Construction equipment are machinery specially designed to perform heavy duty tasks in construction and earthwork operations. Construction equipment are used accomplish construction tasks such as material handling, drilling, excavation, lifting, hauling, excavating, paving and grading. There are several kinds of construction equipment that have specific capabilities to accomplish specific tasks. Some of the key equipment includes cranes, loaders, excavators and dozers. Each equipment has its unique functionality e.g., excavators are used for excavation, cranes are used for lifting and material handling and loaders are majorly used for earthmoving.
The construction equipment market is witnessing rapid growth in the Asia-Pacific region, specifically in countries such as China, India and Japan due to favorable government investments in infrastructure projects and economic growth. Hike in crude oil prices negatively affects the Asia Pacific construction equipment industry, as it adds extra cost to the construction project.
The market is segmented based on solutions, type, applications, industries and country. Market by type segment includes loader, crane, excavator, forklift, dozer and others. The solutions segmentation includes product and service segments. Product segment includes all the equipment and service segment includes rental and maintenance services. Market is further segmented according to the different applications of these equipment in various verticals. The bifurcation includes excavation, lifting & material handling, earth moving, transportation, and material handling, and mining.
Based on country, the market is segmented into China, India, Japan, South Korea and Rest of Asia Pacific. The key players operating in this market are Volvo, Hitachi Construction Machinery, Caterpillar Inc., Liebherr Group, Kobe Steel Ltd. (KOBELCO), CNH Industrial and Komatsu Ltd.
CONSTRUCTION EQUIPMENT MARKET KEY SEGMENTS:
The market is segmented on the basis of type, application, solution, industries and country.
By Solution Type
POTENTIAL BENEFITS FOR STAKEHOLDERS:
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