Rising Investments in Infrastructural Development to Expand Heavy Construction Equipment Market

24/mar/2020 14:53:19 Automotive Market Research Reports Contatta l'autore

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Construction Lifting Equipment Market refers to vehicles and machinery & equipment that are useful for applications such as earthwork operations and material handling. A detailed report on the global heavy construction equipment market is offered by Market Research Future (MRFR). It unravels that the market is prognosticated to strike a steady CAGR over the review period. Unlike its name, the product is widely used in industries such as mining, oil & gas, military, agriculture, etc. Increasing applications are anticipated to drive the growth of the heavy construction equipment market in the forthcoming years.

The rising investments in infrastructural development, especially in the developing economies, is expected to drive the proliferation of the market in the years to come. Also, increasing demand for residential and commercial spaces is poised to influence the heavy construction equipment market positively. The impact of these factors is further intensified by rapid urbanization and industrialization.

Technological sophistication has led to the innovation of product lines of heavy construction equipment manufacturers. It is supposed to impact the expansion of the market rapidly over the next couple of years. Also, the ongoing trends in the construction industry such as modular construction, smart buildings, etc. are expected to unleash opportunities for the market players. In recent years, renting services for these equipment have been observed to be in high demand. The report unravels that this trend is projected to bear a favorable effect on the growth rate of the heavy construction equipment market.

Market Segmentation:

The type-based segments of the heavy construction equipment market are earthmoving equipment, heavy construction vehicles, material handling equipment, and others. The sub-segments of the others segment are cranes, excavator, and dozer.

The segments of the heavy construction equipment market, on the basis of application, covered in this MRFR report are mining & excavation, transportation, lifting, earthmoving, material handling, and others.

By end-users, the heavy construction equipment market has been segmented into oil & gas industry, military, mining, agriculture & forestry, construction industry, and others.

Regional Analysis:

The geographical analysis of the global heavy construction equipment market covers the following regional segments – Asia Pacific, North America, Europe, and the Rest of the World (RoW). These segments are then studied to present a country-level analysis of the global market. Asia Pacific. At present, holds more than 50% of the market share. It is presumed to continue its dominance over the assessment period. Increasing construction activities in the region owing to rapid urbanization is anticipated to drive the growth of the heavy construction equipment market in the foreseeable future. North America is likely to secure its standing at the second spot in the upcoming years. The investments in the revamp of the construction sector in the region is poised to act as a growth catalyst to market expansion. In addition, increasing shale gas exploration activities are also assessed to contribute to the development of the heavy construction equipment market.

Competitive Dashboard:

caterpillar, Cnh Global Nv, Doosan Infracore Ltd, Hyundai Heavy Industries Ltd, John Deere & Co., Jcb, Hitachi Construction Machinery Co. Ltd, Kobelco Construction Machinery Co. Ltd, and Komatsu Ltd. are some of the key participants of the heavy construction equipment market.  

Industry News:

In December 2019, BEML Limited, a leading Construction & Mining Equipment manufacturer of India, has announced the launch of BE210LC, a new Hydraulic Excavator model.

In December 2019, CNH Industrial and Nikola Motors have announced a joint venture for the launch of a heavy truck.

In December 2019, Sany, a leading equipment manufacturer, has announced the launch of over twelve construction products at Excon 2019, a construction equipment exhibition.

In December 2019, South Asia’s largest construction equipment trade fair, EXCON, has been held at Bangalore International Exhibition Centre, India.

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