Construction Equipment Market Dominated by APAC Region

The construction equipment market is a massive market, and it will experience a significant growth in the coming years. The major reasons behind the growth of this industry are the rapid urbanization, which is generating the demand for housing and growing investments in infrastructure development across the world.

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On the basis of product, the earth moving machinery category is expected to hold the largest share in the coming years. This is majorly because such machines offer better grip on mud and snow.

Furthermore, due to the wide range of applications, these machines are very important at construction sites for grading soil, digging trenches, laying foundations, carrying out demolition and removing dirt and rocks.

Based on power output, the 101-200 HP category held the largest share in the recent past. This was mainly because the higher penetration of 101-200-HP construction equipment, as its power-to-weight ratio is suitable and it has a better fuel efficiency and decreases the cost of operations.

Moreover, such power range is more effective for the majority of projects like commercial construction, airport and road projects. Therefore, it is projected to dominate the industry also in the coming years.

The APAC region is projected to generate highest revenue in the coming years. The governments are spending more on construction activities, as development is the backbone of any country.

Furthermore, the growing urbanization in India South Korea, China and Japan are contributing to the growing demand for housing, which is helping in the growth of the regional industry.

Autonomous equipment is an emerging trend in the construction sector as it helps in increasing the safety of workers on site, understanding the problem of shortage of skilled laborers, and helps in increasing the productivity.

These machines are useful for construction, as they move on site, records terrain data, which is very useful in calculating the data. These systems are able to decide whether they should spread or fill the material, cut and carry material or it should finish grading.

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The rise in the urbanization in many countries across the globe is helping in the rise of employment opportunities. This is leading toward the shift of people from rural to urban areas, mainly in India, China and Brazil. The growing population is increasing the demand for housing, leading toward the construction of new houses, which will eventually help in the development of the construction equipment market all over the world.

It is because of the factors like rising population and rapid urbanization, the demand for construction equipment will increase all over the globe in the years to come.

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