Heavy Construction EquipmentMarket 2018
Heavy Construction Equipment Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2027. Heavy Construction Equipment Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2027
Global Heavy Construction Equipment Market, By Types (Earthmoving Equipment, Material Handling Equipment), by applications (Mining & Excavation, Earthmoving, Transportation), end users (Oil & Gas Industry, Construction Industry, Military, Mining) – Forecast to 2027
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Used extensively to manage labor costs and time, heavy construction equipment has proven to be a vital part of any construction project. The demand and investment in heavy construction equipment have risen significantly in the past few years, and current market scenario indicates further growth during the forecast period of 2017 to 2023.
Market Research Future has published a report which records the in-depth analysis of factors influencing growth. The report also offers insights into market trends and threats. The rapid growth of infrastructure in both residential and commercial sectors is a key factor influencing growth. This is primarily due to the growing global population, technological advancements in infrastructure, and ongoing migration worldwide.
Increasing government initiatives toward the improvement of infrastructure in emerging economies are projected to fuel market growth. The ongoing advancements in heavy construction equipment have witnessed the development of smart, efficient and internet-enabled machinery that lowers operating costs is predicted to propel growth during the forecast period. Emerging economies across the globe are predicted to be the key drivers of market growth.
With an aim to provide a comprehensive view of the market and the factors that influence it, the global heavy construction equipment market has been segmented by types, applications, and end users.
Based on types, the market has been segmented into earth moving equipment, material handling equipment, heavy construction vehicles, and others.
Based on applications, the market has been segmented into mining & excavations, earthmoving, transportation, lifting, material handling, and others
Based on end users, the market has been segmented into Oil & Gas Industry, Construction Industry, Military, Mining, Agriculture & Forestry, and others.
The global market for heavy construction equipment has been further analyzed by region which includes, the Americas, Europe, the Asia Pacific and the Middle East and Africa.
Presently, the Asia Pacific leads the market with larger than 50% global market share. Countries such as India and China, which have rapidly emerging economic conditions, are witnessing a growing requirement for updated and new infrastructure both in residential and commercial sectors. Increased government investment in infrastructural development and the increasing foreign investment in the commercial sector of emerging economies in this region are some key factors that are expected to keep this region in the lead. The presence of eminent market players further boosts the regions market growth.
North America and Europe follow closely behind the Asia Pacific and are expected to maintain second and third position respectively with regards to market share. The strong adoption of smart technology and the pervasive need for modern infrastructure are projected to motivate growth in these regions.
Meanwhile, the Middle East and Africa are expected to experience limited growth with the majority of growth being driven by the Middle East. Many African countries have underdeveloped economies where demand for modern infrastructure is not a priority. On the other hand, in the Middle East, countries such as U.A.E and Qatar have made considerable investments in infrastructure.
MRFR’s report includes an analysis of key market players to provide an understanding of leading market strategies. Prominent players included in the report are Caterpillar, Komatsu Ltd., Doosan Infracore Ltd., CNH Global NV, Hyundai Heavy Industries Ltd., John Deere & Co., JCB, and Kobelco Construction Machinery Co. Ltd.
Latest Industry News
India has started the construction of a 109 km road. The project connects Paletwa river terminal to Zorinpui on the Mizoram border in Myanmar. The USD 237 million project, which has experienced a seven-month delay, is expected to reach completion in 2019.
JCB India has reported increased revenue from INR 5,550 crore in 2014 to INR 8100 crore in 2017. The increase is attributable to the Indian government’s focus on nation-wide infrastructure and the company’s growing focus on export. JCB India exports to 93 countries and plans to expand further in the region.
The report for Global Heavy Construction Equipment Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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