Skid Steer Market in Brazil 2015-2019
About skid steer
Skid-steer loaders used to perform a variety of tasks in the construction industry, such as digging and lifting. They can be easily fitted with a variety of attachments to perform different tasks on construction sites. They are highly maneuverable because of their compact size, and the ability to support attachments make them even more versatile. The operating capacity of a skid-steer loader can range from 0.25 to 2 metric tons.
The rise in investment in the construction industry in Brazil, which grew by 15.05% in 2014, is driving the demand for skid-steer loaders in Brazil. Also, the forthcoming Summer Olympic Game 2016, which will be hosted by Rio de Janeiro, is further leading to rise in investment in the construction industry.
Government initiative towards upgradation of transport infrastructure will be one of the major factors contributing to the growth of the skid steer market. Brazil has inefficient transport infrastructure facilities which is hampering the country's growth a large extent. Further, with the upcoming sporting events in the country, it has become utmost important for the government to invest highly towards the development of the transport infrastructure.
Further, the government has also announced plan to invest over $50 billion in various infrastructure project through concession model, thereby encouraging private sector to invest in the construction industry. However, Brazil's slow economic growth which is leading the country into the recession is one of the major challenge posed by the construction and equipment industry. The economy is presently witnessing a budget deficit which will not only lower the government spending in the coming two to three years in the construction industry, but is also leading to high unemployment rate in country. This is highly impacting the construction and equipment industry. Also, construction sector being a labor intensive industry is witnessing a huge shortage of skilled labor.
Technavio's analysts forecast the skid steer market in Brazil to grow at a CAGR of 11.61 percent over the period 2014-2019.
Covered in this report
This report covers the present scenario and the growth prospects of the skid steer market in Brazil for the period 2015-2019. The market size has been calculated based on the total revenue generated from the sale of skid steer in the country. It does not consider the sale of used equipment and the revenue generated from contracts and maintenance.
The report also presents the detailed analysis of the four key vendors in the market. In addition, it discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends emerging in the market.
Technavio Announces the Publication of its Research Report – Skid Steer Market in Brazil 2015-2019
Technavio recognizes the following companies as the key players in the Skid Steer Market in Brazil: Case, Caterpillar, Terex, Volvo and XCMG
Other Prominent Vendors in the market are: Doosan Heavy Industries & Construction, Gehl, Hitachi Construction Machinery, JCB, Komatsu, Sany Group, and Wacker Neuson.
Commenting on the report, an analyst from Technavio’s team said: “The equipment rental market is growing rapidly in Brazil. Equipment lease or renting allows customers to use the equipment by leasing it from manufacturers or equipment rental companies. This enables construction companies to reduce project cost and operating expenses to a considerable extent.”
According to the report, the government is investing heavily in multiple infrastructure projects, and plans to spend over $200 billion in the infrastructure sector over the forecast period. This funding will be utilized for the construction of energy, rail and roadways, airways, and waterways. The local government of Rio de Janeiro, the host state for the 2016 Olympic Games, is expecting an investment of $50 billion by 2016.
Further, the report states that manufacturing companies are finding it difficult to recruit skilled labor, particularly in the construction sector. Although the government planned to invest in labor training by introducing different educational programs, a wide gap still exists. The rising unemployment rate in the country is reducing the market growth.
Case, Caterpillar, Terex, Volvo, XCMG, Doosan Heavy Industries & Construction, Gehl, Hitachi Construction Machinery, JCB, Komatsu, Sany Group, Wacker Neuson.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook