The global market for construction equipment is
expected to reach USD 208.36 billion by 2020, according to a new study by Grand
View Research, Inc. Growing number of infrastructure projects on a global scale
is expected to be the key driving force for the market over the next six years.
Increasing mining activities which require the use of construction equipment
are also expected to positively impact the industry over the forecast period.
Technological development has led to the use of
advanced machinery that offers considerable benefits over traditional
mechanical equipment. Availability of options such as leasing of construction
equipment to drive cost effectiveness is also expected to fuel market growth
over the forecast period. Safety and security issues such as mishandling of
equipment need to be handled in order to prevent heavy losses. Since heavy
construction equipment emits harmful gases such as nitrous oxide and carbon
dioxide, meeting stringent fuel emission standards set by regulatory
authorities is a challenge for industry participants.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/construction-equipment-market-analysis
Further
key findings from the study suggest:
- Earth moving machinery accounted for over 40% of the overall market in 2013, and is expected to remain the largest product segment over the forecast period. Material handling machinery includes crawler cranes, as well as truck mounted and trailer mounted cranes, and is expected to grow at the fastest rate of 5.7% from 2014 to 2020. Concrete mixers and pavers are expected to be the largest and fastest growing sub-segment of concrete and road construction equipment.
- Asia Pacific accounted for over 50% of the global market share in 2013, which can primarily be attributed to considerable revenue generation from China. Demand for equipment such as construction vehicles for infrastructure and mining activities are expected to give impetus to the regional market. RoW is expected to witness the fastest growth of 6.1% from 2014 to 2020, mainly due to construction activities in Brazil.
- Construction equipment market players include Caterpillar, John Deere, Hitachi Construction Machinery, Atlas Copco, Komatsu Ltd. And Doosan among others. Key strategies for market expansion include investment in R&D activities for product portfolio enhancement. Companies operating in the market also form strategic collaborations and long term agreements as part of their growth strategy.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/hvac-and-construction-technologies
For the purpose of this study, Grand View Research
has segmented the construction equipment market on the basis of product and
region:
Construction
Equipment Product Outlook (Revenue, USD Billion, 2012 – 2020)
•
Earth Moving Machinery
• Excavators
• Loaders
• Others
•
Material Handling Machinery
• Crawler Cranes
• Trailer Mounted Cranes
• Truck Mounted Cranes
• Others
•
Concrete & Road Construction Equipment
• Concrete Mixers & Pavers
• Construction Pumps
• Others
•
Others
Construction
Equipment Regional Outlook (Revenue, USD Billion, 2012 – 2020)
•
North America
•
Europe
•
Asia Pacific
•
China
•
RoW
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
Corporate
Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
Toll
Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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