Soil Compaction Machines Market Projected to Augment at a Notable CAGR
Posted by Arslan on January 16th, 2019
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.
For more information on this report, please visit: https://www.factmr.com/report/1978/soil-compaction-machines-market
Manufacturers Seek Procurement of Big Infrastructure Projects to Maintain Market Sustainability
As the soil compaction machines market remains cost intensive, reliance on rental solutions do not ensure market sustainability. Manufacturers in the soil compaction machines market continue to seek procurement of big infrastructure projects to capture higher profit margins for longer duration. For instance, JCB has recently announced that the company has received an Indefinite Delivery / Indefinite Quantity (IDIQ) contract from the U.S. Fish and Wildlife Service (FWS,) with annual investment up to million in construction machine orders for the next five years. Dynapac, a leading provider of soil compaction machines announced a fleet order from one of the largest construction companies in the Gulf. A fleet of Dynapac machines including eight new soil compaction machines- rollers are being used in the infrastructure projects in Kuwait.
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.
Expansion of product portfolio, acquisition and strengthening of distribution network are prominent market strategies adopted by the manufacturers in the soil compaction machines market.
Volvo Construction Equipment has expanded its production line of small soil compaction machines with the introduction of CR30B and CR35B combination rollers that are suitable for multiple applications.
Caterpillar, Inc. announced acquisition of Yard Club, a construction equipment technology start-up. The mergers and acquisitions are not only restricted to manufacturers, but dealer networks are also in the fray. For instance, J.C. Bamford Excavators Limited’s North America dealer network has announced expansion of Sigma JCB, a division of Sigma Equipment.
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About the AuthorArslan
Joined: December 18th, 2017
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