Global Construction Equipment Market Would Grow at 8.9% CAGR Amid the Period 2015-2020

Jul 23, 2015, 10:23 ET from Big Market Research

PORTLAND, Oregon, July 23, 2015 /PRNewswire/ --

Big Market research has added a report titled "Global Construction Equipment Market - Industry Analysis, Market Size, Share, Growth, Trends and Forecast, 2014 - 2020". As per the report, the global construction equipment market is expected to reach $240.97 billion by the end of  2020, growing at 8.9% CAGR during the period 2015-2020.The comprehensive report offers an extensive analysis of the key market dynamics and emerging trends, key drivers and constraints, in-depth business profile of key market players along with detailed segmentation and forecast.

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The report segments the global construction equipment market based on solution, industries, type, application and geographical locations. Based on types of equipment, the report further segments the market mainly into loaders, forklifts, cranes, excavators, and dozers, among many others. Among the aforementioned types of equipment, loader and cranes segment are expected to dominate the market owing to their versatile applications across construction, public works, and mining activities. Loader segment is expected to be most dominant segment driving the market growth by the end of 2020, contributing over 44% in terms of total market revenue. Increased demand for applications of cranes in lifting and material handling activities will lead to the steady growth of cranes segment. When the market is segmented on the basis of different applications, lifting & material handling segment would occupy about 50% of the total global market in the year 2014 and forecast to grow at a CAGR of 12.4% amid 2015-2020. Furthermore, excavation & mining segment is estimated to grow at 9.5% CAGR amid the period 2015-2020. Based on solution type, the report segments the construction equipment market into product and services, with the market share of products and services being estimated to occupy a ratio of 80:20 throughout the analysis period.

The report offers a detailed insight into the market scenario and industry growth prospects in regions such as Asia-Pacific, North America, Europe, and LAMEA. Geographically, Asia-Pacific region would dominate the construction equipment market throughout the forecast period growing at a CAGR of 10.2% through 2015-2020, whereas the market would observe moderate growth in North American region. Owing to remarkable applications of these construction equipment markets in public works, mining, oil & gas and manufacturing industries, the prominent companies are adopting innovative market strategies such as aggressive product launches and large-scale acquisitions to grow in the market. Using tools such as value-chain analysis, the report takes a closer look at the end-user profile in terms of recent technological developments brought about by major companies.

Leading market players profiled in the report include CNH Industrial, Caterpillar Inc., Liebherr Group, Hitachi Construction Machinery, Komatsu Ltd and Volvo Construction Equipment.

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