This market research report includes a detailed segmentation of the global construction equipment market by product type (Earthmoving equipment, Material handling equipment and Concrete and road construction equipment), by end-user (infrastructure and residential) and by geography (Americas, EMEA and APAC). The key vendors analysed in this report includes Caterpillar, Hitachi Construction Machinery, Komatsu, Terex, and Volvo Construction Equipment.
Technavio’s market research analysts estimate the global construction equipment market, which is expected to grow at a CAGR of more than 11% between 2016 and 2020. Government investments in the expansion of airports are expected to propel the demand for construction equipment during the forecast period. APAC is a dominant market in construction equipment, accounting for around 61% of the overall market share. Much of this region’s growth comes from the increased investments in infrastructure development and construction activities across the region.
The new market research report from Technavio provides a breakdown and analysis of the construction equipment segments by technology.
“Construction equipment are focusing towards energy-efficient and eco-friendly equipment to reduce their carbon footprint and improve fuel efficiency. The manufacturers are making huge investments in developing fuel-efficient equipment because of increased environmental and energy issues. For instance, CASE Construction Equipment launched 621F and 721F wheel loaders that meet the Tier 4 final emissions standards,” says Soumya Mutsuddi, Lead Analyst, Heavy Industry, Technavio Research.
Earthmoving equipment occupies around 44% of the construction equipment market, and is expected to be the dominating segment over the next four years. Earthmoving equipment includes versatile products such as excavators, bulldozers, and skid-steer loaders. Skid-steer loaders have huge preference in among small and medium-sized enterprises as they are cost-effective and can perform a wide range of tasks.
The major players dominating the global constriction equipment market are Caterpillar, Hitachi Construction Machinery, Komatsu, Terex, and Volvo Construction Equipment. Asia is the biggest revenue contributor market, as governments in the region focus on developing infrastructure. Vendors are making huge investments in designing, planning, developing, branding, expanding existing facilities, and acquiring new players in the market.
A more detailed analysis is available in the Technavio report, Global Construction Equipment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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