Excavator Market in China 2015-2019
Excavators are used for demolition, lifting of heavy objects, and for digging purposes. There are two types of excavators: wheeled or crawler excavators and mini/compact excavators. Wheeled excavators are used for large construction projects, whereas mini excavators are utilized at mining sites. The demand for excavator is likely to increase in China because of the emergence of large-scale projects in the Railways and Oil and Gas sectors and construction of new cities.
Technavio's analysts forecast the Excavator Market in China to grow at a CAGR of 10.09 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Excavator Market in China for the period 2015-2019. The market is divided into the following segments: Crawler/Wheeled Excavators and Mini/Compact Excavator.
Technavio's report, Excavator Market in China 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Excavator Market in China 2015-2019
Technavio recognizes the following companies as the key players in the excavator market in China: Guangxi LiuGong Machinery, Sany Group, XCMG Construction Machinery and ZOOMLION
Other Prominent Vendors in the market are: Caterpillar, Hitachi Construction Machinery, Komatsu and Volvo Construction Equipment
Commenting on the report, an analyst from Technavio’s team said: “Construction equipment manufacturers are emphasizing the development of energy-efficient equipment, which will cause less damage to the environment. The government of China is also urging vendors to adhere to the non-road emission standards. For instance, Komatsu is heavily investing in the development of energy-efficient excavators. These new excavators will also be equipped with hydraulic systems and high-pressure common rail engines with high fuel efficiency. ZOOMLION and Sunward Intelligent Equipment, the leading construction equipment manufacturers in China, are also working toward the development of energy-efficient machineries.”
According to the report, large-scale investment by the government in the infrastructure sector is the main factor propelling the growth of the excavator market in China. The government of China is also making high investments in the transport, and power and energy sectors. In addition, the government is encouraging private investments in infrastructure activities. In 2014, 80 infrastructure projects were planned to be funded by the private sector. Some of the core sectors where PPP are welcomed are transport, energy, and new technology projects.
Further, the report states that customers are dissatisfied because of the inability of the vendors to fulfill their expectations of support and maintenance.
Guangxi LiuGong Machinery, Sany Group, XCMG Construction Machinery, ZOOMLION,Caterpillar, Hitachi Construction Machinery, Komatsu, Volvo Construction Equipment