Construction Equipment Market Future Scope and Application Forecast to 2024
Category: #business  By Rahul Varpe  Date: 2020-01-15
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Construction Equipment Market Future Scope and Application Forecast to 2024

The rise in the sales of construction equipment across European countries has been encouraging leading product manufacturers to invest in research and development activities to launch new product portfolios. In addition, many construction and earthmoving equipment manufacturers have been focusing on expanding their regional footprints with mergers and acquisitions as well as with new facility establishments. These initiatives incidentally, are also being supported by many regional finance companies, pushing the growth of the construction equipment market further.

The changing focus of construction equipment suppliers toward establishing long-term relationships with customers and renowned OEMs is poised to boost industry growth over the years ahead. The adoption of frequent facility and dealer network expansion strategies is also deemed to emerge highly beneficial for the players in construction equipment industry. Driven by the growing demand for construction machinery along with the rapidly propelling infrastructural development activities, construction equipment market will surpass a revenue collection of USD 170 billion by the end of 2024.

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In European countries, the increasing involvement of the regional governments in infrastructure development has been generating lucrative opportunities for the construction equipment market contenders. More precisely, the shifting focus of governments and regulatory bodies toward the deployment of renewable energy facilities along with the implementation of smart city development programs have been tremendously pushing the need for construction equipment. In line with the rapidly growing number of construction activities, the sales of construction and earthmoving equipment across UK grew considerably in the second quarter of 2018 as compared to the same period in 2017.

The rapid growth of the construction industry, construction equipment market giants have been expanding their regional reach via renewed dealerships across myriad geographies. In addition, many equipment providers have been investing in new machinery as well as advanced technologies such as smart equipment to augment construction equipment industry trends.

The U.S. based farm equipment supplier Bonnel collaborated with a leading manufacturer of multipurpose tractors, Multihog. With this partnership, Bonnell became an exclusive Multihog distributor across Indiana, Illinois, Iowa, and Wisconsin. The on-going development of sidewalks and small roadways across this region would propel the requirement of Multihog’s tractors, which could easily work in tight alleys, sidewalks, and small roadways. This incidence validates that frequent collaborations among distributors and product manufacturers will considerably enhance the construction equipment market size over the years ahead.

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Over the last few years, construction equipment market, on the grounds of surging investments in infrastructural development, has been witnessing a rather appreciable growth rate. The rising trends in industrialization and urbanization across the globe have also been majorly propelling the need for construction equipment.

The major players operating in the construction equipment market include:

  1. Volvo Construction Equipment
  2. Caterpillar Inc.
  3. Komatsu Ltd.
  4. Hitachi Construction Machinery Co. Ltd.
  5. CNH Industrial
  6. Zoomlion Heavy Industry Science & Technology Co. Ltd.
  7. Kobelco Construction Machinery Co. Ltd.
  8. Terex Corporation
  9. Liebherr
  10. Sany Group

The industry is characterized by new product launches and expansion of product portfolio to enhance its market presence. Competitive pressure in the industry is compelling the industry participants to invest in new technologies, which will favor the construction equipment market growth.

Partial Table of Content of Construction Equipment Market:

Chapter 1.   Methodology & Scope

1.1.  Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope, definition and forecast parameters

1.1.4.1.   Definitions

1.1.4.2.   Assumptions, methodology and forecast parameters

1.2.  Data Sources

1.2.1. Primary

1.2.2. Secondary

Chapter 2.   Executive Summary

2.1.  Construction equipment market 360º synopsis, 2013 - 2024

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Product trends

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Chapter 3.   Industry Insights

3.1.  Industry segmentation

3.2.  Industry landscape, 2013 - 2024

3.2.1. Global construction equipment rental landscape

3.2.1.1.   North America

3.2.1.2.   Europe

3.2.1.3.   Asia Pacific

3.2.1.4.   Latin America

3.2.1.5.   MEA

3.2.2. Global used construction equipment landscape

3.2.2.1.   North America

3.2.2.2.   Europe

3.2.2.3.   Asia Pacific

3.2.2.4.   Latin America

3.2.2.5.   MEA

3.3.  Industry ecosystem analysis

3.3.1. Pros and cons – rent vs purchase of construction equipment

3.3.2. Cost calculator – rent vs purchase of construction equipment

3.3.3. Technology providers

3.3.4. Vendor matrix

3.4.  Technology & innovation landscape

3.5.  Regulatory landscape

3.5.1. ISO standards

3.5.1.1.   ISO 4310

3.5.1.2.   ISO 8686

3.5.1.3.   ISO 10245-1:2008

3.5.1.4.   ISO 12480-1

3.5.1.5.   ISO 23815-1

3.5.1.6.   ISO 12482

3.5.1.7.   ISO 23814

3.5.1.8.   ISO 19432:2012

3.5.2. North America

3.5.3. Europe

3.5.4. Asia Pacific

3.5.5. Latin America

3.5.6. MEA

3.6.  Industry impact forces

3.6.1. Growth drivers

3.6.1.1.   Implementation of advanced technologies in construction equipment

3.6.1.2.   Increasing infrastructure investments globally

3.6.1.3.   Growing construction industry in China & India

3.6.1.4.   Rising equipment rental demand in North America & Europe

3.6.1.5.   Increasing rate of urbanization in the North America & Europe

3.6.1.6.   Increasing infrastructure and industrial projects in Russia

3.6.1.7.   Growing urbanization and safety concerns in India

3.6.1.8.   Growing reconstruction and maintenance activities in Japan

3.6.1.9.   Rapid infrastructure development in BRIC countries

3.6.1.10.     Recovering construction sector in Latin America

3.6.1.11.     Increasing investment in mining projects across Latin America & MEA

3.6.1.12.     Rising number of public private partnership projects in MEA

3.6.2. Industry pitfalls & challenges

3.6.2.1.   Cyclic instability of application industries

3.6.2.2.   Lack of skilled and qualified operators

3.6.2.3.   High initial cost

3.6.2.4.   Fluctuation in oil prices

3.6.2.5.   Cost associated with maintenance

3.7.  Major infrastructure project statistics, by region

3.7.1. North America

3.7.2. Europe

3.7.3. Asia Pacific

3.7.4. Latin America

3.7.5. MEA

3.8.  Growth potential analysis

3.9.  Porter's analysis

3.10.       Competitive market share analysis, 2017

3.10.1.  North America

3.10.1.1.     U.S.

3.10.1.2.     Canada

3.10.2.  Europe

3.10.2.1.     UK

3.10.2.2.     Germany

3.10.2.3.     France

3.10.2.4.     Italy

3.10.2.5.     Russia

3.10.3.  Asia Pacific

3.10.3.1.     China

3.10.3.2.     India

3.10.3.3.     Japan

3.10.3.4.     South Korea

3.10.4.  Latin America

3.10.4.1.     Brazil

3.10.4.2.     Mexico

3.10.5.  MEA

3.10.5.1.     Saudi Arabia

3.10.5.2.     UAE

3.10.5.3.     South Africa

3.10.6.  Strategy dashboard

3.10.7.  Investment landscape

3.11.      PESTEL analysis

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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