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Construction Equipment Market Regional Trend By Top Players Volvo Construction Equipment, Liebherr Group, CNH Industrial, Caterpillar Inc., Terex Corporation, SANY Group.

05-31-2019 12:48 PM CET | Industry, Real Estate & Construction

Press release from: Global Market Insights, Inc.,

Construction Equipment Market

Construction Equipment Market

The Asia Pacific construction equipment (machinery) market will witness a strong growth owing to the growing government focus toward the construction sector. Initiatives, such as Make in India and Made in China 2025, supporting the infrastructure sector will favor the industry growth.

Construction Equipment (Machinery) Market is anticipated to exceed USD 170 billion by 2024. The globally flourishing construction sector is surging the demand for high-performance machinery that aids in reducing human involvement in the construction process.

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Initiation of projects, such as South-North Water Transfer Project in China, will propel the industry demand in the region. The development of smart city projects in Singapore will surge the demand for high-performance machinery.

The rapid growth in the number of construction activities is exerting pressure on the existing human resources. The demand for sophisticated construction equipment(machinery) that reduces the overall capital investment will contribute to the construction equipment (machinery) market growth.

Construction Equipment (Machinery) Market, By Product

• Earthmoving & Road Building Equipment

• Backhoes
• Excavators
• Loaders
• Compaction Equipment
• Others

• Material Handling & Cranes

• Storage & Handling Equipment
• Engineered Systems
• Industrial Trucks
• Bulk Material Handling Equipment

• Concrete Equipment (machinery)
• Concrete Pumps
• Crushers
• Transit Mixers
• Asphalt Pavers
• Batching Plants

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The demand for automated storage and material handling equipment in warehouses will drive the construction equipment market (machinery) growth. Furthermore, the rise in the number of tall buildings and skyscrapers across various regions will surge the demand for cranes over the forecast timespan.

For instance, in August 2017, Hapman, a material handling equipment manufacturer, announced an initiative with Dattus, an IIoT platform, to offer enhanced solutions to its customers. Industrial trucks that are sturdy enough to enable the smooth transfer of heavy materials will propel the construction equipment market (machinery) growth.

The high initial and maintenance costs of the machinery discouraging the adoption of the equipment for small-scale construction projects will hinder the construction equipment market growth. Construction projects with limited monetary resources are still preferring traditional manual construction techniques over modern machinery. Equipment incorporated with the latest technologies, such as GPS and IoT, is further increasing the overall equipment cost, thereby restricting the construction equipment market growth.

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The major players operating in the construction equipment market include Volvo Construction Equipment - Volvo CE, CNH Industrial N.V., Caterpillar, Inc., Komatsu Ltd., Hitachi Construction Machinery Co., Ltd., Zoomlion Heavy Industry Science & Technology Co., Ltd., Kobelco Construction Machinery Co., Ltd., Terex Corporation, Liebherr, and Sany Group. The industry is characterized by new product launches and expansion of product portfolio to enhance its market presence. Competitive pressure in the industry is compelling the industry participants to invest in new technologies, which will favor the construction equipment market growth.

Partial Chapter of the Table of Content

Chapter 2. Executive Summary

2.1. Construction equipment industry 360º synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Product trends

Chapter 3. Industry Insights

3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.2.1. Global construction equipment rental landscape
3.2.1.1. North America Construction Equipment Market
3.2.1.2. Europe Construction Equipment Market
3.2.1.3. Asia Pacific
3.2.1.4. Latin America
3.2.1.5. MEA
3.2.2. Global used construction equipment landscape
3.2.2.1. North America
3.2.2.2. Europe
3.2.2.3. Asia Pacific
3.2.2.4. Latin America
3.2.2.5. MEA
3.3. Industry ecosystem analysis
3.3.1. Pros and cons – rent vs purchase of construction equipment
3.3.2. Cost calculator – rent vs purchase of construction equipment
3.3.3. Technology providers
3.3.4. Vendor matrix
3.4. Technology & innovation landscape
3.5. Regulatory landscape
3.5.1. ISO standards
3.5.1.1. ISO 4310
3.5.1.2. ISO 8686
3.5.1.3. ISO 10245-1:2008
3.5.1.4. ISO 12480-1
3.5.1.5. ISO 23815-1
3.5.1.6. ISO 12482
3.5.1.7. ISO 23814
3.5.1.8. ISO 19432:2012
3.5.2. North America
3.5.3. Europe
3.5.4. Asia Pacific
3.5.5. Latin America
3.5.6. MEA
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.1.1. Implementation of advanced technologies in construction equipment

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3.6.1.2. Increasing infrastructure investments globally
3.6.1.3. Growing construction industry in China & India
3.6.1.4. Rising equipment rental demand in North America & Europe
3.6.1.5. Increasing rate of urbanization in the North America & Europe
3.6.1.6. Increasing infrastructure and industrial projects in Russia
3.6.1.7. Growing urbanization and safety concerns in India
3.6.1.8. Growing reconstruction and maintenance activities in Japan
3.6.1.9. Rapid infrastructure development in BRIC countries
3.6.1.10. Recovering construction sector in Latin America
3.6.1.11. Increasing investment in mining projects across Latin America & MEA
3.6.1.12. Rising number of public private partnership projects in MEA
3.6.2. Industry pitfalls & challenges
3.6.2.1. Cyclic instability of application industries
3.6.2.2. Lack of skilled and qualified operators
3.6.2.3. High initial cost
3.6.2.4. Fluctuation in oil prices
3.6.2.5. Cost associated with maintenance
3.7. Major infrastructure project statistics, by region
3.7.1. North America
3.7.2. Europe
3.7.3. Asia Pacific
3.7.4. Latin America
3.7.5. MEA
3.8. Growth potential analysis
3.9. Porter's analysis
3.10. Competitive market share analysis, 2017
3.10.1. North America
3.10.1.1. U.S.
3.10.1.2. Canada
3.10.2. Europe
3.10.2.1. UK
3.10.2.2. Germany
3.10.2.3. France
3.10.2.4. Italy
3.10.2.5. Russia
3.10.3. Asia Pacific
3.10.3.1. China
3.10.3.2. India
3.10.3.3. Japan
3.10.3.4. South Korea
3.10.4. Latin America
3.10.4.1. Brazil
3.10.4.2. Mexico

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com/

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