Heavy Construction Equipment Market

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Heavy Construction Equipment Market (Type - Earthmoving, Material Handling, Heavy Construction Vehicles, and Others; Application - Excavation and Demolition, Heavy Lifting, Transportation, Material Handling, Tunneling and Recycling, and Waste Management; End User - Construction and Infrastructure, Manufacturing, Public Work and Railroad, Oil and Gas, Mining, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : August, 2020

  • Rep Id : IA0098

  • Category : Industry Automation

  • Status : Published

A recent report published by Infinium Global Research on heavy construction equipment market provides in-depth analysis of segments and sub-segments in the global as well as regional heavy construction equipment market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional heavy construction equipment market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global heavy construction equipment market. According to the report, the global heavy construction equipment market is projected to grow at a CAGR of 6.5% over the forecast period of 2020-2026.

 

Market Insight

Construction is one of the major sectors in economic growth and offers a great and valuable contribution to infrastructure development. Heavy equipment such as heavy duty-machinery is especially considered for performing construction works. Heavy construction equipment is used for various purposes in large projects such as lifting, material handling, excavation, and others, and the Selection of different types of heavy equipment depends on the scope of the work and economy of the project. These types of equipment help to make the construction process easier and faster. However, the current concerns over the spread of coronavirus are expected to have a major impact on the growth of the heavy construction equipment market as the demand for the equipment directly relies on construction and infrastructure development.

 

Industrial Equipment companies are dealing with the immediate impact of COVID-19 as both their manufacturing and supply chain operations are being disrupted, and their customers’ own operations face similar challenges. Further, COVID-19 has introduced new difficulty in managing operation owing to worker absence, restricted site access and travel limitations which in turn has affected the overall value chain and the significant drop in demand. However, surge in infrastructure development projects will increase the demand along with ensuring the safety of employee and modifying the risk of any future disruption to business will offer a steady development to the heavy construction equipment market during the post-pandemic years.

 

The increase in population and rapid growth in infrastructure and construction projects in emerging countries are the key driving factors for the heavy construction equipment market. Favorable government initiatives for infrastructure development and rising investment in public work and road construction activities are likely to escalate the demand for heavy construction equipment market growth. Further, numerous benefits offered by heavy construction equipment such as high reliability, safety, as well as flexibility contribute to the growth the market. However, high cost associated with repair and maintenance of heavy construction equipment may hamper the market growth. Furthermore, increasing demand for renting construction equipment due to which key players are also focusing on mergers and partnerships will be expected to propel the demand and offer lucrative opportunities for heavy construction equipment market in the forecast period. 

 

Among the regions, Asia Pacific holds a major share in the global heavy construction equipment market. Factors such as rapid economic development, increasing private and public vendors partnership and favorable government initiatives drive the growth of Asia Pacific heavy construction equipment market. North America is anticipated to hold the second-largest share owing to rapid industrialization and growing mining activities in the region. The heavy construction equipment market in this region is anticipated to expand at a significant growth rate during the forecast period. 

 

Segment Covered

The report on the global heavy construction equipment market covers segments such as type, application, and end user. On the basis of type, the sub-markets include earthmoving, material handling, heavy construction vehicles, and others. On the basis of application, the sub-markets include excavation and demolition, heavy lifting, transportation, material handling, tunneling and recycling, and waste management. On the basis of end user, the sub-markets include construction and infrastructure, manufacturing, public work and railroad, oil and gas, mining, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Hitachi Construction Machinery Co. Ltd., Caterpillar, Inc., Komatsu Ltd., Deere & Company, Terex Corporation, Shandong Heavy Industry Group Co. Ltd., AB Volvo, Liebherr Group, Xuzhou Construction Machinery Group Co. Ltd., and Others.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the heavy construction equipment market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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