Reliable Data You Can Trust
Reliable Data You Can Trust
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.
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.
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.
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.
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.
Please Choose One of them.