Growing Construction Activities Is Escalating the Construction Equipment Market in the Asia Pacific Region!

• Vikas Kumar
• November 25, 2023
• MINING & MACHINERY, NEWS
• Construction Equipment, Construction Equipment Market, Construction Equipment Market analysis, Construction Equipment Market Forecast, Construction Equipment Market growth, Construction Equipment Market trends
• 0 Comments

The majority of Asian countries are spending substantial amounts on infrastructure that allows for growth in their developing economies. Countries like India, and China are focusing on improving connectivity and promoting sustainable growth in the region. China, India, and Southeast Asia offer a very large consumer base and low-cost workforce, with high levels of natural resources as are a few factors escalating the construction activities in Asia Pacific.

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Moreover, factors such as the growth of public-private partnerships (PPP), are characterized as a joint venture between government and private companies for the construction of public infrastructure systems in the country. Growing public-private partnerships in countries such as India, China, and other developing regions are expected to boost the growth of construction equipment sales.

• Based on equipment type, the Construction Equipment Market is bifurcated into heavy construction equipment, and compact construction equipment. Currently, the heavy construction equipment segment dominates the market and is expected to maintain its dominance throughout the forecast period. Heavy equipment is designed to offer superior performance and productivity. In addition, these equipment are effective and efficient tools that help to increase the rate of output through the work progress and reduce the overall construction costs, especially for large contracts.
• Based on product type, the construction equipment market is bifurcated into cranes, loaders, forklifts, excavators, dozers, and others. Loaders acquired a considerable share in the construction equipment market owing to their essential requirements for heavy-duty construction and mining operations. In addition, they are versatile machines that can be used to move large amounts of material quickly and efficiently.

Global Construction Equipment Market Segmentation

Market Insight, by Equipment Type

• Heavy construction equipment
• Compact construction equipment

Market Insights, by Product Type

• Defense
• Aerospace
• Medical
• Aviation
• Others

Market Insights, by Application

• Earthmoving
• Concrete Equipment
• Material Handling
• Material Processing

Market Insights, by Industry

• Oil & gas
• Construction & Infrastructure
• Manufacturing
• Mining
• Others

Market Insights, by End-User

• Commercial
• Residential
• Industrial

Market Insights, by Sales Channel

• OEMs
• Aftermarket

Market Insight, by Region

• North America
  •  U.S.
  •  Canada
  •  Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Rest of Europe
• APAC
  • China
  • Japan
  • India
  • Australia
  • Rest of APAC
• Rest of the World

Top Company Profiles

• Caterpillar Inc.
• Komatsu Ltd.
• AB Volvo
• Xuzhou Construction Machinery Group Co., Ltd.
• Zoomlion
• Deere & Company
• The Liebherr Group
• Doosan Heavy Industries Co., Ltd.
• Sandvik AB
• J C Bamford Excavators Ltd.