Dallas, Texas (PRWEB) March 02, 2014
Though several organizations across industries prefer the latest construction equipment technology to improve their productivity, several SMEs find it difficult to buy such equipment due to the high cost. The increasing competition among vendors is also forcing vendors to differentiate themselves by providing innovative and value-added services. Therefore, construction equipment vendors are offering excavators on lease. This allows cost-driven organizations in developing countries to opt for the latest construction equipment at minimal cost, thereby improving their operational productivity. Thus, the option of renting construction equipment encourages customers to use a wide range of excavators.
Analysts forecast the Excavator Market in China (http://www.sandlerresearch.org/excavator-market-in-china-2014-2018.html) will grow at a CAGR of 9.28 percent over the period 2013-2018. According to the report, most major vendors in the Excavator market in China such as Komatsu Ltd. and Caterpillar Inc. are foreign vendors. These foreign companies are making huge investments through the establishment of state-of-the-art manufacturing facilities, or by forming alliances with the existing local players or marketing companies. For instance, Caterpillar Inc. invested in 23 manufacturing facilities in China through Caterpillar (China) Investment Co. Ltd. to increase its investment in China. These investments are expected to help the growth of the market in the forecast period.
Further, the report states that one of the major challenges is the lack of product differentiation, which is needed to survive in the market's present competitive scenario.
The report recognizes the following companies as the key players in Excavator Market in China: Caterpillar Inc., Hitachi Construction Machinery Co., Komatsu Ltd., Sany Group.
Purchase Report @ http://www.sandlerresearch.org/purchase?rname=14923.
The other vendors mentioned in the report are Chongqing Qinniu Construction Machinery Co. Ltd., Dasin Heavy Machinery Co. Ltd., Doosan Group, Foton Lovol International Heavy Industry Co. Ltd., Guangxi Kaiyuan Machinery Manufacturing Co. Ltd., Guizhou Jonyang Kinetics Co. Ltd., Hunan Sunward Intelligent Machinery Co. Ltd., Ingersoll-Rand plc, JCB (Shanghai) Construction Machinery Co., Ltd., Jiangxi Nante Construction Machinery Co. Ltd., Kato Works Co. Ltd., Kobelco Construction Machinery Co. Ltd., Shandong Joyo Construction Co. Ltd., Shandong Lishide Machinery Co. Ltd., Takeuchi Qingdao Construction Machinery Co. Ltd., Terex Corp., Volvo Construction Equipment Co. Ltd., World Group, XCMG, Xiamen XGMA Construction Machinery Co. Ltd., and Zhejiang Hero Time Machinery Co. Ltd.
The crawler excavator is the fastest selling earth moving equipment in India. In 2013, a total of 16,141 units of crawler excavators were sold. This figure is estimated to increase to 50,091 units by 2018. The increasing growth of the Crawler Excavator segment of the Excavator market in India (http://www.sandlerresearch.org/excavator-market-in-india-2014-2018.html) is attributed to the rising demand for 20 ton and 30 ton crawler excavators that are widely used in the Construction and Mining industries.
Analysts forecast the Excavator market in India to grow at a CAGR of 21.98 percent over the period 2013-2018. According to the report, one of the major growth drivers in the market is the increasing investment in infrastructure projects by the government of India. The investment in infrastructure projects has been estimated to be US$1 trillion during the 12th five-year plan (2012-1017).
Purchase Report @ http://www.sandlerresearch.org/purchase?rname=13860.
Further, the report states that effective product differentiation helps vendors survive in an intensely competitive market, as is the case with the Excavator market in India. Vendors in the market are trying to differentiate their products by providing additional support and services. This method of differentiating products requires large investments in R&D, but return of investment in R&D takes a long time. Moreover, obtaining capital for conducting R&D is one of the main constraints for any vendor.
The report recognizes the following companies as the key players in Excavator Market in India: Bharat Earth Movers Ltd. (BEML), Caterpillar Inc., Hyundai Construction Equipment India Pvt. Ltd., JCB India Ltd., L&T Construction Equipment Ltd., and Tata Hitachi Construction Machinery Co. Ltd.
Other vendors mentioned in the report are Bharat Earth Movers Ltd., Caterpillar Inc., Doosan Corp., Escorts Construction Equipment Ltd., Ingersoll-Rand plc, JCB India Ltd., Kobelco Construction Machinery Co. Ltd., Leyland Deere , Mahindra & Mahindra Ltd., Terex Corp., and Volvo Construction Equipment.
Other Reports on Construction Equipment Market:
Construction Equipment Market in Europe 2014-2018 @ http://www.sandlerresearch.org/construction-equipment-market-in-europe-2014-2018.html
Construction Equipment Market in Indonesia 2014-2018 @ http://www.sandlerresearch.org/construction-equipment-market-in-indonesia-2014-2018.html
Construction Equipment Market in the APAC Region 2014-2018 @ http://www.sandlerresearch.org/construction-equipment-market-in-the-apac-region-2014-2018.html
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