DUBLIN, Mar. 02, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/8rdc6x/global_skidsteer) has announced the addition of the "Global Skid-steer Loader Market 2015-2019" report to their offering.
The Global Skid-steer Loader market to grow at a CAGR of 10.35% over the period 2014-2019
Skid-steer loaders are a type of loaders that are used in the Construction industry for carrying out various tasks on the construction site. Skid-steer loaders are compact in size, sport a small rigid frame, and an engine-powered machine with lift arms. They are fitted with attachments and labor-saving tools. Skid-steer loaders are highly maneuverable because of their compact size, and their ability to support attachments make them versatile in nature.
The growth of the equipment rental business is one of the major trends emerging in the market. The high prices of earthmoving equipment have led to vendors providing equipment on a rental basis, making it cost-effective for customers.
According to the report, one of the key drivers of this market is the urban development in the emerging Construction markets. The urban development has led to a rise in the number of construction projects in emerging markets such as the BRICS countries and GCC countries, escalating the demand for skid-steer loaders.
Further, the report states that the rise in manufacturing costs is one of the major challenges in the market. The manufacturing of skid-steer loaders requires a high level of initial investment. Moreover, the increase in the price of raw materials raises the manufacturing cost of the equipment while shrinking the profit margin of manufacturers.
Other Prominent Vendors
- Hitachi Construction Machinery
- JC Bamford Excavators
For more information visit http://www.researchandmarkets.com/research/8rdc6x/global_skidsteer
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SOURCE Research and Markets