Excavator Market to Post 6% CAGR through 2021, Informs TechSci Research in Its New Report Recently Uploaded at MarketPublishers.com29 Jul 2016 • by Natalie Aster
LONDON – Worldwide, the demand for excavators is strong, especially from such end-use sectors as residential and commercial construction, sewage disposal, mining sector, amid others. Global excavators sales followed a decreasing trend from 2011 to 2015 primarily owing to a slump in crude oil prices since 2013, which considerably influenced the economies of oil dependent countries, and thus, hindered growth of construction sector in these countries. Furthermore, some major developing countries (like China and Russia) had to overcome certain challenges, for instance, unfavourable economic and geopolitical conditions, during the past few years, which has also had a negative influence on the worldwide excavators market. In the past year, APAC led the world’s excavator market owing to strong demand from Japan, China and India.
However, expected recovery in the world’s construction sector along with stabilization in crude oil prices is predicted to spur growth of demand for excavators worldwide in the years ahead.
The world excavator market growth will likely gain tractions through 2021, registering a healthy CAGR of more than 6%. Rising investments in infrastructure sector stands as the major market growth driver.
In the upcoming 5 years, the worldwide excavator market is anticipated to see a remarkable increase in competition owing to implementation of novel emission norms, which is likely to open new market opportunities.
Cutting-edge report by TechSci Research, “Global Excavator Market By Type (Mini vs. Heavy and Crawler vs. Wheeled), By Region, Competition Forecast & Opportunities, 2011 – 2021", presents a detailed guide to the world’s market for excavators. It uncovers reliable market data, contains a granular segmentation analysis, features the relative policies and explores the competitive landscape. The publication sheds light on the top development trends, outlines future growth opportunities and also discusses key challenges. Moreover, market forecasts through 2021 are available.
More reports by the publishers are provided in the TechSci Research catalogue.