- The key vendors in the excavator market in Mexico 2015-2019 are Caterpillar Inc., JCB Ltd., Sany Group Ltd. And Volvo Construction Equipment
London, 11 June 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the excavator market in Mexico 2015-2019. Rise in Demand for energy-efficient and customized excavators is one of the major trends upcoming in the market. Construction companies worldwide are focusing extensively on sustainable practices.Moreover, government regulations regarding emissions from construction equipment is becoming stringent, which has led to increased R&D by equipment manufacturers. The excavator market in Mexico is expected to grow at a CAGR of 6.2% during the forecast period of 2014-2019.
“Because construction companies, especially SMEs, face budget constraints, manufacturers are promoting their excavators through rentals,” says Faisal Ghaus, Vice President of Technavio Research.
“Leading vendors such as Caterpillar and Volvo are offering rental and leasing services to meet the growing demand for excavators in Mexico.”
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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