Mobile Equipment Manufacturers to Tap Latent Technological Opportunities in Emerging Markets, Finds Fact.MR
Published : 01 Mar 2019 Industry: Industrial Goods
Global sales of mobile equipment is likely to soar at a considerable pace, owing to rising need of efficient equipment with exceptional performance. Consumer demand for compact and economical mobile equipment is on a drastic rise, which is resulting in product innovations and developments. These insights are as per a latest Fact.MR report that projects an optimistic outlook for mobile equipment market.
With emerging markets catching up on technology, high profitability can be foreseen for the suppliers of mobile equipment. Digitization of machines has been identified as an overarching trend having profound influences on development of mobile equipment. Manufacturers of mobile equipment are focusing on integration of sensors to achieve multimodal efficiency, which is another prominent trend in mobile equipment manufacturing. Rapid digitization of the construction industry with heightened adopting of smart devices is one of the key reasons triggering adoption of mobile equipment.
The report finds that ‘renting over buying’ evolves as a key trend influencing the demand curve of mobile equipment. With many end-users requiring equipment for a stipulated time period, end users are showing marked preferences for renting, which will cost relatively lower. Manufacturers of mobile equipment are offering their products at competitive prices and utilizing their technical know-how for customer specific operations to gain substantial profits.
“Manufactures of mobile equipment are integrating Internet of Things (IoT) and advanced analytical technologies for performance enhancement of their products. According to the Fact.MR report, key companies offering mobile equipment are emphasizing on future-proof designs for making their products competent enough in terms of adaptability to new realities“, Senior Analyst, Fact.MR
Light Towers Witness Fastest Penetration on Back of Construction & Mining Activities
Demand for light towers remains highly influenced by rising clamor for superior quality industrial lighting systems. Booming construction activities are creating favorable circumstances for sales of light towers, with high-scale installation across outdoor construction sites. As per the Fact.MR report, the light towers market is likely to register a health expansion at a volume CAGR of over 4% through 2027.
Rising demand for ensuring safe working environments amidst poor lighting is necessitating the adoption of light towers. A promising comeback of the mining industry has also bode well for the manufacturers of light towers in terms of heightened adoption. According to a revelation by the United States Census Bureau, mining recorded one of the largest absolute increases vis-à-vis capital investments, i.e. 75.9 percent from 2006 to 2015. This increase in vigor of mining activities is likely to push the demand for better illumination equipment, bolstering sales of light towers.
The Fact.MR report finds out that LED light towers are likely to put halide variants in shade, owing to multi-pronged benefits enhancing product essentiality. Affordable prices in tandem with high fuel efficiency, i.e. twice as compared to that of metal halide light towers, is one of the key factors empowering demand for LED light towers. With high compatibility and better illumination, LED light towers are likely to record the fastest Y-O-Y growth in 2019 with skyrocketing demand.