Construction Equipment Market will become huge in coming years with size of USD 200 billion
Construction equipment is a critical tool for all construction projects. They are used at construction sites for reducing time and labor cost. The market is expected to continue with the moderate growth trend during the forecast period. There have been few factors driving the market such as increased demand from BRIC countries supporting the growth for construction equipment, construction development in Russia as it hosts 2018 FIFA world cup, and high demand from Brazil.
Huge investments in infrastructural projects in BRIC countries have spurred the demand for heavy construction equipment for commercial and residential purpose. Asia-Pacific region has given a tough competition to well established European and U.S. markets when it comes to heavy machinery.
With the confirmation of 2018 FIFA World Cup in Russia, huge investment is being done on the infrastructural projects throughout different cities of Russia including St. Petersburg, Moscow and Sochi. Lots of investment is also being done for improving transport facilities. Around USD 4.2 billion is expected to be invested for development of communications, energy supply, transport, safety infrastructure, and utilities before the event. Furthermore, around USD 3.9 billion is expected to be spent on renovation of sport facilities.
The construction sector in Brazil has witnessed a good growth with the development in Brazilian economy. Infrastructural projects in the region have been steadily rising. Consequently, there is a high demand for construction equipment, which is attracting big market players to enter the region for business expansion. Recently, Hyundai Heavy Industries opened its first construction equipment factory in Brazil.
Request a sample @ www.marketresearchfuture.com/sample_request/1963
AB Volvo (Sweden), Caterpillar Inc. (U.S.), Komatsu Ltd. (Japan), Doosan Heavy Industries & Construction Co. Ltd. (South Korea), Hitachi Construction Machinery Co. Ltd. (Japan), J.C. Bamford Excavators Limited (U.K.), Kobe Steel Ltd. (Japan), Liebherr Group (Switzerland), Atlas Copco AB (Sweden), and Hyundai Heavy Industries Co., Ltd. (South Korea) are some of the prominent players at the forefront of competition in the global Construction Equipment market and are profiled in MRFR Analysis.
Global Construction Equipment Market - Competitive Analysis
Construction equipment manufacturers have been more focused on launching new products in the market due to technical advancement, increasing demand for heavy equipment, and to have a competitive advantage. North American heavy equipment manufacturers introduced many new products in the market especially in the Asia-Pacific region due to high growth in construction activities in those regions. In order to strengthen their market position outside Asia-Pacific, many Asia-Pacific companies focused on growing in Europe and North America through Mergers & Acquisitions, and by signing various agreements for technical collaborations.
European companies were more focused on strengthening their current markets and expanding into the South American and Asia-Pacific markets. Companies such as Caterpillar (U.S.), Manitowoc (U.S.), and John Deere (U.S.) have been the most active North American companies. XCMG (China), Hyundai Heavy Industries (South Korea), Doosan Infracore (South Korea) in Asia-Pacific and Liebherr (Switzerland), Volvo (Sweden) in Europe have been the most active companies in Europe.
With the emergence of new technologies, the original equipment manufacturers have been launching sophisticated products and machinery. For instance, Komatsu began the launch of its Intelligent Hydraulic Excavator. It has begun in Europe and Japan and is expected to be followed by United States. The idea is to tap the regions which lead the ICT-based construction. Also, Komatsu has acquired 100% ownership of Joy Global Inc. (U.S.). The process got closed in the mid of 2017. This acquisition is expected to strengthen the core equipment business to achieve company’s sustainable growth.
Caterpillar (U.S.) introduced its Cat utility vehicles – the gasoline-powered Cat CUV82 and diesel-powered CUV102D. The company gathered extensive customer and dealer input to build a UTV that delivers the combination of durability, comfort and maintenance simplicity. Features such as easy acceleration, clear sightlines and engine braking capability make the Cat UTV well suited for hauling and towing.
Browse report @ www.marketresearchfuture.com/reports/construction-equipme...
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
+1 646 845 9312
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Construction Equipment Market will become huge in coming years with size of USD 200 billion here
News-ID: 893951 • Views: 375
More Releases from Market Research (MRFR) Future Reports
Licensed Sports Merchandise Market Size, Trends, Revenue Growth, Forecast 2023: …
Implementation of effective sports marketing helps in achieving financial success of sports clubs and organizations. Major market players are focusing on analyzing the purchasing behavior of the sports fans across the globe and strategizing product launches accordingly. Events such as FIFA World Cup and National Football League (NFL) are expected to create an attraction among sports lovers which in turn will boost the inclination towards purchasing licensed sports merchandise market
Armored Vehicle Market Size | Global Industry Share and Trends Report 2019-2023
Infantry Fighting Vehicle (IFV) Market: Information by Type (Wheeled and Tracked), by Configuration (Amphibious and Non-Amphibious), by Application (Combat, Armored Reconnaissance, and Ambulance & Others), and by Region — Global Forecast till 2023 Market Highlights: The global infantry fighting vehicle market has been segmented based on type, configuration, application and region. Based on type, the infantry fighting vehicle market is divided into wheeled and tracked. The tracked segment accounted for the largest market
Digital Therapeutics Market Grooming Rapidly by Rising Trends, Technological Adv …
Digital Therapeutics Market Grow with collaborations between digital therapeutics and pharma companies is motivating the market’s development. Market reports associated with the healthcare industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is anticipated to develop at a rapid CAGR in the forecast period. As the market is in its initial stages of growth, there is
Global Healthcare Chatbots Market Growing Opportunity, Technology and Trend Anal …
Global Healthcare Chatbots Market is set to witness healthy growth in the forthcoming years. The integration of Artificial Intelligence (AI) in the healthcare sector has paved the way for the adoption of chatbots. Additionally, healthcare chatbots are poised to handle complex tasks such as personal monitoring, appointment booking, etc. in an efficient manner and maximize the productivity of the organization. This, in turn, is expected to propel the expansion of
More Releases for Construction
Global Construction Chemicals Market
The driving factor for the Construction Chemicals Market are due to Rising strong demand for construction chemicals, including concrete and cement admixtures, waterproofing chemicals, rise in growth of emerging economies and governments are investing heavily in infrastructure and housing development will be factor of growth in construction chemical market. Lack of awareness and high investment in the product will be the restrains for Construction Chemicals Market. Global Construction Chemicals Market Global Construction
Dam Monitoring During Construction
Intelligent Geo Data Logger Reads Vibrating Wire Sensors A hydroelectric dam under construction in Serbia required monitoring of several environmental and structural properties to guarantee long-term strength and stability. Therefore the dam’s construction engineers put forth a proposal for a large number of geotechnical sensors to be installed and used during construction. These sensors included vibrating wire piezometers, joint meters, fill extensometers, and strain gages. Each sensor needed to interface with
Commercial Construction in Indonesia
Commercial Construction in Indonesia Overview "Commercial Construction Market in Indonesia: Market Size, Growth and Forecast Analytics to 2021" contains historic and forecast market data for the commercial construction market in Indonesia, with a detailed breakdown of the data by construction activity (new construction, repair and maintenance, refurbishment and demolition) and by cost type( construction materials, construction equipment and construction services). This report also contains overall values of the commercial construction segments such as
Global Construction Outlook 2022
The Construction Intelligence Center (CIC) has revised upwards its forecast for growth in the global construction industry. In line with improved performance in some major markets and a brighter outlook for the global economy, the CIC now expects the pace of expansion in the global construction industry to average 3.7% a year over the forecast period (2018-2022), compared with 3.6% in the December 2017 forecast update. In real value terms
Building Openings Construction Manual
Every architect has to reflect on building openings, since every house has windows and doors. They are the interface between indoor and outdoor spaces, essential functional and design elements of facades which provide light, ventilation and climate control. What sounds so simple has become a highly complex matter in times of energy planning. DETAIL is now publishing a comprehensive standard and reference work on the subject: the Building Openings Construction
Airhart Construction Grand Opens
Airhart Construction is preparing to unveil a new fully furnished Farmington model on Saturday, October 22 at Fisher Farm, its low-maintenance community of 71 semi-custom single-family homes in Winfield. The debut of the new model—featuring Airhart Construction’s most in-demand floorplan—is good news for buyers who desire a customizable design, open layout, and plentiful standard amenities, said Christy Whelan, director of sales for Airhart Construction. “Even more exciting news is,” Whelan added, “is