Global Compaction Equipment Market 2017-2021
About Compaction Equipment
A compactor is a machine or mechanism used to reduce the thickness of materials such as soil, aggregates, concrete, and so on by filling the air voids present in the material.
Technavio’s analysts forecast the global Compaction Equipment market to grow at a CAGR of 4.74% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global compaction equipment market for 2017-2021. To calculate the market size, the report considers the Total net sales of major vendors from annual reports, Computation of compaction equipment market share and an average of total share by each major vendor
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Compaction Equipment Market 2017-2021
Technavio recognizes the following companies as the key players in the global compaction equipment market: Caterpillar, Atlas Copco, Hitachi Construction Machinery, JC Bamford Excavators, and Volvo.
Other Prominent Vendors in the market are: Ammann Group, Belle Group, BOMAG, CASE Construction, Chicago Pneumatic, Deere & Company, Doosan Portable Power, Escorts Group, everdigm, Guidetti, Sakai America, SANY Group, Simex, STANLEY Infrastructure, Terex, and Zoomlion Heavy Industry Science & Technology.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growth of equipment rental business. Construction equipment such as compaction equipment is very expensive and requires a large down payment. Insurance, licenses, and taxes add to the total cost of ownership. Therefore, small and medium enterprises (SMEs) tend to opt for rented equipment. Also, contractors are often concerned with issues such as maintenance and storage space for such equipment, as these overhead costs increase as new equipment is bought. With renting, such overhead costs can be avoided.”
According to the report, one of the major drivers for this market is growth of transportation infrastructure. The increasing urbanization has resulted in creating global demand for a better transportation system. As countries are developing various plans to meet this demand, the transport infrastructure sector is expected to grow significantly in the coming years with major demand coming from countries like India and China. The rise in demand for transport infrastructure will create opportunities for global compaction equipment market as these machines are a basic requirement in completing any infrastructure projects.
Further, the report states that one of the major factors hindering the growth of this market is emission regulations impact market. The growing concerns over emissions pose a serious challenge for the compaction equipment industry. The climate change agreement signed at the Paris COP21 conference in December 2015 will also play a major role in the future of the compaction equipment market. The increasing emphasis on the development of clean energy equipment is challenging vendors to come up with next generation products; owing to the long product cycle and huge product range, vendors are still working on such R&D.
Caterpillar, Atlas Copco, Hitachi Construction Machinery, JC Bamford Excavators, Volvo, Ammann Group, Belle Group, BOMAG, CASE Construction, Chicago Pneumatic, Deere & Company, Doosan Portable Power, Escorts Group, everdigm, Guidetti, Sakai America, SANY Group, Simex, STANLEY Infrastructure, Terex, and Zoomlion Heavy Industry Science & Technology.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook