London, 02 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the earthmoving equipment market in Europe 2015-2019, which is predicted to grow at a CAGR of 6.68% during the forecast period of 2014-2019.
The growth of the market will be driven by the rise in construction activities in countries in Central and Eastern Europe. For instance, the government of Poland plans to invest in 200 new projects that include residential, hotel, retail and office space, road, and railway constructions. The rise in investment in both developed and developing countries in Europe will speed up construction activities in this region and support market growth during the forecast period.
“Construction companies in Europe are focusing on sustainable development practices and the construction of green buildings,” says Faisal Ghaus, Vice President of Technavio.
“For a certification, construction companies have to minimize emissions throughout the life cycle of a project. This has increased the demand for energy-efficient earthmoving equipment in Europe.”
Key Market Drivers
- Recovery of Construction Industry from Recession
- Growth of Overseas Construction Markets
- Increased Construction Investment in Developing Countries
- Need for Energy-efficient Equipment
Key Market Trends
- Growth of Equipment Rental Business
- High Demand for Energy-efficient Equipment
- Availability of Attractive Financing Options
Key Market Vendors
- Caterpillar Inc.
- JCB Ltd.
- Komatsu Ltd.
- Volvo Construction Equipment
To define the market circumstances 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.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
