Research and Markets: Crane Market in Japan 2015-2019
July 29 2015 - 5:10AM
Business Wire
Research and Markets
(http://www.researchandmarkets.com/research/nghpjn/crane_market_in)
has announced the addition of the "Crane Market in Japan 2015-2019"
report to their offering.
The crane market in Japan to grow at a CAGR of 23.06% over the
period 2014-2019
The crane market in Japan grew by 22.8% year on year in 2014,
driven by a rise in infrastructure construction. In December 2014,
the government allocated $14 billion for reconstruction of
infrastructures that were damaged during the 2011 tsunami and
earthquake. This increase in construction activities is expected to
increase the contribution of construction output to GDP from 9.68%
in 2014 to 9.99% in 2019. Also, Tokyo being the host of 2020
Olympics will result in revamping and renovation of the existing
infrastructure and development of new ones, which will lead to the
growth of crane market in the country.
The market size has been calculated based on unit sales of crane
in Japan and excludes that generated from the sales of used
equipment, contracts, and maintenance. The performance of the
market has been presented on the basis of the CAGR derived from an
analysis of present market conditions.
To reduce the cost burden for construction companies, equipment
manufacturers in Japan such as Kobelco Construction Machinery and
TADANO are offering equipment on a rental basis. This helps reduce
construction costs and operating expenses to a large extent. This
trend is likely to continue in the forecast period and drive market
growth.
According to the report, due to the upcoming Tokyo Olympics in
2020, the country will be improving its existing infrastructure and
developing new infrastructure, which will lead to the growth of the
crane market. We estimate that the market will grow during the
forecast period.
Further, the report states that currently labor shortage as a
result of a decline in the working-age population curtails market
growth.
Key Vendors
- Hitachi Construction Machinery
- Kobelco Construction Machinery
- Komatsu
- Tadano
Other Prominent Vendors
- Furukawa UNIC
- IHI Construction Machinery
- KATO Works
For more information visit
http://www.researchandmarkets.com/research/nghpjn/crane_market_in
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version on businesswire.com: http://www.businesswire.com/news/home/20150729005660/en/
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