Development pattern of Japan construction machinery industry
Japan construction machinery has experienced 3 phases from import substitution, export expansion to global supply. At import substitution phase, value of its construction machinery increased 16 times, compound growth rate reached 16.6%, while in the latter two phases, the rated slowed down to 4.5% and -1.6%. During the fast development period, the domestic real estate and huge investment on infrastructure construction created large demands for construction equipments. And the industry focused a lot on technology innovation and efficiency promotion. Also, strong support from its government played a very important role.
Just take Komatsu, the second largest construction equipment supplier in the world for example, what do you seen from it? Why it is always spoken highly of ? Something should we really learn from it?