Global Soil Compaction Machines Market to Discern Steadfast Expansion

Posted by Arslan on February 19th, 2019

A comprehensive analysis and an accurate forecast on the soil compaction machines market for the period between 2018 and 2028 has been delivered in this report. An exhaustive assessment has been offered on important aspects, such as drivers, opportunities, trends, and restraints, impacting growth of the soil compaction machines market. The report offers valuable insights on the soil compaction machines market, which in turn is expected to aid readers in making fact-based decisions for future direction of their businesses.

Soil Compaction Machines Market Reflects Consolidation of Prominent Players

The soil compaction machines market is dominated by tier 1 and tier 2 players owing to its capital intensive nature. Prominent players occupy the largest market share with their superiority in production capacity and premium service delivery. In addition, big ticket construction projects prefer collaboration of construction equipment companies with significant market presence. As tier 1 and tier 2 players capture the total market share, the soil compaction machines market reflects a highly consolidated landscape.

Increasing Focus on Lowering Operating Costs to Trigger Adoption of Advanced Telematics Solutions in Soil Compaction Machines

Adoption of telematics in the automotive sector is gradually increasing owing to stringent government mandates and consumer preference for connected vehicles. In the heavy-duty equipment market, preventive maintenance and regular inspection significantly add to the overall operating costs. Manufacturers in the soil compaction machines market offer service contracts and extended warranties to control operating costs throughout the lifespan of the machines. However, amalgamation of telematics in the heavy-duty vehicle fleet has proved beneficial for fleet manager in optimizing machine operations and lowering overall operating costs. Following the trend, leading players in the soil compaction machines market such as John Deere and Volvo had introduced machine monitoring services last year. The adoption of advanced telematics to reduce operating costs is likely to gain further momentum in the soil compaction machines market in the future.

Asia Pacific Presents Lucrative Opportunities for Soil Compaction Machines Market

With the increasing focus on urban development and better connectivity, Indian Government is investing heavily to strengthen its transport infrastructure. Policies such as re-surfacing of roads in specific time period has increased the demand for construction raw material as well as construction equipment. In China, the ‘one belt, one road’ initiative is playing a prominent role in the rapid expansion of transport infrastructure in China and stretches to Central Asia, Middle East and Europe. Significant investments in the construction of roads & highways and pivotal role of compaction equipments in road infrastructure are generating lucrative avenues in Asia Pacific for soil compaction machines manufacturers. 

Manufacturers Rely on Predictive Analytics to Mitigate Concerns Related to Repair & Maintenance Costs and Frequent Downtime

End-users in the soil compaction machines market continued to show a marked preference for renting vis-à-vis owning. This is primarily attributed to significant cost savings that renting offers over full ownership. Although the prevalent status-quo is advantageous for end-users, it poses challenges in terms of higher overhead costs for manufacturers. To address this challenge, manufacturers in the soil compaction machines market are investing in predictive analytics technology, including Big Data and IoT which enables manufacturers to gain information on maintenance time, prior to failure. In addition, growing emphasis on reducing the lead times is also driving adoption of innovative technology among soil compaction machines manufacturers. For big ticket construction projects, low downtime is a critical factor – with the awareness of these challenges, manufacturers in the soil compaction machines market are increasingly relying on technology to navigate the evolving landscape.

Competitive Landscape

In the competitive landscape section, the soil compaction machines market report profiles the key players in the soil compaction machines market. The section offers vital insights including product offerings, business strategies and market size of individual companies. Few of the market players profiled in the soil compaction machines market report include Caterpillar, Inc., Volvo Construction Equipment, J.C. Bamford Excavators Limited, John Deere, and Hitachi Construction Machinery Co., Ltd.

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