- The key vendors in the Global Mini Excavator Market 2014-2018 are Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., Komatsu Ltd. and Volvo.
London, 04 November 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Mini Excavator Market 2014-2018. One of the major trends upcoming in this market is the growth of the equipment rental business. Vendors like Caterpillar and Volvo offer various rental and leasing options to construction companies, which leads to a reduction in operational expenses. The market is expected to grow at a CAGR of 9.34 percent during the period 2013-2018.
Mini excavators are widely used in the mining industry and urban infrastructure. In recent years, many construction companies have been using mini excavators because of their compact size. Also it can be easily craned to the construction site or can be transported by average truck using a trailer hitch. Increased population and economic development is driving the demand for commercial and industrial buildings in most of the developing countries such as India, China, Brazil, and Indonesia.
“Many equipment manufacturers such as Caterpillar, Volvo, and others provide equipment on a rental basis to construction companies,” says Faisal Ghaus, Vice President of TechNavio Research.
“This allows construction companies to reduce their costs and operating expenses, thereby increasing their profit margins.”
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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