The heavy construction equipment market size was valued at $1,71,667.0 million in 2019, and is projected to reach $2,40,496.0 million by 2027, registering a CAGR of 4.2% from 2020 to 2027. Heavy construction equipment includes equipment and vehicle, which are specifically designed for use in various construction applications and operations such as grading, drilling, excavating, hauling, and paving. This heavy construction equipment are used by various end-user industries, including mining, oil & gas, construction, manufacturing, forestry, and infrastructure.
Trend shows that the demand for heavy construction equipment has increased within various countries in the region, especially in China and India owing to urbanization and high investment in the infrastructure segment. In addition, prominent players, such as Caterpillar Inc. and Volvo AB, are inclined toward development of efficient earthmoving machines with advance technologies and improved performance. For instance, the newly commercialized earth moving solutions, developed by Caterpillar Inc., reduce operating costs and are equipped with advanced technologies such as AccuGradeTM grade control system and computer aided earthmoving system (CAES). However, environmental concerns caused due to release of harmful gases, such as carbon dioxide and others by diesel-run machineries hamper the market growth. Furthermore, the development of low emission and fuel-efficient equipment offers lucrative growth opportunities for the market players during the forecast period. The market is segmented on the basis of equipment type, application, end user, and region. By equipment type, the market is classified into earthmoving equipment, material handling, heavy construction vehicles, and others.
The earthmoving equipment segment is sub-segmented into excavators, loaders, backhoe loaders, and motor graders. The material handling equipment segment is sub-segmented into cranes and telescopic handlers. The heavy construction vehicles segment is sub-categorized into dumpers and tippers. The others segment includes compactors and pavers. By application, the market is categorized into excavation & demolition, heavy lifting, tunneling, material handling, and recycling & waste management. By end user, it is classified as infrastructure, construction, mining, oil & gas, manufacturing, and others (forestry and agriculture).
By region, the heavy construction equipment market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominated the market in 2019, accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period. This is attributed to the increased funding by the government agencies and rise in focus to develop infrastructure in this region.
Key companies profiled in the report include AB Volvo, Caterpillar Inc., CNH, Deere & Company, Doosan Infracoe, Hitachi Machinery Construction, JCB, Komatsu, Liebherr AG, and Sany.
KEY BENEFITS FOR STAKEHOLDERS
_ The report provides an extensive analysis of the current and emerging heavy construction equipment market trends and dynamics.
_ In-depth market analysis is conducted by constructing market estimations for the key market segments between 2019 and 2027.
_ Extensive analysis of the heavy construction equipment market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
_ A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
_ The global heavy construction equipment market forecast analysis from 2020 to 2027 is included in the report.
_ The key market players within heavy construction equipment market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the heavy construction equipment industry.
GLOBAL HEAVY CONSTRUCTION EQUIPMENT MARKET SEGMENTS
BY EQUIPMENT TYPE
- Material handling
- Heavy construction vehicles
- Oil & Gas
- Excavation & Demolition
- Heavy Lifting
- Material Handling
- Recycling & Waste management
- North America
- ·Rest of Europe
- ·Rest of Asia-Pacific
- ·Latin America
- ·Middle East
- AB Volvo
- Caterpillar Inc.
- Deere & Company,
- Doosan Infracoe
- Hitachi Machinery Construction,
- Liebherr AG