Construction Equipment Market in the APAC Region 2015-2019
Market outlook of the construction equipment market in the APAC region
Construction equipment includes machines that are used to perform various tasks on the construction site such as hoisting, excavating, hauling, paving, grading, and drilling. Rapid urbanization in this region has resulted in the development of infrastructure projects such as highways, railroads, and ports. The increasing construction of such infrastructure projects is estimated to foster growth in this market during the forecast period and is envisaged to result in its impressive CAGR of more than 17% by 2019.
Technavio market research analysts have estimated eminent factors, such as the increase in real estate development, to drive market growth during the forecast period. Investments in real estate are expected to grow during the forecast period owing to factors like low-interest rates and the strengthening global economic environment. The APAC regions steady economic growth is another significant factor that is expected to propel market growth during the forecast period.
Segmentation by type and analysis of - road and concrete equipment, material handling equipment
In this market study, Technavios market research analyst estimates the road and concrete equipment segment to show the highest market growth rate during the forecast period. Increasing government investments in road and railway projects is a critical factor that augments growth in this segment and results in its impressive market growth rate of more than 23% by 2019.
This industry research report offers an analysis of each of the following sectors and discusses its effect on the overall market growth -
Road and concrete equipment
Competitive landscape and key vendors - Caterpillar, Hitachi Construction Machinery
This market is characterized by the presence of a competitive business environment and consists of well-diversified international, regional, and local vendors. The regional and local vendors offer customized construction equipment at cost-effective prices, whereas the large vendors offer equipment that are high quality and feature rich.
Key vendors in this market are -
Hitachi Construction Machinery
Other prominent vendors analyzed in this market study are XCMG, TerexCase, Komatsu, Bobcat, Liebherr, Doosan Infracore, Guangxi Liugong Machinery, Escorts Construction, JCB Construction, Gehl, Deere and Company, and KOBELCO Construction Machinery.
Growth drivers, challenges, and upcoming trends - Construction equipment
Technavios market research analyst has estimated upcoming factors, such as the advent of attractive financing options, to bolster market growth during the period of 2014 and 2019. As the ownership of construction equipment involves high initial investment, manufacturers are providing attractive financing options like flexible payment terms to increase their sales. The availability of such financing options allows companies to own the equipment with minimal impact on their budget and, therefore, results in market growth during the forecast period.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the construction equipment market in the APAC region. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
What will the market size and the growth rate be in 2019
What are the key factors driving the construction equipment market in the APAC region
What are the key market trends impacting the growth of the construction equipment market in the APAC region
What are the challenges to market growth
Who are the key vendors in the construction equipment market in the APAC region
What are the market opportunities and threats faced by the vendors in the construction equipment market in the APAC region
Trending factors influencing the market shares of APAC
What are the key outcomes of the five forces analysis of the construction equipment market in the APAC region
Technavio also offers customization on reports based on specific client requirement.
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Technavio Announces the Publication of its Research Report – Construction Equipment Market in the APAC Region 2015-2019
Technavio recognizes the following companies as the key players in the Construction Equipment Market in the APAC Region: Caterpillar, Hitachi Construction Machinery, Sany, Volvo Construction and Zoomlion
Other Prominent Vendors in the market are: XCMG, TerexCase, Komatsu, Bobcat, Liebherr, Doosan Infracore, Guangxi Liugong Machinery, Escorts Construction, JCB Construction, Gehl, Deere and Company, and KOBELCO Construction Machinery.
Commenting on the report, an analyst from Technavio’s team said: “Growth in equipment rentals is one such trend. The construction equipment industry being capital-intensive, many small firms are unable to invest heavily in advanced equipment so many vendors offer equipment on a rental basis. This is expected to lead to increased adoption of construction equipment.”
According to the report, one of the major drivers fueling the growth of the market is the increased investment in infrastructure projects. Rapid urbanization in APAC demands high investment in developing infrastructure such as highways, railroads, and ports, which leads to increased demand for construction equipment.
Further, the report states that changing customer needs is one of the major challenges. Regardless of customer usage of construction equipment, manufacturers have to create features such as reduced carbon emissions, equipment which can be used only for light construction work, and fuel efficiency, which are value additions to customers.
Caterpillar, Hitachi Construction Machinery, Sany, Volvo Construction, Zoomlion, XCMG, TerexCase, Komatsu, Bobcat, Liebherr, Doosan Infracore, Guangxi Liugong Machinery, Escorts Construction, JCB Construction, Gehl, Deere and Company, and KOBELCO Construction Machinery.