A key factor driving the growth of the market is the growth in government spending toward infrastructure. Investment in public infrastructures such as roads, railroads, and bridges is considered one of the major tools for fiscal stimulus. Substantial spending in public infrastructure plays an important role in stabilizing the economy of the nation and facilitating its growth. Investment in infrastructure allows economic growth and provides employment opportunities.
This market research report on the global construction machinery market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing trend of skyscrapers and mixed-use developments as one of the key emerging trends in the global construction machinery market:
Global construction machinery market: Growing trend of skyscrapers and mixed-use developments
The increase in the global population and the rapid movement of people toward urban settlements have given rise to the need for infrastructures such as multi-family homes, condominiums, hospitals, hotels, and offices. This has resulted in the demand for land to surpass its availability. As a result, skyscrapers are being built. Skyscrapers are tall, habitable buildings with multiple floors.
“Skyscrapers are convenient as they accommodate plenty of floor space in a relatively small amount of ground surface due to their immense height. Skyscrapers are also referred to as high-rise buildings. However, the term skyscraper is used for buildings that are higher than 100 meters. Several countries around the world are in a competition to build the tallest structure in the world,” says a senior analyst at Technavio for research on construction.
Global construction machinery market: Segmentation analysis
This market research report segments the global construction machinery market by product (earth moving machinery, material handling machinery, concrete and road construction machinery, and other construction machinery) and geography (APAC, EMEA, and the Americas).
The earth moving machinery segment held the largest market share in 2017, accounting for over 44% of the market. This product segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with close to 65% of the market share, followed by EMEA and the Americas respectively. APAC is expected to demonstrate the fastest growth and dominate the global market throughout the forecast period.
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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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