Market Research Future published a research report on “Global Heavy Construction Equipment Market Research Report- Forecast 2021” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2021.
Pune, India -- (SBWIRE) -- 12/07/2017 -- Global Heavy Construction Equipment Market, By Types (Earthmoving Equipment, Material Handling Equipment), by applications (Mining & Excavation, Earthmoving, Transportation), end users (Oil & Gas Industry, Construction Industry, Military, Mining) - Forecast to 2027
Heavy Construction Equipment Global Market – Overview
Heavy Construction Equipment Market has gained a huge traction around the globe primarily owing to the increasing Construction industry. According to a recent study report published by the Market Research Future, The global market of Heavy Construction Products is projected to grow at a rapid pace during the forecast period (2017 – 2027). The Market is forecasted to demonstrate an aggrandized growth by 2027, surpassing its previous growth records; with a striking CAGR during forecast period 2017-2027.
The innovation of heavy Construction equipment has assured a promising fortune for construction industry. Since last decade, the construction firms have grown enormously after heavy construction equipment coming into the reality. The actual motive behind this innovation was reduced labour cost and time. The heavy construction equipment are majorly utilized in the processes of transportation, lifting earthmoving, material handling and others
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Infrastructure development across the globe is proving to be the major market propelling factor for Heavy Construction Equipment export growth and sustained demand in the global market. Building new infrastructure and maintaining existing infrastructure require large amounts of construction machinery to accomplish. Similar to infrastructure development and maintenance, residential and commercial construction activities require large amounts of Heavy construction machinery. Manufacturing, buying, or selling heavy construction equipment is a driver for the construction of commercial property. Consumers engaging in these activities are, in turn, potential buyers of new homes/residential construction. In addition, economic activity requires adequate infrastructure to move goods and services from producer to seller to buyer.
However, environmental concern poses a major threat to the Heavy construction equipment Market, as these machineries run on diesel, which releases harmful carbon emissions, Governments worldwide are imposing stringent towards carbon footprints. Additionally, cost associated with heavy construction equipment is likely to pose as a challenge to the market growth. Adversely, increasing government investments for the infrastructure development are promising good opportunities for the market growth.
Heavy construction equipment have a huge demand on global scale. Increase in the demand for own house and increase in disposable income is fuelling the market growth.
Heavy Construction Equipment Global Market – Competitive Analysis
Characterized by the presence of several major well-established players, the global Market of Diesel Generator appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. The Key players operating in the market compete based on pricing, technology, reputation and services. These manufacturers are committed to deliver reliable, leading-edge products and comprehensive after-sale support. Well established players invest heavily in the R&D to develop products with the adept technologies that are completely on a different level compared to their competition, and are of unrivalled design and features.
For example; recently the news headline that was making rounds in the news world was about one of the Major Players of the Market – Caterpillar Inc. Caterpillar launched New Cost-Saving and Extra-Safe Wheel Loader Models. These commercialized medium wheel loaders, such as 950M, 966M, and 982M, These equipment promise reduced operating costs and includes advanced technologies and safety features. Additionally, prominent players, like Caterpillar Inc., Volvo AB, and others have developed earthmoving machines that offer fuel savings and higher efficiency due to use of improved engines and control systems.
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Heavy Construction Equipment Global Market – Segmentation
Heavy Construction Equipment Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Types :
Comprises Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, and other (Cranes, Excavator, Dozer),
Segmentation By Applications:
Comprises Mining & Excavation, Earthmoving, Transportation, Lifting, Material Handling, and others.
Segmentation By End Users:
Comprises Oil & Gas Industry, Construction Industry, Military, Mining, Agriculture & Forestry, and others.
Segmentation By Regions:
Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Heavy Construction Equipment Global Market – Regional Analysis
Asia is known for the leader in the market which holds more than 50% of market share followed by the North America as second largest market and Europe region at third and it is expected that Heavy Construction Equipment market will register a substantial CAGR during the forecast period globally.
The key players in the market of heavy construction equipment are caterpillar, Doosan Infracore Ltd, Cnh Global Nv, Hyundai Heavy Industries Ltd, Hitachi Construction Machinery Co. Ltd, John Deere & Co., Jcb, Kobelco Construction Machinery Co. Ltd, John Deere & Co, Komatsu Ltd.
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