Published on : Apr 26, 2016
ALBANY, New York, April 26, 2016: The report provides the latest information on what drives the global excavator market and what hampers its growth rate, for now and in the foreseeable future. The report is thus an in-depth market analysis on the global excavator market. It is a reserve of data generated by understanding the various factors that influence this market, along with a list and details of all the key players associated with it.
Excavators are a key part of the global construction equipment industry. They are used for a wide array of jobs, including road and building construction, mining, and extraction.
According to the report, the key driver of the global excavator market is the rapidly increasing area under urbanization. As cities are growing in size and population, the need for excavation is increasing considerably for various construction reasons. The development of the economy allows the construction industry to gain more funds in order to build superior structures and a larger number of them, too.
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The report provides a special analytical discussion on hydraulic excavators in the global excavator market, over other types that also exist. Technological developments are also benefitting the global excavator market, as modern designs and engines are allowing the creation of energy-efficient excavators, along with the use of highly efficient hydraulic fluids and other innovations.
A major restraint to the global excavator market currently, is the high cost of maintenance associated with modern hydraulic excavators. Another restriction on the growth of the global excavator market is the regulatory pressure applied by governments over the use and production rates of excavators.
The report takes a look at the global excavator market from a geographic perspective, in which it reveals the regions that are influencing the growth rate of the market the most. The report states that there has been a downturn in the global excavator market, most of which was caused due to a decline in demand of hydraulic excavators in Japan, China, and other major regions of Asia and Oceania in 2015. The decline in the global excavator market was registered despite the increasing sales of hydraulic excavators in North America and Europe.
The report reveals the four key players of the global excavator market: Kobelco, Hitachi, Komatsu, and Caterpillar. Each player has been analyzed and then discussed in terms of their business and financial overviews. The report also takes a look at the major business strategies implemented by each company in the recent past and how the market has been shaped because of these decisions.
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