High Growth In Real Estate Sector Boosts The Demand For Heavy Construction Equipment Market
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Construction equipment is used for tasks like mining, material handling, lifting, and excavation. The demand for the Heavy Construction Equipment Market is augmented by factors like commercial and industrial development, private public partnership, and economic growth.
The construction machines can be of different types. But it is important to choose the right type of equipment.While selecting heavy machinery, the industries concentrate on the parameters like material, cost, complexity of the project, and safety. Growth in the private sector, improving economic conditions, and commercial infrastructure are the key factors driving the market.
Scope & Regional Forecast of the Heavy Construction Equipment Market:
The increasing government initiatives support the growth of the building construction equipment. The Indian government has made investments for the development of roads, railway tracks, airports, and infrastructure development, which involves the use of loaders and excavators.
The growth of the heavy duty machinery is restricted due to the changing prices of crude oil. Most of the equipment used in the industries run on diesel, which release high Carbon emissions.
This factor also hampers the Heavy Construction Equipment Market.
The growth of the excavator segment is boosted by increasing demand for the machinery equipment. Asia Pacific had a major share in the market in 2015.
This will continue during the forecast period due to the usage of earth moving equipment in the construction application. Construction of new buildings and renovation of the existing buildings drives the demand of the construction vehicles in Europe.
Demand for new transport and utility infrastructures will beneficial for the Asia Pacific market until 2020. The infrastructure industry is expected to be the fastest growing industry because of the government initiatives related to the infrastructure development projects like dams, expressway, and national highways.
Segmentations & Key Players Involved in the Heavy Construction Equipment Market:
The Heavy Construction Equipment Market can be broken down into various segments as follows:
- Product- Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, and Others.
- Application- Excavation & Demolition, Heavy Lifting, Material Handling, Recycling & Waste Management, and Tunnelling.
- Region- North America, Europe, China, Japan, Southeast Asia, and India.
Some of the key players involved in the Heavy Construction Equipment Market are as follows:
- AB Volvo
- Caterpillar, Inc.
- Komatsu Ltd.
- Doosan Infracore Co. Ltd.
- Hitachi Construction Machinery Co. Ltd.
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