The Construction Machinery Telematics Market Report provides a complete analysis of the market. The Report focuses on manufacturers, suppliers, segmentation according to the application, major players, customers, opportunities, future roadmap, and furthermore. The competitive data type analysis includes capacity, market share, profit margin, market growth, consumer consumption, imports, exports, revenue, and etc. Marketing strategies, policies, industry chain that are changing the wave of the market are also catered in the report.
The construction machinery telematics market (henceforth, referred to as the market studied) is expected to register a CAGR of 14.26%, during the forecast period, 2019-2024.
Top Companies in the Construction Machinery Telematics Market: Komatsu Ltd, Caterpillar Inc., Volvo Construction Equipment, JCB, Hitachi Construction Machinery Co. Ltd, CNH Industrial NV, Deere & Company, Hyundai Construction Equipment, Liebherr Group, Doosan Infracore Ltd, and others.
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Scope of the Report
Construction machinery telematics is an electronic device unit, which provides real-time access to machines by tracking engine hours, providing mileage report alerts, and monitoring fuel consumption. Additionally, equipment management personnel can receive alerts through fault codes when something is wrong with a piece of equipment outfitted with electronic monitors.
The construction machinery telematics market study includes telematics type (on-road and off-road) and machinery type (crane, excavator, telescopic handler, loader and backhoe, and other machinery types).
Key Market Trends
The Asia-Pacific Region is Expected to Continue to Capture a Major Share in the Future
Some of the major factors that may aid in driving the market studied are growing construction industry in the region, availability of a large number of heavy equipment, and the rising consumer base of mobile devices.
The projects under the Belt & Road initiative, which is aimed at building roads, railways, ports, and energy projects stretching from Chinas western regions to Europe, are expected to create a huge demand for construction equipment. Additionally, the market for excavators and other types of construction machinery is anticipated to strengthen in China over the forecast period. Government spending on municipal infrastructure projects is the key reason for healthy sales of construction machinery in recent months. For instance, cities around the country are expanding subways and other urban transportation systems. In 2018, China continued the implementation of proactive and sound monetary policies and the development plans of Guangdong, Hong Kong, and Macao Bay Area.
Moreover, in China, as the restrictions on foreign investment in land development, high-end hotels, office buildings, international exhibition centers, and the construction and operation of large theme parks have also been lifted. This is expected to increase the demand for high-performance equipment in the country, thus driving the construction equipment market.
India is still a developing economy, the construction sector is one of the booming industries in the country, and may continue to grow, due to increased demand for real estate and infrastructure projects. The Indian government allocated USD 90 billion in 2017 to build a road network of over 80,000 kilometers over the next 5 years, and USD 3 billion for Gram Sadak Yojana for construction of roads in rural areas. Furthermore, the United States government is also expected to increase its infrastructure spending by over USD 1 trillion in the next 10 years, with an aim to create more jobs in the country.
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The Asia Pacific is the fastest growing region in the Global Construction Machinery Telematics Market
The Asia Pacific is anticipated as the fastest growth during the forecast period owing to the economic instability, unorganized government regulations, increase in availability of illicit drugs and alcohol, rise in drug trafficking, lack of awareness, fewer literacy rates compared to developed countries, presence of more untapped regions, increase in adoption of western lifestyle, etc.
However, local governments are implementing various reforms to control alcohol consumption in APAC countries. According to the article “Impact of alcohol consumption on Asia published by the Institute of Alcohol Studies, it was reported that most countries in Asia do not have a national policy to reduce alcohol consumption. However, in countries with a predominantly Muslim population such as Bangladesh, the production, sale, and consumption of alcoholic beverages is prohibited by law. India’s constitution declares, “the State shall endeavour to bring about prohibition of the consumption of intoxicating drinks.” Even then, since independence in 1947 successive governments have followed different policies on alcohol and currently the central government is encouraging deregulation of alcohol production and liberal imports of alcoholic beverages.
Construction Machinery Telematics Market by Regions:
- North America
- South America
- Middle East & Africa
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: The Construction Machinery Telematics Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
Finally, Construction Machinery Telematics Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
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