- The key vendors in the earthmoving equipment market in Malaysia 2015-2019 are Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., JCB Ltd. And Komatsu Ltd.
London, 09 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 Malaysia 2015-2019. Construction companies worldwide are focusing extensively on sustainable practices. For instance, companies are trying to acquire green building certifications for their projects. This has led to increased demand for energy-efficient earthmoving equipment, especially excavators, which consume less fuel than construction tractors and loaders. The earthmoving equipment market in Malaysia is expected to grow at a CAGR of 6.55% during the forecast period of 2014-2019.
Several infrastructure and residential projects are coming up in the country, which has resulted in increased demand for earthmoving equipment. The government of Malaysia has increased public spending on infrastructure projects such as roads and railways. Construction equipment such as earthmoving equipment is a prerequisite for effective implementation and timely completion of these projects. Hence, there is a rise in demand for earthmoving equipment in the country, which is boosting growth of the earthmoving equipment market.
“The governing body for residential development in the country, NHB, has planned to invest profusely in development of public housing, especially for the lower income group of the population, to overcome the growing shortage of housing units,” says Faisal Ghaus, Vice President of Technavio Research.
“Earthmoving equipment is required for effective implementation and timely completion of residential development projects; hence, demand for earthmoving equipment in the country is continuously increasing because of growth of residential construction.”
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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