Global Construction Machinery Market 2018-2022
About Construction Machinery
The global construction machinery market presents the market analysis of various machineries that are widely used in construction and mining industries worldwide. The global construction machinery market includes: Wheeled loaders, Crawler excavators, Skid-steer loaders, Backhoe loaders, Cranes, Conveyor systems, Hoist, Forklift, and Grader.
Technavio’s analysts forecast the global construction machinery market to grow at a CAGR of 8.07% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global construction machinery market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Construction Machinery Market 2018-2022
Technavio recognizes the following companies as the key players in the global construction machinery market: AB Volvo, Caterpillar, Doosan Infracore, Hitachi Construction Machinery, J C Bamford Excavators, Komatsu, and Terex.
Other Prominent Vendors in the market are: CNH Industrial, Liugong Machinery, HIDROMEK, Lonking Machinery, Manitou, SANY GROUP, Shantui Construction Machinery, and Sumitomo Heavy Industries.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing trend of skyscrapers and mixed-use developments. The growth in the global population and the rapid movement of people toward urban settlements have given rise to the need for infrastructure, such as multi-family homes, condominiums, hospitals, hotels, and offices. This has resulted in the demand for land to surpass its availability. As a result, skyscrapers were built. Skyscrapers are tall, habitable buildings with multiple floors. They are very convenient as they accommodate plenty of floor space in a relatively small amount of ground surface, owing to their immense heights. Skyscrapers are also referred to as high-rise buildings; however, the term skyscraper is used for buildings higher than 100 meters.”
According to the report, one driver in the market is growth in government spending toward infrastructure. Investment in public infrastructure, such as roads, railroads, and bridges, is considered one of the key tools for fiscal stimulus. Significant spending in public infrastructure plays a vital role in stabilizing the economy of a nation and facilitating its growth. Investment in infrastructure enables economic growth and provides employment opportunities. In addition, it ensures the delivery of important services, such as housing, energy, and safe water supply. Strong and updated public infrastructure also attracts investments from multinational companies worldwide. Moreover, the growth in economies results in improved living standards for citizens.
AB Volvo, Caterpillar, Doosan Infracore, Hitachi Construction Machinery, J C Bamford Excavators, Komatsu, Terex, CNH Industrial, Liugong Machinery, HIDROMEK, Lonking Machinery, Manitou, SANY GROUP, Shantui Construction Machinery, and Sumitomo Heavy Industries.
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