The global construction equipments market wasestimated at USD 134.1 billion in 2011. The major factors driving the global market include growth in lease-based equipmentsand increasing investment by governments in infrastructural activities, especially in developed countries
Albany, NY -- (SBWIRE) -- 08/01/2016 -- According to Transparency Market Research (TMR), the competitive landscape of the global construction equipment market is heavily consolidated, with the top three players - Caterpillar Inc., Komatsu Ltd., and Hitachi Construction Machinery - accounting for around 50% of the market. Caterpillar, the global leader, has made technological leadership a priority, along with strategic mergers and acquisitions to expand its overall portfolio.
The widespread regional coverage of Caterpillar Inc.'s operations means they have established firm connections with dealers and other components in the industry's supply chain, helping hassle-free operation. Other leading players in the global construction equipment market include Atlas Copco Construction & Mining, Terex, Volvo, John Deere (Deere & Company), Escorts Ltd., JCB Service, and Doosan.
Rapid Infrastructure Development in Emerging Nations Generates Demand for Construction Equipment
One of the prime driving factors for the construction equipment market is the steady development of the infrastructure in developing economies. Countries such as China, India, South Korea, Turkey, Brazil, South Africa, and Argentina are witnessing rapid urbanization due to the high availability of lucrative opportunities in urban centers. This has led to a steady demand for urban infrastructure, providing a steady source of revenue for construction equipment manufacturers.
"The rapid development of urban centers has also necessitated increased mining of metal ores, various types of fuel, and other components required to deliver topnotch infrastructure," according to TMR's lead analyst. This has also generated significant revenue for the construction equipment industry and is likely to remain an influential end user in the coming years.
Get Sample Report Copy at - http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=110
The consistent technological advancement in construction equipment has also been beneficial for the global market. Modern construction equipment features the use of automation technology and is significantly aided by computers, both of which make the construction equipment much more reliable. New construction equipment is also likely to consume less energy than conventional construction equipment, thanks to the widespread prevalence of environmental protection laws across the world.
High Costs Threaten Adoption of Construction Equipment, Leasing to Remain Popular Mode of Use
Being heavy machinery, construction equipment requires high installation costs. While this may not be an issue for large contractors, who can afford to maintain their own fleet of construction equipment, smaller players in the construction market prefer leasing construction equipment. This has emerged as a suitable compromise for the construction equipment industry and is likely to remain this way in the coming years.
Another key restraint on the construction equipment market is the conspicuous differences in import and export duties across the world. Though not a heavily influential factor, this complicates the import-export dynamics of the construction equipment market significantly.
Browse Market Research report at http://www.transparencymarketresearch.com/construction-equipment-market.html
China to Remain Dominant Market, Earth Moving Equipment Leading Product Segment
By product type, the construction equipment market is segmented into earth moving equipment, material handling equipment, and concrete and road construction equipment. Of these, earth moving equipment was the dominant product segment, with an estimated 2016 valuation of close to US$80 bn and projected 2017 valuation of US$84.6 bn.
Regionally, China emerged as the leading segment of the global construction equipment market and is likely to remain in the top spot through the forecast period. The rapid urbanization in China, coupled with the intensive infrastructure development in the underdeveloped Western provinces of China, will provide sustained demand for construction equipment manufacturers through the forecast period.
The information presented in this review is based on a Transparency Market Research report, titled, 'Construction Equipment Market - Global and China Forecast, Market Share, Size, Growth and Industry Analysis, 2011 - 2017.'
The global construction equipment market is segmented as follows:
Construction Equipment Market by Type
Earth Moving Equipment
Material Handling Equipment
Concrete and Road Construction Equipment
Agriculture Equipment Market by Type
Plowing and Cultivating Equipment
Planting and Fertilizing
Other Agricultural Equipment
Construction Equipment Market by Geography
About Transparency Market Research
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR's syndicated reports strive to provide clients to serve their overall research requirement.