Entrepreneurial Opportunity: Mini Digger Business in the UK Market

This report provides an analysis of the entrepreneurial opportunity presented by a mini digger business, specifically focusing on the UK market. The introduction highlights the potential for a new company, People's Excavators, which aims to offer collapsible mini diggers suitable for residential use. The report evaluates the market attractiveness, citing the growing construction industry and the increasing demand for mini excavators. Market data, including size and growth projections, is presented, with references to industry reports. The conclusion emphasizes the fragmented nature of the market and the potential for People's Excavators to achieve success. The report includes charts illustrating market trends and concludes that the mini digger market is poised for growth, particularly in the hybrid excavator segment. This report is available on Desklib, a platform providing study resources for students.

ENTREPRENEURIAL
OPPORTUNITY

Table of Contents
INTRODUCTION...........................................................................................................................1
MARKET ATTRACTIVENESS.....................................................................................................1
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
Business of mini digger must be evaluated in a better way so that success may be
accomplished in initial years. People's excavator will be launched in the UK which will provide
mini diggers which can be collapsed or separated and then re-joint when entering in private
houses and suitable for gardens in houses for accomplishing work. This will help customers to
attain maximum satisfaction as small type of digging work can be done with it. Moreover,
company will be able to attain profits in initial stage. The market of construction will provide for
firm with increased profits. However, it will be required to implement well-defined strategies so
that market share can be garnered. The excavators market size is predicted to reach around $9.77
billion by the end of 2025 which was $7.23 billion in 2017 (Mini excavators market. 2018). This
means that firm will be able to attain success as market is progressive in nature.
MARKET ATTRACTIVENESS
The mini diggers are a part of excavator market. The size of market is expected to grow
to $8.43 billion worth by 2021. The investment in various infrastructure developments such as
manufacturing, power plants etc. will be injected up to a high extent. It can be analysed that
agriculture and markets of construction are the major users of mini diggers as they mainly use it
for attaining work with ease (Construction Statistics. 2017). Excavators are equipments which
consists of undercarriage and house with a bucket attached to its arm. Heavy machineries and
equipments are evolved because of technological advancement in recent years. It can be said that
business will be able to provide small diggers at low prices to attain competitive advantage.
Illustration 1: Excavators Market size Source: Industry Analysis Report, 2018 -2025
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The above chart reveals that in 2014 size of market was $5.06 billion which increased to
$5.25 in 2015. However, decline was found in 2016 up to some extent. The market again picked
up to healthy trend in 2017. Thus, it can be easily predicted that market will reach to more than
$9 billion by the end of 2025 in effective manner. Moreover, it can be analysed that mini diggers
are in great demand and business will be able to attain profits in the best way possible.
Illustration 2: Excavators Market Source: Global Mini Excavators Market 2017-2021
The chart provides that rapid increase in excavators market has led to attainment of
profits in effective manner. Mini excavators are gaining demand in the public as there is
immense transformation of public in effectual way. Moreover, maintenance of electric power and
gas supplies are provided in effective manner. Moreover, it can be assessed that mini diggers
market will register a CAGR (Compound Annual Growth Rate) of 4 % by the end of 2021. With
the growing demand of excavator which means that market will attain profits. In the present
scenario, firm will be able to attain profits up to a high extent as market of mini diggers seems to
accomplish growth of 1.3 billion by the end of 2021. The construction industry was major user of
it accounting for 67 % in 2016.
CONCLUSION
Hereby it can be concluded that market of small diggers will be popular mainly of hybrid
excavators in the near future. One of the main advantage of starting business as it is fairly
fragmented as competition is low as only few players are in the market. People's excavators will
be able to attain desired objectives in market of UK and profits will be accomplished in a better
way. Furthermore, customers will be satisfied and thus, business would secure good position in
the market.
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REFERENCES
ONLINE
Global Mini Excavators Market 2017-2021. 2018 [Online] Available Through:
<https://www.technavio.com/report/global-construction-global-mini-excavators-market>
Industry Analysis Report, 2018-2025. 2018 [Online] Available Through:
<https://www.grandviewresearch.com/industry-analysis/excavators-market>
Construction Statistics. 2017 [Online] Available Through:
<https://www.ons.gov.uk/businessindustryandtrade/constructionindustry/articles/
constructionstatistics/number182017edition>
Mini excavators market. 2018 [Online] Available
Through:<https://www.alliedmarketresearch.com/mini-excavators-market>
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