Le Lézard
Classified in: Mining industry
Subject: SVY

Construction Equipment Market Size Worth $112.52 Billion by 2025: Grand View Research, Inc.


SAN FRANCISCO, September 19, 2018 /PRNewswire/ --

The global construction equipment market size is expected to reach USD 112.52 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 4.8% over the forecast period. Increasing government spending on developing public infrastructure has been a major factor driving market growth. In addition, growing trend of renting used construction equipment has led to rise in demand for construction equipment.

     (Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg )

Earth moving machinery accounted for the highest market share in 2017. Increasing demand for large and mini excavators, backhoe loaders, and such other heavy construction equipment from developing countries is driving the market growth. Although China is considered as a market leader for these equipment, the country has faced a steep decline in sales over the last few years. The concrete and road construction machinery segment is anticipated to grow at the highest CAGR of 7.0% over the forecast period.

Concrete and road machinery include equipment such as asphalt pavers, rollers, and transit mixers used in road development of roads and transportation of concrete material. Road construction projects are anticipated to be a key driver for this product segment. For instance, in U.S., investment in roadways construction is expected to increase from nearly USD 91.0 billion in 2016 to USD 99.0 billion by 2020.

Among excavators, loaders, and other such earth moving machinery segments, excavator is anticipated to capture highest market share by 2025. Rapid technological advancements, better capacity, and increased productivity are key drivers for growth. Demand for loaders is expected to boost owing to increased requirement from Chinese market. Other earth moving equipment such as dozers are anticipated to grow at very high pace, owing to high demand from mining sector.

Truck mounted cranes dominated the material handling machinery market in 2017, owing to better product design and transportability. These all terrain cranes are useful in almost all working conditions especially for small construction projects. The crawler crane segment is anticipated reach USD 3.67 billion market by 2025. These cranes are highly powerful and sturdy in nature, thus, useful for large operations and moving large weights.

The concrete mixer and paver segment accounted for over 56% market share in 2017. Increasing mega construction projects in cities and rapid pace of urbanization boosted demand for the segment.

North America emerged as the global leader for heavy construction equipment in 2016. China slowdown helped North American companies to capture greater market share worldwide. For instance, North America accounted for greater than 75% demand for skid steer loaders in 2016. However, falling commodity prices has slowed down growth of construction and mining industry in 2017. Demand for earth digging equipment such as mini excavators has jumped in Middle East and Africa owing to growing mining activities.

Browse full research report with TOC on "Construction Equipment Market Size, Share & Trends Analysis Report By Product Type (Earth Moving, Material Handling, Concrete & Road Construction), By Region, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/construction-equipment-market-analysis

Further Key Findings From the Report Suggest: 

Browse related reports by Grand View Research: 

Grand View Research has segmented the global construction equipment market on the basis of product, sub-product, and region: 

Explore the BI enabled intuitive market research database, Grand View Compass, by Grand View Research, Inc.

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]

Web: https://www.grandviewresearch.com


These press releases may also interest you

at 18:56
GETTY COPPER INC. ANNOUNCES DEBT SETTLEMENT
Getty Copper Inc. (the "Company") today announced that they have agreed to issue 11,650,000 shares at a price of $0.05 per share to settle $582,500 of indebtedness of the Company. This includes 10,000,000 shares to be issued to non arms length...

at 18:30
LUCARA REPORTS VOTING RESULTS FROM ANNUAL MEETING
(BSE: LUC) Please view PDF version Lucara Diamond Corp. ("Lucara" or the "Company") held its Annual General and Special Meeting of shareholders in Vancouver, British Columbia today. Shareholders voted as follows on the matters before the meeting:...

at 18:20
IBC Advanced Alloys Closes Sale Leaseback Transaction
IBC Advanced Alloys Corp. ("IBC" or the "Company") is pleased to announce that it has closed the Company's previously announced sale leaseback transaction with Flatbay Properties LLC ("Flatbay").Pursuant to a purchase...

at 17:50
Azucar Grants Stock Options
Azucar Minerals Ltd. ("Azucar" or the "Company") announces that, pursuant to its Stock Option Plan, it has granted stock options to a director of the Company to purchase 400,000 common shares in the capital of the Company at an exercise price of...

at 17:45
Fonon Corporation Highlights Applications for Its Laser Cutting Technology in the Mining Industry
Fonon Corporation, a multi-market holding company, R&D center, equipment designer and manufacturer of advanced laser material processing systems for subtractive and additive manufacturing, highlights applications for its laser cutting technologies in...

at 17:27
Power Nickel delineates New Polymetallic Discovery
Power Nickel Inc. (the "Company" or "Power Nickel")  is pleased to announce high-grade multi-elements assay results for holes PN-24-048, PN-24-052 and PN-24-053. (see Figure 2 and Table 1 below) Highlights: PN-24-048 returned,15.27 m of 0.50 g/t...

More news about Mining industry...


News published on and distributed by: