San Jose, California (PRWEB) August 08, 2014
Follow us on LinkedIn - Demand and supply dynamics of construction equipment are closely linked to activity in the building construction, infrastructure development and surface mining sectors. The resurgence in housing, non-residential and infrastructure construction is therefore re-energizing the global construction equipment and building machinery market. Rapid urbanization in developing countries and the emergence of megacities in developed economies represent mega trends creating growth opportunities for construction machinery manufacturers. The outlook for the construction equipment rental market remains positive owing to revival in non-residential construction activity, across the world. The need to replace ageing fleets and upgrade to new technologies continues to drive demand for construction and building machinery in developed economies.
Renovation of old buildings and structures, and the strong government push to build green residential and non-residential structures is expected to propel sales of construction equipment in advanced economies. Replacement demand is also expected to remain a significant driving force for the European and North American markets owing to the need among contractors and equipment rental companies to replace ageing fleets, as well as acquire technologically advanced and customized machinery that optimizes operator productivity. Ongoing post-tsunami reconstruction activity is a major short-term growth driver for the Japanese construction equipment market. Further, global sporting events will continue to fuel demand for advanced machinery in countries such as Japan, Brazil, Russia and Qatar.
Following a weak spell in commodity markets, mining activity is expected to regain momentum, driven by rising demand for mineral and metal commodities, particularly in Asia-Pacific, with positive outcomes for the surface mining machinery market. Replacement and aftermarket needs represent a key revenue generator for the segment, while demand for new mining machinery tends to be cyclical.
While construction equipment manufacturers in China benefitted from the surge in infrastructure investments in recent years, the region currently faces increased competitive pressure and a challenging business environment. Saddled with overcapacity and weaker domestic demand, Chinese OEMs are increasingly looking overseas, and thereby emerging as strong competition for international players in emerging as well as developed markets. Brazil, India and Indonesia are also emerging as major OEM hubs for construction machinery.
As stated by the new market research report on Construction Equipment, Asia-Pacific represents the largest market worldwide. The region also ranks as the fastest growing market with a CAGR of 6.0% over the analysis period spearheaded by China and India. Wheeled Loaders constitutes the largest product market in China. Crawler Excavators represents the fastest growing market in the country driven by its greater efficiency and extensive usage in construction and mining industries.
Major players covered in the report include Atlas Copco AB, Caterpillar Inc., CNH Global NV, Deere & Co., Dingsheng Tiangong Construction Machinery Co. Ltd., Doosan Infracore Co. Ltd., Hitachi Construction Machinery Co. Ltd., J C Bamford Excavators Ltd., JLG Industries Inc., Kobelco Construction Machinery Co. Ltd., Komatsu Ltd., Kubota Corporation, Liebherr Group, Lonking Holdings Limited, Manitou Group, Sandvik AB, SANY Group Co. Ltd., Shantui Construction Machinery Co. Ltd., Sumitomo Heavy Industries Ltd., Terex Corporation, Xuzhou Construction Machinery Group Co. Ltd., Xuzhou Heavy Machinery Co. Ltd., and Zoomlion Heavy Industry Science & Technology Development Co. Ltd., among others.
The research report titled “Construction Equipment: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, challenges, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections across all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World. Product segments analyzed include Wheeled Loaders, Mini Excavators, Crawler Excavators, Skid Steer Loaders, Backhoe Loaders, Rough Terrain Lift Trucks, Crawler Dozers, Articulated Dump Trucks, Motor Graders, and Others, based on consumption patterns in each regional market.
For more details about this comprehensive market research report, please visit http://www.strategyr.com/Construction_Equipment_Machinery_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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