The
global earthmoving equipment
market is expected to reach USD 184.56 billion by 2022, according to a
new study by Grand View Research, Inc. Technological advancements such as
facilitation of real-time monitoring for detecting and monitoring equipment
failure are anticipated to fuel product demand.
Vendors are increasingly investing in R&D to develop
solutions in order to improve machine operations. Technology products such as
AccuGrade Grade Control System and Computer Aided Earthmoving System (CAES) are
increasingly being incorporated. Manufacturers also offer products with GPS
technology and other electronic control modules and database tools for
enhancing product offering.
Increasing mechanization of construction processes coupled with
strong economic growth in Asia Pacific earthmoving machinery market is
anticipated to boost consumption in the region. Rising expenditure on
infrastructure activities is also expected to escalate demand significantly
over the coming years.
View
summary of this report @
http://www.grandviewresearch.com/industry-analysis/earthmoving-equipment-market
http://www.grandviewresearch.com/industry-analysis/earthmoving-equipment-market
China earthmoving equipment market by product, 2012 – 2022 (USD Billion)
Further
key findings from the study suggest:
·
Loaders segment accounted for over 45% of the overall
consumption in 2014 and is expected to shrink over the next seven years. Demand
balancing is anticipated to take some time as the industry is expected to
continue to be serviced with large number of existing units.
·
Excavators market was valued over USD 30 billion in 2014 and is
expected to exhibit high growth over the forecast period. Escalating demand
across broad residential applications such as public and private infrastructure
development would drive demand extensively. Rising adoption in the commercial
sector is another key factor driving industry growth.
·
Construction equipment industry is expected to reach over USD
100 billion by 2022. Strong economic growth coupled with increasing consumer
spending on infrastructure activities is anticipated to fuel product demand
over the forecast period.
·
Private construction spending accounted for over 75% of the
total construction industry spending in 2014. Increasing government investment
in infrastructure development particularly in developing nations of Asia
Pacific is expected to spur demand. Growing urbanization paired with increasing
demand from corporate sector for infrastructure development may also drive
industry growth.
·
Asia Pacific earthmoving equipment market accounted for over 50%
of the industry share in 2014 and is estimated to exhibit high growth prospects
over the next seven years. Emergence of lease-based machinery along with
private investment in real estate is further expected to propel demand.
·
Middle East earthmoving equipment market is expected to grow at
a CAGR of over 9.5% from 2015 to 2022. Growing large scale construction
projects especially in the Middle East countries is expected to increase demand
for these products over the next few years. Technological advancements and
improvement in the quality and after-market services offered by vendors is also
anticipated to drive industry growth.
·
Key competitors dominating the earthmoving equipment industry
include Doosan Infracore Ltd., Caterpillar, Komatsu Ltd., Sany Heavy Industries
Co. Ltd and Liebherr. Industry participants emphasize on offering low cost
products over energy-efficient products, particularly in price sensitive
markets. Manufacturers also focus on lowering production cost and meet emission
regulations set by the various regulatory bodies. Chinese manufacturers are increasing
their international presence in the wheel loaders industry, competing with
enormous array of manufactures in this segment.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/hvac-and-construction-technologies
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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