The global heavy construction equipment market is expected
to reach USD 90.4 billion by 2025 at a CAGR of 5.4%, according to a new report
by Grand View Research, Inc. Increased investment in infrastructure has been a
major factor driving market growth.
Rise in infrastructural development around
the world is the key catalyst that will propel market growth over the forecast
period. Infrastructural development results in increased construction
activities, which eventually creates a demand for heavy duty construction
equipment. Developed infrastructure boosts economic growth by assisting
cross-border trade and industrial growth.
Private financing is a key way to fund
infrastructural development plans. For instance, infrastructure development in
India has witnessed increased participation of private players in recent years.
Moreover, the Indian government has increased its budget for infrastructural
development.
Heavy construction equipment market is
likely to witness high demand due to various government initiatives to expand
airports globally. As of January 2015, global investments for construction of
airports was nearly USD 540.0 billion. For instance, news reports suggest that
the total number of passengers traveling via Mumbai (India) airport has tripled
in the last decade. To overcome this, the Indian government has approved an
investment of USD 2 billion for the construction of the Navi Mumbai airport, which
will help distribute domestic and international passengers. Development
plans such as these are sure to give the global market a major boost.
Access Research Report
of Heavy Construction
Equipment Market@ www.grandviewresearch.com/industry-analysis/heavy-construction-equipment-market
Further key findings from the report suggest:
· The global heavy construction equipment
market demand was valued at USD 55.9 billion in 2016 and is expected to
register a CAGR of 5.4% from 2017 to 2025. Increased investments in the
infrastructure sector, especially in developing countries such as India,
Malaysia, and Indonesia, is a key factor
· Earth moving machinery emerged as the
largest product segment and is estimated to generate a revenue of USD 36.6
billion by 2025. This can be attributed to rise in investments to develop
airports across the globe
· Real estate is anticipated to be the
fastest-growing application segment over the forecast period with a CAGR of
6.3%. This sector is driven by development of smart cities in countries such as
India, France, and Singapore
· Asia Pacific is anticipated to register the
fastest growth, registering a CAGR of 6.6% by 2025. This can be attributed to
growth of construction activities in countries such as India, Malaysia, and
China
· Key market players include Komatsu Ltd.;
Volvo; Caterpillar Inc.; and Hitachi Construction Machinery. Market players
have forward integrated their operations to gain competitive advantage in the
global market
· In 2016, SRB Group of India entered into a
joint venture with Russia-based Uralmash Machine-Building Corporation to
manufacture heavy duty construction equipment for the Indian market
Grand View Research has segmented the
global heavy construction equipment market report on the basis of product,
application, and region:
Heavy Construction Equipment Product
Outlook (Revenue, USD Million, 2014 - 2025)
·
Earth Moving Machinery
·
Material Handling Machinery
·
Concrete & Road Machinery
·
Others
Heavy Construction Equipment Application
Outlook (Revenue, USD Million, 2014 - 2025)
·
Infrastructure
·
Real estate
·
Other
Heavy Duty Construction Equipment Regional
Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
U.K.
·
Asia Pacific
o
Japan
o
China
o
India
·
Central & South America
o
Brazil
·
Middle East & Africa
o
UAE
Access
Press Release of Heavy Construction Equipment Market@ www.grandviewresearch.com/press-release/global-heavy-construction-equipment-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The company
provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
