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
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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.
Doosan Heavy Industries & Construction Co. Ltd.
Hitachi Construction Machinery Co. Ltd.
J.C. Bamford Excavators Limited
Kobe Steel Ltd.
Atlas Copco AB
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