Construction industry is one of the major contributor to the global economy. Construction equipment’s have made construction site safer and more effective for workers and has helped to boost efficiency, strengthen team work to handle challenging projects. The tremendous growth in the market is due to the growing residential and industrial construction activities. Heavy construction equipment’s allow the projects to be completed on time and reduces labor activities. Major End Uses of the market belong to the housing, mining, oil &gas and other sectors. Heavy equipment is not just needed for infrastructure but also in other sectors such as mining, agriculture, forestry and industry. For instance in October, 2020 Hitachi Construction Machinery Co. ltd announced that the company will launch Hitachi EX2000-7 ultra-large hydraulic excavator in October 2021. The EX2000-7 is remodeled of EX1990-6 and consumes up to 19% less fuel maintaining the same productivity.
The major driver for the growth of heavy construction equipment in Europe region is huge investment from various region creating opportunity for the market. Major investment in the region for improvement of road transport facilities and infrastructure for better accessibility to remote areas. The spending on the construction are likely to be stable and stagnant with growth expectation which is key factor for the growth of the heavy construction market. In Europe the nonresidential sector is expected to fuel the growth of region which ultimately has positive impact on the heavy construction equipment market. The growing technological advances and need for mechanization in construction is likely to provide regional manufacturers ample opportunities. The manufacturer are constantly focusing on design improvement to meet the needs and challenges.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the Heavy construction equipment market. In addition, complete analysis of changes on the Heavy construction equipment market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. Due to COVID-19 the heavy construction equipment market in Europe region had a negative impact as there is low demand for construction work which ultimately affected the growth of heavy construction equipment market. Supply chain and production of heavy construction equipment was also affected due to Covid-19.
The heavy construction equipment market is segmented based on equipment type, application, End Use and geography.
The heavy construction equipment’s are available in market as earthmoving, material handling, heavy construction vehicles
Earthmoving equipment is typically heavy duty vehicle designed for construction operations which further involves different subtypes including excavators, loaders, backhoe loaders and motor graders. Excavators are used in small and large-scale construction for housing projects, road construction, marine structures to place armors and large rocks, and are often used in larger sites to excavate, move construction materials and remove construction waste. All the movement and function of excavators are carried out by the rams and motors. Excavators is expected to witness significant growth rate due to increasing activities in the construction and other sectors. The availability of multi-mode excavator suits many applications that provide an advantage for different projects. Furthermore earthmoving equipment’s are expected to have high demand due to investments in industrial and commercial construction projects. Material handling equipment is used for movement, storage, material control, load carrying throughout the construction process. Material handling equipment is further sub segmented into cranes and telescopic handlers. Cranes are sheaves, hoists and ropes used to lift materials to the desired construction site. Cranes have two different types including mobile cranes and fixed cranes. Fixed cranes are more stable and have a better reach and are therefore used to transport heavier loads to higher levels.
The heavy construction equipment have major application in excavation & demolition, heavy lifting, material handling, recycling & waste management, transportation and tunneling.
Excavation and demolition would require long, tedious labor without modern day machinery. These heavy construction equipment are widely used to execute land clearing projects, plan heavy haul trucking, and creating a blank slate for the new building projects. The key aspects of excavation and demolition work is removing debris from site upon a project completion. Heavy lifting is one the most significant activity as majority of process are designed for various built, lift, carry and move with heavy loads added.
Depending on end use, the heavy construction equipment market is segmented into infrastructure, construction, oil & gas, manufacturing, military and mining, public work & rail road, agriculture. For oil& gas these equipment’s are used for building and maintaining the oilfield rocks, oil sands mining and reclamation. In agriculture these heavy equipment’s provide modern technique for the farmers giving advantage for preparing agriculture land and getting yield.
The heavy construction equipment market is studied for Europe region in the following countries Switzerland, Sweden, U.K, France and Germany.
Europe market growth is facing economic slowdown in recent years owing to infrequent demand and low construction activities. The heavy construction activities is anticipating to have insufficient growth rate in commercial and residential. The spending in the construction is stable in Western Europe with a growth expectation. Germany is anticipated to be the fastest growing in the region followed by U.K, France and others. Beside Eastern Europe nations will expect optimistic spending on construction in upcoming years. Huge investment from Asia- Pacific and North America has created opportunity for the Europe market in the upcoming years.
The major key player in Heavy construction equipment market are Liebherr Ag (Switzerland), Volvo Construction Equipment Ab (Sweden), Jcb (U.K) , Sodineg France (France) and CNH (U.K.) among others.
Jan 2020: Hyundai Construction Equipment, India has launched five new excavators and forklift at Excon 2019. These newly launched equipment include R30Z-9AK, 85A SMART, 130 SMART, HX220L and HX360L in the excavator range. It also launched a range of Li-Ion powered forklifts.
Nov 2020: Volvo CE launches new heavy duty excavator range. The two new ranges of excavators are standard and heavy duty.
Nov 2020: Volvo Group to launch SDLG excavators in India. The Volvo Group has introduced range of SDLG excavators, starting with the 13 t E6135Fi crawler model.
The report analyses the Europe heavy construction equipment market based on by equipment type, by application, by end use and geography. The heavy construction equipment’s are available as earthmoving, material handling, heavy construction vehicles. They have major applications in excavation & demolition, heavy lifting, material handling, recycling & waste management, transportation, tunneling. Depending on end use, the heavy construction equipment market is segmented into infrastructure, construction, oil & gas, manufacturing, military and mining, public work & rail road and agriculture. The heavy construction equipment market is studied for Europe region in the following countries Switzerland, Sweden, U.K, France and Germany.
The major key player in Heavy construction equipment market are Liebherr Ag (Switzerland), Volvo Construction Equipment Ab (Sweden), Jcb (U.K) and CNH (U.K.) among others.
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