The global heavy construction equipment market size is anticipated to reach USD 90.4 billion by the end of 2025. It is anticipated to register growth with a CAGR of 5.4% during the forecasted period, 2017 to 2025. This growth can be associated with increasing number of construction activities across the globe. Moreover, the steady investment being made for infrastructure development across the urban cities is expected to further fuel up the market growth in the upcoming years.
The earthmoving machinery held the largest share across the global market and is expected to continue its dominance over the forecasted period due to risingfocus of governments to improve infrastructure facilities. In 2016,the segment of concrete and road machinery held a share of 18.9% across the global market.
The infrastructure application segment held the largest share of 49.9% across the global market in 2016 due to rising urbanization across the globe coupled with surging demand for excellent transportation systems. On the other hand, the real estate segment is anticipated to register the fastest growth with a CAGR of 6.3% during the forecasted period, due to the emerging concept of affordable housing.
Asia Pacific is expected to dominate the heavy construction equipment market with surging share from 39.4% from 2016 to 43.9% until 2025 owing to increasing construction activities across developing countries like China and India. Central and South Americais anticipated to witness the significant growth from 2017 to 2025 owing to huge investments being made for the roadway construction.
The market for heavy construction equipment includes key players such as Komatsu Ltd., Caterpillar, SANY Group, Doosan Bobcat, and AB Volvo. They are engaged in product development, innovation, mergers, acquisitions, and creating joint ventures with other players to improve their market reach and to widen their product portfolio. For example, the Uralmash Machine-Building Corporation established a joint venture with SRB Group.
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Further key findings from the report suggest:
• The earthmoving machinery held the largest share across the global market and is anticipated to generate around USD 36.6 Billion by the end of 2025.
• The segment of real estate is anticipated to register fastest growth with a CAGR of 6.3% due to the emerging concept of affordable housing across the globe.
• Asia Pacific is expected to register highest CAGR of 6.6% across the global market by 2025 owing to increasing construction activities across developing countries like China and India.
• The key players in the heavy duty construction equipment market are Komatsu Ltd., Caterpillar, SANY Group, and Doosan Bobcat.
Million Insights has segmented the global heavy construction equipment market on the basis of product, application and region:
Heavy Construction Equipment Product Outlook (Revenue, USD Million, 2014 - 2025)
• Earth Moving Machinery
• Material Handling Machinery
• Concrete & Road Machinery
Heavy Construction Equipment Application Outlook (Revenue, USD Million, 2014 - 2025)
• Real estate
Heavy Duty Construction Equipment Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa