ASEAN Construction Machinery Market Competitive Insights and Precise Outlook 2021- Kobelco Construction Machinery Co., Ltd., Hitachi Construction Machinery Co., Sumitomo Construction Machinery

ASEAN Construction Machinery Market - Growth. Trends And Forecasts (2020-2025)

The report presents an in-depth assessment of the ASEAN Construction Machinery including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for ASEAN Construction Machinery investments from 2020 till 2025.

The ASEAN construction machinery market is expected to register a CAGR of more than 7%, during the forecast period, (2020 - 2025).

The ASEAN Construction Machinery market is highly competitive and consists of a number of major players: Kobelco Construction Machinery Co., Ltd., Hitachi Construction Machinery Co., Sumitomo Construction Machinery, CNH Industrial, Caterpillar Inc., Liebherr Group, Mitsubishi Corporation, JCB

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Scope of the Report                       

The infrastructure investments in the region accounted for 12% of the total FDI received with the majority of investments into transportation and real estate sectors. It is expected that, over the next five years, the ASEAN region has an infrastructure project pipeline worth USD 250 billion. The rise in construction activities is expected to boost the demand for construction machinery over the forecast period.

Key Market Trends

Rising Road Construction Projects

Over the past few years, the road construction equipment market has witnessed significant growth, mainly due to increased road development programs initiated by the governments across the region.

Due to cheap labor costs and lower taxes, various multinational corporations are establishing their manufacturing units in the ASEAN region. However, lack of road infrastructure connecting major ports to manufacturing locations often restrains the economic growth of the region. Thus, to provide easy accessibility to ports and other areas, the governments across the ASEAN region are investing heavily in the construction of roads. For instance, the Philippines is planning to boost infrastructure development by investing USD 144 billion under a six-year plan which includes major road construction projects, airport construction projects, and railway projects amongst others. Thus, creating a demand for construction equipment in the future.

With the rise in road construction activities, the demand for construction machinery had been increasing, which is being supported by importing these machines. Exports of heavy machinery from Singapore to the rest of the ASEAN region has grown steadily over the years, which is supported by the key drivers, led by the increasing investment in construction projects in the ASEAN region. Two examples of high growth opportunities in ASEAN are the Philippines and Thailand, among others. Singapore exports of heavy machinery to Thailand has the second fastest growth in the region.

Thus, various initiatives taken by governments in ASEAN region to boost infrastructure projects and an increase in government involvement in planning, coordinating, and financing projects, is expected to drive the growth of the market during the forecast period.

Increasing Demand for Construction Machinery in Vietnam

In the last few years construction activities in Vietnam had seen a high growth rate. In 2007, the revenue from the construction sector in the country was USD 1.2 billion, and by 2019, the revenue increased up to 10.5 billion. Moreover, with an increase in the governments investment in both commercial and residential sectors, the construction sector saw huge growth.

The Vietnamese government under an eight Five year Socio-Economic Development plan (2016-2020) had also increased housing area per capita from 16.7 m2 in 2016 to 23.2 m2 by the end of 2019 and is further going increase by 25m2 by the end of 2020.

Ongoing and future construction projects in the country include Thu Thiem Smart City Metro lines development (USD 800 million), Long Thanh International Airport (USD 16 billion), and expansion at the Tan Son Nhat International Airport.

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: ASEAN Construction Machinery Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs

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