TechNavio recognizes the following companies as the key players in Machinery Market in Japan: Caterpillar Inc., Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., and Kubota Corp.
Commenting on the report, an analyst from TechNavio’s team said: “In Japan, agriculture is being increasingly carried out in urban areas across the nation. In fact, urban agricultural output accounted for one-third of the total agricultural output, and urban farmers accounted for 25 percent of the overall farmers in Japan. In Tokyo, urban agricultural output provides food grains for more than 700,000 residents. It also helps in reducing transport time for agricultural output from rural areas and maintains a balanced ecosystem. As a result, with increasing urban agriculture, the demand for agricultural equipment is on the rise, thereby contributing to the growth of Machinery market in Japan.”
According to the report, the Machinery market in Japan is driven by several factors; one such driver is the increasing growth in the construction industry. The rise in the construction of roads, railways, ports, and airports has led to higher demand for construction equipment such as earthmoving machinery, cranes, road machinery, and concrete machinery.
Further, the report states that one of the major challenges is the high total cost of ownership because of the increasing price of iron and steel used in the assembly of construction equipment such as backhoe loaders, crawler excavators, and mobile cranes, which require huge amounts of steel and iron.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/machinery-market-in-japan-2014-2018
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-and-automation
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TechNavio Announces the Publication of its Research Report – Machinery Market in Japan 2014-2018
