- The key vendors in the excavator market in Malaysia 2015-2019 are Caterpillar, Hitachi Construction Machinery, JCB and Komatsu
London, 06 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the excavator market in Malaysia 2015-2019. Emergence of equipment rental services is one of the major trends being witnessed in the market. To meet the growing demand for earthmoving equipment in Malaysia, leading vendors such as Caterpillar and Volvo are offering rental services to their customers. Equipment can be rented by customers on a daily or annual basis. The excavator market in Malaysia 2015-2019 is estimated to grow at a CAGR of 8.92% during the period 2014-2019.
One of the major factors that is contributing the growth of market is government economic transformation program initiative. The ETP is aimed at reducing the housing deficit in the country, as a number of new residential projects were launched, which consequently boosted the growth of the construction market in the country, thereby directly contributing to the growth of the earthmoving equipment market.
“Construction companies worldwide are focusing extensively on sustainable practices. For instance, companies are trying to acquire green building certifications for their projects,” says Faisal Ghaus, Vice President of Technavio Research.
“Demand for energy-efficient earthmoving equipment, especially excavators, which consume less fuel than construction tractors and loaders has increased.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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