Global heavy construction equipment market is dominated by players like Caterpillar Inc. (U.S.), Liebherr AG (Switzerland), Terex (U.S.), Volvo Construction Equipment AB (Sweden), Komatsu (Japan), Doosan Infracoe (South Korea), Hitachi Machinery Construction (Japan), JCB (U.K.), Sany (China), and CNH (U.K.).
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The heavy construction equipment market size is estimated to grow from USD 121.46 Billion in 2015 to USD 180.66 Billion by 2021, at a CAGR of 7.0%. The Heavy construction equipment market study analyzes opportunities in market for stakeholders and details of competitive landscape for market leaders.
Study strategically profiles key players and comprehensively analyzes their core competencies.
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Heavy Construction Equipment Market By Type:
- Earth moving equipment
- Material handling
- Heavy construction vehicles
- Others( Pavers/Asphalt Finishers/Compactors and Road Rollers)
Heavy Construction Equipment Market By Application:
- Excavation & demolition
- Heavy lifting
- Recycling & waste management
Heavy construction equipments market is projected to grow at a comparatively lower rate than other regions as a result of weak construction demand in region due to sub-performing economic condition. Asia-Pacific is projected to register highest growth from 2016 to 2021, while India is projected to be fastest-growing country-level market in region for the heavy construction equipment market.
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Overall size of heavy construction equipment market from the revenue of key players. After arriving at overall market size, total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people such as CEOs, VPs, directors, and executives.
- Equipment service providers
- Regulatory bodies
- Construction equipment manufacturers
- Government & research organizations
- Heavy equipment associations
- Investment suppliers
- Consulting companies of heavy construction machinery
“The excavation & demolition segment, by application, held a considerably larger market share in the heavy construction equipment market”. The excavation & demolition segment, by application, is estimated to dominate the heavy construction equipment market and is projected to be the fastest-growing segment during the forecast period.
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Research methodology used to estimate and forecast heavy construction equipment market begins with capturing data on key vendor revenues through secondary research and associations such as Association of Equipment Manufacturers (AEM), Construction Equipment Association (CEA), Committee for European Construction Equipment (CECE) and the Indian Construction Equipment Manufactures' Association (ICEMA).
Factors such increase in mining activities of precious minerals and metals across the globe and increase in natural calamities where excavators are used in rescue operations are driving the growth of the excavation and demolition segment in heavy construction equipment market.
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