London, 05 November 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Excavator Market in Japan 2014-2018, which is expected to grow at a CAGR of 17.81 percent during the forecast period of 2014-2018.
Despite being overpowered by skid-steers and backhoe loaders, excavators have maintained their position in the market because of their versatile nature. Easy to change attachments make excavators suitable for multiple purposes. Depending upon the set of attachments, excavators can be used to carry out operations such as digging, excavating, tamping, loading, drilling, scraping, and demolition. SMEs and contractors with a wider scope of work in construction prefer to own an excavator instead of a skid-steer because of their versatile nature.
“Construction companies in Japan are expected to upgrade their older excavators with new technologies and features, which may again create positive demand in the market,” says Faisal Ghaus, Vice President of TechNavio.
“They have begun to replace their older equipment with energy-efficient, powerful, and low-emission equipment to meet the rising demand for fast and superior-quality infrastructure construction.”
Key Market Drivers
- Upcoming International Events
- Growth of Construction Industry
- Versatile Nature of Excavators
- Need for Replacement of Older Equipment
Key Market Trends
- Growth of Equipment Rental Business
- Rise in Demand for Energy-efficient Excavators
- Increase in Demand for Demolition Excavators
Key Market Vendors
- Hitachi Construction Machinery Co.
- Komatsu Ltd.
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%…
