This market research report by Technavio segments the construction equipment market in the APAC region by type and includes segments like road and concrete equipment, material handling equipment, and earthmoving equipment. Leading vendors analyzed in this market research are Caterpillar, Hitachi Construction Machinery, Sany, Volvo Construction, and Zoomlion.
Technavio’s market research analysts estimate the construction equipment market in APAC region to grow at a CAGR of 17% between 2015 and 2019. Rapid urbanization in APAC has resulted in the development of infrastructure projects such as highways, railroads, and ports, thereby propelling the demand for construction equipment. Construction equipment includes machines that are used to perform various tasks on the construction site such as hoisting, excavating, hauling, paving, grading, and drilling.
The new market research report from Technavio provides a breakdown and analysis of the construction equipment segments by technology.
“Construction companies are increasingly using energy-efficient and user-friendly construction equipment, to receive energy-efficient certificates. The manufacturers are developing energy-efficient tractors, bulldozers, and skid-steer loaders. For instance, Liebherr’s new generation 6 PR 736 dozer is designed for reduced fuel consumption and carbon dioxide emissions,” says Soumya Mutsuddi, Lead Analyst, Heavy Industry, Technavio Research.
Technavio’s market research analyst estimates the road and concrete equipment segment to show the highest market growth rate during the forecast period. Increasing government investments in road and railway projects is a critical factor that augments growth in this segment and results in its impressive market growth rate of more than 23% by 2019.
The key players in the construction equipment market in APAC region include Caterpillar, Hitachi Construction Machinery, Sany, Volvo Construction, and Zoomlion. This market is characterized by the presence of a competitive business environment and consists of well-diversified international, regional, and local vendors. The regional and local vendors offer customized construction equipment at cost-effective prices, whereas the large vendors offer equipment that are high quality and feature rich.
A more detailed analysis is available in the Technavio report, Construction Equipment Market in APAC Region 2015-2019.
We can customize reports by other regions and specific segments upon request.
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