Mar 22, 2020 (Heraldkeepers) -- Asia-Pacific Heavy Construction Equipment Market Research Report 2020: Industry Size, Share, Trends, Growth, Sales, Revenue, Risk and Opportunity Assessment with Regional Analysis and Segmentation By Types (Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, Others (Cranes, Excavator, Dozer)), By applications (Mining & Excavation, Earthmoving, Transportation, Lifting, Material Handling, Others), end users (Oil & Gas Industry, Construction Industry, Military, Mining, Agriculture & Forestry and Others) – Forecast to 2021
The noted players of the Asia-Pacific heavy construction equipment market profiled in this MRFR report are –
Shreeji Earthmovers, Mahindra Construction Equipment, Hitachi, Komatsu, Kayaba Industry, Hyundai Heavy Industries, Caterpillar Inc., Terex, Bharat Earth Movers, And JCB Company.
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According to Market Research Future (MRFR)'s latest assessment, the Asia-Pacific heavy construction equipment market is prognosticated to expand at a CAGR of 8.2% during the forecast period. The report estimates that the market is anticipated to surpass a valuation of USD 100 Bn by the end of 2020. The boom witnessed in the construction sector in Asia Pacific is poised to encourage the growth pattern of the market in the years to come.
The economic development of the region is primarily responsible for accelerating revenue creation in the construction industry. This, in turn, is likely to drive the growth of the Asia-Pacific heavy construction equipment market over the next few years. Also, the region is likely to attract Foreign Direct Investments which is poised to catapult the market on an upward trajectory.
Heavy construction equipment lessens the dependency on manual labor and enhances operational efficiency. It is prognosticated to have a favorable impact on the Asia-Pacific heavy construction equipment market in the upcoming years. The increasing disposable income of the population in conjunction with rising standards of living is forecasted to catalyze market growth over the assessment period.
The initiatives taken by the governments for infrastructural development are expected to have a positive influence on the growth of the Asia-Pacific heavy construction equipment market over the next few years. Also, the investments in the modernization of construction equipment are prognosticated to dictate the growth pattern of the market. However, the high cost of these equipment remains an impediment to market growth.
Scope of the Report
This market research report covers the APAC heavy construction equipment market research report on the basis of types, application, end users and country analysis
On the basis of types
On the basis of applications
On the basis of end users
Industry News:
on May 2017, Volvo CE has unveiled electric compact excavator prototype that delivers zero emission 10 times higher efficiency, 10 times lower noise levels and reduced total cost of ownership.
On September 2016, Hitachi Construction Machinery Develops Object Detect Assist Technology for Mining Dump Trucks that will detect the obstacle when operator are driving, stopping, or starting mining dump trucks.
In 2017, Aregger AG has partnered with Liebherr Machines Bulle S.A (Switzerland) for providing customised demolition excavator. This will widen their product portfolio.
In December, 2016 - JCB India launched seven new products at Bauma ConExpo. With the launch of these products, the company positioned itself as a full range infrastructure equipment partner. Moreover, the growing construction industry has been the major reason behind this product launch. The growing construction industry has resulted in growth of heavy construction equipment market.
In December 2018, a leading manufacturer of construction equipment, Sany India, has introduced sixteen new products including advanced excavators, truck cranes, concrete machinery, road equipment, etc.
In September 2018, John Deere, a global manufacturer of heavy equipment and lawn care equipment, has signed a supplier agreement with Wacker Neuson, German equipment manufacturer, for the development of compact excavator models to meet the growing needs of the Asia-Pacific marketplace.
In September 2018, Caterpillar, a leader in the manufacturing of Construction equipment, is eyeing on the consolidation of the Indian market with the launch of two excavator models in the country-level market.
In August 2018, China-based construction machinery company, Xuzhou, has announced the launch of a 700-ton hydraulic excavator. It also has a loader for the major salterns of South America.
Market Segmentation:
By type, the Asia-Pacific heavy construction equipment market has been segmented into earthmoving equipment, material handling equipment, heavy construction vehicles, others. The others segment is further sub-segmented into cranes, excavator, and dozer.
By application, the Asia-Pacific heavy construction equipment market has been segmented into mining & excavation, earthmoving, transportation, lifting, material handling, and others.
By end-users, the Asia-Pacific heavy construction equipment market has been segmented into oil & gas industry, construction industry, military, mining, agriculture & forestry, and others.
Regional Analysis:
The Asia-Pacific heavy construction equipment market, by region, has been segmented into India, China, Japan, and the Rest of Asia Pacific. China is expected to lead the growth of the market in Asia Pacific. The region is equipped with resources for supporting the needs of the thriving construction sector. It is poised to expedite the expansion of the Asia-Pacific heavy construction equipment market in the foreseeable future. India signifies strong growth opportunities. The supportive laws implemented by the government are forecasted to drive the growth of the Asia-Pacific heavy construction equipment market in the country.
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COMTEX_363687514/2582/2020-03-22T03:47:00
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