Vendors to focus on the acquisition of new players to gain market shares.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global compaction equipment market in their latest research report. This report also lists 16 other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The global market for compaction equipment is led by a few dominant players. Asia is the key revenue contributing geographical segment of the global market owing to the increased focus on infrastructural development by governments in the region. Furthermore, industry analysts at Technavio foresee a surge in the investments in the APAC countries. During the forecast period, vendors in the market space are expected to make investments in designing, planning, developing, branding, expanding existing facilities, and acquisition of new players to strengthen their foothold in the competitive market.
According to Likhitha Bandla, a lead analyst at Technavio for research on construction, “Vendors in the market are currently focusing on providing smart solutions through the integration of compaction equipment and site details using the latest technology such as the IoT and single processing servers. Such innovations in the market are anticipated to translate to market growth as product innovation is a key focus area for revenue generation.”
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Top five vendors in the compaction equipment market space
Caterpillar
Caterpillar engages in the sales and marketing of financial products and insurance through a dedicated network of channel partners globally. It is a leading manufacturer of construction and mining equipment, diesel electric locomotives, diesel and natural gas engines, and industrial gas turbines. Other brands under the Caterpillar name are CAT Financial, CAT Rental Store, CAT Reman, Anchor Coupling, ASIATRAK, FG Wilson, Hindustan, HYPAC, MaK, MWM, Olympian, Perkins, Prentice, Progress Rail, Pyroban, SEM, Solar Turbines, Turbomach, and Turner Powertrain Systems.
Key products: 816F SERIES 2:, 816K, 826K, 836H, 836H, 836K, and CW34.
Atlas Copco
Atlas Copco provides sustainable productivity solutions. The company provides construction and mining equipment, compressors, vacuum solutions, air treatment solutions, and power tools and assembly systems. The company offers compaction equipment through Dynapac.
Key products: SINGLE DRUM VIBRATORY ROLLERS, DOUBLE DRUM VIBRATORY ROLLERS, Dynapac CS1400, CP142, CP2100, and CP2700.
Hitachi Construction Machinery
Hitachi Construction Machinery engages in the manufacture, sales, and service of transportation machinery, construction machinery, and other machines and devices. The company operates through several production bases such as Technical Research Center; and Tsuchiura, Kasumigaura, Hitachinaka, Hitachinaka-Rinko, and Ryugasaki Works.
Key products: ZV55R, ZV65R, ZV75R, ZV250PR-D, ZV350PR-DE, ZV350PR-G, TMR65KDS, and TSR65KDS.
JC Bamford Excavators
JC Bamford Excavators manufactures and supplies construction equipment. It provides wheel loaders, utility vehicles, tracked excavators, tractors, and reversible plate compactors, among others. In 2010, the company opened a new manufacturing facility in Brazil to capitalize on the market potential offered by the FIFA World Cup 2014 and the Olympic Games 2016.
Key products: Multi-Purpose Compactors, Vibratory Tandem Rollers, and Double Drum Walk-Behind Rollers.
Volvo
Volvo develops, manufactures, and markets equipment for the construction and other related industries under the brands Volvo, SDLG, and Terex Trucks. It offers a wide range of excavators, backhoe loaders, skid-steer loaders, wheel loaders, and others. The company has 25 service and technical training facilities worldwide.
Key products: Crawler Excavators, Wheeled Excavators, Compact Excavators, Articulated Haulers, Large Wheel Loaders, Compact Wheel Loaders, Skid Steer Loader, Compact Track Loaders, Demolition Equipment, Asphalt Pavers, Asphalt Compactors, Soil Compactors, Pipelayers, and Forestry Equipment.
A more detailed analysis is available in the Technavio report, Global Compaction Equipment Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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