London, 27 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the excavator market in Russia 2015-2019, which is expected to grow at a CAGR of 6.54% during the forecast period of 2014-2019.
Mega events hosted by Russia help in augmenting the demand for construction equipment in this region. Russia has been the host country for a number of mega events back to back. These events help in promoting tourism and also aid in infrastructure development. The construction of hotels and stadiums for the upcoming FIFA World Cup in 2018 will, in turn, boost the demand for excavators. These excavators help in constructing structures at a faster rate, and its versatile nature helps it in operating as a loader as well as an excavator simultaneously.
“Construction companies in Russia are focusing extensively on sustainable development practices such as green building construction. Certifications for green buildings in Russia are provided by LEED and BREEAM. This requires minimization of emissions and pollution throughout the lifecycle of the project,” says Faisal Ghaus, Vice President of Technavio.
“This has led to an imminent rise in demand for energy-efficient equipment in the excavator market in Russia. Manufacturers are now focusing on development of energy-efficient and technologically advanced earthmoving equipment to meet growing demand.”
Key Market Drivers:
- Upcoming Mega Events.
- Development in Transportation Sector.
- Replacement of Old Excavators.
Key Market Trends:
- Increase in EBRD Participation.
- Increase in Popularity of Energy-efficient Equipment.
- Rising After-sales Incentives.
Key Market Vendors:
- Caterpillar Inc.
- Hitachi Ltd.
- Komatsu Ltd.
- Liebherr International
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%…
