DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/hpt3pt/excavator_market) has announced the addition of the "Excavator Market in India 2014-2018" report to their offering.
The analysts forecast the Excavator market in India to grow at a CAGR of 21.98 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increased government support. The Excavator market in India has also been witnessing the threat of low-cost Chinese products. However, the lack of product differentiation could pose a challenge to the growth of this market.
Key vendors dominating this space are Tata Hitachi Construction Machinery Co. Ltd, L&T Construction Equipment Ltd., and Hyundai Construction Equipment India Pvt. Ltd.
Other vendors mentioned in the report are Bharat Earth Movers Ltd., Caterpillar Inc., Doosan Corp., Escorts Construction Equipment Ltd., Ingersoll-Rand plc, JCB India Ltd., Kobelco Construction Machinery Co. Ltd., Leyland Deere , Mahindra & Mahindra Ltd., Terex Corp., and Volvo Construction Equipment.
Commenting on the report, an analyst from the team said: The crawler excavator is the fastest selling earth moving equipment in India. In 2013, a total of 16,141 units of crawler excavators were sold. This figure is estimated to increase to 50,091 units by 2018. The increasing growth of the Crawler Excavator segment of the Excavator market in India is attributed to the rising demand for 20 ton and 30 ton crawler excavators that are widely used in the Construction and Mining industries.
According to the report, one of the major growth drivers in the market is the increasing investment in infrastructure projects by the government of India. The investment in infrastructure projects has been estimated to be US$1 trillion during the 12th five-year plan (2012-1017).
For more information visit http://www.researchandmarkets.com/research/hpt3pt/excavator_market
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