- The key vendors in the earthmoving equipment market in China 2015-2019 are HCMM Inc., Sany Group, XCMG Co. Ltd. And Zoomlion Heavy Industry Science and Technology Co. Ltd
London, 08 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the earthmoving equipment market in China 2015-2019. Growth of equipment rental business is one of the key trends being witnessed in the market.
Earthmoving equipment manufacturers such as Caterpillar and Volvo are offering rental services to their customers. This allows construction companies to use high-cost earthmoving equipment without making a major monetary investment. The earthmoving equipment market in China is expected to grow at a CAGR of 12.82% during the forecast period of 2014-2019.
The development of the construction market in China is a major driving factor because of the growing demand for infrastructural development in the country. The NDRC has approved 55 major construction projects across all construction sectors. Nearly 50% of the approved projects are railway projects. This large investment will drive the earthmoving equipment market in China during the forecast period and beyond.
“Construction companies in China are focused extensively on sustainable development practices such as green building construction,” says Faisal Ghaus, Vice President of Technavio Research.
“Manufacturers are now focused on developing energy-efficient and technologically advanced earthmoving equipment to meet the growing demand.”
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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