Fact.MR has published a report that provides in-depth information about recent developments in the excavator market. The report features a comprehensive list of leading stakeholders and new entrants in the excavator market, which includes Caterpillar Inc., Deere & Co., Hitachi, Ltd., KUBOTA Corporation among others. The report also highlights trends, market forecasts and competition tracking.
Some key developments in the market include:
- Deere & Co. – a leading American manufacturer of construction equipment – recently entered a supplier partnership with Wacker Neuson – a German supplier and distributor of construction equipment. The company aims to provide compact excavators in Asian excavator markets, such as China, Oceania, and Southeast Asia, with this partnership, and to capitalise on lucrative opportunities emerging in the region.
- Volvo Construction Equipment and Services, Inc. announced that, with the use of the cable-connected and dual-powered, 70-ton excavator prototype – EX1 in its ‘Electric Site’ research project, the company has reduced carbon emissions by 98%, energy costs by 70%, and operational costs by 40%. The company carried out this experiment with its customer Skanska AB, a Swedish construction and development company.
Due to the slowdown in the excavator market, many manufacturers are focusing on introducing innovative performance features of excavators to boost sales. Leading vendors are investing in technology and R&D to capture lucrative sales opportunities in developed countries.
Since stringent regulations continue to challenge manufacturers and customers to reduce the environmental footprint of the equipment they use, a majority of excavator manufacturers are launching electric excavators to meet the regulatory and customers’ changing requirements. Click here to read the full overview of the excavator market. – Fact.MR