Global construction demand is expected to grow at a yearly rate of 6. EU and North America equipment sales are forecast to rise after an unprofitable period between and Growth in other regions such as Asia-Pacific and Africa-Mideast is expected to slow through in tandem with construction and mining activity. The construction equipment and machinery industry has been hit by slow economic growth following the global financial crisis, which took a particular toll on global construction activity. Worldwide demand for construction equipment and machinery suffered a huge falling off after the economic downturn. Demand fell for three years running as investment in construction slowed.
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FIND YOUR CASE CONSTRUCTION EQUIPMENT:VIDEO ON THE TOPIC: How To Make More Money Buying or Selling Used Equipment and Heavy Machinery
Invalid Email. Invalid contact no. Special Symbols Not Allowed. Invalid Security Code. Construction equipment, also known as heavy equipment are specially designed machinery for performing construction operations. These equipment are used for different functions such as drilling, hauling, excavating, paving and grading.
Get more information on this report : Request Sample Pages. The world construction equipment industry has earlier faced slowdown due to sluggish economic conditions and slow growth of the construction industry, however the market is expected to grow at a steady growth rate in the coming years.
Increasing industrial, residential, and commercial construction activities, global economic growth, and rising public-private partnerships is expected to drive the market. However, government regulations concerning carbon emission and fluctuations in oil prices, restrain the market growth. Rising government investments for infrastructure development is expected to offer lucrative opportunities for growth.
They have adopted various growth strategies to capture a larger market share and increase their customer base. Presently, product launch strategy drives the market. This product helps to perform operations smoothly and facilitate easy maintenance. This product is featured with an automatic lubricant system to reduce service time and ensure durability. The report analyses the world construction equipment based on type, solution, application, industry and geography.
Based on type, the market is divided into loaders, cranes, forklifts, excavators, dozers, and others. The largest share of Earthmoving equipment is attributed to higher demand for equipment such as loaders and cranes. Increasing substantial investments to improve infrastructure has been the major driver for the growth of this sector. Public works projects include the construction of dams, bridges, government buildings, hospitals and schools. By solution, the market is bifurcated into product and service.
In , Asia-Pacific held the largest market share of the world construction equipment market in terms of revenue. The region is also expected to grow at the highest CAGR on account of increasing industrialization and urbanization in the region. Industrial, residential and commercial development. As per the current market scenario, construction equipment market size is expected to grow on account infrastructural development.
In , the growth of the construction equipment market was sluggish owing to the unfavorable existing economic conditions in many countries. However, improving economic conditions and decreasing unemployment have led to the increase in infrastructure investments, thereby driving the construction market significantly. Public-private partnership is a concept of partnership between government and private sector companies.
This partnership is encouraging substantial private sector investments in infrastructural development, thus boosting the construction equipment market growth. Construction equipment use diesel as fuel for its operations. Use of such fuel intensifies the emission of CO2 and further increases carbon footprints. Carbon emission has severe health side effects. The increasing level of carbon emissions poses a major challenge to the growth of the construction equipment market.
Thus, companies are now focusing on finding alternate energy sources to reduce the carbon emission from the machines. Chapter: 1 Introduction. Chapter: 2 Executive Summary. Chapter: 3 Market Overview. Chapter: 9 Company Profiles. Bamford Excavators Limited Jcb. List of Figures. List of Tables. The construction equipment, commonly known as heavy equipment are machinery having applications in excavation and mining, lifting and material handling, earthmoving, transportation and other areas.
In developing economies such as Asia-Pacific, rapid urbanization and industrialization would propel the demand for construction equipment in coming years. Increasing number of infrastructure projects in Asia-Pacific and LAMEA is expected to boost the construction equipment market in the near future. North America is also expected to grow at a notable pace on account of an upswing in residential construction activities.
The demand for earthmoving equipment is relatively higher in Asia-Pacific and North America on account of their usage in digging, foundation building, loading and for other purposes. Further, rising investments in energy sector and infrastructure sector is expected to drive the market for lifting and material handling equipment in Asia-Pacific. Key players operating in the market have launched equipment with improved features in order to strengthen their foothold.
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Heavy Equipment Distribution
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New and used construction equipment
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Personal CD Rates. Board of Directors. Commercial Services Login. A construction job mandates a large number of heavy machines. At CIT, we know that new construction equipment comes with a hefty price tag, which is why we work with contractors on a regular basis to provide financing and leasing options. We help our clients with simple, cost-effective measures that enable you to retain liquidity and stay on the cutting edge of technology. Our options feature affordable monthly payments so you can keep your bottom line in check while still having the tools you need to get the job done.
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Trade Developer Portal. Construction machinery manufacturers and producers of related parts and equipment in the United States have enjoyed sustained success, both at home and abroad. Products in this sector are necessary for the completion of new residential and commercial construction and infrastructure, as well as the maintenance and expansion of existing buildings, roads, transportation routes, water and sanitation facilities. Over the past five years, a number of factors have affected U.
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Heavy Equipment Financing and Leasing
Construction & Heavy Machinery Equipment Market Research & Statistics
The global market growth is observed, with the rise in public-private partnerships, increasing industrial, residential, and commercial construction activities, rising government investments in infrastructure development. A significant construction equipment market trend observed is the ongoing shift from traditional construction equipment to automated construction equipment. Therefore, the consumer is retrofitting and renovating old technology. In order to increase productivity across the construction industry, the prominent and strong players are effectively trying to tighten up the construction equipment supply chain and achieve efficiencies. Get comprehensive study about this report by, request a free sample copy. Consumers across the globe are demanding more fuel-efficient, technologically upgraded equipment for improvising the constructing activities.
Construction Equipment & Solutions
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All Hyundai Construction Equipment Americas products are available for purchase through Sourcewell, a national cooperative representing more than 50, U. Why pay for telematics?
Heavy equipment is essential for construction jobs of almost any size, from home building to large-scale commercial and civil projects. Earth-moving equipment covers a broad range of machines that can excavate and grade soil and rock, along with other jobs. Earth movers and other heavy equipment help to speed not only earth work but also materials handling, demolition, and construction.
Machinery manufacturing is one of the largest and most competitive sectors of the U. Leading markets for U. Taken as a whole, the European Union was the U.