Excavator Market in Japan 2017-2021
Overview of the excavator market in Japan
The excavator market in Japan is anticipated to grow rapidly and will post a CAGR of close to 18% during the forecast period. The increasing development of healthcare facilities and disaster prevention projects in Japan will drive the growth prospects for the excavator market during the forecast period. Since Japan is highly prone to frequent natural calamities such as earthquakes, the need for prevention projects and the demand for the excavators in the country increases. For instance, Japan is targeting to accomplish a disaster prevention project by 2018, which includes the field investigation for a landslide at 15,000 sites across the country. Such projects require the efficient deployment of either mini excavators or medium-sized excavators to perform desired excavation operations. In the case of field investigation, mini excavators are highly beneficial as they can be easily used in remote locations. Another such prevention project that Japan has on its list includes the construction of 28,000 serviced homes for senior citizens, which is expected to be completed by 2025.
The increasing demand for energy-efficient excavators in the country will drive the growth prospects for the market in the forthcoming years. One of the factors driving the market’s growth is the effort taken by companies to achieve green building certifications for their projects by minimizing emissions and pollution throughout the lifecycle of the project. Also, the introduction of stringent emission regulations for construction equipment in Japan to minimize pollution and promote sustainable development is also affecting this market’s growth prospects.
Competitive landscape and key vendors
The vendors in the excavator market in Japan compete against each other by providing customers with advanced technologies, energy and fuel efficient machines, customized solutions, and seamless after-sales services. To provide energy and fuel-efficient solutions to the customers, most vendors are focusing on product development and R&D. Also, with the rising demand for remote monitoring systems in excavators, vendors are focusing on the development of devices that are highly accurate and user-friendly.
Key vendors in this market are -
- Hitachi Construction Machinery
- Kobelco Construction Machinery
Segmentation by type of excavator and analysis of the excavator market in Japan
- Wheel hydraulic excavators
- Hybrid hydraulic excavators
- Large excavators
- Mini excavators
- Hydraulic excavators
The hydraulic excavators segment accounts for the maximum market share in 2016 and will continue to dominate the market until the end of 2021. Hydraulic excavators are the most popular excavators in the country as they can be used to perform a wide variety of construction tasks such as digging, trenching, and land clearance. Also, the customers prefer hydraulic excavators over other types as they are one of the most user-friendly earthmoving equipment. Furthermore, the recent rise in the number of infrastructure projects in the country will lead to a higher demand for hydraulic excavators during the forecast period.
Growth drivers, challenges, and upcoming trends: Attractive financing options
The manufacturers of excavators are providing attractive financing options to facilitate marketing options and increase product sales. The availability of financing options for excavators offers companies the opportunity to procure the equipment with minimal effect on their budget.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the excavator market in Japan. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the excavator market in Japan?
- What are the key market trends impacting the growth of the excavator market in Japan?
- What are the challenges to market growth?
- Who are the key vendors in the excavator market in Japan?
- What are the market opportunities and threats faced by the vendors in the excavator market in Japan?
- What are the trending factors influencing the market shares of Japan?
- What are the key outcomes of the five forces analysis of the excavator market in Japan?
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