Asia Pacific Heavy Construction Equipment Market – Overview
The Asia-Pacific Heavy Construction Equipment market size is expected to expand globally at a CAGR of 8.45%. During the historic forecast period in 2019, the global market was valued at a final figure of USD 77.7 billion. For the ongoing forecast period of 2022-2030
Heavy construction equipment has been proved as a backbone for construction industry in order to save a lot of time and labour cost. There are several equipment that serve various purpose at construction sites. Various activities including earthmoving, material handling, transporting materials, etc. are catered by heavy construction equipment.
High investments of construction industry in BRIC countries are driving the growth for heavy construction equipment market. Additionally, the need of satisfying rising infrastructure demand by growing population will enhance the growth prospects of heavy construction equipment market.
The most prominent major key players in the Asia-Pacific Heavy Construction Equipment market all across the globe are mentioned below:
- Caterpillar, Inc.
- Tadano Ltd.
- Doosan Group
- Terex Corporation
- Hitachi Construction Machinery
- Sany Group
- J.C. Bamford Excavators Limited
- Komatsu Ltd.
- John Deere
- Kobelco Construction Machinery
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Industry/ Innovation/ Related News:
The key strategies followed by most companies within the Asia Pacific Heavy Construction Equipment market are that of new product development.
On May 2017, Volvo CE has unveiled electric compact excavator prototype that delivers zero emission 10 times higher efficiency, 10 times lower noise levels and reduced total cost of ownership.
On September 2016, Hitachi Construction Machinery Develops Object Detect Assist Technology for Mining Dump Trucks that will detect the obstacle when operator are driving, stopping, or starting mining dump trucks.
In 2017, Aregger AG has partnered with Liebherr Machines Bulle S.A (Switzerland) for providing customised demolition excavator. This will widen their product portfolio.
In December, 2016 – JCB India launched seven new products at Bauma ConExpo. With the launch of these products, the company positioned itself as a full range infrastructure equipment partner. Moreover, the growing construction industry has been the major reason behind this product launch. The growing construction industry has resulted in growth of heavy construction equipment market.
Heavy Construction Equipment Market – Segmentation
The Asia Pacific Heavy Construction Equipment market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Technology: Comprises Blanking, Embossing, Flanging, Bending, Coining and Others)
Segmentation by Application: Comprises Passenger Cars, Commercial Vehicles, Recreational Vehicles and Others
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Heavy Construction Equipment Market: Regional Analysis
Asia Pacific region is expected to be the largest market in heavy construction equipment due to prospective growth in China which is followed by India, Japan, Singapore and other countries. In recent years, the demand for the construction equipment has been increasing with increasing speed as standard of living of people are increasing, disposable income are increasing, infrastructure is developing and most important people want their own house is forcing the heavy construction equipment market. Various economic factor that have led to the growth of the market are demand of heavy construction equipment. Government is taking initiative for various services like education, healthcare, public transport, infrastructure and other facilities are also helping the market to grow.
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