Heavy Construction Equipment Market Analysis Report By Product, By Application And Segment Forecasts From 2017 To 2025

Report ID: MN17619740  |  Published: May 2020  |  No of Pages: 96
Format: Electronic (PDF)  |  Industry: Heavy Machinery

Industry Insights

The global heavy construction equipment market size was accounted for USD 55.9 billion in 2016. This growth can be attributed to rising investments across the infrastructure sector during the forecasted years, 2017 to 2025. Thus, the demand for such equipment is expected to surge up due to the increasing number of construction activities across the globe.

The construction sector across the U.S. has witnessed slightly declining demand for the last few years. Even though this slowdown has occurred, the spending on private construction activities which belong to non-residential type surged from 267 Billion USD to 400 Billion USD from 2010 to 2016. Moreover, the steady investment being made in infrastructure activities is expected to drive market growth in the upcoming years.           

U.S. heavy construction equipment market

The sector of construction has witnessed a steady growth rate in 2017 due to the rising demand across the residential segment. The unit sale of the residential segment across the U.S. had increased by 9,675 from 2016 to 2017. The rising real estate sector across developed cities like Austin, Seattle, and Dallas is expected to boost the infrastructure activities thereby driving the demand for heavy-duty construction equipment market.

However, declining exports of this equipment are expected to hinder the market growth. As per the study of The Association of Equipment Manufacturers, the export of such machinery and equipment across the U.S. witnessed a decrease of around 17% from 2013 to 2014. In the Asia Pacific, the decline from 2011 to 2015 was around 38%. Despite these hardships, the majority of Chinese manufacturers like SANY and XCMG stood still and continued their dominance.

Product Insights

The segment of earthmoving machinery held the largest share across the global market from 2017 to 2025. This demand is being generated by several developing countries like Malaysia, Indonesia, and India due to their increasing focus on improvement of infrastructure facilities. For example, the Malaysian government had inaugurated project named East Coast Rail Link with a motive for connecting the western and eastern regions.

The concrete and road machinery segment held a share of 18.9% across the global market in 2016. It includes a variety of equipment like rollers, transit mixers, and asphalt pavers which are widely being used for transporting and handling concrete material. Rising numbers of projects being undertaken for road construction are expected to drive the market demand for such products. For example, the investment being made in road construction in the U.S. has surged from USD 91.0 Billion to USD 99.0 Billion from 2016 to 2020.

Application Insights

In 2016, the infrastructure application segment held the largest share of 49.9% across the global heavy construction equipment market. This growth can be attributed to the rising urbanization across the globe due to the rising demand for excellent transportation systems. As the majority of the countries are planning to develop their infrastructure, the demand for construction equipment is expected to surge up during the forecasted years.

The emerging concept of affordable housing is also expected to boost the demand for construction equipment. In order to promote this concept, various statutory governing bodies have started providing incentives and low-interest loans. Thus, the demand of houses is increasing among people with low or medium-income levels. Moreover, the rising limitation for horizontal expansion of houses owing to land limitation is expected to fuel up the demand for tall buildings with a large number of floors.

Regional Insights

The Asia Pacific is expected to dominate the market of heavy construction equipment from 2017 to 2025. It is anticipated to boost its market share from 39.4% from 2016 to 43.9% until 2025. This growth can be attributed to the increasing infrastructure industry across developing countries like China and India.

Global heavy construction market

The market across Central and South America is anticipated to witness the significant growth rate in the upcoming years. This growth can be associated with huge investments being made for the roadway construction. For example, the Argentina government is planning various road construction projects that cost approximately USD 16.7 billion.

COVID-19 Impact Insights

The growth of the heavy construction equipment market has been hampered across the globe owing to the ongoing COVID-19 crisis. This can be associated with the shifting priority of several governments from the development of infrastructure to the health sector. Also, economic instability is leading to delays or cancellations of several infrastructure projects. Moreover, the imposition of lockdown and travel restrictions by statutory governing bodies has resulted in a lack of skilled labor availability. Also, preference over the repair and reuse of old construction equipment is rising among construction contractors. These factors are also expected to hinder the market growth for heavy construction equipment over the post-pandemic period. However, rapid technologies being undertaken by the key players for product development are expected to trigger market growth to some extent in the upcoming years.

Heavy Construction Equipment Market Share Insights

The key players in this market are Komatsu Ltd., Caterpillar, SANY Group, Doosan Bobcat, AB Volvo, and Liebherr. These players are constantly engaged in product development, innovation, and quality improvement. The regional players are creating joint ventures with the global players to gain competitive advantage and to penetrate deeper into the emerging markets.

For example, the Uralmash Machine-Building Corporation has created a joint venture with SRB Group for producing construction equipment. Moreover, large numbers of Chinese manufacturers have also started entering the construction equipment market. These players are capitalizing on the infrastructure projects that are being funded by the governments to expand their global presence. For example, in 2012, Liugong Machinery Co. Ltd. had gained acquisition over Dressta.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation

Market revenue in USD Million & CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, CSA, and Middle East & Africa

Country Scope

U.S., Canada, U.K., Germany, Japan, China, India, UAE, and Brazil

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2014 to 2025 in each of the sub segments. For the purpose of this study, Million Insights has segmented the global heavy construction equipment market report based on product, application, and region:

• Product Outlook (Revenue, USD Million, 2014 - 2025)
    • Earth Moving Machinery
    • Material Handling Machinery
    • Concrete & Road Machinery
    • Others

• Application Outlook (Revenue, USD Million, 2014 - 2025)
    • Infrastructure
    • Real Estate
    • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • Japan
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa
        • UAE

What questions do you have? Get quick response from our industry experts. Request More information
Key questions answered in the report include
key questions
We also offers customization on reports based on specific client requirement.
Request for Customization

Choose License Type

Research Assistance

Ryan Manuel
Ryan Manuel

Research Support Specialist, USA

  1. Phone: +1-408-610-2300
  2. Toll Free: +1-866-831-4085
  3. Email: [email protected]
Connect With Expert
  • World's largest premium report database
  • Transparent pre & post sale customer engagement model
  • Unparalleled flexibility in terms of rendering services
  • Safe & secure web experience
  • 24*5 Research support service

Get a Free Sample

FREE sample contains market data points, ranging from trend analyses to market estimates & forecasts. See for yourself...