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What's driving the Construction Equipment Market growth? Top Companies are Caterpillar, Komatsu Ltd., Volvo Construction Equipment, CNH Industrial, Terex Corporation, XCMG Group, Hitachi Construction Machinery Co., Ltd., Zoomlion, Kobelco Construction Mac

06-14-2019 06:36 AM CET | Industry, Real Estate & Construction

Press release from: marketstudyreport.com

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Construction Equipment Market

Construction Equipment Market

Market Study Report LLC has added a new report on Construction Equipment market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of Construction Equipment market in tandem with its competitive terrain.

The incorporation of sensor systems and modern technologies into the material handling equipment will surge the demand for these machines. Bulk material handling systems facilitate fast and easy transfer of large volume of goods that are difficult to manage using human resources. Industrial trucks that are sturdy enough to enable the smooth transfer of heavy materials will propel the construction equipment market growth. Storage equipment enables accurate buffering and holding of materials over a period of time. The demand for automated storage and material handling equipment in warehouses will drive the construction equipment market 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.

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The major players operating in the construction equipment market include Volvo Construction Equipment, Caterpillar, Inc., Komatsu Ltd., Hitachi Construction Machinery Co., Ltd., CNH Industrial, 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.

Infrastructure refurbishment and modernization being the most significant factors responsible for the overall development of an economy are compelling several government organizations to invest heavily in the construction sector. Increasing government investments in the construction sector will surge the demand for sturdy construction machinery. Large-scale road and rail construction projects undertaken by government organizations will further stress the demand for construction equipment market. Tight project completion schedules are throwing light on the significance of the use of the advanced construction machinery.

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

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The Asia Pacific construction equipment 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. 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 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.

Growth drivers
• Implementation of advanced technologies in construction equipment
• Increasing infrastructure investments globally
• Growing construction industry in China & India
• Rising equipment rental demand in North America & Europe
• Increasing rate of urbanization in the North America & Europe
• Increasing infrastructure and industrial projects in Russia
• Growing urbanization and safety concerns in India
• Growing reconstruction and maintenance activities in Japan
• Rapid infrastructure development in BRIC countries
• Recovering construction sector in Latin America
• Increasing investment in mining projects across Latin America & MEA
• Rising number of public private partnership projects in MEA

Table of Content:

Chapter 1. Methodology & Scope

1.1. Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope, definition and forecast parameters

1.1.4.1. Definitions

1.1.4.2. Assumptions, methodology and forecast parameters

1.2. Data Sources

1.2.1. Primary

1.2.2. Secondary

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

3.2.1.2. Europe

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

3.6.2. 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

3.10.5. MEA

3.10.5.1. Saudi Arabia

3.10.5.2. UAE

3.10.5.3. South Africa

3.10.6. Strategy dashboard

3.10.7. Investment landscape

3.11. PESTEL analysis

Chapter 4. Construction Equipment Market, By Product

4.1. Key trends in construction equipment market, by product

4.2. Earthmoving & road building equipment

4.2.1. Market estimates and forecast, 2013 - 2024

4.2.2. Market estimates and forecast, by region, 2013 – 2024

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