Global Wheeled Tractors Market 2014-2018 with Caterpillar, Hitachi Construction Machinery, Komatsu & Volvo Dominating
Apr 20, 2015, 11:17 ET
DUBLIN, Apr. 20, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/5kl8sf/global_wheeled) has announced the addition of the "Global Wheeled Tractors Market 2014-2018" report to their offering.
The Global Wheeled Tractors market to grow at a CAGR of 6.23% over the period 2013-2018
Robust growth of equipment rentals is one key trend emerging in the market. The Construction Equipment industry is capital-intensive in nature, which involves huge investments. As many small firms are unable to invest heavily in advanced equipment, many vendors offer equipment on a rental basis. This is expected to lead to increased adoption of wheeled tractors in the Construction industry.
According to the report, one of the major drivers stimulating the growth of the market is the increased investment in infrastructure projects. Robust economic growth and rapid urbanization are propelling the demand for infrastructure. Currently, 50 percent of the world's population lives in cities, and this is estimated to reach 70 percent by 2050. Rapid urbanization calls for high investment for developing infrastructure such as railroads, highways, and ports, which leads to increased demand for wheeled tractors.
Further, the report states that high prices of raw materials are one of the major challenges that the market faces. A rise in the prices of raw materials affects vendors as it increases production costs, thereby leading to a low profit margin.
Key Vendors
- Caterpillar
- Hitachi Construction Machinery
- Komatsu
- Volvo
Other Prominent Vendors
- Doosan Infracore
- Guizhou Jonyang Kinetics
- Hyundai Heavy Industries
- JCB (Shanghai) Construction Machinery
For more information visit http://www.researchandmarkets.com/research/5kl8sf/global_wheeled
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SOURCE Research and Markets