Increase in popularity of compact construction equipment is fueling the demand for robust compact equipment especially in the construction industry. Leading companies such as Caterpillar, Inc., Deere, and JCB are focusing on the development of more compact devices in order to attract more customers and gain a competitive position in the market. Factors such as the growing popularity of compact equipment, ease of transport and low maintenance costs are the major factors that are expected to drive the growth of compact construction equipment market. However, lack of skilled operators and volatility in fuel prices are the major factors that are anticipated to hinder the growth of compact construction equipment market.
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Moreover, the compact size of the equipment allows them to be more suited for construction activities especially in urban areas and renovation projects. This equipment has a large scope of application and is generally utilized for loading, excavation, material handling, lifting & hoisting, and other tasks.
The key players influencing the compact construction equipment market are Caterpillar, Inc., AB Volvo, Deere & Company, Hyundai Heavy Industries Co. Ltd, XCMG Group, J C Bamford Excavators Ltd., King Machinery, Komatsu Ltd, Manitou BF, S.A. (Mustang), and Sany Group.
The Compact Construction Equipment market size is derived primarily form the supply side (i.e. the market players operating in global Compact Construction Equipment market) and therefore, revenue of all the prominent leading companies operating across the value chain are taken into consideration across regional, global and country level. Historical and current market information is collected from technical literature, paid databases, magazines, press releases, trade unions, company presentations, annual reports, and other information available in public domain. Additionally, the research team also refers various paid data sources such as Factiva, Hoovers, Bloomberg, and numerous other sources were also referred to derive company’s annual revenue, and other segment related financial information.
Over the forecast period of 2019-2027, the Compact Construction Equipment market is expected to experience a substantial growth rate. The report will highlight various factors such as drivers, futures trends and opportunities behind the growth rate. The report will also provide insights on how the market will behave during the forecast period, and its potential impact on market segments, sub-segments and industry verticals at short term, midterm and long term basis. The market numbers presented in the report, are also portrayed in the graphical format for developing better understanding and analyzing the market.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, Healthcare and Telecommunication industries.