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Tuesday, May 31, 2022

Global Amphibious Vehicle Market to be Driven by Rising Adoption of Amphibious Vehicles in Mining Applications in the Forecast Period of 2022-2027

The new report by Expert Market Research titled, ‘Global Amphibious Vehicle Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global amphibious vehicle market, assessing the amphibious vehicle market based on its segments like mode of propulsions, applications, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

  • Historical Market Size (2021): About USD 2.91 billion
  • Forecast CAGR (2022-2027): 35%
  • Forecast Market Size (2027): Nearly USD 4.71 billion

The growth in the global market for amphibious vehicles can be ascribed to rising military and defence expenditure. Amphibious vehicles are increasingly deployed in military applications owing to their multiple use applicability as they can operate on the ground as well as in water. In addition, the rising demand for amphibious vehicles in mining and engineering applications has further inflated the market growth. In mining applications, amphibious vehicles are used to safely transport equipment across exposed ground surfaces with ease. In addition, as amphibious vehicles allow easy functioning in remote locations, materials can easily be transported without incurring additional costs. These are some of the factors determining the growth of the market in the historical period.

Industry Definition and Segmentation

Amphibious vehicles are referred to the vehicles capable of operating on both land as well as on a water body. Amphibious vehicles include amphibious bicycles, ATVs, railway vehicles, combat vehicles, and hovercraft, among others.

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On the basis of mode of propulsion, the market can be divided into:

  • Water-jet
  • Track-based
  • Screw propellers

The market, based on application, can be categorised into:

  • Surveillance and rescue
  • Water Sports
  • Water Transportation
  • Excavation

Based on end use, the market can be segmented into:

  • Defence
  • Commercial

The regional markets for amphibious vehicle include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

The rise in the global market for amphibious vehicles can be associated with increasing dwellings near water bodies. The increasing urbanisation has led to the increased adoption of amphibious vehicles by localities for leisure and work applications. In addition, the market is being driven by advancements in-vehicle technologies with unique features to penetrate through shallow areas where it would otherwise be difficult. Moreover, the increasing adoption of amphibious vehicles for commercial applications such as fishing, water-body cleaning, and beach security applications, among others, is further enhancing the growth of the market. These are some of the factors that are expected to invigorate the growth of the market over the forecast period.

Key Market Players

The major players in the market are BAE Systems plc, EIK Engineering Sdn Bhd, General Dynamics Corporation, Hitachi Construction Machinery Co., Ltd., Lockheed Martin Corporation, Marsh Buggies Incorporated, Wetland Equipment Company, Wilco Manufacturing LLC, Science Applications International Corporation, and Rheinmetall AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company’s expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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