Heavy Construction Equipment Market - 2028: Competitor Analysis, Winning Strategies and Growth Drivers

A comprehensive study conducted by QMI provides a better understanding of the current market size, landscape, and development, status, and growth opportunities for the Heavy Construction Equipment market. The report contains extensive market evaluation, historical data, and projections with a suitable set of assumptions and methodologies. The research report includes analysis and information about categories such as market segments, countries, product types and distribution channels. The data covered in this report will play an important role in introducing new products as well as existing ones. It provides readers with all the information they need to know about the global Heavy Construction Equipment market competition. To consider domestic and global competition it explores the competitive landscape of the industry.

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What is Heavy Construction Equipment?

Heavy construction equipment is a tool used in construction activities such as mining lifting, handling, and excavation of materials. The demand for heavy construction equipment is driven mainly by residential, commercial and industrial expansion, increasing public-private collaboration and global economic growth. There are different types of heavy construction equipment available on the market. However, it is important to choose the right type of construction equipment. While selecting heavy construction equipment, industries concentrate on criteria such as project complexity, material, quality, price, time and safety.

The market for heavy construction equipment is projected to offer high growth due to the increasing demand for construction equipment in recent years. Increasing demand from end-use industries, including construction, public works, and mining is expected to drive the market growth for heavy construction equipment. This market has witnessed several key developments by major companies including Volvo Construction Equipment AB, Caterpillar Inc., Doosan Infracoe, Komatsu, Hitachi Machinery Construction, JCB, and Sany with focus on various growth strategies like organic as well as inorganic. Developing regions like the Asia Pacific and the Middle East were among the high-potential, high-growth markets in some key countries.

The demand for construction projects is also growing as a result of the rapid rise in the economy. In addition, the heavy construction equipment market is driven by increasing public-private sector collaborations for building construction, real estate ventures, public infrastructure, etc. The Asia Pacific is expected to account for the largest share of the market for heavy construction equipment. This market is expected to see a growing demand for heavy construction equipment in Saudi Arabia, the UAE, and the US.

Key Factors Impacting Market Growth:
o Rapid urbanization to drive market growth
o Rising demand for construction equipment

North America and Western Europe have been dominating markets for mining equipment due to their strong presence in the industrial sector. In those countries, the industrial sector was one of the key contributors to their economies. The building, public works, mining, are expected to be major industries in these areas. Such industries have an established base which results in stable demand in the market.

In recent years the Asia Pacific region and the Middle East market have seen steady growth in the industrial sector. Major companies operating in this sector have developed strategies to boost their market presence in these regions. Moreover, some of the fastest-growing economies, including China and India, were major markets for various end-use industries, including housing, public works, and mining. Such industries are expected to record high demand over the forecast period for the heavy construction equipment market.

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Significant Development:
o In June 2014, Volvo Construction Equipment acquired Terex Corporation's (U.S.) freight forwarding company for USD 160 million on a debt-free basis. This deal included the acquisition of the Motherwell, Scotland production facility which provides articulated and rigid haulers.
o In August 2014, CNH Industrial N.V. invested USD 24 million to increase its business in Burlington, Iowa (U.S). the company has also added a new line of crawler dozer products to its new Iowa manufacturing facility.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Hitachi Machinery Construction
2. Caterpillar Inc.
3. Doosan Infracoe
4. Volvo Construction Equipment AB
5. Komatsu
6. JCB
7. and Sany

Market Segmentation:
By Type:
o Earthmoving
o Material Handling
o Heavy Construction Vehicles
By End-Use Industry:
o Construction
o Public Works
o Mining
By Region:
o North America
o By Country (US, Canada, Mexico)
o By Type
o By End-Use Industry
o Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Type
o By End-Use Industry
o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type
o By End-Use Industry
o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Type
o By End-Use Industry
o Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Type
o By End-Use Industry
o Rest of the World
o By Region (South America, Africa)
o By Type
o By End-Use Industry

Reasons To Buy This Report:
o Market size estimation of the heavy construction equipment market on a regional and global basis.
o The unique research design for market size estimation and forecast.
o Profiling of major companies operating in the market with key developments.
o Broad scope to cover all possible segments helping every stakeholder in the market.

Contact:

Quince Market Insights
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Office No- A109
Pune, Maharashtra 411028
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Email: sales@quincemarketinsights.com
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This release was published on openPR.