DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/c3zm5n/excavator_market) has announced the addition of the "Excavator Market in India 2015-2019" report to their offering.
The excavator market in India to grow at a CAGR of 7.86% over the period 2014-2019.
This report covers the present scenario and the growth prospects of the excavators market in India for 2015-2019. The market size has been calculated based on total revenue generated from the sale of excavators in India. It does not consider the sale of used equipment, or the revenue generated through contracts or maintenance. It also outlines the challenges faced by vendors and the market at large, as well as the key trends emerging in the market.
One of the major trends is Make in India initiative. Launched in 2014 by Prime Minister Narendra Modi, the "Make in India" initiative is aimed at encouraging companies to manufacture products in India. The government expects this program to improve the manufacturing sector, foster innovation, and create more job opportunities. Apart from this, it will foster investment in R&D activities.
According to the report, the major driver in the market is that the government is taking initiatives to improve the country's infrastructure and boost investment opportunities in the construction industry. In February 2015, it announced plans to invest $11.32 billion in infrastructure development for the fiscal year 2015-2016. Of the total investment, $6.57 billion will go to railway and road infrastructure. Apart from this, the government proposes to revive the tax-free bond, which was introduced four years ago, and will enable companies to raise funds without incurring any tax.
Further, the report states that the challenge is, for the effective performance of construction equipment and improved productivity, continual maintenance is essential. Currently, not all vendors are able to provide this support to customers, discouraging organizations from adopting excavators. Therefore, customers need to select the right vendor to obtain continual maintenance support and maintain operational excellence.
Key vendors
- BEML
- Caterpillar
- JCB
- Komatsu India
Other prominent vendors
- Hyundai Construction Equipment India
- L&T Construction Equipment
- Tata Hitachi
-
Volvo
For more information visit http://www.researchandmarkets.com/research/c3zm5n/excavator_market
