According to Goldstein Research, “Rapid urbanization and huge government-led investments in new transport and other vital infrastructures are the major factors for the growth of Excavator Attachments Market growth.”Moreover, the competitive advantage of excavator attachments lies in technological advancement and a wide product portfolio, which is also the major factor to maintain the market presence.
“Global Excavator Attachments Market Outlook 2024”
The global excavator attachments market is segmented based on product and by end users. End users segment is further bifurcated into agriculture, construction and utilities, landscaping, mining, snow and ice, and waste and recycling. Since excavator attachments are used in both the large and small-scale infrastructure development projects, the construction segment accounted for the highest share and dominated the market during 2016. Further, the upsurge in the number of infrastructure projects by the governments of developing countries across the world will push the market growth in this sector over the forecast period. The growth of Excavators Market is also boosting the demand of excavators attachments.
Browse Full Report: Excavator Attachments Market
Goldstein Research predicts that the global excavator attachment market will grow gradually during the forecast period and post an impressive CAGR of more than 7.8% during forecast period. According to our research the rise of Mexico, Indonesia, Nigeria, and Turkey as one of the primary growth factors for this market.
Asia-Pacific is the largest region for excavator attachments market in 2016 and is expected to dominate the market during the forecast period of 2016-2024. Asia-Pacific excavator attachments market acquired more than 32% of the global market and is likely to grow at significant CAGR over the forecast period. China is expected to dominate the excavator attachments market followed by India due to large construction activities in these countries. Moreover, Indonesia is expected to be the most opportunistic country in the region attributed to the government’s focus on infrastructure development and industrial construction, and the rollout of the multiyear master plan for the acceleration and expansion of Indonesia’s economic development.
Development in Latin America: Major Boost
Construction industry of Brazil is witnessed 13% CAGR 2007-2012, in line with a flourishing national economy and growing mid-income group. Construction equipment market is enjoying +12% annual revenue growth attributed to government infrastructure programmes. Further, significant investments in large mining projects in several countries in Latin America are also creating huge growth opportunities for the excavator attachments market growth. On the other hand, in Mexico, government initiatives to develop transport infrastructure and high value-add industries, coupled with population enlargement will propel the growth of excavator attachments market growth in the region.
“Global Excavator Attachments Market Outlook 2024” contains a detailed overview of the global excavator attachments market in terms of market segmentation by product and by end users.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Excavator Attachments Market Report also provides a competitive outlook of some of the major players which includes profiling of companies such as: Caterpillar Inc., Komatsu Ltd., Volvo Construction Equipment, Doosan Group, Hitachi Construction Machinery, Atlas Copco etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global excavator attachments market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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