Global Heavy Construction Equipment Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Heavy Construction Equipment Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global heavy construction equipment market report has been segmented on the basis of product type, application, end user industry, and region.
Global Heavy Construction Equipment Market: Overview
Heavy construction equipments refers to heavy-duty vehicles, heavy machines, and heavy trucks, that is used for construction activities such as mining, lifting, material handling, and excavation. There are variety of heavy construction equipments available in the market which makes construction process easier and faster. Selection of different types of heavy equipment depends on the size of the work, cost, time, material, safety, and quality of the project.
Global Heavy Construction Equipment Market: Dynamics
Rapidly Increasing construction sector and government investment in infrastructure development activities in various emerging economies, drives demand for heavy construction equipments and boost growth of the global target market over the forecast period. In addition, increasing on-shore and off-shore mining activities and irrigation activities, is also expected to propel growth of the target market subsequently. Increasing collaboration and partnership activities such as Public-private partnerships (PPP) in public and government infrastructure projects are some of the other factors expected drives growth of the target market. Moreover, increasing R&D activities by major players and development of technologically advanced emission control systems equipped automated vehicles, is expected to create a lucrative opportunity for growth of the global heavy construction equipment market over the long run.
In August 2016, Caterpillar introduced Cat L-Series of medium wheel loaders – the 966L and 972L – which are equipped with the significant drivetrain and hydraulic system refinement, convenience enhancements, Z-bar linkage, Cat connect telematics, and an automatic traction control system.
Global Heavy Construction Equipment Market: Segment Analysis
Global heavy construction equipment market is segmented on the basis of product type, application, end user industry, and geography.
By product type, the global market is segmented into earthmoving equipment, material handling equipment, heavy construction vehicles, and others. The earthmoving equipment segment is expected to hold significant share in the market over the forecast period. Moreover, lower operating costs and introduction of smart and internet-enabled intelligent excavators, giving a new way for growth of the market.
On the basis of application, the global market is segmented into excavation & demolition, transportation, lifting, material handling, and others. The excavation & demolition segment accounts for major market share in terms of revenue and is expected to maintain its dominance over the forecast period.
Among the end user segment, construction industry is projected to contribute larger share in the global heavy construction equipment market.
Heavy Construction Equipment Market: Regional Analysis
Among regions, the Asia Pacific is expected to dominate the global heavy construction equipment market over the forecast period with a significant CAGR. Rising potential for expansion of the construction sector in china and India owing to government initiatives and infrastructure development are some of the other factors projected to bolster growth for heavy construction equipment market in the region. In addition, increasing urbanization in various countries in the Asia Pacific have triggered demand for residential and commercial construction activities, which giving a new way for growth of the target market. Moreover, trend towards renting heavy construction equipment such as excavators and loaders is expected to boost the market growth. Also, many rental companies focusing on appropriate tests and inspections on rental equipment improving the safety aspects.
Market in Latin America and middle East & Africa are expected to witness a moderate growth owing to introduction of new commercial and industrial construction projects along with investments in development of roadway infrastructure.
Global Heavy Construction Equipment Market Segmentation:
Segmentation by Product Type:
- Earthmoving Equipment
- Material Handling Equipment
- Heavy Construction Vehicles
- Others (Cranes, Excavator, Dozer)
Segmentation by Application:
- Excavation & Demolition
- Material Handling
- Others (Recycling & Waste Management, Tunneling)
Segmentation by End User Industry:
- Oil & Gas Industry
- Agriculture & Forestry
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- J C Bamford Excavators Ltd. (JCB)
- Caterpillar, Inc.
- Komatsu Ltd.
- Terex Corporation
- AB Volvo
- Doosan Infracore Co. Ltd.
- Liebherr Group
- Hitachi Construction Machinery Co. Ltd.
- CNH Industrial N.V.
- Hyundai Heavy Industries Co. Ltd.
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