Global Heavy Construction Equipment Market, By Type (Earthmoving, Material Handling, Heavy Construct

Published Date: | Report Code : EQ1912884

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The Heavy Construction Equipment Market is expected to promise high growth owing to the increasing demand for construction equipment in recent years. Increasing demand from End-Use Industries including construction, public works, mining is expected to drive the growth of the heavy construction equipment market. This market has witnessed a number of key developments by major companies including Caterpillar Inc., Doosan Infracoe, Volvo Construction Equipment AB, Komatsu, Hitachi Machinery Construction, JCB, and Sany with focus on organic as well as inorganic growth strategies.  Developing regions including the Asia Pacific and the Middle East have been among the high potential markets with high growth in some of the key economies.

Segment Analysis

Heavy construction vehicles are designed to perform various construction related works, which include earthmoving, material handling, etc., at construction sites, mining sites, and minimize time consumption. Most heavy construction equipment is rented. There are various kinds of construction equipment in the market made according to different parameters.

Due to the rapid increase in the economy, the demand for construction projects is also increasing. Moreover, increasing public-private sector partnerships for the construction of buildings, real estate projects, public infrastructure, etc., are driving the heavy construction equipment market. The Asia Pacific is expected to account for the largest share of the heavy construction equipment market. This market is expected to witness growth in Saudi Arabia, the UAE, and the US due to a rise in demand for heavy construction equipment.

Key Factors Impacting Market Growth:

  • Rapid urbanization to drive market growth
  • Growing demand for construction equipment

Regional Analysis

Major regions for the heavy construction equipment market are estimated to North America, Western Europe, and the Asia Pacific. North America and Western Europe have been traditional markets for mining equipment owing to the strong presence of the industrial sector. The industrial sector has been one of the key contributors to the economies in these regions. Major industries in these regions are estimated to be construction, public works, mining. These industries have an established base resulting in stable market demand. Moreover, most of these industries have been witnessing a transition in terms of product development and production methods. These factors are expected to drive the demand for the heavy construction equipment market in North America and Western Europe region. Major markets by country in these regions include the US, Germany, France, UK, Canada, Spain, and others.

The Asia Pacific and the Middle East region have witnessed tremendous growth in the industrial sector in recent years. Major companies operating in this market have made strategic developments to improve market presence in these regions. In addition to this, some of the fastest-growing economies including China and India have been major markets for various end-use industries including construction, public works, mining. These industries, are estimated to register a high demand for the heavy construction equipment market during the forecast period.

Middle East region has witnessed diversification in terms of industrial outlook in recent decades. UAE, Saudi Arabia, Qatar, and others have been instrumental in promoting the development of various industries including building & construction, pharmaceuticals, automotive, and so on. This is expected to drive the growth of the heavy construction equipment market directly or indirectly in the region. Eastern Europe consisting of Russia and Turkey promises a stable demand for the heavy construction equipment market during the forecast period. The rest of the World including South America and Africa are estimated to be a developing market with strong potential in the strategic future.

Companies Covered: Caterpillar Inc., Doosan Infracoe, Volvo Construction Equipment AB, Komatsu, Hitachi Machinery Construction, JCB, and Sany

Market Segmentation:

By Type:

  • Earthmoving
  • Material Handling
  • Heavy Construction Vehicles

By End-Use Industry:

  • Construction
  • Public Works
  • Mining

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Type
    • By End-Use Industry
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Type
    • By End-Use Industry
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Type
    • By End-Use Industry
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Type
    • By End-Use Industry
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Type
    • By End-Use Industry
  • Rest of the World
    • By Region (South America, Africa)
    • By Type
    • By End-Use Industry

Reasons To Buy This Report:

  • Market size estimation of the heavy construction equipment market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all possible segments helping every stakeholder in the market

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