Press release
Construction Equipment Market - Rising Trends & Growth Parameters to 2024 | Caterpillar Inc, Komatsu, Sany Group, XCMG Group, CNH Industrial
Infrastructure refurbishment and modernization being the most significant factors responsible for the overall development of an economy are compelling several government organizations to invest heavily in the construction sector. Increasing government investments in the construction sector will surge the demand for sturdy construction machinery. Large-scale road and rail construction projects undertaken by government organizations will further stress the demand for construction equipment market. Tight project completion schedules are throwing light on the significance of the use of the advanced construction machinery.
The demand for automated storage and material handling equipment in warehouses will drive the construction equipment market growth. Furthermore, the rise in the number of tall buildings and skyscrapers across various regions will surge the demand for cranes over the forecast timespan.
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Construction Equipment Market is anticipated to exceed USD 170 billion by 2024. The globally flourishing construction sector is surging the demand for high-performance machinery that aids in reducing human involvement in the construction process. The rapid growth in the number of construction activities is exerting pressure on the existing human resources. The demand for sophisticated construction equipment that reduces the overall capital investment will contribute to the construction equipment industry growth.
The incorporation of sensor systems and modern technologies into the material handling equipment will surge the demand for these machines. Bulk material handling systems facilitate fast and easy transfer of large volume of goods that are difficult to manage using human resources. Industrial trucks that are sturdy enough to enable the smooth transfer of heavy materials will propel the construction equipment market growth. Storage equipment enables accurate buffering and holding of materials over a period of time.
Construction Equipment Market, by Product: -
o Earthmoving & Road Building Equipment
o Material Handling & Cranes
o Concrete Equipment
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The Asia Pacific construction equipment market will witness a strong growth owing to the growing government focus toward the construction sector. Initiatives, such as Make in India and Made in China 2025, supporting the infrastructure sector will favor the industry growth. Initiation of projects, such as South-North Water Transfer Project in China, will propel the industry demand in the region. The development of smart city projects in Singapore will surge the demand for high-performance machinery.
The high initial and maintenance costs of the machinery discouraging the adoption of the equipment for small-scale construction projects will hinder the construction equipment market growth. Construction projects with limited monetary resources are still preferring traditional manual construction techniques over modern machinery. Equipment incorporated with the latest technologies, such as GPS and IoT, is further increasing the overall equipment cost, thereby restricting the construction equipment industry growth.
The major players operating in the construction equipment market include: -
1. Volvo Construction Equipment
2. Caterpillar Inc.
3. Komatsu Ltd.
4. Hitachi Construction Machinery Co. Ltd.
5. CNH Industrial
6. Zoomlion Heavy Industry Science & Technology Co. Ltd.
7. Kobelco Construction Machinery Co. Ltd.
8. Terex Corporation
9. Liebherr
10. Sany Group
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About DEC Research:
DecResearch.com, powered by Global Market Insights, is an online aggregator of information on market research reports. The website provides comprehensive information as well as a detailed 'Table of Contents' for reports being regularly published by GMI.
Contact Us:
DEC Research,
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: info@decresearch.com
The demand for automated storage and material handling equipment in warehouses will drive the construction equipment market growth. Furthermore, the rise in the number of tall buildings and skyscrapers across various regions will surge the demand for cranes over the forecast timespan.
Request for a sample copy of this report @ http://decresearch.com/request-sample/detail/2803
Construction Equipment Market is anticipated to exceed USD 170 billion by 2024. The globally flourishing construction sector is surging the demand for high-performance machinery that aids in reducing human involvement in the construction process. The rapid growth in the number of construction activities is exerting pressure on the existing human resources. The demand for sophisticated construction equipment that reduces the overall capital investment will contribute to the construction equipment industry growth.
The incorporation of sensor systems and modern technologies into the material handling equipment will surge the demand for these machines. Bulk material handling systems facilitate fast and easy transfer of large volume of goods that are difficult to manage using human resources. Industrial trucks that are sturdy enough to enable the smooth transfer of heavy materials will propel the construction equipment market growth. Storage equipment enables accurate buffering and holding of materials over a period of time.
Construction Equipment Market, by Product: -
o Earthmoving & Road Building Equipment
o Material Handling & Cranes
o Concrete Equipment
Make an Inquiry for Purchasing this Report @ http://decresearch.com/inquiry-before-buying/2803
The Asia Pacific construction equipment market will witness a strong growth owing to the growing government focus toward the construction sector. Initiatives, such as Make in India and Made in China 2025, supporting the infrastructure sector will favor the industry growth. Initiation of projects, such as South-North Water Transfer Project in China, will propel the industry demand in the region. The development of smart city projects in Singapore will surge the demand for high-performance machinery.
The high initial and maintenance costs of the machinery discouraging the adoption of the equipment for small-scale construction projects will hinder the construction equipment market growth. Construction projects with limited monetary resources are still preferring traditional manual construction techniques over modern machinery. Equipment incorporated with the latest technologies, such as GPS and IoT, is further increasing the overall equipment cost, thereby restricting the construction equipment industry growth.
The major players operating in the construction equipment market include: -
1. Volvo Construction Equipment
2. Caterpillar Inc.
3. Komatsu Ltd.
4. Hitachi Construction Machinery Co. Ltd.
5. CNH Industrial
6. Zoomlion Heavy Industry Science & Technology Co. Ltd.
7. Kobelco Construction Machinery Co. Ltd.
8. Terex Corporation
9. Liebherr
10. Sany Group
Request for Discount @ http://decresearch.com/request-discount/2803
About DEC Research:
DecResearch.com, powered by Global Market Insights, is an online aggregator of information on market research reports. The website provides comprehensive information as well as a detailed 'Table of Contents' for reports being regularly published by GMI.
Contact Us:
DEC Research,
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: info@decresearch.com
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