Global Articulated Hauler Market Focusing on Product Innovation and Advanced Features through 2018-2028 | Key Players are Komatsu Ltd., Volvo Group, Doosan Corporation, etc.
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The articulated hauler market is marked by a handful of companies that address a bulk of the articulated hauler demand from end-use industries. Cost-intensive nature of the product further intensifies the consolidation of prominent players’. Top 6 companies in the Tier 1- Caterpillar, Komatsu, Volvo, CNH Industrial N.V, Deere & Company and Hitachi Construction collectively hold over half the articulated hauler market share. In a bid to maintain the larger market share, top companies are engaged in R&D investments, new product launch and regional expansion activities.
Prominent Players Strengthen Dealer Network with Enhanced Focus on Customer Value
The supply chain of the articulated hauler market involves the distribution of equipment and services from OEMs to dealers to end customers. As sales of articulated hauler are currently dominated by dealer network, prominent players are engaged in strengthening their distribution, particularly to lead customer value in terms of effectively addressing uptime issues and equipment lifecycle value.
Volvo CE has initiated changes such as territory expansion and emergence of new dealers in the company’s North America dealer network in 2017.
Bell Equipment has announced dealer network expansion in North America which functions through its North Carolina facility in May 2018.
In August 2018, Terex Trucks signed three new dealers in the French construction market which is marked by in-pipeline multiple big-ticket construction projects.
Connected Services – Must-Have Asset for Stakeholders to Gain Profits from Direct Equipment Sales
Current sales strategy of articulated hauler market involves working with dealers. However, the current distribution strategy lacks configuration abilities and efficient price and invoice services. This further limits scalability in the evolving industry landscape wherein the number of buyers are changing from a handful of dealers to millions of direct customers. Innovative connected services aligned with the ongoing digitalization have assisted B2C business models in better service offerings. When involved in a mix of distribution channels in which equipment is sold directly to customers, OEMs in the heavy-duty equipment market usually have stronger control over direct-to-consumer sales. By providing better service offerings through connected services, manufacturers in the articulated hauler market are aiming to strengthen the existing distribution network and gain profits from direct-to-consumer equipment sales.
Equipment Rental Remains a Key for Articulated Hauler Manufacturers to Leverage Temporary Equipment Solutions Requirements
Construction industry heavily relies on temporary works wherein equipment hire continues to remain at the centerstage. Considering the cost-intensive nature of the equipment, heavy-duty equipment including articulated haulers are primarily rented rather than owned. Further, in a bid to make significant savings, end-use industries of the articulated hauler market show a significant inclination towards rental solutions. Prominent players in the articulated hauler market such as Volvo CE, Bell, Caterpillar and Deere & Company provide on-demand rental services to cater to the growing demand for temporary equipment solutions. Services such as customized rental packages with quality assurance and maintenance support are provided through dealers of these prominent articulated hauler market players.
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The competitive landscape assessment offered in the articulated hauler market report is one of the most insightful section that delivers information of latest and notable developments undertaken by key players in the articulated hauler market. Some of the profiled players in the articulated hauler market include Volvo Group, Doosan Corporation, Caterpillar, Inc., Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Deere & Company, Liebherr Group, CNH Industrial N.V., XCMG Group and Bell Trucks America, Inc.
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