Asia-Pacific Heavy Construction Equipment Market Growth Drivers, Regional Outlook, Size, Share, Top Manufactures, Trends and Forecast 2030

Asia-Pacific Heavy Construction Equipment Market Research Report and Growth Analysis 2023 By Types (Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, Others (Cranes, Excavator, Dozer)), By applications (Mining & Excavation, Earthmoving, Transportation, Lifting, Material Handling, Others), end-users (Oil & Gas Industry, Construction Industry, Military, Mining, Agriculture & Forestry and Others) – Forecast to 2030

Asia-Pacific Heavy Construction Equipment Market Overview

According to market research future insights analysis, the global asia-pacific heavy construction equipment market is expected to register a CAGR of ~ 8.45 % from 2022 to 2030 and hold a value of over ~ 96.67 billion by 2030.

Due to factory closures, lockdowns, and trade restrictions during the COVID-19 pandemic in 2020, the Asia-Pacific Construction Equipment Market experienced a sharp decline. The building industry’s slowdown and manpower shortage also heavily influenced the market. The industry regained its pace as construction and infrastructure companies started operating again as a result of slowly increasing building activities across key countries by the first half of 2021. Long-term factors driving demand in the automotive and transportation sectors include rising demand for construction equipment like excavators, backhoe loaders, and road machinery, increasing investments in production capacity by major industry players, massive government spending on infrastructure, electrification of the equipment, and growing urbanization. Key market players are increasing their production capacity and introducing new products to meet the increased demand for construction equipment.

Key Players

Some key market players are,

• Volvo Construction Equipment
• Kobe Steel Ltd. (Kobelco)
• Caterpillar Inc.
• C. Hitachi Construction Machinery Co. Ltd.
• Bamford Excavators Limited (JCB)
• Doosan Heavy Industries & Construction
• Komatsu Ltd.
• Liebherr Group
• CNH Industrial
• Atlas Copco and others.

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For instance, Sany Heavy Industry began operations at their first manufacturing site in Indonesia in August 2022 with the introduction of the SY315CKD excavator made in-country. The region’s growth is projected to be fueled by the advent of online retail outlets, the accessibility of machines for rent, increased public spending in infrastructure development and increased capital investments. Like other governments, the Chinese government invests in residential construction projects, renewable energy projects, and public infrastructure, raising the need for construction equipment. Following China, the largest market is projected to be India, Indonesia, Japan, and South Korea. Mega projects now under construction in China require the relocation of tonnes of equipment and supplies from one region of the nation to another.

Asia-Pacific Heavy Construction Equipment Market Segmentation

The Asia-pacific heavy construction equipment market has been segmented into type, application, and end user.

Based on product type, the market has been segmented into earthmoving equipment, material handling equipment, heavy construction vehicles, and others. The earthmoving equipment segment accounted for the largest share of the market in 2021. The demand for products is mostly met by developing nations like India, Malaysia, and Indonesia. To encourage economic growth, these nations have made investments in the construction of transportation infrastructure, mostly using earthmoving equipment. On the other hand, the material handling equipment segment was the fastest-growing segment during the forecast period. Material handling equipment is anticipated to be in constant demand due to the construction of high-rise buildings. High-rise building construction frequently uses material-handling equipment like cranes, dumpers, forklifts, and telescopic handlers.

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Based on application, the market has been segmented into infrastructure, real estate, and others. Infrastructure accounted for the largest revenue share in 2021 in the Asia-pacific heavy construction equipment market. Global demand for better transportation infrastructure has increased due to increased urbanization. The infrastructure sector is anticipated to expand rapidly throughout the projection period as nations create plans to satisfy this demand, with most of the demand coming from nations like China and India. Real estate was the fastest-growing segment. The inability to expand horizontally due to the scarcity of available land has compelled developers to use high-rise building construction methods.

Based on end-user, the market has been segmented into the oil & gas industry, construction, military, mining, agriculture & forestry, and others. The construction industry segment accounted for the largest revenue share in 2021 in the market for Asia-pacific heavy construction equipment. This is attributed to a rising due to the large-scale undertaking of construction road projects and logistical corridors. Mining was the fastest-growing segment. Owing to the increase in mining activities across the globe.

1 INTRODUCTION

1.1 DEFINITION

1.2 SCOPE OF THE STUDY

1.2.1 RESEARCH OBJECTIVE

1.2.2 ASSUMPTIONS

1.2.3 LIMITATIONS

1.3 MARKET STRUCTURE

2 RESEARCH METHODOLOGY

2.1 RESEARCH PROCESS

2.2 PRIMARY RESEARCH

2.3 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3ASIA-PACIFIC HEAVY CONSTRUCTION EQUIPMENT INDUSTRY: OVERVIEW

3.1 INTRODUCTION OF HEAVY CONSTRUCTION EQUIPMENT

3.1.1 DEFINITION OF HEAVY CONSTRUCTION EQUIPMENT

3.1.2 MARKET SEGMENTATION OF HEAVY CONSTRUCTION EQUIPMENT

3.1.2.1 MARKET SEGMENTATION ON THE BASIS OF TYPES

3.1.2.2 MARKET SEGMENTATION ON THE BASIS OF APPLICATION

3.1.2.3 MARKET SEGMENTATION ON THE BASIS OF END USER

4 MARKET DYNAMICS

4.1 DRIVERS

4.1.1 RISING DEMAND FOR CONSTRUCTION EQUIPMENT

4.2 RESTRAINTS

4.2.1 HIGH COST OF CONSTURCTION EQUIPMENTS

4.3 OPPORTUNITIES4.3.1 GLOBAL REACH

4.4 MEGA TRENDS4.4.1 RISE IN DISPOSABLE INCOME

4.5 MACROECONOMIC INDICATORS

4.6 TECHNOLOGICAL ADVANCEMENT/ INDUSTRY UPDATES

4.7 IMPORTANT POINTERS BY INDUSTRY EXPERTS

4.7.1 ASIA-PACIFIC AS FASTEST GROWING MARKET

4.7.2 GROWTH PROSPECTS4.7.3 EARTHMOVING AS WIDELY USED EQUIPMENT

4.7.4 INFRASTRUCTURE AND HEAVY CONSTRUCTION EQUIPMENT

4.7.5 CHIEF PLAYERS IN ASIA-PACIFIC AND NEW PRODUCT LAUNCH

Continue…

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