Construction Equipment Market Set to Reach a Market Value of USD 200 Billion by 2022

“Construction Equipment Market”
Construction Equipment Market by Equipment (Earth Moving, Material Handling), Application (Oil & Gas, Infrastructure), End-use (Lifting) – Forecast 2022

Synopsis of Construction Equipment Market:

Market Research Analysis:

The construction equipment market is constantly enhancing with changing technologies and huge infrastructure developments. The companies in this market rely on local and regional distributors to enhance the geographical presence in the market. Inorganic growth strategies such as acquisitions are followed by companies to cope with increasing demand for construction equipment in key markets. This helps companies to create a large customer and partner base in key markets. The change in operating conditions and applications requirements for construction equipment make it necessary for manufacturers to invest in R&D to come up with new products.

Additionally, the market share of APAC region was valued to be over 60% in 2015. It is expected that the region is going to show similar trends by the end of the forecasted period due to the increased requirement of infrastructure, public utility and commercial and non-commercial construction in emerging nations of China and India. The region is marked with increasing population, rapid urbanization and need for economic development. This drives the market for such construction equipment to support the population and urbanization in the nations of Asia pacific. The global construction equipment market is expected to cross USD 200 billion by the end of 2022 with a growth rate of approximately 8% in the forecasted period.

Major Key Players:

The key players of global Agricultural Films market report include- AB Volvo, Caterpillar Inc., Komatsu Ltd., Doosan Heavy Industries & Construction Co. Ltd., Hitachi Construction Machinery Co. Ltd., J.C. Bamford Excavators Limited, Kobe Steel Ltd., Liebherr Group, Atlas Copco AB,  and Hyundai Heavy Industries Co. Ltd.

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Market Forecast and Overview:

Construction Equipment Market estimated to reach USD 200 Billion by 2022 at a CAGR of around 8% till 2022.

Construction equipment market players follow various strategies like agreements, expansion, joint ventures, partnerships and contracts to acquire a larger share in market. Countries with emerging markets are being focused by construction equipment providers which are expected to show a huge potential for industrial developments in the future. The major driver for growth of this sector is the increasing investments done to improve infrastructures. The major factors  that will affect the construction equipment market in near future are global economic growth, public private partnerships, increase in oil prices, increasing government expenditure in infrastructure development, industrial, commercial and residential investments and a few more. The market is expanding with the increasing demand for residential & industrialization and commercial infrastructure developments.  Improving economic conditions are also helping in growth of this sector.

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Report Scope:

This study provides an overview of the global construction equipment industry, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global construction equipment market as equipment, application and end-use. On the basis of equipment it is segmented as earth moving, material handling, concrete, and others. On the basis of Application it is segmented as oil & gas, infrastructure, construction, agriculture, mining and others. On the basis of end-use it is segmented as lifting & material handling, earth moving, excavation, transportation, and others.

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