Press release
Construction Equipment Market 2020 Growth Projections by Leading Players: Caterpillar Inc., CNH Industrial, Doosan, Liebherr Group, XCMG Group, Terex Corporation
Construction Equipment Market
The rise in the sales of construction equipment across European countries has been encouraging leading product manufacturers to invest in research and development activities to launch new product portfolios. In addition, many construction and earthmoving equipment manufacturers have been focusing on expanding their regional footprints with mergers and acquisitions as well as with new facility establishments. These initiatives incidentally, are also being supported by many regional finance companies, pushing the growth of the construction equipment market further.
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The Construction Equipment Market is projected to register a CAGR of 4% during the period 2018 -2024.
Over the last few years, construction equipment market, on the grounds of surging investments in infrastructural development, has been witnessing a rather appreciable growth rate. The rising trends in industrialization and urbanization across the globe have also been majorly propelling the need for construction equipment. Taking into account the rapid growth of the construction industry, construction equipment market giants have been expanding their regional reach via renewed dealerships across myriad geographies. In addition, many equipment providers have been investing in new machinery as well as advanced technologies such as smart equipment to augment construction equipment industry trends.
The changing focus of construction equipment suppliers toward establishing long-term relationships with customers and renowned OEMs is poised to boost industry growth over the years ahead. The adoption of frequent facility and dealer network expansion strategies is also deemed to emerge highly beneficial for the players in construction equipment industry.
Construction Equipment Market Growth Factors: -
o Implementation of advanced technologies in construction equipment
o Increasing infrastructure investments globally
o Growing construction industry in China & India
o Rising equipment rental demand in North America & Europe
o Increasing rate of urbanization in the North America & Europe
o Increasing infrastructure and industrial projects in Russia
o Growing urbanization and safety concerns in India
o Growing reconstruction and maintenance activities in Japan
o Rapid infrastructure development in BRIC countries
o Recovering construction sector in Latin America
o Increasing investment in mining projects across Latin America & MEA
o Rising number of public private partnership projects in MEA
Top Companies
Caterpillar Inc., CNH Industrial, Doosan Group, Guangxi LiuGong Machinery Co. Ltd., Hitachi Construction Machinery Co. Ltd., J.C. Bamford Excavators Limited, John Deere, Kobelco Construction Machinery Co. Ltd., Komatsu Ltd., Liebherr group, Metso Corporation, Palfinger AG, Sany Group, Sumitomo Heavy Industries Ltd., Tadano Ltd., Terex Corporation, The Atlas Copco Group, The Manitowoc Company, Inc., Volvo Construction Equipment, Wacker Neuson, 0MG Group, Zoomlion Heavy Industry Science & Technology Co. Ltd
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Split by product type, the market has been divided into: -
o Earthmoving & Road Building Equipment [Backhoes, Excavators, Loaders, Compaction Equipment, Others]
o Material Handling & Cranes [Storage & Handling Equipment, Engineered Systems, Industrial Trucks, Bulk Material Handling Equipment]
o Concrete Equipment [Concrete Pumps, Crushers, Transit Mixers, Asphalt Pavers, Batching Plants]
The report includes a lot of details pertaining to the production, growth rate of each segment, remuneration, price, as well as segmental market share.
The regional segmentation covers: -
o North America
o Europe
o Asia Pacific
o Latin America (LATAM)
o Middle East
What are the key highlights of this report?
o A well-detailed pricing analysis has been undertaken on the source of the product, application, as well as regional segments
o A detailed evaluation of the player matrix in tandem with the major firms that will help better understand the competitive situation in the global market
o Important insights pertaining to the regulatory scenario governing the market, in tandem with the investments poured in by numerous stakeholders in the global market
o A deep-dive evaluation of the myriad aspects pushing the overall market growth alongside their impact on the anticipation as well as dynamics of the global market
o A detailed roadmap that presents the many available growth opportunities in the global market as well as the identification of vital factors
o An intrinsic analysis of the myriad trends that prevail in the global industry which would help identify the numerous developments
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