In the recent trend, with the significant
increase in the population the activities of the construction has grown more
effectively which further increase the demand for the construction equipment.
The heavy construction equipment are vehicle utilized for the construction
tasks which includes lifting, mining, excavation and material handling. The
market of heavy construction equipment is majorly fueled by the industrial
development, commercial, residential, growing public-private partnership and
several others. Moreover, the steady investment in the industry of heavy
construction equipment is anticipated to be a key composite in the market
growth. Furthermore, many of the players in the market of heavy construction
equipment is doing significant developments in the technology of equipment for
decreasing the price and increasing the efficiency of the product which further
benefitted for leading the fastest market growth and attaining the handsome
amount of share across the globe during the forecasted period.
According to the report analysis, ‘Global
Heavy Construction Equipment Market Size Study, by Type (Earth moving, Material
Handling, Heavy Construction Vehicles), by End-Use Industry (Construction &
Manufacturing, Public Work & Rail Road, Mining), by Application, and
Regional Forecasts, 2017-2025 (USD Billion/Million)’ states that there
are several key players which are presently functioning in this sector more
actively for leading the fastest market growth and attaining the handsome
amount of share across the globe throughout the forecasted period while
increasing the applications of the equipment and catering the effective and
detailed information regarding the crucial factors such as coming trends,
changing behavior of the consumers, growth drivers, growth opportunities and
several others includes Liebherr, Doosan Bobcat, Hitachi Construction Machinery
Co. Ltd., XCMG Group, Deere & Co., Zoomlion heavy Industry Science &
Technology Co. Ltd., Caterpillar, AB Volvo, Komatsu Ltd., and several others.
Moreover, many of the players in this market are investing the high amount of
money for attaining the high return on investment and doing technological
advancements which further proved to be benefitted for leading the fastest
market growth during the forecasted period.
The Global Heavy Construction Equipment Market
industry treasured approximately USD 56.21 billion in 2016 is predicted to rise
with a healthy growth rate of more than 5.94% over the forecast period of
2017-2025. Moreover, the global market of heavy construction equipment is
sectored into different segments which majorly involves type, end use industry,
application and regions. Whereas, on the basis of type, the market is further
segmented into earth moving machinery, material handling machinery and heavy
construction vehicles while, basis on the end use industry the market is
sectored into construction and manufacturing, public work and rail road and
mining. Not only has this, based on the application, the market is split into
infrastructure, real estate and several others.
Additionally, the foremost factors driving the
growth are escalating utilization in the infrastructure sector owing to the
increasing constructional projects and activities. Therefore, in the near
future, it is expected that the market of heavy construction equipment will
increase across the globe more positively over the recent few years.
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