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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Ankur Gupta, Head Marketing & Communications