- The key vendors in the Excavator Market in Germany 2014-2018 are Caterpillar Inc., J C Bamford Excavators Ltd. (JCB), Komatsu Ltd. and Volvo Group.
London, 28 October 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Excavator Market in Germany 2014-2018. One key trend upcoming in this market is the growth of the Equipment Rental business. Because of the high prices of excavators, vendors are providing equipment for rental as it is cost-effective to customers. Some major manufactures in the market have started providing their equipment on a rental basis to contractors and construction companies in Germany, which allows construction companies to use the equipment without major investment costs. The Excavator market in Germany is expected to grow at a CAGR of 3.94 percent during the forecast period of 2013-2018.
“There is huge demand for maintenance, repair, refurbishment, and upgrading of existing construction equipment in the market,” says Faisal Ghaus, Vice President of TechNavio Research.
“This is driving the growth of the Excavator market in Germany as these aftermarket opportunities are generating a considerable amount of revenue for vendors because of increased demand for repair and replacement of equipment and attachments.”
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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