Fast Market Research announces the availability of Technavio's new report "Excavators Market in France 2015-2019" on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 08/14/2015 -- Excavators are used in construction activities to dig and scoop materials from land. The equipment primarily comprise a bucket that is attached to a boom, and a rotating platform that is usually mounted on crawlers or wheels. Excavators have many utilities in activities, such as levelling of land, digging of trenches, and sinking of wells.
In 2014, the demand for excavators grew by 6.2% year-on-year in France. The demand has been increasing since, and at a rapid pace. Increase in construction activities has been driving the excavator market in France. Currently, as of Q1 2015, large-scale investment is taking place in the country, particularly in the construction of new power plants and development of transport infrastructure.
Moreover, we expect the forthcoming UEFA EURO 2016 to inflate the volume of tourist traffic in the country. As of 2014, the total inbound tourists to France was 83.7 million. Major initiatives are being taken for development of transport infrastructure. In 2014, the Ministry of Railway in France approved a proposal for the construction of two high-speed railway lines between Bordeaux Southeast and Toulouse, and Bordeaux and Spain. The project is slated to start by 2017.
Besides, there is a lot of emphasis on reducing the nuclear energy consumption by 50% in the country by 2050. The government is actively focused on the development of renewable energy infrastructure. Upcoming projects in that direction will also likely propel the demand for excavators in France.
However, a cut in government spending may hamper market growth. Presently, the Government of the French Republic is facing high public debt, which increased by 95.4% in 2014. The country has plans of reducing its spending in various segments, including infrastructure projects, to address the public deficit, which may have adverse effect on the growth of the construction sector and, consequently, the excavator market in France.
Technavio analysts forecast the excavator market in France to grow at a CAGR of 6.80% during 2014-2019.
Get More Details on this Report and a Full Table of Contents at Excavator Market in France 2015-2019
Commenting on the report, an analyst from Technavio's team said: "Recent growth of the equipment rental business is a major trend observed in this market. High ownership cost of equipment is leading many construction firms and SMEs to use construction equipment on a rental basis. This allows construction companies particularly SMEs to reduce their costs and operating expenses, thereby lowering the overall construction cost."
According to the report, increasing investment in transport infrastructure is one of the primary drivers that promote growth in this market. More people in France are moving to cities in search of better job opportunities, which is fueling demand for enhancement of transport infrastructure.
Further, the report states that the lack of product differentiation is a key challenge faced by this market. R&D activities require huge capital investments to support product differentiation with long maturity return. However, sourcing of capital is the main constraint for vendors when a new product is being considered.
The key players in the Excavators Market in France are Caterpillar Inc., Hitachi Construction Machinery, Komatsu Ltd., and Liebherr-International AG. while other prominent vendors include Volvo Group, JCB, and Hyundai Heavy Industries Europe.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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