Excavator Sales as Construction Machinery 5.5x Higher than Sales as Forestry and Agricultural Equipment: FactMR Study
Verfasser: ashwani_kailiya on Thursday, 27 December 2018FactMR recently published a comprehensive study on excavator market, which opines that the excavator market will witness modest 3.2% volume y-o-y in 2019 over 2018. The FactMR study finds that the demand for excavator will improve as the heavy construction equipment industry has been recovering from a major slump. Owing to the positive growth of the construction industry, especially in developing countries, excavator market is expected to witness steadily increasing growth in the future.
Construction Industry Accounts for over 70% Volume Share in Excavator Market
Excavators are commonly used in a wide range of sectors including construction, mining, agriculture, and forestry. However, according to the FactMR report, the construction industry is expected to hold the largest volume share – approximately 72% -- by the end of 2019. Manufacturers in the excavator market are focusing on introducing performance features that will suit the requirements of end-users from the construction industry to capitalize on the increasing demand for excavators as a construction equipment.
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