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 refers to tough vehicles that are precisely designed in construction tasks, generally the ones that involve earthwork operations. Construction equipment, also known as heavy machines, heavy trucks, heavy vehicles, engineering equipment, or heavy hydraulics, are classified on the basis of the function they mainly perform such as excavating, hauling, hoisting, drilling, pile driving, paving, etc. Design emphasis for new equipment is majorly on the alterations that would upsurge the speed, efficiency, and accuracy of the machines in performing a particular task. Such modifications are also focused on providing the operators with enhanced comfort and safety, as well as, guard the surroundings from sound attenuation and emission control.
The upsurge in the development of commercial, residential, and industrial sectors and the increasing infrastructural investment by the numerous governments of countries are some of the factors that are anticipated to fuel the growth of the market over the forecast period. Though, mounting prices of oil and environmental effect by the release of carbon by the equipment are some of the major factors that are likely to restrain the growth of the market. Furthermore, the growing disposable income of an individual in developing countries of the Asia-Pacific region is likely to provide a rewarding opportunity for the market to grow.
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 Asia Pacific 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. These machineries provide numerous benefits such as increased project efficiency, quality improvement, and cost savings. By exploiting the modern machinery, end-users are experiencing an surge in profitability as they provide high productivity over labors, thereby growing demand in the Asia Pacific construction equipment market.
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.
Geographically, the Asia Pacific construction equipment market is studied across the countries of China, India, Japan, and Rest of the world. With massive scale and rapid infrastructural expansions, China accounted for the highest share in the market, followed by India.
The key competitor of the market includes Volvo Construction Equipment, Caterpillar Inc., Doosan Heavy Industries & Construction, Liebherr group, CNH Industriea, Atlas Copco, Kobe Steel, Ltd., Komatsu Ltd., J.C. Bamford Excavators Limited, Hitachi Construction Machinery Co., Ltd., among others.
The study analyses the Asia Pacific 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 Asia Pacific construction equipment market is studied across the countries of China, India, Japan, and Rest of the world.
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