The global construction equipment market has witnessed slow growth in the last five years. In China, the sales of construction equipment have fallen from a peak of 430,000 units in 2011 to approximately 140,000 machines in 2015, and the same was observed in several other countries. The fall in sales was due to the slowing world economic growth and weak commodity prices. The factors driving the growth of the global market include continuous infrastructure developments, which increases the demand for construction equipment.
The huge demand for heavy construction equipment from emerging economies is an opportunity witnessed in the global market. The major restraints in the market include high cost of heavy construction equipment.
To Browse Full Report Visit Here: https://www.psmarketresearch.com/market-analysis/construction-equipment-market
Construction equipment is specially designed machinery used for construction operations. Construction equipment is used for functions including hauling, drilling, paving, excavating and grading. The types of construction equipment used include earthmoving equipment, material handling equipment, and heavy construction vehicles and equipment. Some of these equipment include articulated dump trucks, crawler loaders, mini excavators, asphalt finishers, backhoe loaders, crawler dozers, motor graders, crawler excavators, rigid dump trucks, rough terrain lift trucks and others. The market is growing, due to increase in construction of buildings, roads, healthcare centers, institutes and other infrastructure.
Asia-Pacific is currently the largest market for construction equipment and is estimated to grow at a high rate during the forecast period. The growing industrial activities and swift residential & commercial development, along with increased investment of government in the infrastructure sector is expected to lead to an overall increase in the growth of the global construction equipment market. The economic growth and increased spending on infrastructural activities has played a huge part in providing the necessary boost to the growth of the global construction equipment industry. The earthmoving equipment is the fastest growing segment in the heavy construction equipment market across the globe.
Browse For Related Research Visit Here: https://www.psmarketresearch.com/industry-report/chemicals-and-materials
The major players operating in the global construction equipment market include Caterpillar Inc., CNH Industrial, Hyundai Heavy Industries Co. Ltd., Hitachi Construction Machinery Co. Ltd., Volvo Construction Equipment, J.C. Bamford Excavators Limited (JCB), Komatsu Ltd., Liebherr Group, Kobe Steel Ltd. (Kobelco), and Deere & Company.
Global Construction Equipment Market Segmentation
- Earth moving
- Excavation & Demolition
- Heavy Lifting
- Material Handling
- Recycling & Waste Management
- Oil & Gas
- Forestry & Agricultural
About P&S Market Research
P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research based consulting services across different industry/business verticals.
As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.
Manager – Client Partner
347, 5th Ave. #1402
New York City, NY – 10016
Toll-free: +1-888-778-7886 (USA/Canada)