Global Construction Equipment market is expected to grow at a CAGR of approximately 8% by 2022, and with this it is predicted to cross USD 200 Billion by 2022
Construction equipment market players follow various strategies like agreements, expansion, joint ventures, partnerships and contracts to acquire a larger share in market. Countries with emerging markets are being focused by construction equipment providers which are expected to show a huge potential for industrial developments in the future. The major driver for growth of this sector is the increasing investments done to improve infrastructures. The major factors that will affect the Construction Equipment Market in near future are global economic growth, public private partnerships, increase in oil prices, increasing government expenditure in infrastructure development, industrial, commercial and residential investments and a few more. The market is expanding with the increasing demand for residential & industrialization and commercial infrastructure developments. Improving economic conditions are also helping in growth of this sector.
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Market Research Analysis:
The construction equipment market is constantly enhancing with changing technologies and huge infrastructure developments. The companies in this market rely on local and regional distributors to enhance the geographical presence in the market. Inorganic growth strategies such as acquisitions are followed by companies to cope with increasing demand for construction equipment in key markets. This helps companies to create a large customer and partner base in key markets. The change in operating conditions and applications requirements for construction equipment make it necessary for manufacturers to invest in R&D to come up with new products.
Additionally, the market share of APAC region was valued to be over 60% in 2015. It is expected that the region is going to show similar trends by the end of the forecasted period due to the increased requirement of infrastructure, public utility and commercial and non-commercial construction in emerging nations of China and India. The region is marked with increasing population, rapid urbanization and need for economic development. This drives the market for such construction equipment to support the population and urbanization in the nations of Asia pacific. The global construction equipment market is expected to cross USD 200 billion by the end of 2022 with a growth rate of approximately 8% in the forecasted period.
Scope of the report
This study provides an overview of the global Construction Equipment Industry, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global construction equipment market as equipment, application and end-use. On the basis of equipment it is segmented as earth moving, material handling, concrete, and others. On the basis of Application it is segmented as oil & gas, infrastructure, construction, agriculture, mining and others. On the basis of end-use it is segmented as lifting & material handling, earth moving, excavation, transportation, and others.
North America: Heavy Construction Equipment Market – Industry Analysis & Forecast to 2027
North America is considered to be a matured economy in terms of construction industry and considered to be the second largest market in construction industry. Because of the tag of emerged economy and high disposable income North America has become a matured market for construction industry https://www.marketresearchfuture.com/articles/north-america-heavy-construction-equipment-market
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