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Global Construction Equipment Market - OverviewConstruction equipment is a critical tool for all construction projects. They are used at construction sites for reducing time and labor cost. The market is expected to continue with the moderate growth trend during the forecast period. There have been few factors driving the market such as increased demand from BRIC countries supporting the growth for construction equipment, construction development in Russia as it hosts 2018 FIFA world cup, and high demand from Brazil.
Huge investments in infrastructural projects in BRIC countries have spurred the demand for heavy construction equipment for commercial and residential purpose. Asia-Pacific region has given a tough competition to well established European and U.S. markets when it comes to heavy machinery.
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Global Construction Equipment Market - Competitive Analysis
Construction equipment manufacturers have been more focused on launching new products in the market due to technical advancement, increasing demand for heavy equipment, and to have a competitive advantage. North American heavy equipment manufacturers introduced many new products in the market especially in the Asia-Pacific region due to high growth in construction activities in those regions. In order to strengthen their market position outside Asia-Pacific, many Asia-Pacific companies focused on growing in Europe and North America through Mergers & Acquisitions, and by signing various agreements for technical collaborations.
With the emergence of new technologies, the original equipment manufacturers have been launching sophisticated products and machinery. For instance, Komatsu began the launch of its Intelligent Hydraulic Excavator. It has begun in Europe and Japan and is expected to be followed by United States. The idea is to tap the regions which lead the ICT-based construction. Also, Komatsu has acquired 100% ownership of Joy Global Inc. (U.S.). The process got closed in the mid of 2017. This acquisition is expected to strengthen the core equipment business to achieve company’s sustainable growth.
Caterpillar (U.S.) introduced its Cat utility vehicles – the gasoline-powered Cat CUV82 and diesel-powered CUV102D. The company gathered extensive customer and dealer input to build a UTV that delivers the combination of durability, comfort and maintenance simplicity. Features such as easy acceleration, clear sightlines and engine braking capability make the Cat UTV well suited for hauling and towing.
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AB Volvo
Caterpillar Inc.
Komatsu Ltd.
Doosan Heavy Industries & Construction Co. Ltd.
Hitachi Construction Machinery Co. Ltd.
C. Bamford Excavators Limited
Kobe Steel Ltd.
Liebherr Group
Atlas Copco AB
Hyundai Heavy Industries Co., Ltd
Global Construction Equipment Market - Segments
Global Construction Equipment Market is segmented in to 4 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Equipment : Comprises – Earth moving, Material handling, Concrete, and others.
Segmentation By End-use : Comprises – Lifting & material handling, Earth moving, Excavation, Transportation, and others
Segmentation By Application : Comprises – Oil & Gas, Infrastructure, Construction, Agriculture, Mining and others
Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World
Target Audience
Manufactures
Raw Materials Suppliers
Aftermarket suppliers
Research Institute / Education Institute
Potential Investors
Key executive (CEO and COO) and strategy growth manager
Key Point Covered in this Report TOC:
Global Construction Equipment Market By Region
Global Construction Equipment Market By Equipment
Global Construction Equipment Market By Application
Global Construction Equipment Market By End-Use
Company Profiles
11.1 AB Volvo
11.1.1 Overview
11.1.2 Financials
11.1.3 Product Portfolio
11.1.4 Business Strategies
11.1.5 Recent Development
11.2 Caterpillar Inc.
11.2.1 Overview
11.2.2 Financials
11.2.3 Product Portfolio
11.2.4 Business Strategies
11.2.5 Recent Development
11.3 Komatsu Ltd.
11.3.1 Overview
11.3.2 Financials
11.3.3 Product Portfolio
11.3.4 Business Strategies
11.3.5 Recent Development
11.4 Doosan Heavy Industries & Construction Co. Ltd.
11.4.1 Overview
11.4.2 Financials
11.4.3 Product Portfolio
11.4.4 Business Strategies
11.4.5 Recent Development
11.5 Hitachi Construction Machinery Co. Ltd.
11.5.1 Overview
11.5.2 Financials
11.5.3 Product Portfolio
11.5.4 Business Strategies
11.5.5 Recent Development
Global Construction Equipment Market - Regional Analysis
Geographically, Asia-Pacific and Latin America were the fastest growing regions by a wide margin. China continues to be the largest construction equipment market in 2016. Asia-Pacific is expected to continue showcasing robust construction spending growth. The construction spending in China standouts followed by India, Indonesia and Vietnam. All sectors are likely to witness significant growth, largely led by non-residential construction. Additionally, China not only exhibits significant levels of growth but is also the largest market in the world. Construction spending in China is shifting from the coastal cities to the interior and western provinces that will lead to the higher use of construction machinery. India, on the other hand, is seeking increase in private funding solutions in the provision of much of the new infrastructure needed. However, the reconstruction is only expected to provide a short-term boost to construction activity that is likely to return to trend later in the decade. In Southeast Asia relatively strong construction spending growth is also expected in Indonesia and Vietnam, as both countries upgrade infrastructure to support their growing populations.
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