Technological developments have resulted in the usage of advanced machinery and equipment in construction works. Construction equipment are machineries designed to perform multiple tasks in construction operations such as excavating, paving, drilling, hoisting, hauling and grading. Construction equipment includes graders, scrapers, stone crushers, pavers, excavators, construction tractors, rollers, forklift trucks, conveyors and compactors.
On the basis of type, Global construction equipment market can be segmented into cranes, excavators, loaders, dozers and others. Application wise, the construction equipment market is divided into lifting & material handling, road & concrete, excavation & mining, earthmoving equipment and others. The earthmoving equipment holds the largest share in the overall construction equipment market, owing to the high demand for equipment such as cranes and loaders. The earthmoving equipment can be further divided into excavators, loaders, construction tractors and others.
Construction equipment market is witnessing increasing adoption of automation technology. Necessity to improve product quality and productivity along with ensuring labour safety are the key factors driving the market for automated material handling equipment. Automated material handling equipment also help to reduce operating cost, labour cost and manufacturing time. The different types of automated material handling equipment include robotic systems, automated storage retrieval systems, automated guided vehicle system and sortation & conveyor systems. The global automated material equipment market is restrained by high maintenance cost, high capital expenditure and a shortage of skilled labour.
Major factors driving the global construction equipment market are growing infrastructural activities, rising expenditure on construction activities and increased government investment in infrastructure sector. However, unpredicted raw material prices, uncertain economic conditions, stringent emission control norms and ever changing customer expectations are some of the major challenges related to the market.
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