Press release
Philippines Construction Equipment Market to Reach 13791 Units by 2028. Construction Industry will Boost Growth in the Market- Arizton
Subheadings: Philippines construction equipment market will reach a volume of 13791 units by 2028, growing at a compound annual growth rate (CAGR) of 7.02% during 2022-2028According to Arizton's latest research report, the Philippines construction equipment market by Transport infrastructure projects will boost the demand for construction equipment in the Philippines' heavy equipment market.
Click Here to Download the Free Sample Report https://www.arizton.com/market-reports/philippines-construction-equipment-market
KEY HIGHLIGHTS OFFERED IN THE REPORT:
• The construction equipment market in Philippines is estimated to grow at a CAGR of 7.02% by 2028. In 2020, the construction industry was adversely impacted as major infrastructure projects were halted to curb COVID-19 outbreak. This primarily led to a significant decline in demand for new construction equipment in Philippines for the same year.
• By 2028, the earthmoving equipment segment in Philippines is estimated to grow at a CAGR of 7.41%. In 2021, the government of Philippines had announced 112 projects valued at approximately $94 billion including 76 transport and mobility projects, almost half of which are infrastructure development and renovation in 2022. These infrastructure projects undertaken by the government are expected to surge the demand for earthmoving equipment in Philippines over the long term.
• Long-term industrial development will be fueled by the government's intention to invest $85 billion in transportation infrastructure, almost half of which are road, highway, expressway, or bridge projects. Projects such as Sangley Airport ($28 million), Metro Manila Skyway Stage 3 ($1,276.9 million), Samar Pacific Coastal Road Project ($22.8 million), Panguil Bay Bridge ($144 million), Cebu Monorail System ($1,554.5 million), and Davao Sasa Port ($388.5 million) are some of the major projects that are expected to support the growth of construction equipment in Philippines.
• Climate change is a major concern for all countries worldwide, and therefore, many construction equipment manufacturers have incorporated new technologies in their products to reduce carbon emissions. Construction equipment powered by green hydrogen fuel are likely to replace the fossil fuel-based construction equipment in Southeast Asia including Philippines.
• Also, companies in the Philippines energy sector are undertaking initiatives to develop green hydrogen fuel. For instance, in 2022, Singapore-based Gen X Energy entered into a joint venture with ACE Enexor, a subsidiary of AC Energy, to develop Batangas Clean Energy LNG and a green hydrogen powered plant in the Philippines.
• The construction equipment market is highly consolidated, with XCMG Group being the leader, followed by Caterpillar, Volvo Construction Equipment ASIA, Komatsu Group, and SANY Group. These companies have more than 60% share of the total Philippines construction equipment market.
KEY OFFERINGS:
• Market Size & Forecast by Volume (Unit Sales) | 2022-2028
• Market Size & Forecast by Revenue | 2022-2028
• Market Dynamics - Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation - A detailed analysis by moving equipment and Application
• Competitive Landscape - 10 key vendors, 5 other vendors, and 5 distributor profiles
Get your sample today! https://www.arizton.com/request-sample/3264
PHILIPPINES CONSTRUCTION EQUIPMENT MARKET - SEGMENTATION
Civil engineering activities in the country are growing due to increased government investments in transport and infrastructure development projects. Construction activities are expected to grow due to increased investments in development projects such as the Subic Clark Railway and Davao International Airport. The construction equipment market in Philippines is estimated to grow at a CAGR of 7.15% to reach $1,224.7 million in the next 5 years.
Small-scale construction and redevelopment projects in the region are expected to increase the demand for backhoe loaders during the forecast period. Projects such as the National Government Data Center & Virology Science and Technology Institute of the Philippines are planned to be completed by 2023. These projects will further support the demand for construction equipment, including backhoe loaders, in the Philippines.
Market Segmentation by Type
• Earth Moving Equipment
o Excavator
o Backhoe Loader
o Motor Grader
o Other Earth Moving Equipment
• Material Handling Equipment
o Crane
o Forklift and Telescopic Handler
o Arial Platforms (articulated boom lifts, telescopic boom lifts, scissor lifts, etc)
• Road Construction Equipment
o Asphalt Paver
o Road Roller
Market Segmentation by Application
• Construction
• Manufacturing
• Mining
• Others
PHILIPPINES CONSTRUCTION EQUIPMENT MARKET - DYNAMICS
Government expenditure on infrastructure significantly increased in February 2021. This increasing government expenditure on infrastructure development is expected to drive the demand for construction equipment during the forecast period. Moreover, switching to intelligent systems driven by IoT and data analysis for service, networking, and sustainability, the construction equipment market is transitioning to a more innovative industry. Innovation in technology by the vendors are expected to increase their growth in the Philippines construction equipment market.
Looking for more info? Click: https://www.arizton.com/market-reports/philippines-construction-equipment-market
POTENTIAL TARGET AUDIENCE FOR THIS RESEARCH
• Top-level management personnel of existing operators/vendors
• Potential new entrants to the market
• Consultants/consultancies/advisory firms
• Professional landscaping service providers/contractors
• Corporate and governments bodies
WHY SHOULD YOU BUY THIS RESEARCH?
• Volume (Unit sales)
• Type
• Application
• Value (USD)
• Type
• Application
• Gain competitive intelligence about the economic scenario, advantages in Philippines major projects and investments, dynamics, and market share.
• Examples of the latest technologies.
• Get presentation-ready format and easy-to-interpret data.
• Enable decision-makers to make informed and profitable choices
• Gain expert quantitative and qualitative analysis on value/volume growth projections of the Philippines construction equipment market share
• Complete supply chain analysis
• Get COVID-19 impact analysis of the market
• Company Profile of vendors and distributors
Major Vendors
• Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
• Caterpillar
• Volvo Construction Equipment
• Komatsu
• SANY
• JCB
• Liebherr
• Hitachi
• Zoomlion Heavy Industry Science & Technology Co., Ltd.
• Kubota
Other Prominent Vendors
• John Deere
• Manitou
• Hyundai Doosan Infracore
• Kobelco
• Sumitomo Heavy Industries Ltd.
Distributor Profiles
• Maxima Machineries Incorporated
• Brighton Machinery
• Pinnacle
• Inframachineries
• Topspot Heavy Equipment Incorporated
Explore our industrial machinery profile to know more about the industry.
Click Here to Download the Free Sample Report https://www.arizton.com/market-reports/philippines-construction-equipment-market
ABOUT ARIZTON:
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Arizton Advisory and Intelligence
Call: +1-312-235-2040
+1 302 469 0707
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