Southeast Asia Construction Equipment Market to Reach Volume of 85,678 Units by 2028 – Arizton

| Source: Arizton Advisory and Intelligence Arizton Advisory and Intelligence

Chicago, Feb. 07, 2022 (GLOBE NEWSWIRE) -- Southeast Asia Construction Equipment Market to Reach Volume of 85,678 Units by 2028 – Arizton

The Southeast Asia construction equipment market is expected to grow at a CAGR of over 6% during the period 2022−2028.    

Southeast Asia Construction Equipment Market – Segmentation 

  • The Southeast construction equipment market by revenue is likely to reach USD 10.7 billion by 2028.
  • Government bodies in the region are investing in several construction projects such as the relocation of Singapore Science center, redevelopment of Alexandra Hospital, and Development of metropolitan regions for Palembang, Banjarmasin, Makassar in Singapore, and other Southeast Asian countries in 2021. Therefore, these developments are expected to influence the market.
  • Large construction projects such as Changi Airport, Tuas Mega port in Singapore development of metropolitan regions for Palembang, Banjarmasin, Makassar, and Denpasar in Indonesia of worth USD 20 billion in 2021 expect to drive the demand for bulldozers and trenchers in Southeast Asia countries. The Southeast Asia other earthmoving equipment market is expected to reach USD 402.9 million by 2028.
  • In 2021, several public infrastructure projects planned such as Bicol Medical Center’s Medical Arts Building, NEDA sa Makati Property Redevelopment Project in Philippines. Similarly, several development projects, which are under progress in the Southeast Asia region. Therefore, the demand for aerial platforms expects to rise during the forecast period.

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Market Segmentation by Moving Equipment

  • Earth Moving Equipment
    • Excavator
    • Backhoe Loader
    • Motor Grader
    • Other Earth Moving Equipment
  • Road Construction Equipment
    • Asphalt Paver
    • Road Roller
  • Material Handling Equipment
    • Crane
    • Forklift and Telescopic Handler
    • Arial Platforms (articulated boom lifts, telescopic boom lifts, scissor lifts, etc)

Market Segmentation by Application

  • Construction
  • Manufacturing
  • Mining
  • Others

Market Segmentation by Countries

  • Indonesia
  • Thailand
  • Singapore
  • Philippines
  • Malaysia
  • Vietnam

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Key Highlights  

  • Southeast construction equipment market is expected to grow significantly at a CAGR of 6.37% during forecast period (2022-2028) with high demand for excavator in earthmoving segment due to high infrastructure and transport development projects in the pipeline.
  • In 2021, the economic recovery among Southeast Asian countries was highly affected by the decline in the tourism sector. The Asian Development Bank’s survey revealed that the Southeast Asia tourism industry experienced a GDP loss of 8.4% in 2021.
  • The overall economic recovery in the region is estimated to be slower than other developing countries in Asia. This slow recovery is primarily due to new waves of COVID pandemic that will impact international cross border trade and tourism industry in the region.
  • However, Governments’ investment in development of public infrastructure such as roads, airports, seaports, and the increasing demand for energy expect to offer strong growth opportunities in the construction equipment market in the region.
  • Countries such as Indonesia, Philippines and Thailand are expected to experience significant urbanization growth, which will drive the demand for infrastructure development in these countries.
  • Investments in renewable energy projects have risen across the region. Countries such as Singapore, Indonesia, and the Philippines are planning to increase renewable energy generation capacity by 2030. For instance, in Singapore, the grid-connected installed capacity rose to 376.9 MWp in 2020, with a total of 4,067 solar PV installations. This was a sharp increase from 2019, when the capacity was 262.4 MWp, with only 3,173 PV systems installed. Similarly, in Indonesia, government has regulated the implementation of rooftop panels since 2018. Solar projects are targeted to reach an installed capacity of 3.6 GW by 2025.
  • Several mega infrastructure project such as Jakarta-Bandung & Jakarta – Surabaya high-speed rail project, Jakarta MRT (Mass Rapid Transit), and Jakarta LRT project in Indonesia, Earth North-South Expressway Sections in Vietnam, East Cost Rail link and Penang Transport Master plan in Malaysia are in the pipeline.
  • Caterpillar, Komatsu, Volvo Construction Equipment, Hitachi Construction machinery, and JCB hold more than 55% of market share in construction equipment market across Southeast Asian region.
  • SANY, XCMG, LiuGong, Yanmar, Kubota, Kobelco, Sumitomo, Hyundai Construction equipment are other prominent vendors in southeast Asian construction equipment market.

  

Key Offerings:  

  • Market Size & Forecast by Volume | 2022−2028 
  • Market Size & Forecast by Value | 2022−2028 
  • Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities 
  • Market Segmentation – A detailed analysis by type, application, and countries
  • Competitive Landscape – 10 major vendors, 4 other prominent vendors, and 3 distributors profile

Why Should You Buy this Report? 

This report is among the few in the market that offers outlook and opportunity analysis forecast in terms of:

  • Volume (Unit sales)
    • Type
    • Application
    • Countries
  • Value (USD)     
    • Type
    • Application
    • Countries
  • Gain competitive intelligence about the economic scenario, advantages in Southeast Asia countries major projects and investments, dynamics, and market share.
  • Examples of the latest technologies.
  • Get presentation-ready format and easy-to-interpret data.
  • Enable decision-makers to make informed and profitable choices
  • Gain expert quantitative and qualitative analysis on value/volume growth projections of the Southeast Asia construction equipment market share
  • Complete supply chain analysis
  • Get COVID-19 impact analysis of the market
  • Company Profile of 19 vendors and distributors

Southeast Asia Construction Equipment Market – Competitors Analysis

Caterpillar launches its new next-generation large excavator in the Singapore market. The company launches large excavators CAT 352, 374, and 395 to increase their presence in the Southeast Asia construction equipment market.

Liebherr are working on multiple digitization and sustainability projects in a systematic manner. On an ex-works basis, 2D and 3D machine control systems will be implemented in Liebherr's sixth and eighth generation mobile and crawler cranes to create competitive environment across the industry.

SANY Group strategizes to increase value for customers through its brand, products, marketing, and services and will continue to defend its position in the highly competitive international market. Moreover, SANY launches SY27U, a 2.75-ton mini excavator, specially designed for slurry terrains. It is equipped with an advanced remote management system (EVI) to strengthen its foot in the construction equipment market.

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Major Vendors

  • Caterpillar
  • Komatsu
  • Hitachi Construction Machinery
  • Kobelco
  • Volvo Construction Equipment
  • Kubota
  • Liebherr
  • JCB
  • Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
  • SANY Group

Other Prominent Vendors

  • Sumitomo Heavy Industries
  • Yanmar Holdings Co
  • Zoomlion Heavy Industry
  • LiuGong

Distributor’s Profiles

  • TAT Hong
  • United Tractor
  • Multicranes Perkasa (MCP)

Target Audience  

  • Top-level management personnel of existing operators/vendors
  • Potential new entrants to the market
  • Consultants/consultancies/advisory firms
  • Professional landscaping service providers/contractors
  • Corporate and governments bodies

Explore our industrial machinery profile to know more about the industry.  

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