Skid steer: Key market research findings
- Growing demand for advanced construction equipment
- Upcoming 2016 Summer Olympics
Technavio has added a new market research report on the skid steer market in Brazil, which is expected to grow at a CAGR of 11% between 2015 and 2019. This market is driven by the recent increase in construction activities like the construction of new airports and power plants.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Owing to increased investment in the construction industry and rising concerns over carbon emissions, the construction companies in Brazil are demanding equipment with advanced features. As such the manufacturers are equipping construction equipment like skid steers with global positioning system (GPS), telematics, and upgraded hydraulic couplers. They are also offering fleet management services to clients that help in obtaining real-time information about the equipment such as fuel consumption and equipment location,” says Navin Rajendra, Lead Analyst, Heavy Industry, Technavio Research.
Technavio’s market research analyst has estimated factors like the upcoming Summer Olympic Games to drive market growth during the next four years. Due to the upcoming Summer Olympic Games, the spending on sports infrastructure is expected to reach close to USD 240 million by 2016. The extensive construction of highways, subways, integrated sports complexes, and sports stadiums are expected to boost market growth during the forecast period.
The leading vendors in the skid steer market in Brazil include Case, Terex, XCMG, Caterpillar, and Volvo. This market contains a multitude of large and small vendors and is characterized by competitive pricing, financing, customer service centers, and attractive offers. As the scope for product differentiation is low in this market, vendors provide services like complimentary attachments, accessories, and customization options to gain prominence in this market.
A more detailed analysis is available in the Technavio report, Skid Steer Market in Brazil 2015-2019.
We can customize reports by other regions and specific segments upon request.
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