Press release
Asia Pacific Construction Equipment Market Companies Profiles, Segments and Forecast Period
Asia Pacific Construction Equipment Market
Top Companies
Volvo Construction Equipment, Hitachi Construction Machinery Co., Ltd., Caterpillar Inc., J.C. Bamford Excavators Limited (JCB), Doosan Heavy Industries & Construction, Komatsu Ltd. among others.
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Several companies have focused on innovative product development to cater to the growing needs of the industry. Market players have adopted product launch, partnership, and acquisitions as their key strategies to enhance their product portfolio and improve their market foothold.
The latest study on the global Asia-Pacific Construction Equipment Market covers a wide range of organizations from different regions. It offers comprehensive information based on market developments, competitions, and challenges faced by the industry. With this, the report also involves the key strategies followed among the market players, major market determinants, and recent trends that help the industry to expand.
The Asia-Pacific Construction Equipment Market is segmented into type, solution type, application, industries and countries. Among the applications of construction equipment, earth moving segment contributes the maximum share in the market and is expected to dominate & drive the market during the forecast period due to increased reconstruction and mining activities. The application of earthmoving and lifting & material handling, collectively contributed more than 50% of the total market size by value in 2014.
The market is also bifurcated into solution type, product and services. The product segment primarily drives the Asia-Pacific construction equipment market. The segment includes revenue generated from the sale of equipment such as dozer, excavator, crane and loaders. By type, the Asia-Pacific market for construction equipment is dominated by loaders. This equipment is majorly used for earth moving purposes. The segment is expected to drive the market significantly by 2020, contributing more than 43.2% of the total market revenue throughout the forecast period. Apart from loaders, crane is another construction equipment that is preferred due to its numerous applications in construction, mining and public works.
Country wise, the market is dominated by China throughout the analysis period due to the increased industrial and residential construction activities in this region, whereas India market is expected to witness fastest growth.
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