Southeast Asia Construction Equipment Market Poised for Remarkable Expansion, the Sales to Reach 97,452 Units by 2029 - Arizton

According to Arizton's latest research report, the Southeast Asia construction equipment market will grow at a CAGR of 4.69% from 2023-2029.

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Governments invest in construction projects in major Southeast Asian countries, such as Indonesia, Malaysia, and Singapore. The Penang Transport Master Plan, MRT Circle development project, and Sarawak-Sabah Link Road project in Malaysia are some significant projects. Governments are also focusing on mining projects in Indonesia and Thailand. Southeast Asian countries, such as Indonesia, Thailand, and Malaysia, primarily invest in the mining of tin, nickel, cobalt, and bauxite in response to the rise in the global demand for electric construction equipment. Indonesia has the largest nickel reserve in the world and possesses 21 million tons of nickel reserves, according to Indonesia's Investment Coordinating Board, 2022. Investments in construction and mining projects across Southeast Asian countries are expected to drive the demand for earthmoving equipment.

High Demand for Rental Construction Equipment to Hinder the Southeast Asia Construction Equipment Market Growth
• The global pandemic and geopolitical crises have resulted in supply chain disruptions for construction equipment manufacturing, ultimately driving prices upwards. For example, the semiconductor chips required for equipment engines have recently risen manifold times.
• The price of some microcontroller chips in Malaysia has increased by approximately 400% in 2022. Additionally, chip manufacturing costs in Singapore increased by 20% in 2022.
• Other raw materials, such as prices of steel, have also magnified. The cost of iron ore and choking coal, key inputs in steel production, has also risen.
Vendor Insights
• Caterpillar, Komatsu, Liebherr, Volvo CE, Hitachi Construction Machinery, Zoomlion, XCMG, and SANY are leaders in the Southeast Asia construction equipment market. These companies have a strong market share and offer diverse sets of equipment.
• Kubota, Kobelco, Sumitomo, HD Hyundai Construction Equipment, and DEVELON are emerging. These companies are introducing new technologically advanced products to challenge the share of Southeast Asia construction equipment market leaders in the region.
• Sunward, Tadano, Haulotte, Kato Works Co. Ltd., AUSA, Merlo Spa, CNH Industrial, Shantui, Bobcat, and Ammann have low product diversification in the Southeast Asia construction equipment market; these companies are lagging in adopting new technologies used in construction equipment.
• In Jan 2023, Kobelco Construction Machinery stated the sales of the TK750GLB crawler crane with a maximum lifting capacity of 75 tons. With a maximum length of 35.0 m for the boom, the TK750GLB surpasses the preceding model TK750G by 5 m in lifting height and 2 m in operating radius, resulting in a 2.7 t increase in lifting capacity with the basic boom specification.

What's Included in the Report:
• Impact of COVID-19
• CAGR for the forecast period 2023-2029
• All construction equipment types include earthmoving, road building, and material handling.
• Construction equipment used by end users, such as construction, mining, warehouse & transport, and other industries.
• Volume and Value within countries are based on domestic demand and supply.
• Construction equipment imported from other countries (excluding used equipment).
• The Construction equipment market includes only new equipment unless we have provided a used/lease/rental market separately.
• All currency conversions are in USD unless specifically stated.
• The volume market signifies Unit Sales and is in absolute numbers, and the value market signifies US $ millions unless specifically mentioned.
• Global and regional manufacturers have a significant presence in the region/country, and domestic manufacturers are considered for evaluations in vendor capability matrix.
• Companies' functional capabilities, such as regional revenue, segment revenue, distribution status, mergers & acquisition, brand positioning, and operational capabilities, such as product launches, production capacity, technology adoption, and promotional strategies, were collected through secondary research and mapped in four quadrants to position them as front runner, straggler, emerger, and nicher.

Southeast Asia Construction Equipment Market Dynamics
Drivers
 Surge in Investment in the Construction Industry
 High Expenditure in Green Hydrogen Projects
 Prominent Mining Sector in the Region
Trends
 Rise in Investment in Renewable Energy Sector
 Rising Focus on Compact & Electric Construction Equipment
 Rise in Waste-to-Energy Projects
Challenges
 Skilled Labor Shortage
 Rising Construction Costs
 High Demand for Rental Construction Equipment
Opportunities
 Increasing investments to achieve net-zero emission by 2050
 Significant investments in R&D
 Incorporation of Smart Technology

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Key Vendors
• Caterpillar
• Hitachi Construction Machinery
• Komatsu
• Liebherr
• Volvo Construction Equipment
• Kobelco
• Kubota
• Zoomlion Heavy Industry Science & Technology Co., Ltd.
• SANY
• Xuzhou Construction Machinery Group (XCMG)
• Hyundai Construction Equipment
• SUMITOMO CONSTRUCTION MACHINERY CO., LTD.
• Develon
• JCB
• Yanmar
• Tadano
• Takeuchi Manufacturing
• Manitou
• Toyota Material Handling
• AUSA
• KATO WORKS CO., LTD.
• Haulotte
• MERLO S.p.A.
• Bobcat
• LiuGong
• CNH Industrial
• Sunward Intelligent Equipment Group
• Shantui Construction Machinery Co., Ltd.
• AMMANN
Distributor Profiles
• Sia & Yeo Heavy Equipment Pte Ltd
• TIONG LEE HUAT MACHINERY & CONSTRUCTION PTE LTD
• PLS MACHINERY PTE LTD
• Ricon
• LAND EQUIPMENT PTE LTD
• Italthai Industrial
• Leadway Heavy Machinery Co., Ltd.
• Ariya Group
• Paragon Machinery
• PT Indotruck Utama
• United Tractors
• Multicrane Perkasa
• PT Airindo Sakti
• SIN LOY HENG Engineering Sdn Bhd
• UM Construction Equipment Sdn Bhd
• Topspot Heavy Equipment Inc.
• BinhLoi CO.,LTD

Market Segmentation
Type
• Earthmoving Equipment
o Excavator
o Backhoe Loaders
o Wheeled Loaders
o Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
• Road Construction Equipment
o Road Rollers
o Asphalt Pavers
• Material Handling Equipment
o Crane
o Forklift & Telescopic Handlers
o Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
• Other Construction Equipment
o Dumper
o Tipper
o Concrete Mixer
o Concrete Pump Truck
• End Users
o Construction
o Mining
o Manufacturing
o Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)
• Region
o Indonesia
o Thailand
o Philippines
o Malaysia
o Singapore
o Rest of Southeast Asia

Key Questions Answered in the Report:
How big is the Southeast Asia construction equipment market?
What is the growth rate of the Southeast Asia construction equipment market?
Who are the key players in the Southeast Asia construction equipment market?
What are the trends in the Southeast Asia construction equipment market?
Which are the major distributor companies in the Southeast Asia construction equipment market?

Buy this Research @ https://www.arizton.com/market-reports/south-east-asia-construction-equipment-market

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This release was published on openPR.