The
global earthmoving equipment market is expected to reach USD 184.56 billion by
2022, according to a new study by Grand View Research, Inc. Technological
advancements such as facilitation of real-time monitoring for detecting and
monitoring equipment failure are anticipated to fuel product demand.
Vendors
are increasingly investing in R&D to develop solutions in order to improve
machine operations. Technology products such as AccuGrade Grade Control System
and Computer Aided Earthmoving System (CAES) are increasingly being
incorporated. Manufacturers also offer products with GPS technology and other
electronic control modules and database tools for enhancing product offering.
Increasing
mechanization of construction processes coupled with strong economic growth in
Asia Pacific earthmoving machinery market is anticipated to boost consumption
in the region. Rising expenditure on infrastructure activities is also expected
to escalate demand significantly over the coming years.
In depth research report on Earthmoving Equipment
Market
Further key findings from the study suggest:
·
Loaders segment accounted for
over 45% of the overall consumption in 2014 and is expected to shrink over the
next seven years. Demand balancing is anticipated to take some time as the
industry is expected to continue to be serviced with large number of existing
units.
·
Excavators market was valued
over USD 30 billion in 2014 and is expected to exhibit high growth over the
forecast period. Escalating demand across broad residential applications such
as public and private infrastructure development would drive demand
extensively. Rising adoption in the commercial sector is another key factor
driving industry growth.
·
Construction equipment industry
is expected to reach over USD 100 billion by 2022. Strong economic growth
coupled with increasing consumer spending on infrastructure activities is
anticipated to fuel product demand over the forecast period.
·
Private construction spending
accounted for over 75% of the total construction industry spending in 2014.
Increasing government investment in infrastructure development particularly in
developing nations of Asia Pacific is expected to spur demand. Growing urbanization
paired with increasing demand from corporate sector for infrastructure
development may also drive industry growth.
·
Asia Pacific earthmoving
equipment market accounted for over 50% of the industry share in 2014 and is
estimated to exhibit high growth prospects over the next seven years. Emergence
of lease-based machinery along with private investment in real estate is
further expected to propel demand.
·
Middle East earthmoving
equipment market is expected to grow at a CAGR of over 9.5% from 2015 to 2022.
Growing large scale construction projects especially in the Middle East
countries is expected to increase demand for these products over the next few
years. Technological advancements and improvement in the quality and
after-market services offered by vendors is also anticipated to drive industry
growth.
·
Key competitors dominating the
earthmoving equipment industry include Doosan Infracore Ltd., Caterpillar,
Komatsu Ltd., Sany Heavy Industries Co. Ltd and Liebherr. Industry participants
emphasize on offering low cost products over energy-efficient products,
particularly in price sensitive markets. Manufacturers also focus on lowering
production cost and meet emission regulations set by the various regulatory
bodies. Chinese manufacturers are increasing their international presence in
the wheel loaders industry, competing with enormous array of manufactures in
this segment.
Grand
View Research has segmented the earthmoving equipment market on the basis of
product, application and region:
Earthmoving Equipment Product Outlook (Revenue, USD
Million, 2012 - 2022)
·
Excavators
·
Loaders
·
Others
Earthmoving Equipment Application Outlook (Revenue,
USD Million, 2012 - 2022)
·
Construction
·
Others
Earthmoving Equipment Regional Outlook (Revenue, USD
Million, 2012 - 2022)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
MEA
Browse more research reports of this category:
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
No comments:
Post a Comment