- The key vendors in the earthmoving equipment market in Italy 2015-2019 are Komatsu Italia Manufacturing, Ihimer, Kubota Europe, and SCAIP
London, 3 August 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the earthmoving equipment market in Italy 2015-2019. Growth of the equipment rental business is a major trend observed in this market. Due to budget constraints, many SMEs cannot buy earthmoving equipment as they are extremely expensive and difficult to maintain. This has resulted in the leasing of earthmoving equipment on a daily or yearly basis. Leasing allows companies to bring down the cost of operation so that they can focus on their core business. This market is expected to grow at a CAGR of 5.18% during the forecast period of 2015-2019.
Increasing investments in sectors such as energy, transportation, aeronautics, environment, and shipbuilding are expected to boost the prospects for growth in this market. In Italy, the governments changing focus towards infrastructure development is also expected to augment the demand for earthmoving equipment. Infrastructure development in this region involves increased spending on travel and tourism, which will boost construction activities for hotels, restaurants, and recreational parks.
“Construction companies, especially SMEs, face budgetary constraints and cannot buy earthmoving equipment. This has led to the significant growth of the rental business for earthmoving and other construction equipment in Italy,” says Faisal Ghaus, Vice President of Technavio Research.
“Equipment can now be leased on a daily or yearly basis. The lease period is often less than the average lifetime of the equipment. According to IHS, a consulting firm, the turnover in the equipment rental business in Italy in 2014 was $1.7 billion.”
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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