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Construction Equipment Market by Top Key Players 2022: 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, At

02-25-2019 10:12 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

/ PR Agency: Allied Analytics
Construction Equipment Market

Construction Equipment Market

Construction Equipment Market is expected to garner $288.8 billion by 2022, registering a CAGR of 9.2% during the forecast period 2016-2022. Construction equipment, also known as heavy equipment are specially designed machinery for performing construction operations. These equipment are used for different functions such as drilling, hauling, excavating, paving and grading. The world construction equipment market covers different industries including manufacturing, oil & gas, forestry, military and public works.

Earth moving application segment held the largest market share in 2015, on account of relatively higher demand for equipment such as loaders and excavators. Lifting & material handling application segment is anticipated to witness fastest growth, with increasing usage in commercial construction activities.

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In terms of market by product type, the loader segment accounted for the largest market share of around 45% in 2015, due to the widespread adoption of loaders in construction, mining, and public works industries. The segment is projected to remain dominant throughout the forecast period. Collectively, cranes and excavators accounted for a market share of 35% in 2015, and are expected to witness notable growth during the forecast period, owing to the increasing usage of these equipment for lifting heavy loads, material handling, mines and many other purposes.

The demand for earthmoving equipment is relatively higher in Asia-Pacific and North America on account of their usage in digging, foundation building, loading and for other purposes. Further, rising investments in energy sector and infrastructure sector is expected to drive the market for lifting and material handling equipment in Asia-Pacific. Presently, product launch strategy drives the market. Key players operating in the market have launched equipment with improved features in order to strengthen their foothold. In 2014, Caterpillar, a leading player in the market, introduced a modified loader, “Cat 424 B” with advanced features and better fuel efficiency.

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Key findings of Construction Equipment Market:
In 2015, APAC was the largest revenue generating region, followed by North America.
Public works and rail road industry would account for around 45% of the global construction equipment market revenue by 2022.
Loaders was the largest revenue generating segment in 2015.
Lifting & material handling application is anticipated to be the fastest growing segment during 2016-2022.

Key Players:

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

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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