Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Construction equipment is specifically designed machinery used to complete construction operations. These equipment are used for different functions such as excavating, paving, drilling, hauling, and grading. The construction machinery market study includes machinery, such as Telescopic Handling, Excavator, Cranes, Loaders and Backhoe, Motor Grader and Others, as well as drive type, such as Hydraulic, and Electric & Hybrid.
Increasing investments by governments across the globe for developing public infrastructure has been one of the major factors driving the market demand for this equipment. Moreover, the mounting population in emerging economies has resulted in increased residential and commercial construction activities. Thus, the market is projected to grow steadily over the forecast period. Though, increasing use of construction equipment results in environmental imbalance restrain the market growth.
The exclusive COVID 19 impact analysis provides an analysis of micro and macro-economic factors on the Construction Equipment market. Also, complete analysis of changes on healthcare expenditure, economic and international policies on supply and demand side. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. COVID-19 pandemic has a significant impact on the construction industry. Though, the late-cycle construction equipment industry should remain to see considerable demand and advantage from ongoing infrastructure development.
The study analyzed the global Construction Equipment Market based on equipment category, equipment type, application, and geography
Earthmoving equipment, material-handling equipment, electric construction equipment, and heavy construction vehicles are the equipment category of the construction equipment market. Earthmoving equipment segment leading the market. Most earthmoving equipment practices hydraulic drives as the prime source of motion. Excavators, loaders, and motor graders are considered under earthmoving equipment. These types of equipment are considered for construction activities.
Wheeled loader, wheeled excavator, skid-steer loader, RTLT telescopic, RTLT masted, rigid dump truck, road roller, motor scraper, motor grader, mini excavators, crawler loader, crawler excavator, crawler dozer, backhoe loader, asphalt finisher, and articulated dump truck are the equipment of the market. The wheeled loader segment held a lion’s share in the market. These equipment are used mainly to unload/load and bulk material movement in construction, crushers, and quarry. They are generally used in large scales infrastructure projects such as roads and highways, dams, ports, railways, and airports.
The power output of the market is less than 100 HP, 101–200 HP, 201–400 HP, and more than 400 HP. Construction equipment with this power output allows manufacturers to advance machine capability and downsize the engine. This diminishes maintenance costs and expands fuel economy and better component layout. Construction equipment with a power output variety between 100-200 HP is mostly suitable for airport construction projects, road, and commercial projects.
The market finds application in industrial, Residential, Commercial, Infrastructure, and other industries. The industrial segment dominates the market by application. Owing to commercial and foreign direct investment and growing industrialisation. Commercial infrastructure development across developing country is likely to represent considerable market worldwide.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific leads the global construction industry market. The construction equipment market has experienced development in several projects such as airports, dams, and hydroelectric projects. Many worldwide companies have started their manufacturing plants in the Asia Pacific.
The key competitor of the market includes Sumitomo Heavy Industries, Kobe Steel Ltd., Hyundai Heavy Industries, Guangxi LiuGong Machinery Co., Ltd., Astec Industries, Manitowoc, Ammann, Wirtgen Group, Sandvik, Atlas Copco AB, Xuzhou Construction Machinery Group Co., Ltd. (XCMG), Liebherr-International AG, Komatsu Ltd., J C Bamford Excavators Ltd., Hitachi Ltd., Doosan Infracore Co. Ltd., Deere & Company, CNH Industrial N.V., among others.
The study analyzed the global Construction Equipment Market based on equipment category, equipment type, application, and geography. Earthmoving equipment, material-handling equipment, electric construction equipment, and heavy construction vehicles are the equipment category of the construction equipment market. The earthmoving segment is likely to dominate the market over the forecast period. The market finds application in industrial, Residential, Commercial, Infrastructure, and other industries. The industrial segment is leading the market over the forecast period. Wheeled loader, wheeled excavator, skid-steer loader, RTLT telescopic, RTLT masted, rigid dump truck, road roller, motor scraper, motor grader, mini excavators, crawler loader, crawler excavator, crawler dozer, backhoe loader, asphalt finisher, and articulated dump truck are the equipment of the market. The wheeled loader segment dominates the market. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific, and the Rest of the World.
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