Dallas, TX (PRWEB) July 04, 2013
Heavy construction equipment is a critical tool for construction activities. They form the backbone of any construction project by reducing human effort and time. Heavy construction equipment has contributed to the rapid development of infrastructure for the development of economies globally. Heavy construction equipment comes in different types that include Earth moving equipment (Excavators, Loaders, Backhoe, Graders/Motor Graders, and Others), Material handling equipment (Cranes, Telescopic Handlers, and Others), Construction vehicles (Dumpers, Tippers), and other heavy construction equipment (Compactors & Road Rollers, Pavers/Asphalt Finishers, and Others). Heavy construction equipment grows at a steady pace globally due to increasing population, technological developments, and infrastructural developments in emerging markets.
The global heavy construction market is segmented on the basis of their application areas that include infrastructure, commercial buildings, and residential buildings. Secondly, the global heavy construction market is also segmented on the basis of types of equipment such as earthmoving equipment, material handling equipment, heavy construction vehicles, and other heavy construction equipment. Lastly, the market is segmented on the basis of regions such as Asia-Pacific, Europe, North America, South & Central America, and Rest of the World (ROW). Each segment has been analyzed with respect to its market trends, growth trends and future prospects. The data has been analyzed from 2011 to 2018, and all quantitative data regarding segmentation is mentioned in terms of value ($million).
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Huge market with estimated global revenue of $195.0 billion by 2018
The global heavy construction equipment market is expected to reach $195.0 billion by 2018, growing at a CAGR of 8.3% from 2013 to 2018. The critical factors responsible for growth of the heavy construction equipment market include a continuous increase in demand for new infrastructure, increase in the demand for residential buildings due to growing population, high construction and public infrastructural growth especially in emerging markets. The key concerns in the industry pertain to the high cost of heavy construction equipment.
The heavy construction equipment market is also analyzed with respect to Porter’s five force model. Different market forces such as bargaining power of suppliers, bargaining power of buyers, degree of competition, and threat from substitutes and new entrants are analyzed with respect to the heavy construction equipment industry. The report also provides a competitive landscape of major market players with its developments, mergers & acquisition, expansion & investments, agreements & contracts, new services & technologies developments, and others. A number of these developments are spotted by key industry players that suggest the growth strategy of these companies as well as of the overall industry.
The report classifies and defines the revenue for the heavy construction equipment industry. It covers qualitative data of different types of equipment used in various applications. The report also provides a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, and key burning issues in the heavy construction equipment market. Key players in the industry are profiled in detail with their recent developments. Some of these include companies such as Caterpillar (U.S.), Komatsu (Japan), JCB (U.K.), Hitachi Construction Machinery Co. Ltd (Japan), Volvo Construction Equipment (Sweden) and John Deere & Co. (U.S.).
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