New York, NY, March 22, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Heavy Construction Equipment Market by Type (Earthmoving, Material Handling, Heavy Construction Vehicles, and Others), by Application (Excavation & Demolition, Heavy Lifting, Tunneling, Transportation, Recycling & Waste Management, and Material Handling), and by End-User (Construction & Manufacturing, Public Work & Railroad, Oil & Gas, Mining, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global heavy construction equipment market was valued at USD 145 billion in 2018 and is expected to reach USD 231.3 billion by 2025, at a CAGR of 6.9% between 2019 and 2025.
Heavy construction equipment is widely used in the construction industry for various applications, such as transportation, excavation, material handling, etc.
Browse through 105 Tables & 33 Figures spread over 110 Pages and in-depth TOC on “Global Heavy Construction Equipment Market Size, Share Trends, Segments, Growth Analysis & Forecast, 2018–2025”.
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The global heavy construction equipment market is expected to grow significantly within the next few years, owing to the rising product demand from various industries, such as construction, mining, and oil and gas. Moreover, rapidly growing infrastructural activities in emerging countries, such as China, Japan, India, South Korea, and Brazil, are also projected to propel the heavy construction equipment market in the years ahead. However, strict government regulations on heavy construction equipment may hinder the market progress in the future. Alternatively, the increasing investments and government support for construction and infrastructure are anticipated to offer lucrative opportunities for the heavy construction equipment market in the future.
The global heavy construction equipment market is classified based on type, application, and end-user industry. By type, the global heavy construction equipment includes material handling, heavy construction vehicles, earthmoving, and others. The earthmoving segment is held the largest market share in 2018, owing to the rising demand for earthmoving in various industries like mining, construction, and oil and gas.
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Moreover, the material handling segment is expected to grow at the fastest pace in the upcoming years. By application, the market is segmented into heavy lifting, excavation and demolition, transportation, recycling and waste management, tunneling, and material handling. The excavation and demolition segment contributed the largest share toward the global heavy construction equipment market in 2018 and is likely to dominate in the upcoming years as well. By end-user industry, the market includes construction and manufacturing, public work and railroad, oil and gas, mining, and others. In 2018, the construction and manufacturing segment dominated the global market and is anticipated to continue its dominance in the future as well.
Regionally, Asia Pacific contributed the largest share to the global heavy construction equipment market in 2018 and is anticipated to lead the market in the future as well. The growing residential and commercial construction activities in India have propelled the demand for heavy construction equipment in the region. Moreover, China is expected to dominate this regional market in the future, owing to the upgradation of the country’s transportation infrastructure by the Chinese government through projects like the national high-speed railway and the 7918 Network. Thus, the rail infrastructure is projected to steer the region’s heavy construction equipment market.
Browse the full “Heavy Construction Equipment Market by Type (Earthmoving, Material Handling, Heavy Construction Vehicles, and Others), by Application (Excavation & Demolition, Heavy Lifting, Tunneling, Transportation, Recycling & Waste Management, and Material Handling), and by End-User (Construction & Manufacturing, Public Work & Railroad, Oil & Gas, Mining, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/heavy-construction-equipment-market
North America was the second leading market for heavy construction equipment in 2018 and is anticipated to grow considerably over the forecast time period. The U.S. is expected to be the largest contributor to the region, due to the growing demand for residential construction activities. Moreover, in recent years, the real estate sector witnessed the highest growth in various cities of the U.S. like Austin, Seattle, Dallas, and Fort Lauderdale. This will propel the region’s infrastructural development activities, thereby, driving the regional market’s growth.
Europe is expected to grow significantly in the upcoming years, owing to the increasing number of technologically advanced construction equipment and proliferation in the number of manufacturers. Moreover, France, Germany, and Italy are expected to witness the highest growth rates due to the growing number of construction projects, such as underwater tunnel connecting major European countries, port extension, and railway tunnels.
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Rapid industrialization in Latin America is one of the major factors driving the region’s heavy construction equipment market. The region’s flourishing construction industry is likely to increase the demand for heavy construction equipment. Additionally, the investments for the development of roadway infrastructure are estimated to fuel the region’s heavy construction equipment market. Additionally, the government of Argentina is planning to develop new road construction projects across the country, which is projected to enhance the demand for heavy construction equipment in this construction sector.
The Middle Eastern and African heavy construction equipment market is projected to grow significantly, owing to the increasing demand for heavy construction equipment in the oil and gas industry. Moreover, the major countries of the Middle East, such as the UAE and Saudi Arabia, are focusing on developing healthcare and tourism sectors. This, in turn, will generate the need for robust infrastructure, thereby driving the region’s heavy construction equipment.
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Some key players of the global heavy construction equipment market are J C Bamford Excavators Ltd., AB Volvo, Hitachi Construction Machinery Co. Ltd., Caterpillar, Inc., Komatsu Ltd., Doosan Infracore Co. Ltd., Hyundai Heavy Industries Co. Ltd., Liebherr Group, Terex Corporation, Sany Heavy Industries Co. Ltd., Deere & Company, Xuzhou Construction Machinery Group Co. Ltd., and Shandong Heavy Industry Group Co. Ltd., among others.
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This report segments the global heavy construction equipment market into:
Global Heavy Construction Equipment Market: Type Analysis
- Earthmoving
- Material Handling
- Heavy Construction Vehicles
- Others (Pavers/Asphalt Finishers/Compactors and Road Rollers)
Global Heavy Construction Equipment Market: Application Analysis
- Excavation and Demolition
- Heavy Lifting
- Tunneling
- Transportation
- Recycling and Waste Management
- Material Handling
Global Heavy Construction Equipment Market: End-User Industry Analysis
- Construction and Manufacturing
- Public Work and Rail Road
- Oil and Gas
- Mining
- Others (Forestry and Agriculture and Military)
Global Heavy Construction Equipment Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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