The China Construction Equipment market is to grow at a CAGR of 24.23 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need to reduce infrastructure construction time. The Construction Equipment market in China has also been witnessing an increasing adoption of construction equipment on a rental basis. However, rising construction equipment costs could pose a challenge to the growth of this market.
One of the main trends witnessed in the Construction Equipment market in China is the increase in fleet tracking system subscriptions. The increase in fleet tracking system subscriptions is another major trend in the Construction Equipment market in China. Fleet tracking systems are mainly used in earthmoving equipment. They enable users to send, obtain, and store data from telematics devices by incorporating telecommunications and information. In addition, the increased use of fleet tracking systems is propelling the demand for telematics.
One of the main factors driving the market is the need to optimize operational cost. The availability of low-cost skilled labor has led to the emergence of several construction equipment manufacturing companies in China. This is paving the way for the emergence of several domestic brands.
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