Excavators are used to excavate, discharge, and elevate materials with the help of a bucket fitted to the boom. These are self-propelled machines that move using crawlers or wheels. These heavy construction machineries are highly versatile and can be used for above and below ground-level operations. Some of the main applications of excavators include leveling, trench digging, and well sinking.
Technavio’s analysts forecast the excavator market in Japan to grow at a CAGR of 17.87% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the excavator market in Japan for 2017-2021. To calculate the market size, the report considers the revenue generated from sales of excavators and the number of units produced by the leading vendors like Hitachi Construction Machinery, Komatsu, and Kobelco Construction Machinery.Technavio's report, Excavator Market in Japan 2017-2021, 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 over 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 Japan 2017-2021
Technavio recognizes the following companies as the key players in the excavator market in Japan: Hitachi Construction Machinery, Kobelco Construction Machinery, and Komatsu.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is high demand for remote monitoring systems in excavators. Manufacturers are incorporating Global Positioning System (GPS) and other satellite remote monitoring systems in excavators to monitor the performance and efficiency of equipment outside of the construction site. Operators can track multiple machines from any location and guide them to perform tasks such as accelerating, steering, braking, and avoiding obstacles. The remote monitoring system helps the excavator owners such as construction companies and contractors to monitor machine location via GPS, machine history, current machine hours, machine idle time, maintenance information, and alarm fault history.”
According to the report, one of the primary drivers in the market is large-scale infrastructure development. Japan is set to host the Olympic Games in Tokyo in 2020. This has resulted in a rise in large-scale construction activities in the country, which includes construction and improvement of Olympic stadiums, arenas, integrated sports complexes, transit systems, and modernization of airports. The cost of these construction activities is expected to be $6 billion. The Japanese government is planning to combine legacy buildings with new facilities to house athletes and host events, as also specified under the Tokyo Vision 2020. The Tokyo Vision 2020 is a long-term infrastructure development program implemented by the Government of Japan in 2015.
Further, the report states that one major challenge in the market is assurance of customer satisfaction. Construction companies in Japan are working toward improving their cost-effectiveness. Ever since the economic slowdown of 2011-2012, construction companies and contractors in Japan are focusing on the utility of the equipment procured. In addition, construction companies in Japan tend to procure their equipment based on the scope of the work assigned to them. They prefer customized equipment that suits their work profile to minimize machine idle time and make the most out of their investment. Therefore, equipment manufacturers in Japan need to address the needs of customers by providing them with customization options. However, most of the established vendors in the market do not provide an option for customizing equipment, which leads to customer dissatisfaction, in turn, affecting the sales.
Hitachi Construction Machinery, Kobelco Construction Machinery, Komatsu.
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