DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/mn3lkh/heavy) has announced the addition of the "Heavy Construction Equipment Market by type, Application and Industry - Forecast to 2020" report to their offering.
The global heavy construction equipment market is estimated to reach USD 166.05 Billion by 2020, with a projected CAGR of 6.80%, signifying a steady increase in the demand for heavy construction equipment.
Heavy construction equipment is a critical tool for any construction project. They are used extensively at construction sites to reduce labor cost and time. The high construction and infrastructural growth, technological developments and their adaptations, and rapid urbanization have fueled the growth for heavy construction equipment. Infrastructure is the largest end-use area for heavy construction equipment especially in emerging markets such as China, Brazil, and India.
The global heavy construction equipment market is witnessing decent growth based on heavy investments done in the infrastructure recreation to accommodate smart residential and commercial buildings. The developing markets in Asia-Pacific are witnessing a strong demand for heavy construction equipment; therefore, large investments are made in these regions.
They provide advanced heavy construction equipment, and by gaining considerable expertise and experience over the years, have optimized their processes and practices to become even more efficient.
The material handling equipment segment is projected to grow at the highest CAGR of 8.42% from 2015 to 2020. The key players of heavy construction equipment market implement different strategies such as expansions, agreements, contracts, joint ventures, and partnerships to garner a larger share in the market. The leading heavy construction equipment providers are focusing on countries with emerging markets that are estimated to show potential for industrial development in the near future.
The heavy construction equipment market is a highly fragmented one owing to the huge infrastructure demand and changing technologies. Major companies rely on regional and local distributors to increase their share as well as geographical presence in the market. One of the major developments observed in the heavy construction equipment market is agreements, contracts, joint ventures, and partnerships. Companies are adopting inorganic growth strategies such as acquisitions to cope with the increasing demand for heavy construction equipment in key emerging markets. These strategies have aided companies to create a large customer and partner base in key markets. The applications requirements for heavy construction equipment and well as the operating conditions are continuously changing making it essential for the manufacturers and service providers to continually invest in research and development activities and come up with innovative solutions.
Scope of the report
On the basis of type, the heavy construction equipment market has been segmented as follows:
- Earthmoving Equipment
- - Excavators
- - Loaders
- - Backhoe
- - Motor graders
- Material Handling Equipment
- - Cranes
- - Telescopic handlers
- Heavy Construction Vehicles
- - Dumpers
- - Tippers
- Other Heavy Construction Equipment (compactors & road rollers, and pavers/asphalt finishers)
On the basis of application, the heavy construction equipment market has been segmented as follows:
- Excavation & Demolition
- Heavy Lifting
- Material Handling
- Recycling & Waste Management
On the basis of industry, the heavy construction equipment market has been segmented as follows:
- Oil & Gas
- CNH Global N.V.
- Caterpillar Inc.
- Deere & Company
- Doosan Infracore Ltd.
- Hitachi Construction Machinery Co. Ltd.
- Hyundai Heavy Industries Co. Ltd.
- JCB Ltd.
- Komatsu Ltd.
- Liebherr-International AG
- Sany Heavy Industries Co. Ltd
- Terex Corporation
- Volvo Construction Equipment Ab
- Xuzhou Construction Machinery Group Co. Ltd.
For more information visit http://www.researchandmarkets.com/research/mn3lkh/heavy