Heavy Construction Equipment Market Insights
The global heavy construction equipment market is expected to grow at a CAGR of 8.01% over the forecast period. This growth is mainly attributed to rising construction activities in developing countries globally. Along with this, growing trend of urbanization coupled with increasing investment in infrastructure is also likely to stimulate market growth.
Moreover, rising number of government initiatives to improve facilities globally is expected to augment the market growth over the coming years. The increased spending on non-residential private construction globally is also anticipated to foster the market growth. However, factors such as weak economic conditions and stringent government regulations against the use of heavy construction equipment are projected to affect the profitability of market.
Heavy Construction Equipment Market: Type Insights
On the basis of type, the industry is segmented into earth moving equipment, material handling, and heavy construction vehicles among others. The earth moving equipment is further segregated into crawler excavators, mini excavators, wheeled excavators wheeled loaders, skid-steer loaders, dozers and motor graders among others. The market for material handling machinery such as cranes, forklifts and dumpers are expected to occupy the highest share owing to increasing investment in infrastructure by government in developing countries.
The eath moving machinery segment is also projected to grow considerably over the years on account of rising development of transport infrastructure in countries such as India, Indonesia and Malaysia.
Heavy Construction Equipment Market: Vertical Insights
On the basis of vertical, the market is segmented into construction & manufacturing, oil & gas, public work & rail road and mining among others. Out of these, construction & manufacturing segment is anticipated to record the highest growth over the forecast period owing to increasing public & private investment for improving the infrastructure in various developing countries.
Heavy Construction Equipment Market: Application Insights
Heavy Construction equipment finds its application in excavation & demolition, heavy lifting, tunnelling, transportation, and recycling & waste management. The excavation & demolition segment is anticipated to dominate the market over the forecast period owing to increasing mining activities. Moreover, rising incidence of natural calamities is also projected to lead to an increase in application of excavators.
Heavy Construction Equipment Market: Regional Insights
Asia Pacific accounted for a significant market share in 2016. This can be attributed to increasing number of residential and non-residential projects coupled with presence of key manufacturers in this region. Along with this, rising population and disposable income of consumers are also likely to favor the market. Demand is expected to arise from countries such as India and China among others.
Middle East and Latin America are also expected to emerge as a key revenue generating regions. This can be associated with rising infrastructural development.
Heavy Construction Equipment Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Heavy Construction Equipment Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase heavy construction equipment over the coming years. Some leading consumers of this market are Royal Dutch Shell, Skanska, and Hochtief.
Heavy Construction Equipment Market: Market Share & Competitor Analysis
The key players profiled in the heavy construction equipment include Caterpillar Inc., CNH Industrial N.V., Liebherr AG, Sany Heavy Equipment International Holdings Co. Ltd, Terex Corporation, JCB Ltd, Volvo Construction Equipment, Hitachi Construction Machinery Co. Ltd., Doosan Infracore Ltd., and Komatsu Ltd.
Please note: This is not an exhaustive list of companies profiled in the report.
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