According to a new market report published by Lucintel, the future of the heavy construction equipment market looks promising with opportunities in the excavation & demolition, heavy lifting, material handling, tunneling, transportation, and recycling & waste management industries. The global heavy construction equipment market is expected to grow with a CAGR of 7% from 2020 to 2025. The major drivers for this market are increasing investment in the construction industry and more infrastructural activities.
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In this market, earthmoving, material handling, and heavy construction vehicles are the major types of heavy construction equipment. Lucintel forecasts that heavy construction vehicles will remain the largest type segment over the forecast period, as there is rapid urbanization and industrial development.
Within this market, excavation & demolition will remain the largest application segment over the forecast period due to the increase in mining activities of precious minerals and metals across the globe and increase in natural calamities where excavators are used in rescue operations.
Asia Pacific will remain the largest region, and it is also expected to witness the highest growth over the forecast period due to high construction demand in the region and developing economic condition.
Caterpillar, Liebherr, Terex, Volvo Construction Equipment, Komatsu, Doosan Infracoe, Hitachi Machinery Construction, JCB, Sany, and CNH are among the major suppliers in the global heavy construction equipment market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global heavy construction equipment market by type, end use industry, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Heavy Construction Equipment Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global heavy construction equipment market by type, end use industry, application, and region as follows:
By Type [Value ($ Million) shipment analysis for 2014 – 2025]:
Earthmoving
Material Handling
Heavy Construction Vehicles
By End Use Industry [Value ($ Million) shipment analysis for 2014 – 2025]:
Construction & Manufacturing
Public Work & Rail Road
Mining
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Excavation & Emolition
Heavy Lifting
Material Handling
Tunneling
Transportation
Recycling & Waste Management
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
United Kingdom
Spain
Germany
France
This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
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