TechNavio recognizes the following companies as the key players in Construction Equipment Market in Europe: AB Volvo, Caterpillar Inc., JC Bamford Excavator Ltd., Komatsu Ltd., Doosan Group, Hitachi Construction Machinery Co. Ltd., Larsen & Toubro Ltd., Liebherr Group, Liugong Machinery Co., Terex Corp., and Zoomlion Heavy Industry Science and Technology Co.
Commenting on the report, an analyst from TechNavio’s team said: “Though many organizations across the industry prefer to have the latest construction equipment technology to improve their productivity, some SMEs find it difficult to buy such equipment due to the high cost. The increasing competition among vendors is also forcing vendors to differentiate themselves by providing innovative value-added services. Therefore, construction equipment vendors are offering construction equipment such as excavators, wheel loaders, motor graders, crawler cranes, truck cranes, and truck-mounted cranes on a rental basis. This allows cost-driven organizations in developing countries to opt for the latest construction equipment at minimal cost, thereby improving their operational productivity. Thus, the option of renting encourages customers to use a wide range of construction equipment. ”
According to the report, the Construction Equipment market in Europe is driven by several growth factors, and an increase in public infrastructure projects is one of the major drivers. Due to the rapid development of the Eastern European region, increasing growth of public infrastructure has led to the demand for construction equipment.
Further, the report states that a major challenge is the increasing cost of construction equipment due to the rising prices of raw materials.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/construction-equipment-market-in-europe-…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-and-automation
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