- The key vendors in the wheel loaders market in Europe 2015-2019 are Caterpillar Inc., JCB Ltd., Komatsu Ltd., and Volvo AB
London, 10 August 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the wheel loaders market in Europe 2015-2019. The recent increase in renting of construction equipment is a critical trend observed in this market. Since construction equipment is expensive, many SMEs rent road rollers and other road laying equipment on a rental basis. This allows cost-driven organizations to opt for the latest construction equipment at minimal cost. The wheel loaders market in Europe is expected to grow at a CAGR of 5.55% during the forecast period of 2014-2019.
Recovery of the construction sector post the global economic crash of 2008 is one of the major factors that is expected to boost growth in this market. Slow and steady recovery of the market after almost half a decade has resulted in increased urbanization. This rapid increase in urbanization is expected to augment the demand for wheel loaders and other construction equipment in this region.
“The demand for mining equipment is increasing due to rapid growth of the mining industry. The focus of vendors is shifting toward energy and fuel-efficient equipment to gain an edge in the highly competitive market. This has resulted in investments in R&D to manufacture efficient equipment,” says Faisal Ghaus, Vice President of Technavio Research.
“Manufacturers have started to offer incentives to encourage purchase of equipment and offset the demand for rentals. Manufacturers are providing consumers with incentives, such as free attachments and supporting equipment with bulk orders. This makes the equipment cost-effective and enhances sales.”
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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