Technavio, a tech-focused market research firm, has published a new report on the global paving and concreting equipment market, which is expected to grow at a CAGR of close to 12% during the forecast period, 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global paving and concreting equipment market into the following key regions: The Americas, APAC, and EMEA.
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Top three contributors for the global paving and concreting equipment market are elaborated below
Paving and concreting equipment market in APAC: The market for paving and concreting equipment in APAC is flourishing owing to the region’s high population density and rapid urbanization. China and India are the major countries in terms of infrastructural activities. Increased investment in infrastructure development across APAC during the forecast period is anticipated to propel the demand for paving and concreting equipment in the region.
According to Sunil Kumar Singh, a lead analyst at Technavio, specializing in research on embedded systems, “In 2015, the government of India invested more than USD 11 billion towards infrastructure development. Schemes such as viability gap funding provide financial support to PPPs for infrastructure development in the country.”
Paving and concreting equipment market in EMEA: The market for paving and concreting equipment in this region is driven by ongoing as well as upcoming large infrastructure projects in the Middle East. Furthermore, construction sectors of some European countries such as Germany are growing because of the rise in spending on building and renovating homes.
Paving and concreting equipment market in the Americas: The paving and concreting equipment market is likely to be driven by the increase in residential construction projects, healthcare facilities, hotel projects, and commercial building projects. The Build America Investment Initiative, which focuses on the development of infrastructure such as ports, roads, bridges, and water systems by promoting the PPP model, will also propel the growth of the construction sector. Such developments are anticipated to facilitate the growth of the market in this region during the forecast period.
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The leading vendors operating in the global paving and concreting equipment market are:
- Caterpillar
- Volvo Construction Equipment
- Atlas Copco
- BOMAG
- Leibherr Construction Machines
A more detailed analysis is available in the Technavio report titled, ‘Global Paving and Concreting Equipment Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Concrete and Cement Market 2016-2020
- Global Construction Chemicals Market 2016-2020
- Global Construction Paints and Coatings Market 2016-2020
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