy trends and developments of this industry are growing demand for fuel-efficient excavators, and high efficiency hydraulic fluids. Rise in infrastructure developments and rapid urbanization in emerging regional economies and increased mining activities in countries such as China, will drive the market's growth prospects in this region. Further, several oil dependent economies such as Angola, Saudi Arabia, UAE, Kuwait, Qatar, are likely to gain momentum in the development of their construction sector in coming years, according to TechSci Research. The growth of the construction industry has led to the entry of new vendors in the excavator market. Increasing investments from China towards developing and adopting new technologies that will boost machine performance and reliability will further intensify the market's competitive environment. Zion Market Research has published a new report titled "Amphibious Excavators Market for Construction, Mining, and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 - 2020." According to the report, the global amphibious excavators market accounted for USD3.19 Bn in 2014 and is expected to reach USD5.66 Bn by 2020, growing at a CAGR of around 10.8 percent between 2015 and 2020. Excavators can be employed in numerous application such as digging of trenches, holes, foundations, material handling, forestry work, demolition, mining, river dredging, drilling shafts for footings and rock blasting, snow removal with snow plow and snow blower attachments. Amphibious excavators are excavator that use to float as well as does terrestrial digging activity and are adapted for removing silty clay, clearing silted trenches, swampland operation, and low water area. Anticipated stabilization in crude oil prices coupled with revival in construction and mining sectors is to buoy growth in the global excavator market over the next five years global excavator market and is forecast to grow at a CAGR of over 6 percent during 2016-2021, according to TechSci Research. The leading excavator vendors in the market are: Caterpillar, Hitachi Construction Machinery, Komatsu, Volvo Construction Equipment, and Xuzhou Construction Machinery Group. Other prominent vendors in the market are Terex Construction, Liebherr, John Deere, SANY, Doosan Infracore, Zoomlion, JCB, Kobelco Construction Machinery, and Metso.