Asia-Pacific Heavy Construction Equipment Market Reach Around USD 96.67 Billion Registering CAGR of 8.45% till 2030 | MRFR Latest Brief 2022
Research Reports
Oct 27, 2022
Asia-Pacific Heavy Construction Equipment Market Research Report and Growth Analysis 2022 By Types (earthmoving-equipment-market-2205′>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
The Asia-Pacific Heavy Construction Equipment Market will obtain a CAGR of 8.45% and a valuation of USD 96.67 billion by 2020-2030 in the forecast period.
The rise in construction and huge project activities across the Asia-Pacific region is driving the market. The growing demand for cost-effective heavy machines and regulatory pressures for lower emissions is accelerating the market size. Moreover, to combat major issues such as growing population demand, traffic congestion, and aging transportation infrastructure, the countries of Asia-Pacific have started investing highly in infrastructure development. Also, the increased urbanization rate has led to building construction. Industrial infrastructure development, renovation, and restoration are promoting the Asia-Pacific Heavy Construction Equipment Market demand. The presence of these growth factors and drivers is boosting the sales rate of the market.
Key Players
- Volvo Construction Equipment
- Caterpillar Inc.
- C. Bamford Excavators Limited (JCB)
- Hitachi Construction Machinery Co. Ltd.
- Komatsu Ltd.
- Doosan Heavy Industries & Construction
- Liebherr group
- CNH Industrial
- Kobe Steel Ltd. (Kobelco)
- Atlas Copco and Others.
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Japan is showing an extensive growth rate which has lost its dominance to China in the forecast period. The market in India is also showing considerable growth with the rising construction activities. Apart from the countries’ development, the segments also noticed extensive growth due to the usage of various equipment. There was a higher adoption of earthmoving machinery, like excavators and loaders, in building construction, fuelling the Asia-Pacific Heavy Construction Equipment Market. These machines have functional benefits, such as high quality, higher project efficiency, and cost efficiency. These benefits bring great opportunities for the market in the forecast period.
Asia-Pacific Heavy Construction Equipment Market Segments
The Asia-Pacific Heavy Construction Equipment Market is segmented into types, applications, and end-users.
The type segment of the market is categorized into equipment such as earthmoving equipment, heavy construction vehicles, material handling equipment, and others. The other segment includes cranes, excavators, and dozers.
The application segment of the Asia-Pacific Heavy Construction Equipment Market comprises mining & excavation, lifting, earthmoving, transportation, material handling, and others.
The end-users segment constitutes the construction industry, agriculture & forestry, military, mining, oil & gas industry, and Others.
Report Scope:
|
Report Metrics |
Details |
|
Market Size |
2030: USD ~ 96.67 Billion |
|
CAGR |
8.45% CAGR (2022-2030) |
|
Base Year |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Data |
2019 & 2020 |
|
Forecast Units |
Value (USD Million) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Key Market Opportunities |
Government initiatives for various services like education, healthcare, public transport, infrastructure and other facilities |
|
Key Market Drivers |
Increase in Demand of construction equipment Development of infrastructure |
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Asia-Pacific Heavy Construction Equipment Market Regional Analysis
The regional growth analysis of the Asia-Pacific Heavy Construction Equipment Market includes the major regions covered.
The regional market of Asia-pacific is propelling due to the higher population rate, which is leading towards heavy construction. The rise in per capita income also drives the market in the forecast period. Asia Pacific countries show the highest economic growth rates globally. The augmented construction activities in developing countries such as India, China, and ASEAN countries are massively driving the market.
The mega construction projects in China demand heavy materials and machinery. The Tianhuangping hydroelectric project, Belt and Road Initiative, and the South-North water transfer project are the projects accelerating the demand for construction equipment. China will capture the largest regional market share value due to these project activities. Hence, the market will reach a higher profit margin in the future forecast period.
Industry News
In September 2022, Puzzolana, a leading global mining and construction equipment manufacturer, is all set to launch its new range of crushers at the tradeshow- INTERMAT 2022. The fastest-growing construction industry is looking for advancements in technology. With the rising growth rate and construction equipment products to meet the region’s needs, INTERMAT is in India to exhibit a wide range of construction materials in Mumbai.
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
…Continued
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