Global Excavator Market Trends, Opportunities & Growth Forecast during 2017-2026
Leading manufacturers in the excavator market are entering the rental business to reap the long-term benefits of renting excavators to an increasing number of end-users.
[USPRwire, Tue Feb 26 2019] The Fact.MR report on excavator market is a holistic analysis of all-encompassing market dynamics, which elucidates information about growth of the excavator market during the period 2017-2026. The information featured in the excavator market is obtained by conductive a thorough research on macro and microeconomic factors that are instrumental in shaping the excavators market throughout the forecast period.
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The report also includes minute details about the competitive environment in the excavator market during the assessment period. By providing comprehensive analysis on strategic developments of leading players in the excavator market, the report can help new entrants to develop appropriate business strategies to gain a competitive edge in the excavator market in the foreseeable future.
Stringent Emission Regulations and Safety Standards Push Manufacturers to Innovate
A majority of excavators used in various industrial sectors use diesel as fuel. In order to limit the air pollution caused due to heavy equipment with ignition engines, such as excavators, various governing bodies have incorporated stringent emission regulations, which all the players in the excavator market need to conform to.
The U.S. Environmental Protection Agency (EPA) has developed Tier 4 emission standards, certification requirements, and other compliance provisions for manufacturers in excavator market. In addition, non-road mobile machinery emission regulations developed by the European Commission and the Regulation (EU) 2016/1628 require manufacturers to modify their manufacturing strategies, which may add to the total manufacturing costs. Imposition of stringent laws and quality standards continues to influence the product and business strategy of excavator manufacturers.
Focus on Improving Performance Features: A Key Trend in the Excavator Market
As excavators are cost-sensitive, their performance characteristics, efficiency, and flexibility make the biggest impact on purchasing decisions of customers. Leading manufacturers in the excavator market aim to deliver unique performance features to attract more customers, especially in saturated markets.
Apart from efficiency-related features of excavators, operators’ safety and environmental compatibility are being focused on by most manufacturers and vendors in the excavator market. By using next-generation technologies, excavator manufacturers are offering features that can guide the operator about slope and depth to grade and preventing excavator parts from moving out of set points defined by the operator. Thereby, reducing maintenance and operational costs, along with improving operator’s comfort and safety are likely to be the priority for player in the excavator market in the upcoming years.
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Renting Over Buying – End-User Preference for Short-Term Rental Continues
The high cost of excavators makes them out of reach many small- or medium-scale end-users. Thereby, a majority of end-users are more inclined towards renting excavators, which not only mitigates the expenses associated with buying a new equipment, but also reduces repair and maintenance costs.
Leading manufacturers in the excavator market are entering the rental business to reap the long-term benefits of renting excavators to an increasing number of end-users. Most customers from a vast range of end-user industries prefer renting excavators on the basis of projects in order to limit their expenses on equipment renting and labor charges. Further, manufacturers in the excavator market are introducing innovative rental schemes to make short-term renting more convenient for customers, and capitalize on the latest trends in the excavator market in the upcoming years.
Key Developments in Excavator Market
The Fact.MR report provides in-depth information about recent developments in the excavator market. The report features a comprehensive list of leading stakeholders as well as new entrants in the excavators market, which includes Caterpillar Inc., Deere & Co., Hitachi, Ltd., KUBOTA Corporation, CNH Industrial N.V., Volvo Construction Equipment and Services, Inc., Doosan Bobcat Inc., Yanmar Co., Ltd., JCB, Inc., Nagano Industry Co., Ltd., KOBELCO Construction Machinery Co., Ltd., Kato Works Co., Ltd., BEML Limited, Guangxi LiuGong Machinery Co., Ltd., Sany Group Co. Ltd., Terex Corporation, XCMG Construction Machinery Co., Ltd., Zoomlion Heavy Industry Science and Technology Co., Ltd., CAPPELLOTTO S.P.A., Rivard Companies Inc., and The Charles Machine Works, Inc.
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