- The key vendors in the excavator market in Qatar 2015-2019 are Caterpillar Inc., JCB Ltd., Komatsu Ltd., and Volvo Construction Equipment.
London, 12 June 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the excavator market in Qatar 2015-2019. The recent shift from renting to ownership of excavators is a key trend observed in this market. Qatar is currently experiencing a rise in long-term infrastructure development projects and as a result of this many vendors are finding it more feasible to own excavators rather than renting them. Ownership of excavators allows construction companies to use the equipment according to their needs, even if it is for long durations. The excavator market in Qatar is expected to grow at a CAGR of 11.61% during the forecast period of 2014-2019.
As Qatar prepares to host the 2022 FIFA World Cup, the construction of 10 new stadiums and supporting infrastructure is expected to encourage market growth. The World Cup is expected to attract large number of tourists to the country; to cope with this the government of Qatar is planning to expand and upgrade its existing infrastructures such as hotels, recreational centers public transportation systems, roads, railways, airports, and ports.
“As the ownership of excavators involves high initial investment, manufacturers provide attractive financing options to increase sales. This provides companies with the opportunity to acquire the equipment with minimal down payment,” says Faisal Ghaus, Vice President of Technavio Research.
“In addition, many excavator manufacturers and dealers are providing attractive offers such as complimentary attachments, accessories, and customization options to their customers to boost sales.”
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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