Heavy Construction Equipment Market - Global Forecast to 2021 - Expected to Witness High Growth as a Result of the Rise in Urbanization - Research and Markets
DUBLIN, Jan 31, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Heavy Construction Equipment Market - Global Forecast to 2021" report to their offering.
The heavy construction equipment market size will grow from USD 129.11 Billion in 2016 to USD 180.66 Billion by 2021, at an estimated CAGR of 7.0%. The heavy construction equipment market is expected to witness high growth as a result of the rise in urbanization, large-scale investments in infrastructure & industrial sectors, and increase in construction activities in emerging economies. This report has been segmented on the basis of application, end-use sector, type, and region.
On the basis of type, the material handling segment is projected to grow at a higher rate in the forecast period, owing to the factors such as increase in investments in the infrastructure industry to improve facilities in the government and private sector industries.
In terms of value, the excavation & demolition segment, by application, is projected to grow at a higher CAGR in the forecast year. This growth can be attributed to factors such as increase in mining activities of precious minerals and metals across the globe and increase in natural calamities where excavators are used in rescue operations.
In 2015, the construction and manufacturing segment, by end-use sector, constitutes a larger share in the heavy construction equipment market; this is projected to grow at a higher rate during the forecast period due to the rise in public and private investments in the infrastructure sector in the emerging economies of Asia-Pacific, the Middle East, and North America.
Currently, Asia-Pacific is the largest market for heavy construction equipment. China, Japan, Australia, and India are among the major markets of heavy construction equipment. The Asia-Pacific heavy construction equipment market is projected to register the highest CAGR during the forecast period. Increase in industrialization, as well as population in China and India are driving the growth of the Asia-Pacific heavy construction equipment market.
Additionally, other emerging economies such as countries in the Middle East and Latin America are experiencing high demand for infrastructural development constructions. The rapid urbanization in these countries demands faster construction of buildings and facilities for the rising population. Additionally, increased government investments in infrastructural activities provide potential for the growth of the heavy construction equipment market in these countries.
Companies Mentioned:
- Caterpillar Inc.
- CNH Industrial N.V.
- Doosan Infracore Ltd.
- Hitachi Construction Machinery Co. Ltd.
- JCB Ltd.
- Komatsu Ltd.
- Liebherr AG
- Sany Heavy Equipment International Holdings Co. Ltd
- Terex Corporation
- Volvo Construction Equipment
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Heavy Construction Equipment Market, By Type
7 Heavy Construction Equipment Market, By Application
8 Heavy Construction Equipment Market, By End-Use Industry
9 Heavy Construction Equipment Market, By Region
10 Competitive Landscape
11 Company Profile
For more information about this report visit http://www.researchandmarkets.com/research/rf33sd/heavy
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SOURCE Research and Markets
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