The global construction equipment market is increasingly transforming into a highly contested, consolidated, and capital intensive industry. The global manufacturers and suppliers have been vying for the rising opportunities in the private sector. However, the governments across the globe primarily in Asia, the Middle East, and North America has upped the ante and are on a spending spree. The Government of China, India, UAE, Saudi Arabia, the United States have planned massive investments to re-invigorate the economy by boosting the spending on social infrastructure such as roads, highways, commercial spaces, residential units, ports, airports. This rising momentum in the construction industry is anticipated to present immense opportunities for the construction equipment suppliers and manufacturers across the globe.
According to the MarkNtel Advisors’ research report, “Global Construction Equipment Market Analysis, 2020”, the global construction equipment market is set to grow at a CAGR of around 7.2% during 2020-25. The revived Government spending across the globe is increasingly emerging as a major booster for the rising sales of construction equipment across the globe. Rising mining and exploration activities, creation of a world-class infrastructure in emerging economies, are inducing the need for construction equipment. Moreover, several countries such as Russia, the US, India, Denmark, China, etc. are exploring the mining opportunities in the least explored and inhabitable regions in their respective countries. These fresh initiatives have created an additional demand for such equipment.
Growing Technology Integration to Propel the Construction Equipment Market
The construction is witnessing a paradigm shift in the adoption of technology. The construction equipment end-users face several issues such as performance measurement, after-sales services, shortening the technology life cycle, etc. Therefore, the construction equipment manufacturers are increasingly investing in technology to provide equipment with better hydraulics, improved control systems, and greater fuel efficiency, as revealed by MarkNtel Advisors in its research report “Global Construction Equipment Market Analysis, 2020”.
Rise of Chinese Construction Equipment Manufacturers
According to MarkNtel Advisors, the Chinese manufacturers are increasingly carving out a considerable market share in the global construction vehicle market. Due to incessant backing of the local government, these companies are gradually expanding their reach in Asia, Africa, Middle East, and Latin America. Among the global construction equipment manufacturers such as Caterpillar, Volvo, Komatsu, Hitachi, JCB, Liebherr, Case, etc., the Chinese manufacturers such as Sany, Doosan, XCMG, Zoomlion, LiuGong, Sinomach, etc, are increasing their footprints in the global market.
"Global Construction Equipment Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for Construction Equipment firms across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go to Market Strategies and identifying the blue ocean for their offerings.
1. By Type of Equipment (Earthmoving Equipment, Material Handling, Road Building & Concrete)
2. By Type of Product (Excavator, Loader, Skid Steer Loaders, Crawler Loaders Grader, Bulldozer, Road roller, Dump Trucks Tipper, Forklifts, Cranes, Diesel Generators, Diesel Generator, Others)
3. By Application (Power & Utilities, Mining, Hospitality, Residential, Healthcare & Residential Institutes, Manufacturing Units, Others)
4. By Geographic Region (North America, South America, Europe, Middle East & Africa, Asia Pacific)
5. By Countries (US, Canada, Mexico, Brazil, Chile, Argentina, Germany, France, UK, Russia & CIS South Africa, Nigeria, UAE, Saudi Arabia, Kuwait, Qatar, China, India, South East Asia, Japan, Others)
6. By Power Output (Less Than 100 HP, 101-200 HP, 201-400 HP, More than 400 HP)
7. By Propulsion (Diesel, Gas, Others (CNG, LNG, Electric)
8. By Competitors (Caterpillar, Komatsu, JCB, Doosan, Sany, Case, Liebherr, Terex, Volvo, Hitachi, CNH, XCHG, Sany)
Key questions answered in the study:
1. What are the current and future trends of the Global Construction Equipment market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the Global Construction Equipment market?
6. What are the customer orientation, purchase behavior, and expectations from the Construction Equipment companies across various regions?