Global Construction Equipment Market 2016-2020
About Construction Equipment
Construction equipment is used to perform multiple tasks on the construction site such as hoisting, excavating, hauling, paving, grading, and drilling. Construction equipment has many uses in the building and realty sector. This type of equipment includes excavators, loaders, construction tractors, graders, rollers, scrapers, conveyors, cranes, compactors, and pavers.
Technavio’s analysts forecast the global construction equipment market to grow at a CAGR of 11.55% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global construction equipment market for 2016-2020. To calculate the market size, we have considered the revenue generated by the sale of construction equipment worldwide. Also, as part of the scope for the report, we have considered the end use of construction equipment in the infrastructure and residential construction sectors only. Based on geography, the report is segmented as follows:
Technavio Announces the Publication of its Research Report – Global Construction Equipment Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Construction Equipment Market: Caterpillar, Deere, Komatsu, Terex and Volvo
Other Prominent Vendors in the market are: CNH Industrial, Doosan Infracore, Manitou Americas, Guangxi Liugong Machinery, Hidromek, JCB, Guangxi Liugong Machinery, Lonking Holdings, Sany Heavy Industry, Shantui Construction Machinery, Sumitomo Heavy Industries, XCMG, and Xiamen XGMA Machinery.
Commenting on the report, an analyst from Technavio’s team said: “The construction equipment industry is capital-intensive. Since small construction firms find it difficult to afford construction equipment due to their high prices, vendors also provide equipment for rent. This is expected to lead to increased adoption of construction equipment during the forecast period.”
According to the report, rapid urbanization results in the development of infrastructure such as highways, railroads, and ports. This, in turn, leads to a rise in the demand for construction equipment. Increased investment in real estate development worldwide because of low interest rates and economic recovery is fueling market growth.
Further, the report states that adherence to industry regulations is a major challenge faced by the market.
Caterpillar, Deere, Komatsu, Terex, Volvo, CNH Industrial, Doosan Infracore, Manitou Americas, Guangxi Liugong Machinery, Hidromek, JCB, Guangxi Liugong Machinery, Lonking Holdings, Sany Heavy Industry, Shantui Construction Machinery, Sumitomo Heavy Industries, XCMG, Xiamen XGMA Machinery.