Heavy Construction Equipment Industry report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Asia-Pacific market size, share, Growth, Trends, key players forecast to 2021.

According to Market Research Future (MRFR)’s latest assessment, the Asia-Pacific heavy construction equipment market is prognosticated to expand at a CAGR of 8.2% during the forecast period. The report estimates that the market is anticipated to surpass a valuation of USD 100 Bn by the end of 2020. The boom witnessed in the construction sector in Asia Pacific is poised to encourage the growth pattern of the market in the years to come.

The economic development of the region is primarily responsible for accelerating revenue creation in the construction industry. This, in turn, is likely to drive the growth of the Asia-Pacific heavy construction equipment market over the next few years. Also, the region is likely to attract Foreign Direct Investments which is poised to catapult the market on an upward trajectory.

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Heavy construction equipment lessens the dependency on manual labor and enhances operational efficiency. It is prognosticated to have a favorable impact on the Asia-Pacific heavy construction equipment market in the upcoming years. The increasing disposable income of the population in conjunction with rising standards of living is forecasted to catalyze market growth over the assessment period.

The initiatives taken by the governments for infrastructural development are expected to have a positive influence on the growth of the Asia-Pacific heavy construction equipment market over the next few years. Also, the investments in the modernization of construction equipment are prognosticated to dictate the growth pattern of the market. However, the high cost of these equipment remains an impediment to market growth.

Market Segmentation:

By type, the Asia-Pacific heavy construction equipment market has been segmented into earthmoving equipment, material handling equipment, heavy construction vehicles, others. The others segment is further sub-segmented into cranes, excavator, and dozer.

By application, the Asia-Pacific heavy construction equipment market has been segmented into mining & excavation, earthmoving, transportation, lifting, material handling, and others.

By end-users, the Asia-Pacific heavy construction equipment market has been segmented into oil & gas industry, construction industry, military, mining, agriculture & forestry, and others.

Regional Analysis:

The Asia-Pacific heavy construction equipment market, by region, has been segmented into India, China, Japan, and the Rest of Asia Pacific. China is expected to lead the growth of the market in Asia Pacific. The region is equipped with resources for supporting the needs of the thriving construction sector. It is poised to expedite the expansion of the Asia-Pacific heavy construction equipment market in the foreseeable future. India signifies strong growth opportunities. The supportive laws implemented by the government are forecasted to drive the growth of the Asia-Pacific heavy construction equipment market in the country.

Competitive Dashboard:

The noted players of the Asia-Pacific heavy construction equipment market profiled in this MRFR report are Shreeji Earthmovers, Mahindra Construction Equipment, Hitachi, Komatsu, Kayaba Industry, Hyundai Heavy Industries, Caterpillar Inc., Terex, Bharat Earth Movers, And JCB Company.

Industry News:

In December 2018, a leading manufacturer of construction equipment, Sany India, has introduced sixteen new products including advanced excavators, truck cranes, concrete machinery, road equipment, etc.

In September 2018, John Deere, a global manufacturer of heavy equipment and lawn care equipment, has signed a supplier agreement with Wacker Neuson, German equipment manufacturer, for the development of compact excavator models to meet the growing needs of the Asia-Pacific marketplace.

In September 2018, Caterpillar, a leader in the manufacturing of Construction equipment, is eyeing on the consolidation of the Indian market with the launch of two excavator models in the country-level market.

In August 2018, China-based construction machinery company, Xuzhou, has announced the launch of a 700-ton hydraulic excavator. It also has a loader for the major salterns of South America.

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