Construction Equipment Market Is Expected To Reach US$ 230.5 Bn By 2022 | Credence Research

Construction Equipment Market Is Expected To Reach US$ 230.5 Bn By 2022 | Credence Research

According to a new market report published by Credence Research Inc “Construction Equipment Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022,” the market for construction equipment is expected to reach 230,5 billion dollars by 2022, The construction equipment market is expected to expand with increasing investment in the construction sector, driven by improved global economic conditions. However, it is also expected that flexible credit policies to buy construction equipment would fuel the market for construction equipment. For the construction equipment industry, rising construction rental market represents a positive outlook.

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In 2014, earth moving equipment accounted for the largest share of revenue relative to other construction equipment types. The section of earth moving equipment includes loaders, excavators, bulldozers and other machinery used for trench digging, foundation building, storage and other applications for earth movement. With increasing urbanization around the world, demand for earth moving equipment is expected to grow. Loader is the most volume-related type of earth-moving equipment. It is anticipated that the material handling equipment segment will see the fastest growth over the forecast period. Increasing investment in the energy sector and bridge building is expected to fuel the market for material handling equipment to boost the transport network.

Asia Pacific is the largest regional market for construction equipment and accounted for more than half revenue share in the global construction equipment market. Rising investment in construction sector in India and China to support their economic developments is the primary factor expected to influence the demand for construction equipment. In North America and Europe demand for construction equipment is expected to increase steadily with replacement of old equipment with advanced equipment. China is the largest individual market for construction followed by the U.S. The significant demand for construction equipment is also expected from emerging economies such as Brazil, South Africa and Russia.

The global construction equipment market is dominated by Caterpillar. Some other  recognized players in this industry include Komatsu (Japan), Hitachi (Japan), Volvo (Sweden), Liebherr (Switzerland), Zoomlion (China), Sany (China), Doosan (South Korea), Terex (U.S.), and John Deere (U.S.). Global manufacturers are facing challenge from low cost Chinese manufacturers particularly in emerging and price sensitive markets.

You can get the sample copy of this research by Credence Research here:

Report Scope by Segments

By Product Type

  • Earth Moving Equipment
    • Excavators
    • Loaders
    • Other (Bull Dozers, Scrappers etc)
  • Construction Vehicles
    • Dumpers
    • Trailer
    • Other (Tankers, Tippers etc)
  • Material Handling Equipment
    • Cranes
    • Forklifts
    • Others (Conveyers, Hoists etc)
  • Concrete and Road Construction Equipment
    • Concrete Mixers and Pavers
    • Crushing and Road Construction Equipment
    • Other(Pumps, Road Rollers etc)

By Geography Segment

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa, Latin America)

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