Asia Pacific Construction Equipment Market Report 2022-2025: Regional Revenue, Growth & Trends Analysis
Asia Pacific Construction Equipment Market is poised to grow at more than 5% CAGR through 2025. The growing development efforts for the upgradation of infrastructure across India has had a dramatic impact on the nation’s construction industry throughout the last decade. It is common knowledge that the construction industry’s influence spans numerous sub-sectors of the country’s economy, thus becoming the primary drivers of its socioeconomic development. Today, the Indian sub-continent is known to be one of the world’s six fastest growing economies, making it the largest hub for infrastructure & construction investments in Asia. In the years to come, the Asia Pacific construction equipment market is expected to garner a massive chunk of its revenue from India.
Driven by massive spending on infrastructural projects and rising inflow of FDI in the real estate sector, Asia Pacific construction equipment industry has established itself as one of the most lucrative business spheres in the recent times. The rise of online retail outlets and the convenience of replacing parts by the firms via online channels has been creating considerable opportunities for the players operating in the Asia Pacific construction equipment industry.
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India construction equipment industry is also slated to benefit significantly from the nation’s ongoing efforts to construct a greener residential sector. According to the World Green Building Council, ever since the India Green Building Council rolled out the nation’s Green Homes Rating program back in 2008, over 1.5 billion sq. feet of green building space has been sanctioned for development under the rating, which is equivalent to approximately 1,800 projects or more than 1,300,000 dwelling units. Approximately 500 of the nation’s prominent real-estate developers have now adopted the Green Homes Rating with projects being developed across 175 cities & towns across India, paving the way for the Asia Pacific construction equipment market to garner extensive profits from India.
Following its establishment as one of the prominent growth engines of the Asian continent, India has stepped up its efforts to reform the way urbanization has been progressing in the nation over the last few decades. Owing to increasing population and high rate of migration, the demand for affordable housing is on the rise. In addition to this, the need to upgrade the overall transportation network across urban and rural areas has been one of the top-most priorities of the nation.
To achieve the desired results in terms of sustainable urbanization in this time and age, India has been investing heavily in the construction sector – a business vertical which has emerged as the second largest employer in the nation over the last few years. The construction sector received a humongous boost by the Indian government in 2015 when it launched three mega urban transformation schemes viz., Housing for All, Atal Mission for Rejuvenation and Urban Transformation (AMRUT), and Smart Cities Mission.
Australia’s independent infrastructure advisory body Infrastructure Australia, for the last decade, has released a report that identifies the nation’s top projects shaping the country’s growth, while also declaring which of those projects would be receiving its financial backing. With the country’s population expected to hit 12 million by 2050, the demand for housing is expected to majorly surge in the years ahead. This would majorly augment the regional construction industry, that would serve to propel the APAC construction equipment market from Australia.
In Australia’s 2018-19 budget, the government had allocated over $75 billion for a 10-year-long national infrastructure upgradation plan which aims to improve the country’s road safety, deliver essential rail links and tackle congestion. This move is also expected to ensure sizable growth for the region’s construction equipment market over the coming years.
Owing to Australia’s rapidly rising population, the government apparently, is also planning a plethora of new infrastructure projects such as housing construction, railways, airports, etc. Attributed to the same, the nation is projected to witness high demand for machinery, driving the regional construction equipment industry. Indeed, Asia Pacific construction equipment market is anticipated to register a CAGR of 6% over 2019-2025.
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Some Point from Table of Contents:
Data Tables
TABLE 1. APAC construction equipment industry 3600 synopsis, 2015 - 2025
TABLE 2. Asia Pacific construction equipment market size, 2015 – 2018 (USD Million)
TABLE 3. Asia Pacific construction equipment industry size, 2019 – 2025 (USD Million)
TABLE 4. Asia Pacific construction equipment industry size, 2015 – 2018 (Units)
TABLE 5. Asia Pacific construction equipment market size, 2019 – 2025 (Units)
TABLE 6. Asia Pacific construction equipment industry size, by demand, 2015 – 2018 (USD Million)
TABLE 7. Asia Pacific construction equipment industry size, by demand, 2019 – 2025 (USD Million)
TABLE 8. Asia Pacific construction equipment market size, by demand, 2015 – 2018 (Units)
TABLE 9. Asia Pacific construction equipment industry size, by demand, 2019 – 2025 (Units)
TABLE 10. Asia Pacific construction equipment market size, by product, 2015 – 2018 (USD Million)
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