Excavators Machine Control System Market is Anticipated to Grow at a CAGR of 10.7% During The Forecast Period 2017-2022
As per the report Excavators Machine Control System Market By Type ( Total stations, GNSS, Laser scanners, Airborne systems, GIS collectors ) By Application ( Construction, Transportation, Agriculture, Mining, Marine, Waste management, Utilities ) Estimation & Forecast, 2017 - 2024" In 2016, the total stations segment generated the highest revenue share in the global excavators machine control system market. Among major regions, North America was the highest revenue generating market, holding nearly 30% of the market share, in 2016.
“Excavators machine control system are designed to act as an aid to the operator, and not as a hindrance. Such systems deliver assistance for the difficult task of loading, positioning and operating in confined spaces, by locating the obstacles surrounding the excavator in scale, real time, and distance. Obstacles are displayed with their original outline and audible warnings are given during critical situations. These systems have proved to be a cost effective solution to a numerous costly problems.
Mining segment expected to show an impressive growth rate during the forecast period, owing to the surge in mine productivity
The size of the mining equipment has increased owing to the surge in mine productivity. Despite putting in tremendous efforts of mine management and plant operators, accidents on mine sites remain an industry wide problem. Huge excavators have considerable operator blind spots that lead to site accidents. Machine control systems offer aid to the operator and contribute in reducing the risk rate along with increasing the site productivity. The mining segment is anticipated to grow at an impressive CAGR of 10.5% during the forecast period.
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The trend of ‘factory ready’ to rise above the ‘factory fitted’ trend, owing to the importance of machine control technology
The trend to provide machines as ‘factory ready’ for machine control is on the rise as more and more market players are realizing the importance of machine control technology. ‘Factory ready’ reduces the install time, while allowing experienced installers to focus on optimizing the system, checking on communication links, solving data handling and training the operator.
North America accounted for the largest market share for global excavators machine control system market, owing to the rising construction activities in the region
Construction is a major contributor to the U.S. economy. In 2016, the Federal Government construction projects contributed approximately $110 billion in the U.S. economy. Factors such as extensive construction projects, including commercial & noncommercial buildings, highways, and emerging economies are expected to offer considerable growth of the market in this region. North America held nearly 30% market share, in terms of revenue, of the global market.
KEY FINDINGS OF GLOBAL EXCAVATORS MACHINE CONTROL SYSTEM MARKET, 2012-2022
• The market is expected to offer lucrative opportunities to the key market players along with the new entrants as a mammoth amount of investment is being poured into the R&D department of the leading market players.
• The marine segment is anticipated to grow with the highest CAGR of 11.3% during the forecast period.
• Market players are focusing on partnerships to attain large share of the global market and become the market leader. Key players such as Topcon and Komatsu have a long term partnership which allows customers to order Komatsu machines that are factory-fitted with Topcon technology.
• North America led the global excavators machine control system market in 2016, in terms of revenue, by holding nearly 30% of the total share.
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