TechNavio recognizes the following companies as the key players in the Construction Equipment Market in the APAC Region: Caterpillar Inc., Komatsu Ltd., and Sany Group Co. Ltd.
Commenting on the report, an analyst from TechNavio’s team said: “Though several organizations across industries prefer latest construction equipment technology in order to improve their productivity, several SMEs find it difficult to buy such equipment because of the high cost. In addition, the increased competition among vendors is forcing vendors to differentiate themselves from other vendors by providing innovative and value-added services. Therefore, construction equipment vendors are offering equipment on lease. Hence, some construction equipment vendors have started offering equipment such as excavators, wheel loaders, motor graders, crawler cranes, truck cranes, and truck mounted cranes on a rental basis. This allows cost-driven organizations in developing countries to opt for the latest technology construction equipment at minimal cost, thereby improving their operational productivity. Thus, the option of renting construction equipment encourages customers to use a wide range of construction equipment.”
According to the report, the Infrastructure industry in key developing countries such as China, India, and South Korea is expected to attract a high level of investment based on its various planned construction projects to develop the countries’ transportation, housing, and energy infrastructure facilities.
Further, the report states that a major challenge in the market is the increasing cost of construction equipment. The prices of construction equipment are increasing due to the rising prices of raw materials.
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/construction-equipment-market-in-the-apa…
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 -Construction Equipment Market in the APAC Region 2014-2018
