Construction equipment comprise of heavy machineries and vehicles that are used to perform heavy duty tasks such as mining, lifting, material handling, excavation.
Asia-Pacific Construction Equipment Market is expected to generate $105.6 billion by 2020, registering a CAGR of 10.37% during the forecast period 2015-2020. Construction equipment are machinery specially designed to perform heavy duty tasks in construction and earthwork operations.
Construction equipment are used accomplish construction tasks such as material handling, drilling, excavation, lifting, hauling, excavating, paving and grading. There are several kinds of construction equipment that have specific capabilities to accomplish specific tasks.
Some of the key equipment includes cranes, loaders, excavators and dozers. Each equipment has its unique functionality e.g., excavators are used for excavation, cranes are used for lifting and material handling and loaders are majorly used for earthmoving.
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The construction equipment market is largely driven by developments in residential, commercial and the industrial sector. Factors such as increasing public private partnership and the global economic growth majorly influence the dynamics in construction equipment market.
However, high carbon emissions and an increase in oil prices are key factors that limit the growth of construction equipment market.
The construction equipment market is witnessing rapid growth in the Asia-Pacific region, specifically in countries such as China, India and Japan due to favorable government investments in infrastructure projects and economic growth. Hike in crude oil prices negatively affects the Asia Pacific construction equipment industry, as it adds extra cost to the construction project.
The Asia-Pacific construction equipment market is segmented based on solutions, type, applications, industries and country. Market by type segment includes loader, crane, excavator, forklift, dozer and others.
The solutions segmentation includes product and service segments. Product segment includes all the equipment and service segment includes rental and maintenance services.
Asia-Pacific construction equipment market is further segmented according to the different applications of these equipment in various verticals. The bifurcation includes excavation, lifting & material handling, earth moving, transportation, and material handling, and mining.
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Based on country, the Asia-Pacific construction equipment market is segmented into China, India, Japan, South Korea and Rest of Asia Pacific. The report highlights the market scenario across China, India, Japan, South Korea and Rest of Asia.
With large scale and rapid infrastructural developments, China accounted for the highest revenue generating country, followed by India. The dynamic growth of the construction equipment market in India is largely attributed to increased infrastructural investments by governments and the increase in public private partnership projects.
The key players operating in Asia-Pacific construction equipment market are, Volvo, Hitachi Construction Machinery, Caterpillar Inc., Liebherr Group, Kobe Steel Ltd. (KOBELCO), CNH Industrial and Komatsu Ltd.
- Comprehensive analysis of the current and future trends in the Asia-Pacific Construction equipment market have been provided in this report
- The report provides a competitive scenario of the Asia-Pacific Construction equipment market with current and future growth trends, structure, driving factors, scope, opportunities and challenges
- The report includes a comprehensive analysis of market segments to provide insights on the market dynamics
- Porters Five Forces analysis highlights the potential of buyers and suppliers as well as provides insights on the competitive structure of the market to devise effective growth strategies and facilitate better decision-making
- Value chain analysis provides key inputs on the role of stakeholders involved at various stages of the value chain
- SWOT analysis of the key market players highlights their strengths and weaknesses along with potential opportunities present in the market
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