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What's the next big thing in the Compact Construction Equipment Market...? JCB, Mustang, John Deere, Volvo

06-10-2019 04:06 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

What's the next big thing in the Compact Construction Equipment

The compact construction equipment market has been showcasing new opportunities in the recent times. The players in the compact construction equipment market are working towards harnessing these opportunities by extending their businesses of compact construction equipment in the promising markets and the lucrative regions. The compact construction equipment market is, therefore, expected to witness major transformations in the forthcoming years. The key players in the compact construction equipment market are approaching the market with new strategies and an improved approach to carry out their business.

With the recent strategic supplier agreement between John Deere and Wacker Neuson, both being compact construction equipment contributors, for building compact excavators of John Deere at the factory of Wacker Neuson in China, the compact construction equipment business is expected to grow significantly. The partnership focuses on growing the distribution of compact construction equipment range in the Southeast Asia, Oceania, and China. A similar business extension was carried out by another key market player, JCB North America, a multinational compact construction equipment manufacturing company has made investments to acquire the business of their West Coast dealer, JCB of Southern California to extend their sales for the customers throughout greater Los Angeles and the neighboring countries.

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Construction equipment industry comprises of a wide rangeof heavy machines which perform specific tasks for various applications. Construction equipment can be classified according to the size and capability of the construction machinery.However, there have been a few changes in their classification based on design specifications and cost effectiveness. Compact construction equipment is an emerging term used in the construction equipment industry due to its utility advantages.

Compact construction equipment are small units which are designed to work on small commercial and residential sites. The major utility factor of compact construction equipment is their versatility and ability to perform those tasks that were earlier dedicated to heavy machinery. The main advantagesof compact construction equipment are that it is low cost, light weight,and easy to transport and operate. However, there is no industry standard to specify any requirements to be met for equipment to be categorised as compact construction equipment.This categorisationis more dependent on the type of application it performs in a particular sector. Generally, track loaders, excavators, backhoe loaders, skid steers and telehandlers are classified under compact construction equipment.

The compact construction equipment industry has shown a robust double digit growth rate over the past few years. The most popular category in compact equipment market are the track loaders with the largest market share. Skid steers market is the second most attractive market and is anticipated to experience a healthy growth by 2020.Decent growth has been observed in the construction equipment market in North America and Western Europe, and is anticipated to grow further due to an increase in construction and repair activities. Asia is anticipated to be the largest market for compact construction equipment by 2020.

The major factors driving the compact construction equipment market are anincreasing preference for small size construction equipment, affordable pricing, reliability, and improved productivity. The increasing number of new technology attachments available for compact construction equipment such as levelers, soil conditioning tools and trenchersare also driving the growth of compact construction equipment. Also, the private user market such as sundowners or hobby farmers, andreal estate developershave been contributing significantly to the increasing adoption of compact construction equipment. Volatility in fuel prices, low entry barriers and lack of structure are the key challenges for the compact construction equipment market.

The changing trends from pedal operation to the use of joysticks, availability of suspension seats and air conditioners at reasonableprices,is further driving growth in compact construction equipment market. Another emerging trend is the GPS tracking system in compact equipment which isamajor attraction for rental purchasers as it helps them to safeguard their machinery against theft and track its location when needed. Self-monitoring and auto shutdown are other attractive emerging trends in compact construction market. The major players in the market are Case, JCB, Mustang, John Deere, Volvo, Ditch Witch,Gehl, Vermeer, Caterpillar and New Holland.

The compact construction equipment industry thus comprises products which are small, can fit into smaller places, are versatile in application, and are cost effective. Noticeable drivers of the compact construction equipment industry are mainly tied to the residential and commercial sectors.Also, rental industries areamong the potential growth pockets for the compact construction equipment industry.

Download Table of Contents @ https://www.futuremarketinsights.com/toc/rep-gb-53

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.It also contains projections usinga suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications. The report covers exhaustive analysis on:

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Regional analysis includes

North America
Latin America
Asia Pacific
Japan
Western Europe
Eastern Europe
Middle East & Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.

Report Highlights:

Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective onmarket performance
Must-have information for market players to sustain and enhance their market footprint

Get full report now @ https://www.futuremarketinsights.com/checkout/53

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About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

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