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Resurgence in Construction Activity and Ambitious Mega Projects Drive Demand for Construction Equipment


Published: June 2017

REPORT STATISTICS


  • Code: MCP-2554
  • Pages: 409
  • Tables: 103
  • Companies: 109


CONSTRUCTION EQUIPMENT: A RESEARCH BRIEF

The global market for Construction Equipment is forecast to exceed 1.3 million units by 2024, driven by rapid urbanization, resurgence in housing, non-residential and infrastructure construction activity in global markets, and development of machines with greater performance and efficiency capabilities. Renovation of old buildings and structures and strong government push to build green residential and non-residential structures will spur sales of construction equipment in advanced economies. A noteworthy trend in the market is manufacturers’ focus on integrating advanced digital technologies and automation capabilities in a bid to improve the efficiency of machines and engines. Few of the breakthroughs achieved in this space include electronically controlled hydraulics; integrated fleet management capabilities and the ability to track idle time and fuel consumption; and predictive-data diagnostics capabilities that make maintenance faster and less expensive. Asia-Pacific represents the largest market worldwide, supported by rapid urbanization and construction of smart cities; increase in construction projects based on public-private partnerships (PPP); strong government focus on the development of public infrastructure; expanding manufacturing base and a parallel increase in new construction and renovation of industrial plants and warehousing facilities; surging foreign direct investments in the services sector and a parallel increase in commercial real estate investments. 

    Summary of Findings

  • Tendency of Large Construction Projects to Exceed Scheduled Completion Timelines by Over 20% Fuels Interest in Smart Connected Heavy Machinery
  • Focus on Construction Productivity, and Emphasis on Worker Safety Drive Investments in Construction Equipment Upgrades
  • Increased Legislations Worldwide for Diesel Emission Reduction for Non-Road Construction Equipment Drives Development of Biodiesel-Powered Construction Equipment
  • Increasing Preference for Equipment with Remote Monitoring Capabilities Benefits Market Demand
  • Strapped With Strong Housing and Public Infrastructure Projects, Developing Countries Emerge as Hotspots for Future Growth

    Timeline for Analysis

  • Market Estimates and Forecasts for 2016-2024
  • Historic Review 2011-2015

    Geographic Markets Analyzed

  • US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World

    Market Segmentation & Classification

  • Prominent Product Segments:
    • Mini Excavators, Wheeled Loaders, Crawler Excavators, Skid Steer Loaders, Backhoe Loaders, and Asphalt Pavers /Finishers

MAJOR PLAYERS

  • AB Volvo
  • Caterpillar, Inc.
  • CNH Industrial N.V.
  • Deere & Co.
  • Doosan Infracore Co. Ltd.
  • Hitachi Construction Machinery Co., Ltd.

KEY RESEARCH DELIVERABLES

  • Review of Industry/Market Structure
  • Analysis of Trends & Drivers
  • Insights on Macro Market Scenarios
  • Market SWOT Analysis
  • Latent Demand Forecasts & Projections
  • Comprehensive Geographic Market Analysis
  • Presentation Ready Facts & Statistical Data Findings
  • Coverage of Major/Niche Players, Market Shares & Competition
  • Coverage of major Company/Technology/Product/Financial Stories
  • Extensive Product/Service/End-Use/Technology Coverage Where Applicable