Shopping Cart 0
Cart Subtotal
AED 0

Media Releases

Hyundai, Volvo, Komatsu and Caterpillar are the leading Companies in Philippines Excavator Market

Posted on 01 August 2016 by KenResearch Manufacturing And Construction ,

The industry is considered as a major force driving the sale and rental activities in the Philippines excavator market. In the year 2015, Philippines managed to attract FDI worth USD 102.6 million in construction sector which is nearly 16 times increase compared to previous year. Growth in FDI is majorly boosted by passing PPP act attracting private investment in infrastructure and social sector.

With estimated 58.2% contribution to GDP coming from services sector, sale of real estate office space and infrastructure development is also expected to increase the demand for sale and rental of construction machinery including excavators, hence generating revenue for the market.

Backhoe technology is used in excavators specifically designed for digging and loading. In addition to this, the technology helps in maintaining the smaller size of machine, which helps in easy functioning. It gives better view of job executed by operator. These facts leads to construction workers buy the machine and generating revenue for market.

The excavators equipped with this technology in the Philippines excavator market are minimum in number as these excavators are used only for long distances either high up in the air for demolition and for pulling down the structures.

Absence of high rise buildings in the Philippines which needs to be demolished is the major factor which constrains the sale of long reach/long arm excavators.

Rental may only be used for ultra large machines like dragline excavators and power shovels as their use is restricted due to specific expertise and maintenance requirement.

Power shovel is sometimes preferred by people owing to its availability with back hoe and front shovel configuration. The equipments above 600 HP are considered as power shovel. Moreover, the features such as revolving device, crane with lifting arm and bucket, counterweight and controls further attracts the consumer towards these power shovel.

Development of new technologies, improved fuel economy and price competition will lower rental rates attracting more business as they will provide service through highly skilled personnel, low maintenance cost and much easier to operate and service.

Most major railway projects and expressway projects are concentrated in Manila region is another factor which has assisted growth in market share in excavator market sale

Hyundai heavy equipment is present in the Philippines in association with Good Morning International Corporation. The company dominated the Philippines excavators market

Philippines BPO industry is expected to grow at a rate between 15.0%-20.0% from 2016 to 2018. This will boost demand for houses, office space, and other infrastructure and consumption of goods ultimately leading to use of rental excavators as majority of players in these projects are SME’s.

Over the years, economy of Philippines is growing supported by positive growth in construction, which has also pushed the rental of excavators in the Philippines market. Excavators are number one construction equipment and will continue its prominence as they develop into multifunctional applications enhancing connectivity, monitoring and emission reduction.

For more information on the market research report please refer to the below mentioned link:


https://www.kenresearch.com/manufacturing-and-construction/machinery-and-parts/philippines-excavator-market-report/42050-97.html

Contact:

Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
+91-124-4230204

...

Read more…

Growth in Construction and Real Estate and Entry of New Players is Expected to Boost Excavator Market: Ken Research

Posted on 28 July 2016 by KenResearch

Increased demand for real estate supported with investment in infrastructure development to support economy growth will create additional demand for excavators.

Philippines excavator market is expected to grow at a CAGR of 8% to 2020 on the back of increasing demand for houses by growing middle class, office space by rising service industry especially BPO sector and investment from government in developing infrastructure.

In 2015, majority of market share is captured by five major manufacturers of excavators. They have their exclusive distributors at all the three major islands of the Philippines including Luzon (Manila), Visayas (Cebu city), and Mindanao (Davao city), which provide them accessibility to major customers in the market. Most of these distributors are in sale of new excavator and also offers rental services. Rental market is majorly driven by small rental companies who are spread across all major islands in the Philippines serving the needs of small contractors and Small and Medium Enterprises (SME). There is need for increased activity by construction and rental association to get more number of contractors and rental companies under its umbrella to increase networking and create new business opportunities for use of excavators.

Increased demand by small contractors and SME’s involved in developing real estate sector for rising middle class and Overseas Filipino Worker (OFW) is also expected to fuel the demand for excavators during the forecast period. Demand for office space by Business Process Outsourcing (BPO) sector and houses by emerging middle class are other prominent reason which is expected to increase the use of excavator in the country. Increased investment in infrastructure development will also augment excavator market.

Increased current and expected future demand for housing and infrastructure will boost excavator market in future attracting major players to increase their geographic presence and entry of new players. Cheap labor and manufacturing benefits from government may attract setting up of manufacturing unit by some manufacturers. Increased competition to gain market dominance will make excavators more price competitive benefiting end users in both sales and rental market. Government commitment to reduce GHG emission will lead to stricter emission norms and demand for fuel efficient and hydraulically more advanced excavator will sale of new excavators.

The report titled “Philippines Excavator Market Forecast to 2020 – Growing Construction Activities and Demand for Real Estate to Shape Future Potential” provides detailed overview on the Philippines Excavator Market and helps readers to identify the ongoing trends in the market and anticipated growth in future depending upon changing market dynamics in coming years. The report will help existing distributors, manufacturers and rental companies along with end users in construction, mining and real estate sector to align their market centric strategies according to ongoing and expected trends in the future.

For more information on the report scope, list of figures, tables and methodology, refer to below link:

 

https://www.kenresearch.com/manufacturing-and-construction/machinery-and-parts/philippines-excavator-market-report/42050-97.html

 

Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
+91-124-4230204

...

Read more…