MRO Magazine

Research and Markets: Earthmoving Equipment Market in South Korea 2015-2019 – Key Vendors Are Doosan Infracore, HHIE, Kubota & Sunward


September 17, 2015
By Business Wire News

DUBLIN

Research and Markets (http://www.researchandmarkets.com/research/whvhqt/earthmoving) has announced the addition of the “Earthmoving Equipment Market in South Korea 2015-2019” report to their offering.

The earthmoving equipment market in South Korea to grow at a CAGR of 6.53% over the period 2014-2019.

This report covers the present scenario and the growth prospects of the earthmoving equipment market in South Korea for the period 2015-2019. It also includes historical sales of earthmoving equipment in the construction equipment market in South Korea. In this report, the market size is determined by the consumption value of earthmoving equipment and the growth prospects of the earthmoving equipment market in South Korea is estimated after an analysis of the present condition of the market. In addition, the report discusses the major drivers influencing the growth of the market, and the major challenges faced by vendors and the market at large, as well as the key trends emerging in the market.

According to the report, the government of South Korea is focusing on developing nuclear power plants to reduce greenhouse gas emissions and meet power demand in the country. Currently, there are 23 reactors that generate around 21 GWe of electricity for South Korea, which fulfills almost 25% of the electricity requirement of the country. The government is planning to construct and bring 10 more reactors into operational state by 2020. Construction of these big nuclear power plants will drive the need for earthmoving equipment in South Korea.

Further, the report states that the high prices of raw materials is one of the key challenges for the market.

Key Vendors

  • Doosan Infracore
  • HHIE
  • Kubota
  • Sunward

Other Prominent Vendors

  • Caterpillar
  • Komatsu
  • Liebherr Group
  • Volvo

For more information visit http://www.researchandmarkets.com/research/whvhqt/earthmoving

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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Sector: Excavation and Earthmoving Equipment