LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global diesel engines for construction and earthmoving sector report until 2021. This research report also lists 21 other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global diesel engines for construction and earthmoving sector for 2017-2021 provides a detailed industry analysis based on the product (wheeled loaders, crawler excavators, mini excavators, backhoe loaders, and skid steer loaders) and geography (APAC, EMEA, and the Americas).
“The global diesel engines for construction and earthmoving sector is projected to grow to almost eight hundred thousand units by 2021, at a CAGR of close to 4% over the forecast period. The increasing requirement for fuel-efficient construction equipment is one of the key drivers of the market,” says Gaurav Mohindru, a lead analyst at Technavio for engineering tools research.
Competitive vendor landscape
Large international vendors such as Caterpillar, JCB, Komatsu, Kubota, and Cummins dominate the global diesel engines market for the construction and earthmoving sector. The increasing investments towards the development of infrastructure in many parts of the world, rise in tourism development, and manufacturers focus on producing equipment that is suitable for customers' local environmental conditions are expected to drive the growth of the market. It is expected that manufacturers will face intense competition in future because of the growing demand from urban markets. Manufacturers are also focusing on extending the line of construction equipment to meet the diversity of customer needs.
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About the top five vendors in the global diesel engines for construction and earthmoving sector
Caterpillar manufactures and markets mining, construction, and forestry machinery. It also makes engines and other related parts for its equipment and offers financing and insurance. The company distributes its products through a worldwide network of dealers.
Cummins manufactures natural gas and diesel engines for the bus, construction, heavy and medium trucks, mining, and governmental equipment markets. It also supplies complimentary products for engines. The company manufactures components, such as controls, transfer switches, and switchgear.
JCB manufactures equipment for agriculture, construction, government and defense, waste handling, and demolition. It offers various kinds of diesel engines including stage IV final base engine, stage IIIB interim base engine, stage IIIA base engine, and stage II 6 and 4 cylinder base engines.
Kubota Group designs, manufactures, and sells various machinery, such as mowers, tractors, wheel loaders, utility vehicles, pumps, generators, harvesters, rice transplanters, and mini-excavators. It sells its products mainly through dealers. A smaller division of the company sells pipes and valves for water supply and sewage systems.
YANMAR designs, manufactures, and sells a wide range of construction and mining equipment, utilities, forestry machines, and industrial machinery. It was the first company to manufacture an efficient, small-sized diesel engine.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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