The excavator market in Japan was valued at almost $5 billion in 2016 and is expected to surpass $9 billion by 2021, says Technavio.
Technavio has announced its latest market research report on excavators for the forecast period, 2017-2021. This market analysis, under the embedded systems vertical, discusses the major drivers and emerging trends that will influence the growth of the excavator market in Japan over the next four years. Some of the top vendors listed in this industry analysis include Hitachi Construction Machinery, Kobelco Construction Machinery, and Komatsu.
“The manufacturers are launching global positioning system (GPS) and other satellite remote monitoring systems in excavators. These systems help to monitor the performance and efficiency of equipment outside of the construction site. Remote monitoring allows operators to track multiple machines from any location and guide them to perform tasks that include accelerating, steering, braking, and avoiding obstacles. This system helps construction companies and contractors to monitor machine location via GPS, machine history, current machine hours, machine idle time, maintenance information, and alarm fault history,” says Navin Rajendra, a lead analyst at Technavio for embedded systems.
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The new industry research report from Technavio analyzes the top three drivers responsible for the growth of this market and its sub-segments.
Large-scale infrastructure development
Japan is witnessing large-scale infrastructural developments as it is to host the Olympic Games in Tokyo in 2020. Some of the large-scale construction activities include construction and improvement of Olympic stadiums, arenas, integrated sports complexes, transit systems, and modernization of airports. The government is investing in projects to combine legacy buildings with new facilities to house athletes and host events. For instance, the Tokyo Vision 2020 is a long-term infrastructure development program implemented by the Government of Japan in 2015.
Vertical growth in construction industry
The rapid urbanization and economic growth are resulting in the construction of skyscrapers in several cities in Japan. These structures act as landmarks and attract successful domestic and foreign enterprises. The new high-rise developments are office buildings and are confined to the capital city of Tokyo. The excavators are used for land clearance and landscaping tasks during the completion stages of these buildings. The rise in the number of skyscrapers will lead to the development of this market during the forecast period.
Development of healthcare facilities and disaster prevention projects
The Government of the country is undertaking various initiatives for the development of healthcare facilities and disaster prevention, as the country is prone to earthquakes. The Government of Japan has planned to implement disaster management projects that help to mitigate the risks associated with earthquakes.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Excavator Market in Japan 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Hydraulic Manifold Market in the UK 2016-2020
- Global Hydraulic Equipment Market for Mobile Applications 2016-2020
- Earth Moving Equipment Market in Saudi Arabia 2016-2020
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