The report provides information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
Portland, OR -- (SBWIRE) -- 02/27/2018 -- Construction Equipment Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $288.8 billion by 2022, registering a CAGR of 9.2% during the forecast period 2016-2022. Asia-Pacific is the largest market for construction equipment on account of substantial investments by the government in the manufacturing and infrastructure sector, followed by North America.
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The construction equipment, commonly known as heavy equipment are machinery having applications in excavation and mining, lifting and material handling, earthmoving, transportation and other areas. In developing economies such as Asia-Pacific, rapid urbanization and industrialization would propel the demand for construction equipment in coming years. Increasing number of infrastructure projects in Asia-Pacific and LAMEA is expected to boost the construction equipment market in the near future. North America is also expected to grow at a notable pace on account of an upswing in residential construction activities.
Key findings of Construction Equipment Market:
- In 2015, APAC was the largest revenue generating region, followed by North America.
- Public works and rail road industry would account for around 45% of the global construction equipment market revenue by 2022.
- Loaders was the largest revenue generating segment in 2015.
- Lifting & material handling application is anticipated to be the fastest growing segment during 2016-2022.
Key market players profiled in the report are AB Volvo, Caterpillar Inc., Komatsu Ltd., Doosan Heavy Industries & Construction Co. Ltd., Hitachi Construction Machinery Co. Ltd., J.C. Bamford Excavators Limited, Kobe Steel Ltd., Liebherr Group, Atlas Copco AB, and CNH Industrial N.V
CONSTRUCTION EQUIPMENT MARKET SEGMENTS:
By Solution
- Product
- Service
o Rental
o Maintenance
By Type
- Loaders
- Cranes
- Forklifts
- Excavators
- Dozers
- Others
By Application
- Excavation & Mining
- Lifting & Material Handling
- Earthmoving
- Transportation
- Others
By Industry
- Oil & Gas
- Public Works & Rail Road
- Forestry & Agricultural
- Manufacturing
- Military
- Mining
By Geography
- North America
- Europe
- Asia-Pacific
- LAMEA