Earthmoving equipment market segmentation by type
Technavio’s report analyses the solutions and products offered by market vendors and presents a comprehensive breakdown in terms of market segmentation for different types, including loaders, construction tractors, and excavators.
The new report by Technavio also emphasizes the growth of equipment rental businesses, as owning construction equipment involves a substantial investment. Construction companies, especially SMEs, face budget constraints, making it difficult for them to purchase earthmoving equipment.
“Earthmoving equipment can be leased on a daily or yearly basis, which allows construction companies to use expensive earthmoving equipment without major monetary investments. This trend is leading to a significant growth in the rental business for earthmoving and other construction equipment in the UK,” says Faisal Ghaus, Vice President of Technavio.
Earthmoving equipment: Market scope and calculation of market size
This report covers the present scenario and growth prospects for the earthmoving equipment market in the UK from 2015-2019. To calculate the market size, we considered the consumption value of earthmoving equipment in the UK and segmented consumption value on the basis of three major types of earthmoving equipment.
Industry analysis includes:
- Volvo Construction Equipment
Market Growth Drivers:
- Increased investment in infrastructure
- Replacement of dated earthmoving equipment
- Growing customer needs
- High price of raw materials
- Growth of equipment rental business
- Rise in demand for energy-efficient equipment
View the earthmoving equipment market in the UK report.
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